SOURCE: Friendly Auto Dealers, Inc.

August 24, 2009 08:30 ET

Chinese Automobile Emissaries Visit Friendly Auto Dealers, Inc.

LAS VEGAS, NV--(Marketwire - August 24, 2009) - Friendly Auto Dealers (OTCBB: FYAD) Following up on Chief Executive Officer Tony Lam's recent business trip to the People's Republic of China, including the Province of Guangzhou, Mr. Lam recently received two businessmen from China at the Company's headquarters in Las Vegas, Nevada.

Mr. Wang and Mr. Xie, principals of established Chinese automobile dealerships, specifically traveled to the United States for continued and follow up discussions subsequent to Mr. Lam's July 2009 trip to China, where discussions began and focused on developing potential business synergies between Mr. Wang's Kia dealership and Friendly Auto Dealers, Inc. Discussions continued in regards to a possible partnership or joint venture between the Wang Dealership and Friendly Auto Dealers, Inc. culminating in the possible development and expansion of Friendly Auto Dealers, Inc.'s business within China.

The parties agreed to discuss entering into a Letter of Intent that would be drafted in the next few weeks. It should once again be noted that no formal agreement was reached between the Wang Dealerships and Friendly Auto Dealers, Inc. during this visit. However, Mr. Lam believes this is the next step in continuing to develop an ongoing business relationship and is very helpful in establishing good rapport that will produce an expansion of the Company's business.

About Friendly Auto Dealers

Friendly Auto Dealers is a start-up company incorporated on August 6, 2007, under the laws of the State of Nevada. The principal offices are located at 4132 South Rainbow Boulevard, Suite 514, Las Vegas, Nevada. The telephone number is (702) 321-6876. The fax number is (702) 939-0655. Friendly Auto Dealers is a developer and seller of customized apparel and consumer products with logos in China.

Safe Harbor Statement

To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.

Contact Information

  • For more information please contact:

    A.S. Austin & Co.
    Investor Relations
    702-609-7559