China Yida Holdings (CNYD)

[ciciagt]

Press Release Source: China Yida Holding Company On Tuesday September 28, 2010, 8:30 am EDT
FUZHOU, China, Sept. 28 /PRNewswire-Asia-FirstCall/ --

China Yida Holding Company (Nasdaq:CNYD - News) ("China Yida" or the "Company"), a leading diversified entertainment enterprise in China, today announced that its Yunding Park opened to the public on September 28, 2010, in time to be able to attract peak visitor traffic during the National Holiday.


Yunding Park provides a unique environment of natural attractions and cultural exhibits in a mountainous area that is reached via a cable car. Tourists will be able to enjoy beautiful views at five exceptional sites, including Flower Terrace, Heavenly Lake, Colorful Waterfall, Red River Valley and Jade Valley. Starting from September 15, 2010, China Yida has conducted a series of marketing campaigns through outdoor advertising, newspapers, radio and television to publicize the opening of Yunding Park. As of the opening date, the Company has signed agreements with over 40 tourism agencies to bring tourist groups to Yunding Park.

"We are very excited to announce the grand opening of Yunding Park in time for the National Holidays. As the foremost tourist destination in Fuzhou, the capital city of Fujian province, we expect Yunding Park to make a significant contribution to our financial results in the quarters ahead," commented Dr. Minhua Chen, China Yida's Chairman and Chief Executive Officer.

As had been previously disclosed, the Company's Great Golden Lake destination was damaged by two severe floods on June 18 and July 7, 2010, and was closed to visitors for approximately 30 days. Following a recent inspection and in consultation with Taining local government, the Company decided to postpone the re-opening of Shangqing River attraction to allow additional work to reconstitute the appeal and quality of the tourist experience. All other attractions within the Great Golden Lake, including Golden Lake, Zhuangyuan Rock, Luohan Mountain and Taining Old Town, remain open and are operating well. Following the National Holiday, the Company plans to provide an update regarding visitor traffic to the Great Golden Lake as well as an assessment of the potential impact of a prolonged closure of Shangqing River to its overall business.

"We will continue our effort to restore the Shangqing River and look forward to opening it to tourists as soon as possible," concluded Dr. Chen.
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