2008-10-07 12:16:02 -
- Sino Express Travel Limited (OTC:SXPT) announced that it has signed a Memorandum of Understanding to acquire the right to manage a 160-room hotel in Macau for 10 years. The total consideration of US$2,500,000 is expected to be settled by issuance of restricted common shares of SXPT at US$0.15 per share. Construction and furnishing installations of the Macau hotel are
at the final stages with a target completion by the end of this year.
Macau, a former Portuguese colony, is a special administrative region of China and it is situated 60 kilometers southwest of Hong Kong in the coastal region of south China. Macau's economy is largely based on tourism and casino gambling; the gambling revenues from Macau's casinos made news in 2006 by surpassing those of Las Vegas strip. The Macau hotel is located within minutes from several casinos such as Casino Lisboa, Wynn Macau, Sands Macau and MGM Grand Macau. Sino believes the hotel in the vibrant market of Macau will add great value to its growing portfolio of hotels and attractions.
About Sino Express Travel Limited
Sino Express Travel Limited (www.sinoexpresstravel.com) is an investor and developer of scenic spots and tourist destinations in China. Sino intends to grow its business by acquiring and operating a diversified portfolio of resort hotels and tourist attractions. It plans to search for good value targets at suitable locations in China with high potential for further development in the areas of scenic, cultural and historical extensions.
Forward looking statement
Certain information contained in these materials is "forward-looking" information, such as projections, estimates, pro formas, or statements of intentions, expectations or plans. All forward-looking information is subject to known and unknown risks and uncertainties, many of which are outside of the control of the company. Consequently, actual results may, and probably will, differ materially from the results contemplated in such forward-looking information.
Sino Express Travel Limited
Jinghui Wang, (86) 20-83346112
ir@sinoexpresstravel.com 
