Asia Properties Anticipates Brisk Sales of Baan Naiyang Resort Homes

Company Announces Sale of First Unit


BELLINGHAM, Wash., Oct. 11, 2005 (PRIMEZONE) -- Asia Properties, Inc. (Pink Sheets:ASPZ) reported today it has sold its first home in Phase I of its resort subdivision in Phuket, Thailand.

API recently participated in an exhibit conducted by CB Richard Ellis in two European cities. Asia Properties CEO, Daniel McKinney said, "We are pleased by the buyer response and leads generated by the recent CBRE exhibitions held in London, U.K. and Stockholm, Sweden. We recently signed our first Sales & Purchase agreement for a "Pine Tree" designed home and expect sales for this quarter to come in at a minimum of US$1 million."

A Baan Naiyang Resort sales kiosk with sales staff is conveniently located near the departure check-in counter at Phuket airport.

Please see Baan Naiyang Resort price list: www.asiaprop.com/price-list.html

Baan Naiyang Resort, just 10 minutes south of Phuket airport, is located near the Pearl Village Hotel and Arahmas Hotel (formerly Pavilion) on Naiyang Beach. Naiyang Beach is a rapidly developing area with many five-star resorts and villa developments being built. The company expects development in Northern Phuket to continue over the next few years with comprehensive infrastructure, including shopping malls, grocery stores, restaurants and other facilities.

About Asia Properties, Inc.

Asia Properties, Inc. was established to invest in resorts and prime real estate in Thailand and Southeast Asia. Asia Properties currently operates as the only listed U.S. public company focusing on Southeast Asian real estate investments, where investors can invest in Asian real estate and hold the investment in the form of a security trading on a U.S. securities market.

For up-to-date corporate information about Asian Properties, Inc. contact Daniel McKinney (360) 392-2841 or www.asiaprop.com, or Ed Lewis, CEOcast, Inc. for Asia Properties at (212) 732-4300. Charlotte Filleul, Phuket Sales Manager, CB Richard Ellis Thailand. www.cbre.co.th. Tel 66 76 239 967-9; fax 66 76 239 970; cell 661 597 7137.

Statements, which are not historical facts, are forward-looking statements. The Company, through its management makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors which could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements.

The Asia Properties, Inc. company logo is available at: http://www.primezone.com/newsroom/prs/?pkgid=1733



            

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