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Universal Travel Group Inc. (UTVL) RSS Feed

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Universal Travel Group Retains CCG Investor Relations

Aug 6, 2008 2:00:00 PM

 

SHENZHEN, China, Aug. 6 /Xinhua-PRNewswire-FirstCall/ -- Universal Travel Group (OTC Bulletin Board: UTVG) ("Universal Travel Group" or the "Company"), a fast growing travel services provider in China specializing in online and customer representative services to the travel service industry offering packaged tours, air ticketing, hotel reservation and air cargo agency services, today announced that it has retained CCG Investor Relations ("CCG") to design and execute its investor relations campaign.

Founded in 1998, Universal Travel Group is engaged in the travel business and the provision of travel related services, including airline ticketing, packaged tours, hotel reservation and air cargo agency services, and technological solutions for travel reservations. With headquarters in Shenzhen, Guangdong province, the Company is led by an experienced management team. Universal Travel Group's 100% owned subsidiaries in China are Shenzhen Yuzhilu Aviation Service Co., Ltd., specializing in air ticketing; Speedy Dragon, specializing in air cargo agency services; Xi'an Golden Net, specializing in travel packaged tours; Shanghai LanBao, specializing in hotel reservations and Foshan Overseas International, specializing in overseas travel. Currently, about 60% of the Company's revenue is derived from packaged tour services. The online travel market is an emerging, fast-growing, and highly fragmented industry in China. Universal Travel Group has been able to achieve a leading position in this market with a strong and sustainable first-mover advantage in a duopoly market. Universal Travel Group has been leading the trend in the industry by initially engaging in the air-ticketing services business and then successfully integrating the air cargo agency, online hotel booking and packaged tours businesses into it.

"We look forward to working with CCG to improve our communication with the investment community and the financial media as we pursue our goal of becoming China's leading online travel services provider in all fields of the tourism industry including air-ticketing services, air cargo agency services, hotel booking and tour packaging business segments," said Ms. Jiangping Jiang, Chairperson and CEO of Universal Travel Group.

With the tremendous publicity surrounding the 2008 Beijing Olympic Games approaching, the volume of travelers in and out of China will definitely bring enormous market opportunities. Additionally, the disposable income of the average Chinese consumer is expected to increase, and the Company believes this will immediately translate to greater demand for air travel and vacations. The World Travel Association stated that China's vacation and commercial travel market is expected to maintain a growth rate of 10% per year over the next 10 years.

"We are excited to be working with such a promising client in the growing travel industry in China," said Crocker Coulson, President of CCG. "Universal Travel Group clearly distinguishes itself from industry peers with its consistent operating history, and management expertise. With its services reaching extensively nationwide, it is also known for tour packages to the Silk Road and Tibet. Internationally, it also provides packaged tours to destinations such as Southeast Asia and Europe, and has plans to reach the USA and Canada."

About Universal Travel Group

Universal Travel Group, a fast growing travel services provider in China, is engaged in providing reservation, booking, and domestic and international travel and tourism services throughout China via the internet and through customer representatives. Under the theme "Wings towards a more colorful life" the Company's core services include tour packaging for customers, booking services for air tickets and hotels as well as air cargo transportation. In 2007, Universal Travel Group completed the acquisitions of Speedy Dragon, specializing in air cargo transportation; Xi'an Golden Net, specializing in travel packaged tours; Shanghai LanBao, specializing in hotel reservation and Foshan Overseas International, a China-based company that handles domestic and international travel inquiries. Universal Travel Group's goal is to become China's leading travel services provider in all fields of the tourism industry including the aviation, cargo, hotel booking and tour packaging segments. For more information, visit http://us.cnutg.com .

About CCG

CCG is uniquely positioned to provide an outsourced, high-level investor relations solution that combines in-depth understanding of Asia's corporate culture and economic scene with a direct pipeline into the leading funds and broker-dealers in the United States. CCG is a global, full-service investor relations agency with corporate headquarters in Los Angeles, and offices in New York, Newport Beach, Dallas, Beijing, Shanghai and Shenzhen. For further information, contact CCG or visit the Company's website at http://www.ccgir.com .

