SOURCE: Sports Source, Inc.

October 16, 2006 07:30 ET

Kinfair Holdings Limited Completes Reverse Takeover of Sports Source, Inc. (OTCBB: SPSI)

NEW YORK, NY -- (MARKET WIRE) -- October 16, 2006 -- Sports Source, Inc. (OTCBB: SPSI) announced that it was acquired by Kinfair Holdings Limited, a Hong Kong company, in a reverse takeover on October 11, 2006. Kinfair, through its China-based subsidiary, manufactures markets and sells chemicals used as fertilizer for crops and in certain manufacturing processes, such as urea, methanol, ammonium hydrogen carbonate and dimethyl ether. Under the terms of the Share Exchange Agreement, Sports Source has issued 7,500,000 shares of its common stock to the shareholder of Kinfair in exchange for all of the outstanding shares of Kinfair Holdings Limited. By way of this transaction, Kinfair Holdings Limited has become a wholly owned subsidiary of Sports Source, Inc.

As part of the transaction, Sports Source, Inc.'s sole director and majority shareholder cancelled 13,700,000 shares of Sports Source's common stock held by him. As a result, the company now has outstanding approximately 12,640,000 shares of common stock issued and outstanding on a fully diluted basis. Sports Source, Inc. has ceased all of its prior business operations and has adopted and implemented Kinfair Holdings Limited's business plan. The company intends to change its name from Sports Source, Inc. to Far East Energy and Chemical Corp. and obtain a new ticker symbol.

As part of the transaction, new and experienced senior management and a Board of Directors were appointed to the company.

Mr. Wang, Kinfair's President, stated the he and his management team "are very excited about the new opportunities available for Kinfair as a public company and they look forward to building stockholder value."

About Kinfair Holdings Limited

Kinfair Holdings Limited manufactures, markets and sells chemicals used as fertilizer for crops and in certain manufacturing processes, such as urea, methanol, ammonium hydrogen carbonate and dimethyl ether. Kinfair's one subsidiary, Henan Jinding Chemical Industry Co., Ltd., is located in Henan province, The People's Republic of China. All of the company's products are manufactured in Henan province, PRC.

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Contact Information

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