SOURCE: AFA Music Group, Ltd.

January 29, 2008 08:31 ET

AFA Music Group to Launch Social Network as Part of New Digital Music Label

New Web Venture to Open Window to Artists and Revenue

WHITE PLAINS, NY--(Marketwire - January 29, 2008) - AFA Music Group, Ltd. (PINKSHEETS: AFAO) is pleased to announce the creation of a social network to complement the Company's forthcoming ArtistForArtist digital music label. The social network will give musicians and fans of AFA Music Group's artists an opportunity to share their thoughts, their music, photos and information with others, including AFA artists and executives.

The social network is expected to increase exposure to the Company and its artists. It will also potentially increase revenue and the value of AFA Music Group as a preferred destination for recording artists -- from up-and-coming performers to established stars. Membership to the network will include mailing lists, updates on the Company and its artists, promotions and new products.

Individual recording artists and bands will be able to upload their music to the Web site, have it heard by other members and AFA staff for a chance to win a recording contract with AFA Music Group. The social networking site will be linked to the AFA Web site and also feature blogs, surveys, events and classified ads. The Company expects to have the social network online early this year, soon after the launch of the ArtistForArtist digital music label.

"This will present an ideal situation with which to communicate with fans of our artists, receive input and ideas, and listen to music from new artists. It will increase the overall value of the Company exponentially, and we can't wait to hear what fans and musicians have to offer," stated Jon Goldwater, CEO of AFA Music Group, Ltd.

Music downloads, products and advertising represent excellent opportunities for social networking sites to increase revenue. According to The 2007 Digital Music Survey, compiled by Entertainment Media Research and law firm, Olswang, 39 percent of social network users embed downloaded music on their profiles and 53 percent surf social networks for new music.

About AFA Music Group, Ltd.:

AFA Music Group plans on simultaneously acquiring various music-publishing assets and to begin developing its own catalogue of artists and albums. AFA retains equity positions with all of its artists, which include all income streams that are generated by these artists. These income streams include recording royalties, merchandise, sponsorship, touring, music publishing, Internet downloads and ringtones.

Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. The Company is a development stage company who continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.

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