Asia Properties Inc. (ASPZ)

[nuketheshorts]

Asia Properties Issues Statement Regarding Share Structure and Market Valuation of Common Shares

BELLINGHAM, Wash. and HONG KONG, Mar 31, 2008 (PrimeNewswire via COMTEX) --
Asia Properties, Inc. (Pink Sheets:ASPZ), today released a statement addressing
several investor inquiries regarding the current corporate share structure and
business outlook.

As of March 27, 2008, there were 39,220,112 shares outstanding giving the
company a market capitalization of $5.88 million based on the closing share
price multiplied by the number of outstanding shares. This equals less than ten
percent (10%) of the Company's real estate assets (not including valuing its
majority stake in MicroArt, Inc. (Pink Sheets:MCRT)), which management believes
is not reflective of the Company's business prospects.

With regards to the Company's operations and performance, the Company had sales
in 2007 exceeding $15 million with a net profit of approximately $2.5 million.
The Company's accounts are currently being audited and we hope to have them
completed soon.

Daniel McKinney, President of API, noted, "Our 2007 profits give us earnings per
share of $0.063 and a PE of 2.51. Asia Properties reaffirms its commitment to
its shareholders that the Company is well positioned for long-term success with
the prospects of the Asian real estate markets."

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 39,220,112 fully diluted shares
consisting of 16,672,740 free trading and 22,462,376 restricted. The transfer
agent is Computershare, Inc. of Golden, Colorado.

For up to date corporate information about Asia Properties, Inc. contact Daniel
McKinney, email: [e-mail] or (http://www.asiaprop.com) For
Investor Relations, call Dennis Burns, Tel [phone], email:
[e-mail], www.nvestrain.com

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.