Asia Properties Inc. (ASPZ)

[nuketheshorts]

Asia Properties to Acquire CBD Site in Nanning, China

HONG KONG and BELLINGHAM, Wash., Jan 28, 2008 (PrimeNewswire via COMTEX) --
Asia Properties, Inc. (API) (Pink Sheets:ASPZ) today reported that is has signed
a Letter of Intent to acquire 150 acres of a 506 acre new central business
district site in Nanning, China.

API plans a five star hotel development along with an automobile city and
commercial center. The development cost of this central business district site
is estimated at US$342 million. Nanning is the regional capital of Guangxi
Zhuang Autonomous Region and a gateway to Southwest China and Indochina.

Please read about Nanning: http://www.china.org.cn/market/nanning/403573.htm

Please download our Nanning pdf: http://www.asiaprop.com/project/Nanning.pdf

The Company previously announced on Oct 23, 2007, about its goal to acquire a
minimum of US$500 million in China resort and property assets over the next 12
months. "The closing this acquisition takes us very close to achieving this
goal," said API'S CEO, Daniel McKinney. API plans to complete this acquisition
with restricted shares and cash and is targeted to close within 30 days.

About Asia Properties, Inc.: Asia Properties, Inc. was established to develop
resorts and prime real estate in Southeast Asia. Asia Properties currently
operates as the only listed U.S. public company focusing on S.E. Asian real
estate investments. API is a Nevada corporation and trades on the Pink Sheets
under the symbol "ASPZ." There are currently 39,115,112 fully diluted shares
consisting of 16,672,740 free trading and 22,357,376 restricted. The transfer
agent is Computershare, Inc. of Golden, Colorado.

The Asia Properties, Inc. logo is available at
http://www.primenewswire.com/newsroom/prs/?pkgid=1733

Statements, which are not historical facts, are forward-looking statements. The
Company, through its management, makes forward-looking public statements
concerning its expected future operations, performance and other developments.
Such forward-looking statements are necessary estimates reflecting the Company's
best judgment based upon current information and involve a number of risks and
uncertainties, and there can be no assurance that other factors will not affect
the accuracy of such forward-looking statements. It is impossible to identify
all such factors, factors which could cause actual results to differ materially
from those estimated by the Company. They include, but are not limited to,
government regulation, managing and maintaining growth, the effect of adverse
publicity, litigation, competition and other factors which may be identified
from time to time in the Company's public announcements.

This news release was distributed by PrimeNewswire, www.primenewswire.com

SOURCE: Asia Properties, Inc.


By Staff

CONTACT: Asia Properties, Inc.
Daniel McKinney
[e-mail]
http://www.asiaprop.com
Investor Relations
Dennis Burns
567-237-4132
[e-mail]
www.nvestrain.com


(C) Copyright 2007 PrimeNewswire, Inc. All rights reserved.



INDUSTRY KEYWORD: Real Estate
SUBJECT CODE: REAL ESTATE
ACQUISITIONS
INTERNATIONAL
Mergers and Acquisitions