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release contains certain statements that may include 'forward- looking statements' within the meaning of federal securities laws. All statements, other than statements of historical facts, included herein are 'forward-looking statements'. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the Company's ability to successfully expand its market presence and those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward- looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

 

 

Universal Travel Group Closes $7.11 Million PIPE Financing

Group of Seasoned Institutional Investors Acquire an Additional 5MM Shares of Stock from a Non-Management Shareholder

Sep 3, 2008 8:00:00 AM

SHENZHEN, China, Sept. 3 /Xinhua-PRNewswire-FirstCall/ -- Universal Travel Group Inc. (OTC Bulletin Board: UTVG) (''Universal Travel Group'' or the ''Company''), a growing travel services provider in the People's Republic of China specializing in online and customer representative services to the travel service industry offering packaged tours, air ticketing, hotel reservation and air cargo agency services, today announced that it has successfully closed a private placement financing with established institutional investors with extensive experience investing in the People's Republic of China including Chinamerica Fund LP, Access America Fund, Pope Investments II LLC, Heller Capital, and Investment Hunter, LLC (collectively, ''Investors''). In the PIPE transaction, the Company issued and sold to Investors approximately 4.8 million shares of the Company's common stock at a purchase price of $1.55 per share, for an approximate aggregate purchase price of $7.11 million, which closed on August 29, 2008

Proceeds from the private placement will be used for general corporate development, specifically projects relating to online integration.

''We are determined to capture the opportunities presented by the tourism and business travel markets in China and will use the proceeds to fuel our growth initiatives,'' said Ms. Jiangping Jiang, CEO of Universal Travel Group. ''We are also pleased that such respectable institutional investors have recognized us and placed their confidence in our long-term growth plans."

''We are very excited about the growth prospects of Universal Travel Group,'' stated Christopher Efird of Access America. ''Given the value of other public travel services providers, we believe that Universal Travel Group is one of the Chinese companies in the space with the most potential to build on its current platform to provide premium services to consumers and build significant franchise value for its shareholders.''

In addition to the PIPE transaction, on August 14, 2008, Access America Fund, Chinamerica Fund LP and Pope Investments II LLC purchased 5 million shares of UTVG from a non-management shareholder of the Company. The Stock Purchase Agreement included a mutual general release of all future claims from China Finance, Inc. and affiliates. Information about the private sale of 5 million shares is available in the Company's current report on Form 8-K which was filed with the Securities and Exchange Commission on August 1, 2008.

"While we did not receive any proceeds from the 5 million share purchase transaction, we were pleased to see that the shares are now held by long term institutional investors that have track records of success in growth investments,'' said Ms. Jiang.

''After several months of due diligence, including in-depth analysis of the Chinese travel space, we believed this dynamic company was significantly undervalued. We are hopeful that when the investment community at large recognizes that a group of sophisticated institutional investors with successful track records investing in, and supporting Chinese companies have accumulated a meaningful position in UTVG that, over time, shareholder value will rise to intrinsic levels. In addition to acquiring this large block of stock from a single non-management shareholder, we had enough confidence in the Company to place the PIPE financing at a premium to the retail price per share in the open market, something rarely done in our space,'' said Beau Johnson of Chinamerica Fund.

The securities issued in the PIPE have not been registered under the Securities Act of 1933, as amended, and may not be sold by the investor in the United States, except pursuant to an effective registration statement or an applicable exemption from the registration requirements. The Company has agreed to file a registration statement covering the re-sale of the securities by the investor.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

About Universal Travel Group Inc.

Universal Travel Group, a fast growing travel services provider in China, is engaged in providing reservation, booking, and domestic and international travel and tourism services throughout China via the internet and through customer representatives. Under the theme "Wings towards a more colorful life" the company's core services include tour packaging for customers, booking services for air tickets and hotels as well as air cargo transportation. In 2007, Universal Travel Group completed the acquisitions of Speedy Dragon, specializing in air cargo transportation; Xi'an Golden Net, specializing in travel packaged tours; Shanghai LanBao, specializing in hotel reservation and Foshan Overseas International, a China-based company that handles domestic and international travel inquiries. Universal Travel's goal is to become China's leading travel services provider in all fields of the tourism industry including the aviation, cargo, hotel booking and tour packaging segments. For more information, visit http://us.cnutg.com .

