DFCT D F China Technology (MM)

DF China Technology Announces Squadram Limited Paid The Subscription of US$2.1 Million To Subscribe 5,200,000 Shares of Common Stock HONG KONG, April 19 /Xinhua-PRNewswire-FirstCall/ -- The directors of DF China Technology, Inc. announces that pursuant to the subscription agreement entered into between Squadram Limited and the Company, Squadram paid the subscription money of US$2.1 million on April 16, 2004. The Company will complete the transaction on April 20, 2004 and issue 5,200,000 shares of common stock to Squadram, as agreed. After the closing of the transaction, the shareholders' equity value of DFCT will increase to US$2,554,797.38 which meets the US$2,500,000 stockholders' equity requirement of Nasdaq for continuous listing. CONTACT: Aaron Zhu Executive Director and Chief Financial Officer DF China Technology Inc. Tel: +852-2255-0688 DATASOURCE: DF China Technology, Inc. CONTACT: Aaron Zhu, Executive Director and Chief Financial Officer of DF China Technology Inc., +852-2255-0688

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