SOURCE: Ray Flame Entertainment Inc.

December 22, 2008 11:00 ET

Ray Flame Entertainment Inc., a Leading Browser-Based Game Publisher, Announced That It Has Reached Definitive Acquisition Terms With Peak Virtual Entertainment Inc.

CITY OF INDUSTRY, CA--(Marketwire - December 22, 2008) - Ray Flame Entertainment Inc. (http://www.webmmo.com) is one of the fastest growing browser-based MMO game developers and publishers. The company aims to create a new type of online entertainment for global audiences. Its current free-to-play web browser title is Lords of Evil. To make its game highly portable, Ray Flame Entertainment eliminates all high end hardware requirements and tedious downloads for its games by simplifying the game design without compromising the entire game play experience.

Peak Virtual Entertainment, PKVE, is a leading MMO browser game developer and publisher in China. Established in June 2004, the company is headquartered is Beijing, China and has set up branches in the United States. PKVE currently has about 200,000 registered users and two game titles: The Legacy of Holy Castle and Banish Land, both in open beta. PKVE provides more entertainment variety to mobile users with its non-flash web games and was called "leading the race to become the first web-browser MMO strategy game that is fully playable on both smart phone devices and on PCs" by industry experts.

Upon the acquisition and successful integration of platform and services, the PKVE platform and its two games will be migrated to Webmmo.com, the official game platform of Ray Flame Entertainment. Players from each platform can continue to play all three games in the new platform with their original ID and also have more games to play. The acquisition will increase the total user base of Ray Flame from 150,000 registered users to 350,000 registered users and will successfully enable Ray Flame to address a broader audience.

Michael Zhang, Ray Flame's chief executive officer, remarked, "This acquisition is a natural extension of our intention to grow competitively. It accelerates Ray Flame's presence in the browser-based game segment. Current Ray Flame users can look forward to playing more diversified and high quality free-to-play games on their mobile devices."

About Ray Flame Entertainment Inc.

Headquartered in City of Industry, CA, Ray Flame Entertainment Inc. was established in November 2007 and recently received investment from several Silicon Valley and Chinese VC firms. The technology Ray Flame Entertainment implements on its games provide more interactive features to the users in different platforms including mobile devices. For more information about Ray Flame Entertainment, please visit www.webmmo.com.

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