SOURCE: PayChest Inc.

October 04, 2010 10:51 ET

PayChest Inc. -- New Board Appointments & President, Pillay, to Leave End October

HONG KONG--(Marketwire - October 4, 2010) -  PayChest Inc. (Arizona) (PINKSHEETS: PYCT) at a Board meeting held September 28, 2010, the Board of PayChest carried out the following:

a) Appointed three new members to the Board:
Mr. Peter Coorey
Mr. Colin Lu (Guang)
Mr. Henry Soo

b) Appointed Mr. Peter Coorey as President of the Company effective immediately

c) Appointed Mr. Colin Lu as Secretary effective immediately

d) Mr. Lawson Pillay resigned as President of the Company effective immediately.

e) Mr. Lawson Pillay resigned from the Board of the Company giving 30 days notice. His last day with the Company will be October 28, 2010.

Director Bio's:

Mr. Peter Coorey is an Australian citizen residing in Hong Kong and is currently Executive Chairman of GreenPowerTek International Ltd, a developer/owner/operator of proprietary renewable fuel technologies; a Director & Marketing Director of Battery Angel International (Australia and Hong Kong), a company responsible for the International marketing and sales of various patented motoring related products and services; and a Director of Impact Prowear, a sports and uniform manufacturer and distributor.

With more than 20 years business experience in finance and marketing through to Board level Mr. Coorey brings a depth of experience to support the PayChest business, its growth, and driving sales of Flushaway worldwide.

Mr. Colin Lu (Guang) is a Chinese businessman and entrepreneur with more than 15 years sales and marketing experience in China. He owns an institutional laboratory sales and services business. Colin specializes in medical device sales to institutions in China.

Mr. Henry Soo is a Canadian citizen who was instrumental in establishing the manufacturing and supply chain of Flushaway manufacturing in China. He brings manufacturing expertise of Flushaway, knowledge of suppliers, and experience of sourcing in China.

About PayChest (Arizona)

PayChest, a global marketing company and developer of technology solutions and its strategic partner companies, market and distribute select products and services worldwide, which provide an increased public awareness to conserve and preserve the world's limited resources.

About the dividend PayChest (Oregon)

PayChest and its strategic partner companies are developing integrated commerce processing solutions utilizing cutting edge technologies to deliver in store, online and mobile solutions globally. These include turnkey point of sale solutions, gift and loyalty portal systems, ACH electronic systems, online and mobile payment platforms and rewards-based platforms to integrate into an existing business system.

Safe Harbor Statement

The foregoing press release contains forward-looking statements. For this purpose any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "estimate," "continue," "can" or comparable terminology are intended to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties and actual results may differ materially depending on a variety of factors.

Contact Information