China Premium Lifestyle Says 2006 Revenue to Reach Approximately $69 Million with Net Earnings in Excess of $1.5 Million Before Minority Interest

HONG KONG--China Premium Lifestyle Enterprise, Inc. (OTCBB:CPMM) launched a five-city road show in the United States, stating it is “very comfortable” with estimates for 2006 revenue of approximately $69 million and net earnings in excess of $1.5 million before minority interest.

Richard Lee, Chairman and CEO of the Hong Kong-based company that is best known for its Technorient subsidiary’s distribution and dealerships in Hong Kong and China of Ferrari and Maserati luxury cars, is in the midst of a one-week road show in the United States to introduce the company to U.S. investors. Mr. Lee said the company is also on target to achieve increased revenues and earnings in 2007 as the market for luxury goods continues to grow in Hong Kong and China.

Mr. Lee, along with CFO, Joseph Wong, are presenting the company’s story to investors in Los Angeles, San Francisco, Chicago, New York and Boston. They are describing the growth in the market for luxury goods in China, noting that after Japan, currently the world’s largest market for luxury goods, China and Hong Kong combined represent the second largest market in Asia, forecast to overtake Japan in less than 10 years.

He indicated that a key strategy of the company is to take advantage of this growth by setting up a new division “to expand our luxury goods platform beyond motor vehicles by assembling a team of experienced managers to bring additional high-end brands into our portfolio.” Mr. Lee noted that this is expected to include the addition of premium-branded fashion, fashion accessories, leather goods, watches and jewelry of premium Italian and US brands. He indicated that negotiations are in advanced stages with several of these companies to form exclusive distribution joint-ventures or secure exclusive distribution rights in China, Hong Kong or Asia.

Mr. Lee said the company recently completed its first, state-of-the-art dealership showroom and service center in Dalian, a key city in China’s northeast and has plans to build or acquire additional facilities in main coastal cities. An in-principal agreement has been reached to acquire a major interest in an existing Ferrari/Maserati dealership located in another key coastal city. He also added that during the first half of 2007 the company expects to acquire the dealership for Ferretti Yachts in Southern China and Horizon Yachts in Hong Kong and China from the company’s parent. Also, the company intends to acquire control of the Worldwide Super Car Club, which is building a 5-star membership facility in Zhuhai, China for owners of super cars.

Furthermore, he noted that the company’s parent group has been appointed as the exclusive importer and distributor for Alfa Romeo for Hong Kong and Macau and as a result, China Premium Lifestyle plans to acquire those distribution rights, and is ready to work closely with Alfa Romeo on planning and implementation of the marque’s expansion into China.

Lee indicated that China Premium Lifestyle remains poised to achieve success as a result of its extensive database of customers generated from its many years of experience distributing Ferrari and Maserati vehicles in China.

China Premium Lifestyle Enterprise, through its 49%-owned entity, has established itself as a leading Ferrari and Maserati distributor and dealer in Hong Kong and China, respectively. The company is expanding its offerings to include other luxury goods from around the world, which it markets to its already established base of extremely wealthy Hong Kong and Chinese individuals.

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the Company and its subsidiaries. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by the Company may differ materially from these statements due to a number of factors. Any forward-looking statements speak only as of the date made. Statements made in this release that are not purely historical are forward-looking statements, beliefs, plans, expectations or intentions regarding the future. Risk factors that may cause results to differ from projections include, without limitation, loss of suppliers, loss of customers, inadequate capital, competition, loss of key executives, declining prices, and other economic factors. The Company assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. Investors should independently investigate and fully understand all risks before making investment decisions.