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NEWS RELEASE Largo Vista Group, Ltd Tel (714) 252-2180 Fax (714) 252-2181 Symbol LGO V FOR IMMEDIATE RELEASE Largo Vista Group, Ltd Teams with "The Lott Group" Largo Vista Group, Ltd. (LGOV) have agreed to join forces on LGOV'S construction projects in China. TLG, a Houston, Texas based construction company, has agreed to take the lead in LGOV's real estate developments in Shenzhen and SE China. The Lott Group, a 35 year old multi- discipline construction company which has a long list of notable projects to its credit. Among those, The Astro Dome, Houston (the first dome stadium), The Summit-Houston (home of the Houston Rockets), The Hemisphere, San Antonio, Lyndon B, Johnson Hospital-Houston, Children's Museum-Houston-Five Greenspoint Plaza-Houston, Anadarko Petroleum Headquarters-Houston, Ritz-Carlton Hotel-McLean, VA, APA Building-Washington D.C., George R. Brown Institute of Bioscience and Bioengineering, Rice University-Houston, St. Paul Tower-Dallas, TX, Nemours Children's Clinic-Jacksonville, Fl, to name a few. The Lott group, through its housing division Global Contractors, has on-going housing projects in Africa and Mexico as well as numerous projects in the United States. LGOV and Lott plan to satisfy the enormous pent up demand for single family ones in SE China by building western styled manufactured homes. Model homes are currently being transported to Shenzhen where they will be placed in a centrally located sales complex for display. LGOV holds development rights to several properties strategically located in Shenzhen, 30 miles from Hong kong, and in other SE China provinces. China's largest "Special Economic Zone" has grown from a population of 40,000 to 4,000,000 in less than 10 years. The explosive growth in SE China has created severe housing shortages and in Shenzhen its most severe. Daniel Mendez, LGOV President stated "We talked to a lot of firms about joining in on LGOV's Chinese projects and conclude that the Lott group, with its proven ability to get projects completed, both domestically and abroad makes for an excellent match. With LGOV's solid project base in China, and Lott's international experience makes for a potential combination to achieve tremendous growth and earnings potential for both company's." Mendez went on to state "This lasted development with Lott is in line with Company's strategy to secure the opportunity in China, then bring in a partner that has the ability to make it happen. Along this same line, we are currently entertaining proposals from telecommunication companies to join LGOV to develop its recently obtained license for pager and cellular phone network in five SE China provinces, to service a population larger than that of the United States." |
