HONG KONG, July 12, 2005 (PRIMEZONE) -- FP Group, Ltd. (Pink Sheets:FPGR) ("FPG") announced today that it has reached an agreement with one of the largest greeting card companies in the United States. FPGR will become one of that company's contract manufacturers of greeting cards. The printing will be done in the Peoples Republic of China at FPG's main facility in Shenzhen.
The final step before printing will begin is a visit to the factory by the quality control staff of the card company. This visit has already been scheduled and will take place in early August. FPG President Mr. Leo Wong stated, "We are excited to have added this major greeting card company to our client list. We expect to receive orders that will be worth approximately US$6 million per year with gross profit margin of 30%. Besides printing greeting cards, we are discussing expanding the manufacturing to other paper products such as stationery, gift wraps and calendars." Mr. Wong added, "This is a spring board to attract other major U.S. companies and goes a long way to reaching our goal of US$30 million in revenue."
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.