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

To: jpbp who wrote (783)	4/16/1998 11:11:00 AM
From: Dusty	Respond to of 7209

This is a press release I found on the Largo web site largovista.com Perhaps it will help explain some of your questions James, as I understand it the bank fronts the money for installation and collects the revenue from the customers. The customer pays nothing up front, for installation, but as monthly payments are made I would guess the bank would collect a portion of the payment. JMO, but it would make sense. I hope this helps answer your questions. Largo Vista Group signs agency contract with agricultural bank of China Newport Beach, Calif. Largo Vista Group (OTC BB: LGOV) has signed an agency contract with the Agricultural Bank of China, one of the country's largest financial institutions, to enhance liquid petroleum gas (LPG) sales in the YunNan Province. This agreement, the first of its kind in the country, permits each branch office of the Agricultural Bank to serve as an agent for Largo Vista's LPG utility company, which is now the largest in Southwest China . With over 1000 branch and sub-branch locations, a customer can now arrange for LPG service by simply going to a bank branch office and making a deposit for delivery. This enhanced market access is expected to further increase LGOV's sales in China's Southwestern area population, now numbering over 200 million persons. At present, 1.7 million customers in this population pay a average of $ 6.00 USD per month for the LPG service . This market has recently been enhanced by the Chinese government's new policy in support of LPG use for environmental and public health reason. Chinese officials are actively encouraging industry and as many residential users as possible to convert to the use of LPG from wood and coal in order to reduce air pollution by the year 2000. Recently published feasibility studies predict that China's Southwestern LPG use will increase 1000% by the year 2010 and generate a one Billion (USD) dollar per year industry. LGOV President Daniel Mendez commented " for the past six years we have been committed to enhancing our position in the Chinese market with our housing and telecommunications projects. Our new Chinese LPG merger allows us to show substantial revenues. In 1990, China imported 90,000 tons of LPG. In 1996, this figure grew to 1.37 million tons, a 1500 % increase. With the Agricultural bank of China as our agent we expect Largo Vista to become a classic example of LPG industry growth in the world's fastest growing economy. Investors and market analysts can expect several exciting announcements during the first quarter of 1997. Our immediate goal for the benefit of our shareholders is to make application to the NASDAQ National Market system as soon as possible." For more information, contact investor relations: 714 252 2180 fax 714 252 2181 www.largovista.com