Digital Receives LOI for 2 Million Dollar Back Up Line of Credit

CITY OF INDUSTRY, Calif., Jun 16, 2010 (BUSINESS WIRE) –Digital Development Partners, Inc., /quotes/comstock/11k!dgdm (DGDM 0.25, -0.05, -16.67%) the exclusive distributer and servicing provider for the EFT-Smartphone, announced today that it has received from its majority owner a letter of intent to provide a working line of credit if needed of up to 2 million dollars. as announced earlier Digital is scheduled to deliver its first shipment of Smartphones to EFT International by the end of June. Digital received its first order of 100,000 Smartphones in May 2010 which, when fully delivered, should generate over twenty million dollars in revenues for the company excluding servicing fees and accessories.

Jack Qin, Chairman and CEO, stated, “The working line of credit will reassure the investors in our stock and our service subscribers that we will have access to cash should we need it to continue the build-out of our network and service centers throughout China and Southeast Asia. Our primary goal of 100,000 Smartphones, we feel will be reached with only obtaining a 10% penetration rate of the over 1 million EFT registered affiliates. we also plan to offer the EFT-Smartphone to other organizations like EFT which have a large number of end-user customers.”

About Digital

Digital plans to distribute and service the EFT Mobile PDA Smartphone to EFT’s base of affiliated members throughout Asia. The unique aspect of the EFT-Smartphone is that EFT affiliates will be able to speak with all other affiliates at no charge while in a Wi-Fi location utilizing VoIP technology. another unique aspect is the additional Apps that will allow the EFT affiliate base to access all their back office sites including their Funds Management Account where the affiliate will be able to deposit funds to make purchases, withdraw and transfer money to another EFT account or to another EFT affiliate at no cost for the internal transfer. The EFT-Smartphone will have educational applications and PowerPoint presentations for recruiting and training new affiliate members anywhere in the world.


This release may contain forward-looking statements. Investors are encouraged to carefully review regulatory filings prior to investment consideration. past performance is no guarantee of future success or that there cannot be business interruption. The Company is in a rapid growth sector that may or may not continue to grow in the future and therefore poses risks that may be different than other investments. Management regularly provides news and additional information believed to be true and accurate at the time of dissemination but has no requirement to modify, comment or change in the future should circumstances change or information prove to be inaccurate for any reason. Additionally, the Company makes every effort to comply with all applicable law and regulatory concerns but cannot assure investors of any material changes outside of their best efforts. This release does not contain investment advice nor any recommendations to purchase or sell any securities. Consult with your investment professional before making any investments into any securities.

SOURCE: Digital Development Partners, Inc.

Investor Information Digital Development Partners, Inc. Edward Carter, 626-581-3335

Copyright Business Wire 2010

Digital Receives LOI for 2 Million Dollar Back Up Line of Credit

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