HOHHOT, Inner Mongolia (Western China), Aug. 13, 2007 (PRIME NEWSWIRE) -- Gold Horse International, Inc. (OTCBB:SPEH) released its current roster of residential construction projects in Western China, which total more than $135 million in projected revenues with estimated profits of $25 million.
Mr. Yang Lian Kuan, Chairman and CEO of Gold Horse explained: "These three projects of residential housing will be completed from 2007 to 2010, and represent over 6,500 residential units. This pipeline does not include commercial and governmental contracts that Gold Horse has secured."
The Company furnished a summary of the three residential projects:
* Nan Yuan Estates, 1100 units, $20.5 million contract, $4.1 million
projected profits.
* Yuan Estates, 600 units, $8.3 million contract, $1.55 million
projected profits.
* Gold Horse Gardens, 5,000 units, $109.7 million contract, $19.4
million projected profits.
Mr. Jonathan Blum, Gold Horse Director residing in New York City, observed: "Gold Horse is entering an exciting growth phase with numerous, sizable projects in development. We expect the completion and monetization of these projects to drive the company's continued growth through the end of the decade. With its U.S. public listing now completed and multiple projects underway or nearing completion, Gold Horse is well positioned to be a leading player in the Chinese real estate and construction markets."
About Gold Horse International, Inc.
Gold Horse, through its wholly owned subsidiary, Global Rise International Ltd., controls and operates Inner Mongolia Jin Ma Construction Co., Ltd. ("Jin Ma Construction"), Inner Mongolia Jin Ma Hotel Co., Ltd. ("Jin Ma Hotel") and Inner Mongolia Jin Ma Real Estate Development Co., Ltd. ("Jin Ma Real Estate," and collectively the "Jin Ma Companies"), all based in Hohhot City, the regional capital of Inner Mongolia Autonomous Region in the People's Republic of China. Jin Ma Construction has been providing construction and general contractor services in Hohhot City to both private developers and the local and regional governments since 1980. Jin Ma Hotel owns, operates and manages the Jin Ma Hotel, a full-service two-star hotel located in Hohhot City. Jin Ma Real Estate develops residential and commercial properties in Hohhot City. For more information, visit www.GoldHorseInternational.com
Forward-looking Statements
Statements made in this news release may contain forward-looking statements concerning Speedhaul's business operations. The actual results may differ materially depending on a number of risk factors including, but not limited to, the following: general economic and business conditions, development, market acceptance, competition from existing and new competitors, and various other factors beyond its control. The risks inherent in Speedhaul's business operations are detailed under "Risk Factors" in its Current Report on Form 8-K/A filed on July 9, 2007. Speedhaul undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.