CanAsia Financial Inc. ("CanAsia" or the "Company") (TSX VENTURE:CNA) announces
that Mondeo Development Group Ltd., a wholly-owned subsidiary of CanAsia, has
changed its name to Pacific Mobile Inc. ("Pacific Mobile"). Pacific Mobile has
the exclusive rights to design, manufacture and distribute Hyundai mobile phones
for the Philippine markets. 


Pacific Mobile has produced its first two new models of Hyundai mobile phones,
HYUNDAI H300 and HYUNDAI Q800, and received the certificate de conformite ("CE")
for these models. The CE certified compliance of these products with the
essential health and safety requirements of the relevant CE directives enables
these units to be sold on any of the CE certification markets. Both H300 and
Q800 models are multi-function feature phones tailored for the mid-market
consumers in the Philippines. The first shipment of 6,000 units of these new
models is scheduled for delivery next week. Additional shipments are expected to
follow subsequent to the holiday season's promotions.


Pacific Mobile will continue to develop new models of Hyundai phones and seek
revolutionary mobile technologies, market expertise and capital to support its
growth.


About Hyundai Corporation

Hyundai Corporation is one of Korea's leading companies involving in a wide
range of businesses including steel, heavy machinery, ships, automobiles,
electronics and basic commodities. It is also working with select partners to
bring Hyundai-branded electronics and other consumer products to households
worldwide, and has seen remarkable growth in the sale of mobile phones, digital
cameras and home audio/video systems. Hyundai Corporation has many years of
experience in global trade, solid financing capabilities, and unparalleled
regional and local expertise through its network worldwide.
(www.hyundaicorp.com)


About CanAsia

CanAsia is an Alberta registered company listed on the TSXV. 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 million 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, with a total staff of
approximately 135. (www.canasiafinancial.com)


Forward-looking statements: 

This press release may contain forward-looking statements about certain of the
Company'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 the Company's
control. As a result, the Company'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, the Company does not assume any obligation to update or revise them to
reflect new events or circumstances.
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