HONG KONG, May 23, 2005 (PRIMEZONE) -- FP Group, Ltd. (Pink Sheets:FPGR) announced today that it is launching its brand new product line, paper music boxes, during the coming quarter. This is a new source of revenues which complements existing infrastructure and the Company's core business of paper and packaging products.
Following the recently launched proprietary paper clock campaign, FP will launch its second proprietary product series, paper music boxes in June. The music box is made of recycled paper providing substantial profits margins. The music box will be positioned in two sectors. The music box will be sold as a consumer good to be used as a gift item. It will be sold individually or together with other FP products such as stationery and cards as a pack of gift premiums for special occasions. Its second segment will be as a dedicated packaging product such as a gift box. This product will be the perfect multi-purpose packaging box for special occasions.
This product is another example of what makes FP a complete one-stop service paper products integrator in the fast-growing China economy.
President of FPG, Mr. Leo Wong stated, "FP target sales for the paper music box is 200,000 units for the first batch of orders, and the demand will increase constantly quarter by quarter. Besides manufacturing the paper music box, FP will also perform sourcing and logistic management for the product lines. We will use our existing production facilities and labor resources to manufacture the boxes, the projected operating profits will have a significant impact on the Company. Together with the paper clock product line that we had previously announced in March of this year our proprietary products will increase annual turnover by more than 15%."
The initial target market for the music box line is European importers and will be sold at large retail chains stores, gift stores and department stores. Special packaging versions with golden or silver words such as "Happy Birthday," "Merry Christmas," "To My Dearest Friend" hot stamping on the surface of the box will also be available as well as messages made to customers' orders.
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.