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release contains certain statements that may include 'forward- looking statements' within the meaning of federal securities laws. All statements, other than statements of historical facts, included herein are 'forward-looking statements'. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the Company's ability to successfully expand its market presence and those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward- looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

 

Universal Travel Group Launches Integrated Website www.cnutg.com.cn

Sep 8, 2008 8:00:00 AM

SHENZHEN, China, Sept. 8 /Xinhua-PRNewswire-FirstCall/ -- Universal Travel Group (OTC Bulletin Board: UTVG) ("Universal Travel Group" or the "Company"), a fast growing travel services provider in China specializing in online and customer representative services to the travel service industry offering packaged tours, air ticketing, hotel reservation and air cargo agency services, today announced that launched its new website www.cnutg.com.cn with powerful features integrating its three business lines, at midnight on September 1st, 2008 Beijing Time, or noon on September 1st, 2008 E.D.T.

The new website is a further step to integrate the Company's diversified services into a new platform with selected value-added features and information. Universal Travel Group has teamed with www.mapbar.com to fully utilize the best map search engine available today to provide online users easy navigation for tourist information and assist them in decision making. For example, new features guide users through a series of questions related to distance, mode of transportation, recommended tourist attractions, entertainment and dining options around preferred destinations.

"We are excited to launch a new website that offers practical and value added information," said Ms. Jiangping Jiang, CEO of Universal Travel Group. "The new website provides visitors with an intuitive glimpse into travel in China. Around 500 hotel rooms and tourist attractions are available online with 360 degree views, and this number will increase to 1,000 by the end of 2008 as we continue to build our proprietary database. We are also working on an English platform and plan to launch it by the end of this year to facilitate interest with visitors outside of China. As we continue to enhance our online service, we hope that domestic and international travelers in China will benefit from it, as well as those who travel in regions outside of China."

About Universal Travel Group

Universal Travel Group, a fast growing travel services provider in China, is engaged in providing reservations, bookings, and domestic and international travel and tourism services throughout China via the internet and through customer representatives. Under the theme "Wings towards a more colorful life" the company's core services include tour packaging for customers, booking services for air tickets and hotels as well as air cargo transportation. In 2007, Universal Travel Group completed the acquisitions of Speedy Dragon, specializing in air cargo agency; Xi'an Golden Net, specializing in travel packaged tours; Shanghai LanBao, specializing in hotel reservations and Foshan Overseas International, a China-based company that handles domestic and international travel inquiries. Universal Travel Group's goal is to become China's leading travel services provider in all fields of the tourism industry including the aviation, cargo, hotel booking and tour packaging segments. For more information, visit http://us.cnutg.com .

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release contains certain statements that may include 'forward-looking statements' within the meaning of federal securities laws. All statements, other than statements of historical facts, included herein are 'forward-looking statements'. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the Company's ability to successfully expand its market presence and those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

 

Universal Travel Group Unveils TRIPEASY Kiosks Travel Solution

Sep 25, 2008 10:00:00 AM

SHENZHEN, China, Sept. 25 /Xinhua-PRNewswire-FirstCall/ -- Universal Travel Group Inc. (OTC Bulletin Board: UTVG) ("Universal Travel Group" or the "Company"), a growing travel services provider in the People's Republic of China ("PRC") specializing in online and customer representative services to the travel service industry offering packaged tours, air ticketing, hotel reservation and air cargo agency services, today announced that it has unveiled a brand new option to book travel reservations in the PRC, the TRIPEASY Travel Service Kiosks ( the "Kiosks").

