HONG KONG, July 6, 2005 (PRIMEZONE) -- FP Group, Ltd. (Pink Sheets:FPGR) announced today that it has opened an office in Guangzhou, Peoples Republic of China ("PRC"). The office will focus on marketing and sales as well as sourcing and logistical control.
Guangzhou is on the coast of the South China Sea and 182 kilometers away from Hong Kong; it is China's largest and most prosperous city in the south, an important seaport for foreign trade and a famous historical and cultural city over 2,000 years old. Guangzhou is the capital of Guangdong Province and has a population in excess of 7 million people. It hosts annual spring and autumn exports trade fairs, which attract attendees from around the world. It has convenient land, water and air transport. International air routes link it to many international cities. Daily flights, trains, ships and hovercraft go between the city and Hong Kong.
According to the Statistic Bureau of the PRC, the revenues from the printing, sourcing and logistics industries grew to US$3.4 billion, US$3.6 billion and US$3.6 billion respectively last year. Guangdong Province is one of the top three geographic areas in these sectors.
The Olympics, which will be held in China in 2008, are expected to generate an additional US$500 million for the PRC's logistics industry. Similar growth is predicted for the printing and packaging industries.
FPGR President Mr. Leo Wong stated that, "The opening of the Guangzhou 'representative office' is the first of four offices we will open in the next eighteen months. We plan on adding offices in Beijing, Shanghai and Ningbao. These cities have been chosen for their current and future growth. We are well on our way to achieving national representation in China. As I have said before, our goal is to reach a minimum of US$30 million in the next few years." He added, "With the Olympics only a few years away and activity already starting, we are confident that with this expansion we will get a larger piece of the pie."
About FP Group, Ltd.:
FPG is a Peoples Republic of China-based company providing a full range of logistical management in the printing and packaging industry. FPG provides a one-step service including consultation, design, sourcing, printing, assembly and delivery of packaging needs. FPG's products include items for which they hold design patents in the PRC. For more information, please visit our corporate website: www.fpgroup.com.hk
FPG is continually developing new design and packaging concepts. Growth of FPG will come from additional business with its current customer base and attracting new customers as a result of the services and products they offer. FPG intends to take advantage of its market position by seeking other firms for the possibility of merger or acquisition.
Statement under the Private Securities Litigation Reform Act:
With the exception of the historical information contained in this release, statements above describing objectives or goals or our future plans are forward-looking statements and are subject to certain risks and uncertainties, including among other factors the ability of FPG to increase revenues in the future, the ability to maintain a positive cash flow, and the ability to retain existing customers and obtain new customers, its ability to create and market new packaging concepts, the printing and packaging business in general, future governmental regulation as well as other factors which could cause actual results or revenues to differ materially from those contemplated by these statements.