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Strategies & Market Trends : Asian Star Development (ASTV) Entertainment/sports/gaming -- Ignore unavailable to you. Want to Upgrade?

To: mad_capper who wrote (170)	3/15/2000 10:38:00 AM
From: bill nichols	Read Replies (2) \| Respond to of 243

Here we go.... FOR IMMEDIATE RELEASE ASIAN STAR DEVELOPMENT, INC. OTCBB Symbol : ASTV March 15, 2000 Asian Star Development, Inc. Projecting $300 Million Revenue on New $2.3 Billion Superport Project Hong Kong, March 15, 2000, Asian Star Development, Inc. [NASD OTC BB : ASTV], with its principal office in Hong Kong, announced today the terms of its agreement for the construction of the Malaysian Superport as announced on January 27, 2000. The initial stage, Prestasi Harmoni SDN BHD (?PHSB?) which is 51% owned by Asian Star will hold a 90% interest in the Joint Venture, and 10% interest will be held by the Government of the State of Kelantan, Malaysia. The Joint Venture shall acquire the controlling shares of 2 existing LPG-related plants. The 1998 revenue of these plants was approximately US$1.6 million and is expected to show significant growth in the near future with the added throughput from the new offshore oil and gas fields. The 2nd stage of the development is estimated at US$2.3 billion, which including construction, management and operation of various buildings/plants, facilities, and seaport. As these buildings/plants are planned to be built individually, financing of the 2nd stage may be spread into different phases according to the master plan of the Superport Project. The projected gross revenue of project management for this construction is approximately US$300 million. Stephen Chow, President of Asian Star, stated, ?We feel this represents an superb opportunity for Asian Star to utilize its experience, contacts, and expertise in project development to create significant value for our company and shareholders. This is a world class undertaking and our team is ready for the task." Asian Star is approximately 20% owned by a subsidiary of New World Development of Hong Kong [Hong Kong Symbol: HKG:0017.HK]. To receive further corporate information, contact : Investor Relations : 1-415-5662503 / 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@asiansta Best of Investing Bill