The Kiosks are interactive terminals placed in strategically targeted public areas. They will enable convenient, fast and easy to use, real-time air ticketing inquiries, reservations and purchases, as well as hotel and tour reservations. The Kiosks will provide full 360¡ã views of hotels and travel destinations and accept payment via bank cards, debit cards and VISA. According to Credit Suisse Research, the number of domestic travelers in the PRC that use online travel services continues to rise, accounting for 16% of users in 2007, up from 12% in 2005. The Company initially plans to introduce the Kiosks in selected major cities in the PRC, with approximately 600 Kiosks to be rolled out this year if the result of beta testing passes a set of pre- determined criteria over a one-month trial period ending in October 2008. Major cities such as Shanghai and Shenzhen have a higher proportion of people using online travel services as compared to the rest of the PRC, representing 23% and 20% of the users in 2007, respectively. According to the China Internet Network Information Center, the PRC is the world's largest market for internet users. Despite this, 95% of internet users still do not make purchases over the internet. The TRIPEASY Kiosks will eliminate the need for a personal computer or online access in order to make travel arrangements and are specifically targeted at this demographic of users.

Universal Travel Group plans a nationwide rollout to major cities in the PRC within the next two years. The Kiosks will be located everywhere including airports, hotels, office buildings, banks, shopping malls and MTR stations. The Company will promote the Kiosks via local media such as newspapers, billboards and internet ads, including its own award-winning website, http://www.cnutg.com , as well as other related websites, which will in turn further the Company's brand recognition. The Kiosks themselves will provide a strong media platform to strengthen Universal Travel Group's franchise. Additionally, the Kiosks' interface will feature the same look, feel and functionality as Universal Travel Group's new website, http://www.cnutg.com.cn , which integrates the Company's diversified services into a new platform with selected value- added features and functionality.

"We are pleased to have unveiled this unique solution to help us capture a greater share of the growing domestic tourism market and business travel markets in the PRC," said Ms. Jiangping Jiang, CEO of Universal Travel Group. "The Kiosks will enable us to better serve our customers 24 hours a day, 7 days a week. The Kiosks will also serve as a media platform to promote our services and increase our brand recognition."

About Universal Travel Group Inc.

Universal Travel Group, a growing travel services provider in the People's Republic of China, is engaged in providing reservation, booking, and domestic and international travel and tourism services throughout the PRC via the internet and through customer representatives. Under the theme "Wings towards a more colorful life" the company's core services include tour packaging for customers, booking services for air tickets and hotels as well as air cargo transportation. In 2007, Universal Travel Group completed the acquisitions of Speedy Dragon, specializing in air cargo transportation; Xi'an Golden Net, specializing in travel packaged tours; Shanghai LanBao, specializing in hotel reservation and Foshan Overseas International, a PRC-based company that handles domestic and international travel inquiries. Universal Travel's goal is to become the PRC's leading travel services provider in all fields of the tourism industry including the aviation, cargo, hotel booking and tour packaging segments. For more information, visit http://us.cnutg.com .

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release contains certain statements that may include "forward- looking statements" within the meaning of federal securities laws. All statements, other than statements of historical facts, included herein are "forward-looking statements". Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the Company's ability to successfully expand its market presence and those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward- looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

 

Nov 5, 2008 8:00:00 AM

SHENZHEN, China, Nov. 5 /Xinhua-PRNewswire/ -- Universal Travel Group Inc. (OTC Bulletin Board: UTVG) ("Universal Travel Group" or the "Company"), a growing travel services provider in the People's Republic of China ("PRC") specializing in online and customer representative services to the travel service industry offering packaged tours, air ticketing, hotel reservation and air cargo agency services, today announced that the Company will present at the upcoming Roth Capital China Comes to Vegas Conference held from November 19 - 21, 2008 at the Wynn in Las Vegas, Nevada. Details of Universal Travel Group's presentation at the conference are as follows:

     Date:       Friday, November 21, 2008     Time:       12:00 p.m. EST     Presenter:  Jing Xie, Secretary of the Board and Vice President     Venue:      Palmer 1 - Track 1                 The Wynn Las Vegas                 3131 Las Vegas Blvd. South                 Las Vegas, NV 89109 

The Roth Capital China Comes to Vegas Conference is a three-day event that is dedicated to only Chinese-based, US listed companies. The conference will bring together executives from more than 70 companies with an average market cap of $300 million. During the conference, the Company will be available to meet with analysts and portfolio managers. Participation in the Roth Capital China Comes to Vegas Conference is by invitation only. Further information can be found at http://www.roth.com .

