SOURCE: Amico Games Corp.

March 17, 2010 16:00 ET

Amico Games Was Approved to Enjoy 40% Income Tax Reduction

SAN FRANCISCO, CA--(Marketwire - March 17, 2010) -  Amico Games Corp. (OTCBB: AMCG), an information technology company specializing in developing and operating mobile phone multiplayer networked games, today announces that the Company's Chinese subsidiary, Galaxy Software (Guangzhou) Limited, has been officially approved by the Guangzhou Local Tax Bureau for an income tax rate deduction from 25% to 15% in 2010; a decrease of 40%.

Galaxy submitted the application to be recognized as high technology enterprise to enjoy the beneficial tax rate in November, 2009, and the application was officially approved in January 2010. The beneficial tax policy was published by the Guangzhou Local Tax Bureau in November 2008, and all enterprises identified as high technology enterprise will enjoy the beneficial income tax deduction from 25% to 15%. According to the policy, Galaxy is able to renew the beneficial income tax policy for upcoming years by passing an annual examination.

"We are happy to receive the beneficial tax deduction from 25% to 15% in our fiscal year of 2010," commented Mr. Peter Liu, CEO and President of AMCG. "The income tax policy greatly reduces our tax burden and improves our profitability. Under this tax policy, we will have more capital to invest into our R&D plan and marketing activities. I believe that our shareholders will be happy with this exciting news with regard to our financial performance."

About Amico Games Corp.

Galaxy Software (Guangzhou) Limited is a Chinese private-owned company incorporated in November, 2001. Galaxy is one of the earliest mobile phone multiplayer game developers in China, as well as one of the first Chinese company to develop and operate Java™ MMRPOG (massive multiplayer role playing online games) mobile phone games. It is also the first company to provide multiplayer games over the WAP platform of China Mobile, the world's largest mobile phone provider based upon subscribers. For more information, please visit the Company's website at: www.amicogames.com

Safe Harbor Statement:

Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of the Company's products, the competitive environment within the industry, the ability of the Company to continue to expand its operations, the level of costs incurred in connection with the Company's expansion efforts, economic conditions in the industry and the financial strength of the Company's customers and suppliers. The Company does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

Contact Information

  • Contact
    Amico Games Corp.
    Investor Relations Office
    Tel: 1-877-331-8777
    Email: info@amicogames.com

    201 Spear Street, Suite 1100
    San Francisco, CA 94105
    USA