BELLINGHAM, Wash., Feb. 14, 2006 (PRIMEZONE) -- Asia Properties, Inc. or "API" (Pink Sheets:ASPZ) announced today that the Company recently held an exhibition of its Baan Naiyang Resort homes in Hong Kong on February 11-12th 2006. See the brochure at: http://www.asiaprop.com/ (click on Baan Naiyang, pull down menu). API flew in its lead sales staff from Phuket along with Scott Bennett, (API Advisory Board) and CEO, Daniel McKinney to speak with potential buyers directly and answer questions.
"We continue to experience strong interest in our homes in Phuket," said Asia Properties CEO, Daniel McKinney. "Attendance at our exhibition was good and traffic to the Phuket property site continues to be high. Strong indications of interest from prospective buyers lead us to believe that we could sell out the entire Phase I of the project relatively soon. Many homes in Phase I are nearing completion and should be finished in the next few months. Strong interest in Phase II, which was just recently launched, is also expected to convert into sales this quarter."
The Company is currently upgrading its property web site: www.baannaiyangresort.com to help accommodate marketing and sales over the Internet. Updated pictures have been posted showing construction progress on the site.
The company also announced that it has filed its form 10-QSB for Q3, 2005. This filing will re-establish API as a fully reporting SEC issuer.
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 S.E. 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 Asia Properties, Inc., contact Daniel McKinney at (360) 392-2841 or http://www.asiaprop.com), or Charlotte Filleul, Phuket Sales Manager, CB Richard Ellis Thailand (http://www.cbre.co.th) at 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, land and home sales, acquisitions 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