CNA

CanAsia Financial Inc. ("CanAsia" or the "Company") (TSX VENTURE:CNA) is pleased
to announce that the Company has been appointed an official supplier to supply
camera modules to Foxconn Group of Taiwan. These camera modules will be used for
production of a world leading brand mobile phone. We anticipate this business
transaction will increase our sales significantly in the next 12 months.


About Foxconn Group 

Foxconn is the largest and fastest growing multinational that provides
joint-design, joint-development, manufacturing, assembly and after-sales
services for global Computer, Communication and Consumer-electronics ("3C")
leaders. Foxconn manufactures i-phones, i-pads, Motorola and Acer phones among
other brand names products. With nearly US$60 billion of consolidated revenue in
year 2010, Foxconn is the World's No. 1 Manufacturing Services Provider for 3C
industry, with about 1 million workers worldwide.


The Company is also pleased to announce that Dr. Woo Young Kim and Ms. Nancy
Yihong Huang have been elected to its Board of Directors during the Company's
Annual General Meeting held on May 10th, 2011. Currently the Board of Directors
includes Mr. Jay Leung, Mr. Jacky Chak Sun Cheng, Mr. Barry Pearson, Dr. Woo
Young Kim and Ms. Nancy Yihong Huang.


Dr. Woo Young Kim: Dr. Kim is a professor with the School of Green Energy &
Semiconductors at Hoseo University (Korea), where he has been employed since
2005. He is also an adjunct professor with the Department of Engineering Physics
at McMaster University (Canada) in 2011. Prior to this, he was the Chief
Technology Officer of Hyundai LCD Inc. a major Korean display company from 2005
to 2006, and CTO of Luxell Technologies Inc. from 2002 to 2005. Luxell is a
Canadian company that specializes in the research and development of flat panel
display enhancing technologies used in many different consumer, aerospace, and
defense solutions. Between 2000 and 2002, Dr. Kim was a Project Manager for
Hyundai LCD Inc. in the OLED Business Division. Hyundai LCD is a leading
manufacturer in display components for mobile electronic devices. Dr. Kim
obtained his Ph.D. from Purdue University (USA) in 1995. He also holds a Masters
of Science from Murray-State University (USA), which was granted in 1990. Dr.
Kim brings more than 10 years of hi-tech manufacturing expertise to the Company.


Nancy Yihong Huang: Ms. Huang is currently the Chief Financial Officer ("CFO")
of Xiamen Songyu Container Terminal Co., Ltd (XSCT), an Equity Joint Venture
container terminal between A.P. Moller - Maersk Group and Xiamen Port Group
since 2005. Previously, she worked as a senior accountant in People's Bank of
China (PBOC) - Xiamen Branch since July 1989. In March 1991, she joined Sea-Land
Service Inc., the number one U.S. shipping carrier under CSX Corporation as the
Finance and Administration Manager of the Southeast China Region. From 1999 to
2005, she was the Fujian Region Finance Manager and the regional trainer of Asia
for Maersk Line. Maersk is the world's largest container shipping line after
acquiring Sea-Land Service Inc. from CSX Corporation. Ms. Huang has experience
with international accounting and audit practices and standards, as well as
knowledge in finance issues in China. Ms. Huang holds a Bachelor of Science
degree majoring in Business Administration from Fudan University (Shanghai,
China), which was granted in 1989. She is currently an M.B.A. Candidate with the
Xiamen University Graduate School of Management (Xiamen, Fujian, Peoples
Republic of China). Ms. Huang brings more than 20 years of accounting and
international finance expertise to the Company.


About CanAsia 

CanAsia is engaged in the designing, manufacturing and distributing optical
modules to mobile device makers in China. Currently there are two predominant
digital camera sensor technologies: Charge- coupled Devices (CCD) and
Complementary Metal-oxide-semiconductors (CMOS). Within CMOS sensor type, there
are three main types of construction: (a) Chip Support Package (CSP), (b) Chip
on Board (COB) and (c) Chip on Flex (COF). COF is the latest generation using
flexible substrate. CanAsia focuses its business in COB and COF, and it has an
in-house Class-100 Clean Room facility which is required for COB and COF
production. It is one of the six independent camera module manufacturers in
China producing high resolution camera modules higher than 3 million pixels.


CanAsia has established relationships with key mobile phone manufacturers and
suppliers in China. CanAsia sells directly to its customers and has not
appointed distributors or agents anywhere.

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