Friday July 28, 5:42 am Eastern Time
Company Press Release
Asian Star Sells One of its Projects in China for $1.5 Million U.S.
HONG KONG--(BUSINESS WIRE)--July 28, 2000--Asian Star Development, Inc. (Nasdaq OTCBB:ASTV - news) with its principal offices in Hong Kong, has concluded its agreement with the ``Shilong Town House and Properties Corporation'' (``STHPC''), to sell ASTV's ``Shilong City Hall Plaza Project'' in exchange for approximately $1.5 million U.S.
Stephen Chow, President of ASTV stated, ``As we are determined to expand our Company into other fast growing industries, our strategy is to scale down our commitment in development projects which are under construction. This would allow the Company preserve its strength and energy by participating in more lucrative enterprises.''
ASTV's major business activities were previously focused on real estate development in Asia and China. Recently, the Company has engaged into various negotiation of acquiring corporations in China. As China is entering into WTO in the near future, ASTV will take the advantage of the immense market of 1.2 billion people in China.
To receive further corporate information, contact:
Investor Relations: 1-415-566-2503 / 1-800-488-7151
or visit www.asianstardev.com
Hong Kong: Stephen Chow, President, Asian Star Development, Inc.
011-852-2721-0936 or e-mail info@asianstardev.com
The above statements in regard to Asian Star Development, Inc. which are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Asian Star Development, Inc.'s beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date. It is important to note that actual outcome and the actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative, corporate and marketplace changes.
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Contact:
Asian Star Development, Inc.
Investor Relations: 415/566-2503 or 800/488-7151
www.asianstardev.com
or
Stephen Chow, 011-852-2721-0936 (President)
info@asianstardev.com |
