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Strategies & Market Trends : SXPT - Sino Express Travel, Ltd. (Bulls Board) -- Ignore unavailable to you. Want to Upgrade?

To: hotlinktuna who wrote (36)	2/1/2006 10:23:35 AM
From: phonepo26	Read Replies (1) \| Respond to of 38

SXPT News out!! Sino Express Travel Enters Into Letter of Intent With a Major Travel Operator Based out of Hong Kong to Form a Joint Venture Wednesday February 1, 9:25 am ET HONG KONG--(BUSINESS WIRE)--Feb. 1, 2006--Sino Express Travel Limited (OTC:SXPT - News), and a major travel agency in Hong Kong, announced today that they have formally entered into a letter of intent to establish an alliance between their respective B-C businesses. V222 ("www.v222.com") from Sino Express will be a major operator in this Joint Venture. Sino Express will own the majority of this joint venture (51%). The partner and joint venture management will own the remaining capital. The new company is projected to generate annual revenue of USD $1.1 million in 2006. Prior to the joint venture, V222 alone was projected to generate annual revenue of USD $250,000 in 2006. The joint venture partner will inject a travel service and logistic network comprising of 50 sales outlets located through out Guangzhou, a key trading and industrious city in southern China. Sino Express will offer its 24/7call center services, inventories and travel products. The joint venture partner will also provide the technology platform required to facilitate the service offering. Future planning is to expand the network to the rest of pearl delta region in southern China by establishing agreements with phone facility agents frequented by domestic travelers. The expanded network will provide more convenient travel services to domestic citizens and migrant workers by acting as a sales and logistic agent for V222. Guangzhou city alone has up to 1000 phone facility agents servicing mainly local residents and migrant workers. Official statistics indicate there are more than 114 million migrant workers in China, of which at least 30 million are working in the industrious southern China region. Due to the high GDP growth in the recent years, most of them have adopted the custom of taking long vacations and traveling back home during public holidays. "This joint venture is a further step towards the enhancement of both company's shareholders value, and would be a contribution to the quality of travel services for the greater China tourism," commented Xia Chen, Chief Executive Officer of Sino Express. Sino Express Travel Limited (www.sinoexpresstravel.com) together with its 100% owned subsidiaries, GS Travel (Hong Kong) Ltd, NSIBC Ltd, YTD Ltd and www.v222.com, is an international travel company with operating offices in Hong Kong, Beijing, Guangzhou, Vancouver, Toronto and Seattle. Sino intends to grow its business by acquiring and operating a diversified travel business portfolio, seeking to invest in profitable travel related companies with reputable management and high growth potential. Contact: Sino Express Travel Miss Shirley Yu, (852) 3106-0998 (Investor Relations) Fax: (852) 3106-0280 ir@sinoexpresstravel.com