NEW YORK, June 1, 2009 (GLOBE NEWSWIRE) -- New York- based securities law firm Sichenzia Ross Friedman Ference LLP congratulates its client Universal Travel Group on its first day of trading on the NYSE Amex. China-based Universal Travel Group opened for trading on NYSE Amex under the ticker symbol "UTA" on May 28, 2009. Universal Travel Group is the fifth company to list on the NYSE Amex market in 2009 and the third Chinese company to list on NYSE Amex year-to-date.
"We are pleased and honored to represent Universal Travel Group in its listing on the NYSE Amex. Our plan to conduct a reverse merger of the company's common stock backed up by a well-executed investor relations campaign proved to be extremely successful. We have, together with the efforts of a highly-motivated and integrated management team, not only been able to bring about more visibility and recognition to the company and liquidity in its stock but are extremely proud to accomplish the goal of listing the company on a senior exchange within a mere six weeks of the date of its initial application," said Mr. Benjamin Tan, partner and head of the firm's Asian Practice Group.
"We believe that the success that we have had with Universal Travel Group will serve as a model for under-valued Chinese bulletin board companies to migrate to a senior exchange within a short period of time," enthused Mr. Gregory Sichenzia, founding partner of the firm.
About Universal Travel Group (NYSE Amex:UTA)
Universal Travel Group, a growing travel services provider in the PRC, is engaged in providing reservation, booking, and domestic and international travel and tourism services throughout the PRC via the internet and through customer representatives. Under the theme "Wings towards a more colorful life," the Company's core services include tour packaging for customers, booking services for air tickets and hotels, as well as air cargo transportation. In 2007, Universal Travel Group completed the acquisitions of Speedy Dragon, specializing in air cargo transportation; Xi'an Golden Net, specializing in travel packaged tours; Shanghai LanBao, specializing in hotel reservation; and Foshan Overseas International, a PRC-based company that handles domestic and international travel inquiries. Universal Travel Group's goal is to become the PRC's leading travel services provider in all fields of the tourism industry including the aviation, cargo, hotel booking and tour packaging segments. For more information about the Company, please visit http://us.cnutg.com.
About Sichenzia Ross Friedman Ference LLP
Sichenzia Ross Friedman Ference LLP was established in 1999 to provide experienced, professional representation in all matters involving the securities industry, as well as in all general corporate and litigation matters. The Asian Practice Group was formalized in 2008 and currently has two lawyers fluent in both Mandarin and English. SRFF's clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. SRFF also advises institutional investors on transactions involving complex securities law considerations. For more information, visit www.srff.com. For interview and media requests, contact Richard Friedman at 212 930-9700 or at rfriedman@srff.com.