About Universal Travel Group Inc.

Universal Travel Group, a growing travel services provider in the People's Republic of China, is engaged in providing reservation, booking, and domestic and international travel and tourism services throughout the PRC via the internet and through customer representatives. Under the theme "Wings towards a more colorful life" the company's core services include tour packaging for customers, booking services for air tickets and hotels as well as air cargo transportation. In 2007, Universal Travel Group completed the acquisitions of Speedy Dragon, specializing in air cargo transportation; Xi'an Golden Net, specializing in travel packaged tours; Shanghai LanBao, specializing in hotel reservation and Foshan Overseas International, a PRC-based company that handles domestic and international travel inquiries. Universal Travel's goal is to become the PRC's leading travel services provider in all fields of the tourism industry including the aviation, cargo, hotel booking and tour packaging segments. For more information about the company, please visit http://us.cnutg.com , and http://www.cnutg.com.cn for service website.

 

Universal Travel Group Announces Strong Third Quarter 2008 Results

-- Raises full year guidance to revenue of $72-$74 million and net income of $13.5 to $14.5 million, or 32 to 35 cents per share

Nov 5, 2008 4:38:00 PM

SHENZHEN, China, Nov. 5 /Xinhua-PRNewswire-FirstCall/ -- Universal Travel Group Inc. (OTC Bulletin Board: UTVG) ("Universal Travel Group" or the "Company"), a growing travel services provider in the People's Republic of China ("PRC") specializing in online and customer representative services to the travel service industry offering packaged tours, air ticketing, hotel reservation and air cargo agency services, today announced its strong financial results for the third quarter ended September 30, 2008.

     Third Quarter of 2008 Highlights      -- Revenue reached a record $22.9 million, up 78.7% year-over-year     -- Gross profit totaled $7.9 million, up 74.4% year-over-year     -- Net income was $4.6 million or $0.22 per fully diluted share, up 50.9%        year-over-year from $3.1 million, or $0.16 per fully diluted share, in        the same quarter of 2007     -- Successfully closed a PIPE financing of $7.1 million with a group of        seasoned investors     -- Launched new online booking website, www.cnutg.com.cn, with travel        information and 360¡ã view photos of sight-seeing destinations and hotel        rooms     -- Started beta testing of TRIPEASY Kiosks aimed at business travelers and        those who have no access to the internet  

"We are extremely pleased with the significant increase in all segments of our travel businesses during the third quarter, the result of the high travel season and positive effects from the Beijing Olympics Games," said Ms. Jiangping Jiang, Chairwoman and CEO of Universal Travel Group. "We plan to carefully monitor the testing and rollout of our TRIPEASY Kiosks. We expect to start generating revenue from this innovative product beginning in 2009, which will contribute to our future growth and expand our brand recognition as a leader in the travel industry in the PRC."

Third Quarter of 2008 Results

Revenue for the three months ended September 30, 2008 was $22.9 million compared to $12.8 million for the same period of 2007, an increase of approximately 78.7%. This increase is due to the company's strategic expansion into the hotel reservation and packaged tours business via the acquisitions of Xi'an Golden Net Travel Service Company Limited, Shanghai Lanbao Travel Service Company Limited and Foshan Overseas International Travel Service Co., Ltd.

Gross profit for three months ended September 30, 2008 was $7.9 million compared to $4.5 million for three months ended September 30, 2007, an increase of approximately 74.4%. The increase in gross profit reflects the company's strategic expansion into the profitable hotel reservation and packaged tours business via the acquisitions. The increase also reflects the results of efficient management and control of operations by an experienced management team.

