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Good Life China Corp (GLCC) Expansion And Corporate Update

BEIJING, June 2, 2008 /PRNewswire-FirstCall via COMTEX/ -- PINKSHEETS: GLCC www.goodlifechina.com begins June 2008 operations with 9 new stores, two are in Cangzhou, five are in Beijing, two are in Shijiazhuang. The company has signed up 15 new suppliers with audited online transaction of 1,682,200. The company sum of distribution is 117,760; and income of membership is 48,000; the income of distribution is 58,900. All sums reported in Chinese Yuan and converted in USD in company filings.
In other company updates, Mr. Yang, a company spokesperson, said: "The company has identified a couple of possible buyers for some of its North American assets. We were particularly interested in small public companies or at least much smaller size than us, and those that demonstrate vertical growth opportunities in their sector. Our reasoning is twofold. One reason is we are currently considering, and evaluating our corporate adviser's recommendation of spinning out this sale proceeds as a 1 time special dividend to our shareholders. At present, "insiders" own 80 million shares of GLCC. The second reason is, as currently issued restricted shares mature and become free trading (currently at 32 million shares), the company sees this dividend payment as one of the first of several incentives to attract long term shareholders instead of day traders and stock traders. GLCC is looking to reward its long term shareholders with this dividend, and also to target a buyer whose business growth will appreciate the dividends values for our shareholders far in excess of the present purchase price or agreed value. The issuer will make further updates on this planed sale/dividend, and expects to close the transaction in the next 30-45 days."

Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.

SOURCE Good Life China Corporation