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GLCC' News /C O R R E C T I O N from Source -- Good Life Chin...

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Monday, June 16, 2008 3:56 PM

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News for 'GLCC' - (/C O R R E C T I O N from Source -- Good Life China Corporation/ In TO233 transmitted Friday, June 13, at 16:03e, an error occurred in the second paragraph. The URL http://www.pinksheets.com/pink/quote/quote.jsp?symbol=HKBV should have read http://www.pinksheets.com/pink/quote/quote.jsp?symbol=GLCC. Corrected copy follows. Good Life China Corp (GLCC) Recalls Dividends)


BEIJING, June 14, 2008 /PRNewswire-FirstCall via COMTEX/ --


PINKSHEETS: GLCC

www.goodlifechina.com Good Life China Corp today after the market closed

announced that it has notified Cede Co and Penson of its notice of a dividend

recall. The issuer recently issued approximately 12 million shares as a

special 1 time 1:1 dividend payout to its shareholders. The issuer verily

believes that its security is a subject of naked shorting activities, and that

a large short position of its security exists. See:

http://en.wikipedia.org/wiki/Naked_short_selling#

Naked_shorts_in_the_United_States

and http://www.investopedia.com/terms/n/nakedshorting.asp as an example of

naked shorting. The situation is further exacerbated by circumstances beyond

the issuer's control.



The issuer also today filed a copy of its recall notice with Pink Sheets
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=GLCC which is self
explanatory.

To our shareholders, the recall of the dividend does not mean that the dividend
is cancelled. It means the issuer intends to re-release these dividends back to
its shareholders as soon as it has completed its share count audit and its
mission to have and to force the short positions to cover. Moreover the issuer
wants to insure that the re-distributed dividend, are properly distributed to
its shareholders in accordance with the issuer's instructions.

The issuer's share count remains undisturbed at 450 million authorized and 169
million outstanding.

The issuer's security continues to be listed on the Rule 3210 with Nasdaq Trader
(see link) as aggregates continuously fail to deliver its security.
http://www.nasdaqtrader.com/Trader.aspx?id=RegSHOThreshold The issuer is of the
opinion that the abuse is excessive. The issuer is taking this and other soon to
be announced steps to insure that the shorted stock is covered in accordance
with the rules.

The company intends to take further steps as it sees fit, as per its previous
news release of May 10, 2008 May 20, 2008 and June 10, 2008 including other
LEGAL measures that may be available to its disposal to rein in these
activities. The issuer, in order to restore its rapidly declined share price and
in order to protect the interests of the issuer's common shareholders intends to
take further steps without disrupting the trading activities of its security.

The issuer expects its determined critics aka (stock bashers) dressed up as
"concerned shareholders" to be out in full force pending this announcement. The
issuer brings the following link and AUDIO PRESENTATION to its true
shareholders' attention which is self explanatory
http://www.minamargroup.net/duallisting.php.

Contact: www.minamargroup.com/helpdesk

Safe Harbor statement under the Private Securities Litigation Reform Act of
1995: Certain forward information contained in this release contains
forward-looking statements that involve risk and uncertainties, including but
not limited to, those relating to development and expansion activities, domestic
and global conditions, and market competition.

SOURCE Good Life China Corporation



www.prnewswire.com


Copyright (C) 2008 PR Newswire. All rights reserved

-0-




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