FT. LAUDERDALE, Fla., Nov. 24, 2004 (PRIMEZONE) -- China Direct Trading Corporation's (OTCBB:CHDT) wholly-owned subsidiary, China Pathfinder Fund, LLC (CPF), announced today that the China Pathfinder fund has been nominated as a joint venture partner with Beijing Time Consulation Ltd. to acquire or sell a state-owned hotel called the Huabei Hotel.
Beijing Time Consulation Ltd. is a registered Chinese company and JV partner with (CPF) and together they have received government permission for a foreign entity to own and control this property for the next 50 years.
The hotel has been designated as the Press conference hotel for the 2008 Olympics as the government has invested in technology needed for press conferences and transmission of data.
China Pathfinder is looking for a partner to acquire and manage this hotel.
Further information as well as a trip to the hotel can be supplied upon request at the company's headquarters in Fort Lauderdale at 954-474-0224.
BUSINESS: CHDT is a holding company which, through its subsidiaries, is engaged in trading Chinese manufactured goods in North America and in business development in China and in North America for foreign companies. CHDT's global trading partners include one the largest retailers in the world and two major resort-theme park companies in North America.
FORWARD-LOOKING STATEMENTS: This press release includes "forward-looking statements" within the meaning of the federal securities laws. Although CHDT (the "Company") believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Many factors are beyond the Company's and its subsidiaries' control. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's existing and future filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions as set forth in the Company's current and future public filings with the Securities and Exchange Commission and herein.