Valdor to Acquire Shanghai Opel

Valdor Fiber Optics announces acquisition of Shanghai Opel Technologies

September 20, 2004

1 Min Read

HAYWARD, Calif. -- The Board of Directors of Valdor Fiber Optics Inc. (“Valdor”) (TSX-V: VFO) are pleased to announce that Valdor has entered into an equity agreement (“Agreement”) with the shareholders of Shanghai OPEL Technologies Inc. (“Opeltech”), whereby Valdor will have the right to acquire up to 100% of the shares of Opeltech. Opeltech is controlled by China International Intellectech Corp. (, and China WorldBest Group Corporation (, one of China’s largest industrial conglomerates. Under the terms of the Agreement, Valdor will issue 5,000,000 common shares of its capital stock to the equity owners of Opeltech in exchange for a 60% equity interest in Opeltech. Valdor has the right to acquire the remaining 40% interest of Opeltech in the future.

As part of the terms of the Agreement, Opeltech will be renamed Valdor Shanghai Inc., and will handle all sales and marketing in the Asia Pacific fiber optic market, further establishing Valdor’s foothold. Opeltech’s acquisition adds additional optical and printed circuit board assembly to Valdor’s fiber optic manufacturing capabilities.

The Agreement is subject to certain conditions including but not limited to, the approval of the Board of Directors of both companies, the receipt by Opeltech of a business license from the Chinese regulatory authorities and the approval from the TSX Venture Exchange.

Valdor Fiber Optics Inc.

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