SOURCE: BlueBear Networks International, Inc.

May 14, 2007 08:00 ET

BlueBear Networks International, Inc. Announces Merger With China Pinpinhao Oil & Grain Group, Ltd.

OTTAWA, ON -- (MARKET WIRE) -- May 14, 2007 -- BlueBear Networks International, Inc. (PINKSHEETS: BLBR) announced today that it has finalized acquisition plans with China Pinpinhao Grain & Oil Group, Ltd. and Qingdao Pinpinhao Grains & Oils Group Co. Ltd. As part of the acquisition, the Board of Directors has agreed to a reverse stock split of one (1) common share for every fifty-five (55) common shares, to be effective as of May 24, 2007. Fractional shares will not be issued, but will be rounded up to the next whole share. In addition, the name of the Company will be changed to Pinpinhao, Inc. and will be redomiciled to Wyoming.

China Pinpinhao Grain & Oil Group, Ltd. (a British Virgin Island company) and Qingdao Pinpinhao Grains & Oils Group Co. Ltd. (a People's Republic of China domestic company) is a comprehensive company which uses advanced equipment for the production of peanut oil and wheat flour. For more information, visit http://www.pinpinhao.com/.

This press release contains forward-looking statements as defined in the Securities Litigation Improvements Act of 1996. The words "believe, expect, estimate, and project" and similar expressions define forward-looking statements, which speak only as of the date the statement was made. BlueBear undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise. Forward-looking statements are currently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated in, or underlie the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the company's ability to meet its projected growth, the effects of government regulation, competition and other material risks.

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