BELLINGHAM, Wash., May 18, 2006 (PRIMEZONE) -- Asia Properties, Inc. or "API" (Pink Sheets:ASPZ) announced today that it is applying for a listing on the newly announced Pinksheets OTCQX. According to Pink Sheets, "OTCQX listed securities will effectively represent the best issuers among the thousands of companies listed the OTC." Daniel S. McKinney, President and Chief Executive Officer, API, said, "We are thrilled at the opportunity of an OTCQX listing. The OTCQX's Designated Advisor for Disclosure ('DAD') is modeled after the London Stock Exchange AIM's Nominated Advisor ('NOMAD') and is anticipated to generate competition with the American Stock Exchange ('AMEX') and Nasdaq Bulletin Board. We believe such a listing will distinguish API as a higher quality OTC issuer, produce considerably more exposure for API among potential investors, more liquidity, and will give current investors real time stock quotations and other timely information."
Mr. McKinney said that he hopes API will be one of the first companies to be approved for listing on the OTCQX, which is targeted to start trading in July, 2006.
Please see: www.otcqx.com
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 www.asiaprop.com. For property inquiries, contact: Jill Lerlertkul, Phuket Sales Manager. Cell 661-0135136; email: jilljill@asia.com
The Asia Properties, Inc. company logo is available at http://www.primezone.com/newsroom/prs/?pkgid=1733
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.