Pan Asia Corporation Limited (ASX:PZC) Appoints Mr Domenic Martino As Chairman

Perth, Jan 29, 2010 AEST (ABN Newswire) - The Directors of Pan Asia Corporation Ltd (ASX:PZC) are pleased to advise that, upon completion of the proposed acquisition of Innovation West Pty Ltd, Mr. Domenic Martino will be joining the board as Chairman of Directors.

Domenic brings to the Company an extensive commercial and financial network arising from decades of top level, international resource experience. His previous roles include serving as CEO of Deloitte Australia as well as Chairman of Sydney Gas and his current directorships include a number of significant resource companies.

Domenic specialises in and has a strong record in successful turnaround / startup situations and his joining the Company is a key part of the implementation of its significant growth plans.

It is planned that Domenic will be joined on the board by an Indonesian representative of one of the largest projects being acquired.

Legal due diligence on the package of assets to be acquired is being carried out thoroughly and this involves multiple legal teams visiting each site and completing enquiries with multiple agencies. While this process is ongoing, preliminary exploration work on some projects has already been initiated and the Company expects to provide further updates in the very near term.

CEO Alan Hopkins said "Domenic joining the board is a great development and his significant experience in Asia will be a particularly strong asset for the Company during this period of rapid growth."

Contact

Alan G. Hopkins Chief Executive Officer Tel: +61-8-9381-5819