Sino Express Travel Ltd (fka SXPT)

[asia]

Good SXPT News out:

Sino Express Travel Announces New Property Developments in Yangjiang, China

Sino Express Travel Limited (OTC:SXPT) announced that it has signed a Memorandum of Understanding with Profit Gateway International Limited to acquire properties in Yangjiang, where the Marine Silk Road Museum of Guangdong is located. The first acquisition, of which the cost of US$400,000 would be settled by the issuance of SXPT restricted common shares at 15 cents per share, involves a 6-storey building and is expected to be completed within 60 days. The building has a total area of around 10,000 square foot and it is about 5 minutes from a public beach and 10 minutes from the museum. Sino intends to convert the building to a 40-room budget hotel complex targeting increased tourism demand. Sino projects to generate US$200,000 in revenue and US$100,000 in profit for this building, making this acquisition 2 times the projected revenue. Sino will continue to negotiate with Profit Gateway International Limited for further acquisitions in the area.

Sino previously acquired Southern Silver Resort & Beach, a resort hotel located near the Marine Silk Road Museum. Upon completion, the museum will consist of an exhibition hall on shore and an underground exhibition hall (costing around US$22 million), and it will showcase relics of the so-called maritime Silk Road including sunken ships of the Sung Dynasty (960-1279). Recently, the 800-year-old merchant boat, dubbed the Nanhai No. 1, was hoisted from the bottom of the sea and moved to the museum. The sunken ship, loaded with ancient artifacts, and the museum are sure to attract a lot of interest to Yangjiang, Guangdong province, China. With the newly acquired building, Sino would be able to capture a larger share of the increasing tourism demand to the area.

About Sino Express Travel Limited

Sino Express Travel Limited (www.sinoexpresstravel.com) is an investor and developer of scenic spots and tourist destinations in China. Sino intends to grow its business by acquiring and operating a diversified portfolio of resort hotels and tourist attractions. It plans to search for good value targets at suitable locations in China with high potential for further development in the areas of scenic, cultural and historical extensions.

Forward looking statement

Certain information contained in these materials is “forward-looking” information, such as projections, estimates, pro formas, or statements of intentions, expectations or plans. All forward-looking information is subject to known and unknown risks and uncertainties, many of which are outside of the control of the company. Consequently, actual results may, and probably will, differ materially from the results contemplated in such forward-looking information.


Sino Express Travel Limited
Jinghui Wang, (86) 20-83346112
[e-mail]




Source: Business Wire (January 3, 2008 - 6:32 AM EST)

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