BELLINGHAM, Wash., March 13, 2007 (PRIME NEWSWIRE) -- Asia Properties, Inc. (Pink Sheets:ASPZ) today announced that its Board of Directors has declared a dividend in the form of its shares in the Company's subsidiary, Hertz Controller Technologies Corporation (HCTC).
All ASPZ shareholders of record as of April 15, 2007, will receive one (1) HCTC share for every two (2) ASPZ shares they own. The distribution of the HCTC dividend shares will take place as soon as possible after April 15, 2007.
HCTC's patented technology has breakthrough applications in audio, video, electrical appliance, and power conditioning devices, among others. One of the many unique and powerful benefits that the technology offers to the A/V and electrical appliance industries is a low-cost chipset solution that significantly suppresses conducted noise in electrical appliances, resulting in improved sound and picture quality as well as reduced power consumption.
Please see www.hertzcontroller.biz
Daniel S. McKinney, CEO said, "We want to reward our loyal shareholders in API by this dividend. HCTC plans to apply for several new patents shortly covering the latest technology developments by Dr. Page Huie, to add to the intellectual property base of the company." McKinney added, "I have known Dr. Huie since the early 90's. He simply creates the best sound from audio equipment that I've ever heard, period."
About Asia Properties, Inc.: Asia Properties, Inc. was established to invest in resorts and prime real estate in Thailand and Southeast Asia. Asia Properties currently operates as the only listed U.S. public company focusing on S.E. Asian real estate investments, where investors can invest in Asian real estate and hold the investment in the form of a security trading on a U.S. securities market. API is a Nevada corporation and trades on the Pink Sheets under the symbol "ASPZ." There are currently 9,829,028 fully diluted shares consisting of 3,213,601 free trading and 6,605,427 restricted. The transfer agent is Computershare, Inc. of Golden, Colorado.
The Asia Properties, Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=1733
Statements, which are not historical facts, are forward-looking statements. The Company, through its management makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors which could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements.