SOURCE: Parafin Corporation

September 19, 2006 09:00 ET

Parafin Corporation Confirms Buyer's Capacity to Purchase 1,200,000 Metric Tons of Diesel #2 on Their (12) Twelve Day Tour of Southeast Asia

PALM SPRINGS, CA -- (MARKET WIRE) -- September 19, 2006 -- ParaFin Corporation (OTCBB: PFNC): ParaFin agrees to Re-Sale 1,200,000 Metric Tons of High Speed Diesel #2 representing USD$52,000,000 per month to Rayong Purifier Public Company Ltd. (as the parent company of WELLSLINK PETROLEUEM CO. Ltd.), represented by its Chairman Mr. Supapong Krishnakan.

Rayong Purifier Public Company Ltd., as the buyer, is a Public Company trading on the Thailand Exchange with a holdings of (7) refinery operations and rated in the TOP 100 companies in Thailand. The Buyer's Bank has sent to Parafin's Bank a confirmation of the transaction and of the Buyer's capacity to complete. We are awaiting two Letters of Credit: (1) the issuance from the Buyer's Bank of a Documentary Letter of Credit for US$25,000,000 for a Cargo-by-Cargo payment on each delivery, and, (2) the issuance of a US$25,000,000 Standby Letter of Credit as guarantee for the contract.

Prior to concluding the contract, Parafin's representatives completed their due-diligence in visiting the Rayong refinery facilities in Thailand, Nam Theun 2 Hydroelectric Project in the Republic of Laos and other business locations in Southeast Asia.

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors including, but not limited to those, set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at www.sec.gov). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.

Contact Information