SOURCE: S3 Investment Company

February 27, 2007 12:57 ET

S3 Investment Company Announces Appointment of New Independent Director

TEMECULA, CA -- (MARKET WIRE) -- February 27, 2007 -- S3 Investment Company, Inc. (PINKSHEETS: SIVC), a holding company with two subsidiaries doing business in the China market, today announced that its Board of Directors has appointed Manhong (Mannie) Liu, chairman and chief economist of VCChina Ltd., a global investment and consultation firm based in Beijing, as an independent director of the company. Ms. Liu was appointed to fill the vacancy created by the death of Douglas Perkins, who had served on the Board since January 25, 2006.

A Current Report on Form 8-K detailing Ms. Liu's appointment to the Board has been filed with the Securities and Exchange Commission. On February 21, 2007, S3 filed an 8-K reporting the death of Mr. Perkins.

"We are deeply saddened by the death of Mr. Perkins, who was a close friend and served the company well during his term as Director," stated Jim Bickel, chairman and chief executive officer of S3 Investment Company.

On February 26, 2007, the Board appointed Ms. Liu to fill the vacancy on the Board of Directors. The Board now consists of Mr. Bickel, Gary Nerison and Ms. Liu.

In addition to serving as chairman and chief economist, Ms. Liu is the founder of VCChina Ltd., whose operations include venture capital investment advisory services, venture capital investment, consulting services, and educational services. Under Ms. Liu's leadership, VCChina has become one of the leading companies in China's venture capital market.

Ms. Liu has a doctoral degree of economics from Cornell University. She served as research faculty of Harvard University from 1993 to 1997 and is currently professor and Ph.D. student mentor of Renmin University of China. She is also Financial Advisor to the Beijing Municipal Government, Director of Boston China Finance Research Center in the U.S., Director of the VC Research Center of Renmin University of China, and Honorary Vice Director of the VC Association of China.

"We believe that Ms. Liu will be an invaluable asset to S3 as a member of our Board and look forward to the guidance and oversight she will provide," stated Mr. Bickel. "Ms. Liu's leadership of VCChina, her impressive academic credentials, and her extensive experience bridging the venture capital markets of the U.S. and China make her particularly well-suited to join S3's management team."

S3 entered into a twelve-month Director's agreement with Ms. Liu. Under terms of the agreement, she is entitled to $2,000 a month for services provided.

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About S3 Investment Company

S3 Investment Company, Inc. (http://www.s3investments.com) is a holding company with two subsidiaries doing business in the China market. S3 holds a 100% equity interest in Redwood Capital (http://www.redwoodcapinc.com), which assists private Chinese companies in accessing U.S. capital markets by utilizing a network of investment banking relationships, and a 51% equity interest in SINO UJE (http://www.sinouje.com), a non-stocking distributor of medical and industrial high-tech products to markets throughout China. SINO UJE has been granted exclusive distribution rights in China to medical and industrial products manufactured by leading companies in Europe, North America and Japan. These products are marketed to end-users, including major Chinese hospitals and private companies in a variety of fields, as well as original equipment manufacturers (OEMs), such as Phillips, Siemens and GE, that package the products with their technologies.

Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on forward-looking statements. S3 Investment Company, Inc. undertakes no obligation to update any such statements to reflect actual events.

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