Selling, general and administrative expenses for three months ended September 30, 2008 totaled $1.9 million compared to $812,464 for three months ended September 30, 2007, an increase of approximately 136.0%. Selling, general and administrative expenses were approximately 8.4% of revenue for three months ended September 30, 2008 as compared to 6.3% for three months ended September 30, 2007. The increase in selling, general and administrative expenses reflects the increase in the Company's expenses as a result of the acquisitions of Xi'an Golden Net Travel Service Company Limited, Shanghai Lanbao Travel Service Company Limited and Foshan Overseas International Travel Service Co., Ltd.

Net income was $4.6 million, or 20.2% of revenue, for three months ended September 30, 2008, compared to $3.1 million, or 23.9% of revenue, for three months ended September 30, 2007. The increase in net income reflects the continued growth in the Company's business and the income derived from the acquisitions of Xi'an Golden Net Travel Service Company Limited, Shanghai Lanbao Travel Service Company Limited and Foshan Overseas International Travel Service Co., Ltd. The decrease in net income as a percentage of revenue is the result of the acquisitions of lower net income margin businesses. By integrating the different business segments and leveraging off the synergies between such segments, the Company expects that net income margin could be improved over time.

Nine Month Results

Revenue for the nine months ended September 30, 2008 was $47.3 million compared to $26.8 million for nine months ended September 30, 2007, an increase of approximately 76.6%. Gross profit for the nine months ended September 30, 2008 was $14.9 million, compared to $9.4 million for nine months ended September 30, 2007, an increase of approximately 58.4%. Gross profit margin for nine months ended September 30, 2008 was 31.4%, compared to 35.0% for nine months ended September 30, 2007. Selling, general and administrative expenses for nine months ended September 30, 2008 totaled $4 million, compared to $2.2 million for nine months ended September 30, 2007. Interest expense for nine months ended September 30, 2008 totaled $78,525 compared to $42,724 for nine months ended September 30, 2007, an increase of approximately 83.8%. Net income was $8.2 million or 17.3% of revenue for the nine months ended September 30, 2008, compared to $5.4 million or 20.0% of revenue for the nine months ended September 30, 2007.

Financial Condition

As of September 30, 2008, Universal Travel Group had $12.6 million in cash and cash equivalents, $24.1 million in working capital and a current ratio of 6.6:1. The Company has no long-term debt.

The Company generated $2.9 million in cash from operating activities for the nine months ended September 30, 2008, which resulted primarily from the company's increase of business activities and trade deposits, and seasonal decrease of accounts payable, compared to cash provided by operating activities of $5.3 million in the same period last year. The Company received proceeds of $7.1 million from an equity financing in the third quarter from a group of seasoned investors to support corporate development initiatives.

Business Outlook

Despite the recent economic slowdown worldwide, the Company continues to experience strong demand for its products and services. Universal Travel Group has built resilience with integrated and diversified services, aiming to capture a greater share of the travel market in the long run. In the PRC, an increasing number of Internet users book hotels through the Internet, and this option has gradually replaced traditional phone call bookings as the primary method. Furthermore, the PRC is expected to be one of the most attractive countries for tourism with developed cities on the east coast and southern part of the PRC and wonderful natural resources and rich cultural landscapes in the west.

Universal Travel Group believes the outlook for its all travel segments remains attractive. The Company anticipates demand for its travel products and services to continue due to the PRC's rising middle class, world class conventions scheduled to be held in the PRC and appreciation of the Chinese Yuan. In addition, the Company is methodically executing its Kiosks' business plan with proceeds from its recent financing to provide unique services, and increase its profitability.

"In the midst of the current economic slowdown, the PRC's consumption continues to rise. We believe the travel sector will continue to push ahead into the future. This provides significant opportunities for us," said Jiangping Jiang. "We believe Universal Travel Group's strategy to provide integrated travel products and services should enable further opportunities to enhance shareholder value."

Based on greater-than-expected third quarter results, the Company is increasing its forecast for full-year 2008 revenue to a range of $72 million to $74 million from revenue of $69 million to $73 million; net income to a range of between $13.5 million and $14.5 million from net income of $12 million to $14 million, not including stock based compensation; earnings per share to a range of between $0.32 to $0.35 from earnings per share of between $$0.29 to $0.33.

