FORT LAUDERDALE, Fla., July 6, 2005 (PRIMEZONE) -- Dragon Venture (Pink Sheets:DRGV), a holding company of high-tech companies in China, announced today that its headquarters in China and its subsidiaries have moved to Shanghai Yangpu High-Tech Incubator Base, a state-level high-tech incubator base in Shanghai.
The new official address in China for Dragon Venture is 335 Guoding Road, Building 2, Suite 2009, Shanghai, China. Its new telephone number is 86-21-55522888 and its new fax is 86-21-55660988.
After one year's rapid development, the original offices of Dragon's subsidiaries have not been able to satisfy the demand of its businesses. Shanghai Yangpu High-Tech Incubator Base provides world-class facilities, including financial, operational and policy support. Management decided to accept the invitation and move its subsidiaries to this brand new offices building.
Shanghai Yangpu High-Tech Incubator Base was established in August 1997, under the direct leadership of the Science & Technology Commission of the Shanghai City Government. Its location is in the Yangpu Distract in Shanghai, in close proximity to Fudan University and Tongjie University. The incubator base is approved by the Ministry of Science & Technology of China as one of the state-level High Technology Innovation Service Bases. Since 1997, 265 high-tech enterprises have been cultivated in this base and more than 90% of them have been incubated successfully.
Shanghai Yangpu High-Tech Incubator Base is a non-profit public institution, founded and funded by the government. Its mission includes accelerating transference of technology while in turn promoting the development of the local economy.
Lawrence Wang, CEO of Dragon Venture, commented, "We have been planning to upgrade our corporate headquarters in order to expand our operations in China. We are very pleased to find an ideal location. These facilities will better accommodate our expansion needs. We consolidated our subsidiary operations under one roof in order to reduce our overhead and increase our operational efficiency. We believe that our company will undergo a more rapid development under this outstanding incubator environment. We would like to invite our shareholders and clients to inspect our new world-class headquarters."
About Dragon Venture
Dragon Venture ("Dragon") is doing business in China through its subsidiaries. Dragon was established to serve as a conduit between Chinese high-growth companies and Western investors. The current focus of Dragon is on the development of wireless 3G-based applications and business solutions. Two companies that Dragon has acquired are among the leading providers of mobile Internet applications and business solutions in China. As China emerges as a growing force on the global stage, Dragon's professionals will provide invaluable services for Western investors seeking to gain access to the Chinese high-tech economy. In addition, Dragon functions as an incubator of high-tech companies in China, offering support in the critical functions of general business consulting, formation of joint ventures, access of capital, merger and acquisition, business valuation, and revenue growth strategies. Dragon will develop a portfolio of high-tech companies operating in China. Our focus will be on innovative technological applications, which are poised to alter the competitive landscape of the industry. In addition, the company acquires and invests in innovative technology companies in China or forms joint ventures with both American and Chinese companies, focusing on emerging technology industries including Telecommunication, Information Technology, Wireless applications, and other high-tech industries. For more information about Dragon Venture, please visit http://www.dragonventure.net
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