Cardtrend International Inc. ("Cardtrend International"), a public company listed on the NASD OTCBB in the United States, trading under the symbol "CDTR", is the parent company of a group of payment and loyalty-reward related services companies comprising the following major wholly-owned subsidiaries:

Interpay International Group Ltd., incorporated in BVI, holds the assets of Cardtrend International's Cards Business Unit, as well as being the brand owner of all its payment and loyalty-reward cards products. Interpay International Group now has several joint venture card companies in Asia: a payments card company and a loyalty-reward cards company in Malaysia(Synergy Cards Sdn. Bhd. and iSynergy Sdn. Bhd.); a payment cards company in Qatar (being incorporated as Interpay Cards (Qatar) WLL); and a payment cards company in Mongolia (being incorporated as Interpay Cards Business Co. Ltd). Several more joint venture cards companies in other Asian countries are planned for in the near future. Through a wholly-owned subsidiary incorporated in BVI, management and technical services are provided to all Cardtrend International's joint venture companies.

Interpay International Airtime Pte. Ltd., incorporated in Singapore, holds the assets of Cardtrend International's Prepaid Business Units, as well as being the brand owner of all its prepaid products and services (e.g. mobile phone prepaid airtime, Internet prepaid services, long distance prepaid services, entertainment and transportation prepaid tickets, gift cards, etc.) Interpay International Airtime has a joint venture company in Malaysia, Etop Services (Malaysia) Sdn. Bhd., which sells third parties' prepaid products electronically through a network of Etop Dealers. Plans to expand the Prepaid Business throughout Asia are being developed.

Cardtrend Systems Sdn. Bhd., incorporated in Malaysia, acts as Cardtrend International's Processing Business Unit providing business processes out-sourcing and data processing services and solutions to operators of payment and loyalty-reward cards in Asia and other regions. Its major clients currently include Shell Oil in several countries in Asia, Petron Oil of Philippines, KhrungThai Card of Thailand, PTT Oil of Thailand, Bangchak Petroleum of Thailand, SmartPay and eCard of New Zealand, Bank Islam Brunei Daarussalam of Brunei and Jaring Synergi Mandiri in Indonesia. Cardtrend Systems is also the Technology Centre for Cardtrend International and supplies all systems solutions to all the Business Units of Cardtrend International.

Asia Payment Systems (China) Co. Ltd., incorporated in Shanghai, China, holds the assets of Cardtrend International's businesses in China and conducts all three lines of Cardtrend International's business (Cards Business, Prepaid Business and Processing Business). A strategic alliance with Global Uplink Communications Ltd., Guangzhou, China has been formed to provide business processes out-sourcing services ("BPO"), including customer relations management ("CRM"), to major financial institutions and multi-nationals operating in China.

Asia Payment Systems (HK) Limited., incorporated in Hong Kong, provides corporate and administrative support to all Business Units of Cardtrend International Inc.