LOS ANGELES, Dec. 15, 2005 (PRIMEZONE) -- Victor Industries (OTCBB:VICI) has come to terms with broadband solution provider Zhejiang Fibersense Communications Technology Co. Ltd. ("FSP China") on the terms of a Non-Disclosure Agreement (the "NDA") that will serve to guide merger negotiations, which are expected to come to fruition in the first quarter of 2006. The specific terms of the merger are presently being discussed between Victor and FSP China, and will be released as they become available.
As previously announced, FSP has used its considerable contacts to secure a distributor for Victor's products on mainland China and South East Asia. Victor is pleased to announce it has assigned distribution rights to Hong Kong-based New Point International (NPI). Within days, NPI secured a $100,000.00 order for Victor's products from mainland Chinese clients.
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ABOUT Zhejiang Fibersense Communications Technology Co. Ltd.
Zhejiang Fibersense Communications Technology Co. Ltd. (FSP) www.fsp.com.cn is an Optical Network, VoIP (Voice over Internet Protocol) and Wireless Broadband (802.16 WiMax) voice-and-data fixed-and-wireless telecommunication solution provider and virtual operator with branches in Mainland China (PRC) and Hong Kong. FSP has set up sales and engineering office centers in Hangzhou, Beijing, Chungdu, Shenzhen and Hong Kong. The Company is committed to providing cost-effective integrated VoIP and WiMax system solutions conforming to Chinese and international standards.
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended; such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operations to vary significantly from prior periods, and those projected in forward-looking statements. Information with respect to these factors which could materially affect the Company and its operations are included on certain forms the Company files with the Securities and Exchange Commission.