HONG KONG, Sept. 14, 2005 (PRIMEZONE) -- FP GROUP, LTD. (Pink Sheets:FPGR) ("FPG") announced today that it will be showing its new product line of paper clocks at a Clock and Watch Show sponsored by Million Base ("MB"), a Hong Kong based global sourcing and marketing company. As previously announced FPG is in the process of acquiring a majority interest in MB. MB expects gross revenue in 2005 of approximately US$4,000,000 and net income of approximately US$800,000. This will significantly increase FPG consolidated revenue and net income.
FPG and MB expect that their line of paper clocks will be well received by those attending the show. The paper clock product is not only a time piece but can be used as gift boxes for small items such as jewelry and accessories. FPG's design staff works with customers to manufacture the clocks to fit special needs such as shape and size.
FPG, Chairman and CEO Leo Wong, stated, "As oil prices continue to rise promotional products manufactured from paper will replace plastic items. This effort with MB reinforces our decision to join forces with them. MB's position in the industry and its huge database of importers, traders, retailers, and manufacturers worldwide will enable the company to accomplish its marketing goals."
MB engages in product development, distribution, logistics, and product placement into mass retail. They hold a number of patents and sell products to importers and direct to retailers worldwide. As a result of its relationships with various governmental agencies, public and private institutions, and private companies in China, MB plays a key role in assisting U.S. and European companies that desire to move production or investments into China as well as helping Chinese manufacturers extends their export business into the U.S. and Europe.
About FP Group, Ltd.:
FPG is a Peoples Republic of China-based company providing a full range of logistical management in the printing and packaging industry. FPG provides a one-step service including consultation, design, sourcing, printing, assembly and delivery of packaging needs. FPG's products include items for which they hold design patents in the PRC. For more information, please visit our corporate website: www.fpgroup.com.hk
FPG is continually developing new design and packaging concepts. Growth of FPG will come from additional business with its current customer base and attracting new customers as a result of the services and products they offer. FPG intends to take advantage of its market position by seeking other firms for the possibility of merger or acquisition.
Statement under the Private Securities Litigation Reform Act:
With the exception of the historical information contained in this release, statements above describing objectives or goals or our future plans are forward-looking statements and are subject to certain risks and uncertainties, including among other factors the ability of FPG to increase revenues in the future, the ability to maintain a positive cash flow, and the ability to retain existing customers and obtain new customers, its ability to create and market new packaging concepts, the printing and packaging business in general, future governmental regulation as well as other factors which could cause actual results or revenues to differ materially from those contemplated by these statements.