BRIEF-China ocean fishing says unit entered into memorandum of understanding

March 15 (Reuters) - China Ocean Fishing Holdings Ltd

:

* Unit entered into a memorandum of understanding

* Vendors proposed to sell , in aggregate, 70% equity

interest in shenzhen qisen fishery company limited*

* Jin yu tang shenzhen fishery entered into a memorandum of

understanding with chen suifang and zou lian

* Consideration for memorandum and exclusivity period as

well as commencement of due diligent review is rmb5 million

* Consideration under formal sale and purchase agreement

will be payable in cash and/or issuing convertible bonds by

company

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