Asia Properties Inc. (ASPZ)

[nuketheshorts]

Asia Properties Signs MOU to Acquire Macau Casino
Asia Properties Signs MOU to Acquire Macau Casino
NEWS!!

Nov. 19, 2009 (GlobeNewswire) --

HONG KONG and BELLINGHAM, Wash., Nov. 19, 2009 (GLOBE NEWSWIRE) -- Asia Properties, Inc. (API) (Pink Sheets:ASPZ) announced today that it has signed a Memorandum of Understanding "MOU" to acquire 50.13% of a Macau casino VIP club.

Sing Hou VIP Club ("Sing Hou") located in Star World Hotel has been in operation since November 2008 under a VIP Promoter sub-license from Galaxy Entertainment Group. (See http://www.starworldmacau.com/en/entertainment/vip_club.htm) Sing Hou operates VIP baccarat gaming tables and has an aggressive expansion planned for 2010. A surge of activity at Macau's baccarat tables has pushed casino revenues to a record HK$11.27 billion (US$1.45 billion) in August. Baccarat accounts for 88 percent of total Macau casino winnings in the year to September, and revenues are up by 53 percent this year.

Daniel McKinney, API's CEO, commented, "I am pleased to inform API shareholders that we are acquiring control of an established Macau VIP club casino at the top end and most profitable sector of the market. The Macau gaming market is already the largest in the world and API plans to become a significant player in the VIP sector through this acquisition. Unlike the Sands or Wynn, API is a pure Macau gaming play."

The casino acquisition will be for restricted shares and is anticipated to close before January 17, 2010. Shareholders will be advised of the acquisition details as soon as possible after the closing.

About Asia Properties, Inc.: Asia Properties, Inc. was established to develop resorts and prime real estate in Southeast Asia. API is a Nevada corporation and trades on the Pink Sheets under the symbol "ASPZ." There are currently 35,474,362 fully diluted shares consisting of 11,965,626 restricted and 23,508,736 free trading. The transfer agent is Transfer Online, Inc. of Portland, Oregon.

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

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.

CONTACT: Asia Properties, Inc.
Daniel McKinney
[e-mail]
http://www.asiaprop.com

Investor Relations
Dennis Burns
419-951-4842
[e-mail]
www.nvestrain.com