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Microcap & Penny Stocks : LGOV - Largo Vista Group, Ltd. -- Ignore unavailable to you. Want to Upgrade?

To: puddinhead who wrote (7158)	12/10/2001 9:06:09 AM
From: broke2	Read Replies (1) \| Respond to of 7209

News!!!!!!!!!!!!!!!!!! China /Energy: US Company, Largo Vista Group, to Exercise LPG option NEWPORT BEACH, Calif., Dec 10, 2001 /PRNewswire via COMTEX/ -- Largo Vista Group Ltd. (OTC Bulletin Board: LGOV) announced today the decision to exercise their option with Zunyi Commercial Transportation Petroleum & LPG Co. Ltd., a subsidiary of Petro China, located in the Guizhou Province. (Pop. 30 million) Largo Vista has been operating the Zunyi depot since January 2001 under a 5 year lease option to purchase the operation which includes storage tanks, filling workshop, railway platform including pipelines, office facilities and dormitories. Mr. Li Chuming, Largo Vista's General Manager of Chinese operations stated: "After 11 months of hands on LPG market research and development the decision was made to exercise our option to purchase the Zunyi depot. We have identified 8 stages of growth through the next four quarters which leads to full LPG market control in the region. Our decision to first operate the Zunyi LPG depot under a lease agreement before purchasing it is a direct result of our experiences we gained with our first depot in Kunming, Yunnan Province where profitability with our state-owned competitors was not their primary goal. Under an option agreement we are allowed hands on development to test real market conditions in the region before the purchase. Another asset of the option is the purchase of the inspection station. The only authorized inspection station in the region for bottle and valve testing which is required by law for licensed LPG operations, it's a pure cash business." Largo Vista Group Ltd. is an established energy company that distributes liquid petroleum gas (LPG) in Southern China as the Chinese government moves forward to replace coal and wood uses with friendlier environmental alternatives. The company has a 10 year history in China. They are the only Foreign company to operate LPG retail sales, storage operations, import/export and the wholesale of petrochemicals in more than one province. During the quarter ended June 30, 2001 they disposed one of their first (LPG) depots at a net gain of $3 million. Their Chinese headquarters are in Wuhan, Hubei Province China. Vietnam headquarters are in Ho Chi Minh, City where they conduct petrochemicals business. USA headquarters are in Newport Beach, California. ( www.largovista.com ) This news release includes "forward looking statements" that include risk and uncertainties. The forward looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including without limitation the Company's ability to produce and market products and or services and other risks detailed from time to time in their Company's reports with the Securities Exchange Commission. For more information call 949 252 2180