SOURCE: ONE Holdings Corp.

August 18, 2009 08:50 ET

ONE Holdings Signs LOI to Purchase Jianou Lvjian

Acquisition to Increase Revenue, Operating Income and Net Income by $17m, $5.1m and $3.9m Respectively (Based on 2008 Results)

MIAMI, FL--(Marketwire - August 18, 2009) - ONE Holdings, Corp. (formerly Contracted Services, Inc.) (OTCBB: ONEZ) ("ONE" or the "Company") (www.onehcorp.com), an investment company owning majority equity interest in core operating assets in Biotechnology located in the Asia Pacific region, is pleased to announce it has signed a letter of intent ("LOI") for the purchase of Jianou Lvjian FoodsStuff Co. Ltd ("JLF").

"ONE's planned acquisition of JLF, and our recent addition of Green Planet Bio, demonstrate the company's execution of its business plan which focuses on the acquisition in the Asia Pacific region of biotechnology companies and related assets," said ONE's President, Marius Silvasan. "Upon completion of the JLF acquisition, combined revenue, EBITDA, and Net Income for ONE Holdings would be increased to $27 million, $10 million and $7.7 million respectively based on 2008 results. We hope to close the JLF acquisition prior to the end of the third quarter. Such a closing would allow us to consolidate JLF's results in our third quarter and contribute to the delivery of record financial results by our company. JLF's management team includes some of the most prominent pioneers in the production of organic products based on bamboo. Post closing we plan to grow JLF organically and through strategic acquisitions," added Mr. Silvasan.

JLF, located in China, is an award-winning green-technology enterprise that specializes in the highly profitable production of organic products and fertilizers based on bamboo. JLF's products reflect the growing global trend for organic food and health products. JLF holds lush bamboo land contracts of nearly 6,635 acres in Fujian Province, one of China's largest bamboo growing areas. JLF is the third largest bamboo producer in China and is the first bamboo company in China to gain food safety certification from both Japan (JAS) and Europe (HACCP). JLF was also the first company in China to formulate a "zero-to-zero" process starting from cultivation to distribution, and taking it further by developing organic fertilizers from bamboo skins to eliminate its waste. This led to JLF being named the "Forestry Enterprise of the Year" for 2009 in Fujian Province, China. JLF's 2008 unaudited results include revenue, operating income and net income of $17.0 million, $5.1 million and $3.9 million respectively.

"We are excited to join the ONE Holdings team. ONE adds industry knowledge, operating know-how, and valuable Wall Street connections to facilitate our access to funding required to support our growth strategy," commented Mr. Jinrong Tang, Chairman of JLF. "JLF has delivered strong operating results in 2008 and continues to outperform into 2009. Our products are exceptional in quality, competitive in pricing and in growing demand, establishing a strong platform to support our growth efforts," added Mr. Tang.

As part of the transaction JLF is to set up a WFOE ("Wholly Foreign-Owned Enterprise") upon which JLF is to become a wholly owned subsidiary. Upon the formation of the WFOE and completion of JLF's two year audit, ONE has agreed to acquire from the WFOE 80% of its common shares and $5,000,000 USD value of preferred shares convertible into an additional 20% equity into the WFOE. As part of the transaction JLF is to change its name to United Green Technology, Inc. ONE is to acquire the common and preferred shares for a combination of cash and an aggregate of approximately 22 million shares of ONE common stock. The transaction is intended to close within 60 days and is subject to the completion by ONE of its due diligence.

About ONE Holdings, Corp.

ONE Holdings, Corp. ("ONE") (OTCBB: ONEZ) (www.onehcorp.com), headquartered in Miami, FL, is an investment company owning majority equity interest in core operating assets in Biotechnology located in the Asia Pacific region. Through ONE, small private companies gain access to capital, experienced management and strategic insight. ONE intends to build strong synergies amongst all subsidiaries to enhance shareholder value. ONE is working with each subsidiary to promote organic and acquisition driven growth. ONE plans to leverage its financing and distribution subsidiaries to provide ONE's very profitable biotechnology businesses with growth capital and expanded distribution allowing them to achieve scale. As scale is achieved, ONE intends to bring each subsidiary public to maximize value to its investors.

About Jianou Lvjian FoodsStuff Co. Ltd ("JLF")

Jianou Lvjian FoodsStuff Co. Ltd ("JLF"), located in China, is an award-winning green-technology enterprise that specializes in the highly profitable production of organic products and fertilizers based on bamboo. JLF's products reflect the growing global trend for organic food and health products. JLF holds lush bamboo land contracts of nearly 6,635 acres in Fujian province, one of China's largest bamboo growing areas. JLF is the third largest bamboo producer in China and is the first bamboo company in China to gain food safety certification from both Japan (JAS) and Europe (HACCP). JLF was also the first company in China to formulate a "zero-to-zero" process starting from cultivation to distribution, and taking it further by developing organic fertilizers from bamboo skins to eliminate its waste. This led to JLF being named the "Forestry Enterprise of the Year" for 2009 in Fujian Province China.

This press release includes statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). ONE Holdings, Corp. claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms "may," "believes," "projects," "expects," or "anticipates," and do not reflect historical facts. Specific forward-looking statements contained in this press release include, but are not limited to: our successful integration of diversified growth companies, impact of the company's expansion plan, and new business development success, future financial results, development and acquisition of new product lines and services, the impact of competitive products or pricing from technological changes, the effect of economic conditions and other uncertainties. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ materially from the expectations contained in any such forward-looking statements. These risks include, but are not limited to: failure to manage operating expenses or integrate new companies and/or technologies, each of which could have a material impact on our business, our financial results, and the company's stock price. These risks and other factors are detailed in the Company's regular filings with the U.S. Securities and Exchange Commission. Most of these factors are difficult to predict accurately and are generally beyond the Company's control. Forward-looking statements speak only as to the date they are made and ONE Holdings, Corp. does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

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