CNA

CanAsia Financial Inc. ("CanAsia") (TSX VENTURE:CNA) announces its wholly-owned
subsidiary Pacific Optical Technology (Shenzhen) Ltd. ("POT") has entered into
an agreement with Shenzhen KingCome Optoelectronics Co. Ltd. ("KingCome") to
design, manufacture and distribute mobile camera modules in China.


Under the arrangement, POT grants KingCome the exclusive right to use POT's
production facilities located at Shaji of Shenzhen and support KingCome to
develop camera module business at the location. KingCome will pay POT a security
deposit of RMB 1 million (approximately Cdn$157,000) and an annual franchise fee
of RMB 1.2 million (approximately Cdn$190,000). In addition to the franchise
fee, with the consent of POT, KingCome may purchase from POT supplies, technical
services and the right to use POT's intangible assets, such as use of trade
name, at additional costs. The initial term of the agreement is for two years,
renewable by mutual agreement of the parties.


"The arrangement with KingCome is a positive step for POT to move from a
production based operator to a knowledge based company. It allows us to generate
a steady cash flow at lower risk by applying our technological know-how and
expertise in the mobile camera module industry as well as pursuing mobile phone
related business more aggressively." Commented by Dr. Woo-Young Kim, Chief
Executive Officer of CanAsia.


CanAsia continues to develop and distribute new models of Hyundai mobile phones
and seeks revolutionary mobile technologies, business expertise and capital to
support its growth.


About CanAsia 

CanAsia is an Alberta registered company listed on the TSX Venture Exchange. It
engages in the business of original design, manufacture and distribution of
Hyundai brand mobile phones for the Philippines and components of mobile camera
modules to leading mobile phone and computer makers in China. It is one of the
six independent mobile camera module manufacturers in China producing high
resolution camera modules higher than 3 mega pixels. Pacific has an in-house
Class-100 Clean Room facility which is required for state of the art
Chip-on-Board and Chip of Flex technological applications. CanAsia has offices
in Canada, Hong Kong, China and the Philippines. (www.canasiafinancial.com)


Forward-looking statements: 

This press release may contain forward-looking statements about certain of
CanAsia's current plans, goals and expectations relating to future sales of cell
phones and financial conditions, performance, results, strategy and objectives.
Statements containing the words: 'believes', 'intends', 'expects', 'plans',
'seeks' and 'anticipates' and any other words of similar meaning are
forward-looking. All forward-looking statements involve risk and uncertainty
because they relate to future events and circumstances beyond CanAsia's control.
As a result, CanAsia's actual financial condition, performance and results may
differ materially from the plans, goals and expectations set out in the
forward-looking statements. Any forward-looking statements are made as of the
date of this release and, other than as required by applicable securities laws,
CanAsia does not assume any obligation to update or revise them to reflect new
events or circumstances. A description of assumptions used to develop such
forward-looking information and a description of risk factors that may cause
actual results to differ materially from forward-looking information can be
found in CanAsia's disclosure documents on the SEDAR website at www.sedar.com.

CanAsia Financial Inc. (TSXV:CNA)
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