Corporate website: www.hk1180.com

C Y Foundation Group Limited, a Chinese interactive digital entertainment company, ("C Y Foundation", HKG:1182), today announced that the Company entered into an Agreement ("the Agreement") with Paradise Entertainment Limited (HKG:1180) on 21 August 2009 for the subscription of 6% New Convertible Notes in the aggregate principal amount of HK$20 million with an option to subscribe for the Additional Notes in an aggregate principal amount of HK$20 million.