China Premium Lifestyle Enterprises Announces Appointments of Two Key Executives

HONG KONG--China Premium Lifestyle Enterprise, Inc., (OTCBB:CPMM) the sole distributor of Ferrari and Maserati motor vehicles in Hong Kong and Macau, and one of the leading dealers of these cars in mainland China, today announced that it has appointed Waison Hui, as Executive Vice President and Head of Business Development and John Newman as Executive Vice President.

Richard Lee, Chairman and CEO of China Premium Lifestyle Enterprise said, “These two appointments are key to our expansion plans, both in terms of additional luxury automobiles as well as the development of other super-premium brands in the areas of leather goods, yachts and jewelry. I am delighted to have them as part of my team as we build China Premium Lifestyle Enterprise.”

Mr. Hui has more than 28 years experience in retail management, as well as distribution of electrical appliances and consumer electronics. He has extensive experience in mainland China including serving as a representative for famous European luxurious apparel brands that include Balenciaga and Francesco Smalto, as well as developing and managing prestigious retail shopping malls.

Mr. Newman brings 19 years experience with high-end sports and luxury car manufacturers and importers (including Ferrari and Astron Martin) to the company. He was the General Manager of the Ferrari importer in the UK and also a director of a successful motor racing team in Europe from 2003 to 2005. Mr. Newman holds a Diploma in Business and Finance and is a member of the Institute of the Motor Industry in the UK. He has extensive experience in sales, marketing, distribution, dealer development, media communications and customer relationship management.

“Mr. Hui will be working to expand our presence in other areas of luxury goods besides autos including sourcing of premium brands in fashion and accessories, leather goods and jewelry, while Mr. Newman will expand our existing automotive business including strengthening of our Ferrari and Maserati business and the possible acquisition of the Alfa Romeo importership.

These two men join the company’s already strong management team that, in addition to Mr. Lee, includes Herbert Adamczyk, President and Chief Operating Officer; Joseph Wong, Chief Financial Officer; Sammy Chi Chung Suen, Executive Vice President and Head of China Operations. All are based in Hong Kong.

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, having been affiliated with Ferrari and Maserati since 1992 and 1994 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 wealthy 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.