Conference Call Information

The Company will host a conference call at 9:00 a.m. E.S.T. on Thursday, November 6, 2008 to discuss results for the third quarter of 2008. To participate in the live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: 888-339-2688. International callers should dial 617-847-3007. When prompted by the operator, mention Conference passcode 870 055 11. If you are unable to participate in the call at this time, a replay will be available for 14 days starting on Thursday, November 6 at 11:00 a.m. E.S.T. To access the replay, please dial 888-286-8010 and enter the passcode 91725351. International callers should dial 617-801-6888 and enter the same passcode 91725351.

About Universal Travel Group Inc.

Universal Travel Group, a fast growing travel services provider in China, is engaged in providing reservation, booking, and domestic and international travel and tourism services throughout China via the internet and through customer representatives. Under the theme "Wings towards a more colorful life" the company's core services include tour packaging for customers, booking services for air tickets and hotels as well as air cargo transportation. In 2007, Universal Travel Group completed the acquisitions of Speedy Dragon, specializing in air cargo transportation; Xi'an Golden Net, specializing in travel packaged tours; Shanghai LanBao, specializing in hotel reservation and Foshan Overseas International, a China-based company that handles domestic and international travel inquiries. Universal Travel's goal is to become China's leading travel services provider in all fields of the tourism industry including the aviation, cargo, hotel booking and tour packaging segments. For more information, visit http://us.cnutg.com.

Universal Travel Group to Present at China International Travel Mart 2008 in Shanghai

Nov 18, 2008 9:00:00 AM

SHENZHEN, China, Nov. 18 /PRNewswire-FirstCall/ -- Universal Travel Group Inc. (OTC Bulletin Board: UTVG) ("Universal Travel Group" or the "Company"), a growing travel services provider in the People's Republic of China ("PRC") specializing in online and customer representative services to the travel service industry offering packaged tours, air ticketing, hotel reservation and air cargo agency services, today announced that the Company will present at the upcoming China International Travel Mart 2008 in Shanghai from November 20-23, 2008 at the Shanghai New International Expo Center. Details of Universal Travel Group's presentation at the exposition are as follows:

     Date:  Thursday November 20, 2008 - Sunday November 23, 2008     Venue: Shanxi Exhibition Hall            Shanghai New International Expo Center 

The Company plans to establish more affiliations during the exhibition. It will also showcase its TRIPEASY Kiosks, seek to expand its hotels and tourism site resources, and promote Xi'an and West China sightseeing to foreign travel agencies.

In an ongoing effort to better satisfy consumers' preferences with more user-friendly features, the company's signature TRIPEASY Kiosks are now installed with an upgraded interface, which can be viewed at http://www.cnutg.com.cn .

About China International Travel Mart

China International Travel Mart ("CITM") is an annual event that is held on an alternate basis in Shanghai and Kunming. As the largest professional travel mart in Asia, CITM has drawn the attention of people in the tourism industry worldwide. Participants in CITM come from all sectors of the travel industry including international and domestic tourism organizations, travel agencies, hotels, airlines and related travel companies. Further information can be found at http://www.citm.com.cn/en .

About Universal Travel Group Inc.

Universal Travel Group, a growing travel services provider in the People's Republic of China, is engaged in providing reservation, booking, and domestic and international travel and tourism services throughout the PRC via the internet and through customer representatives. Under the theme "Wings towards a more colorful life" the company's core services include tour packaging for customers, booking services for air tickets and hotels as well as air cargo transportation. In 2007, Universal Travel Group completed the acquisitions of Speedy Dragon, specializing in air cargo transportation; Xi'an Golden Net, specializing in travel packaged tours; Shanghai LanBao, specializing in hotel reservation and Foshan Overseas International, a PRC-based company that handles domestic and international travel inquiries. Universal Travel's goal is to become the PRC's leading travel services provider in all fields of the tourism industry including the aviation, cargo, hotel booking and tour packaging segments. For more information about the company, please visit http://us.cnutg.com and http://www.cnutg.com.cn for the service website.

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