BELLINGHAM, Wash. and HONG KONG, Nov. 15, 2007 (PRIME NEWSWIRE) -- Asia Properties, Inc. (API) (Pink Sheets:ASPZ) announced today that its board has approved a 1:10 dividend of its subsidiary Microart, Inc.'s ("MCRT") common stock.
The share dividend entitles each holder of ten shares of API's common stock to receive a dividend of one common share of MCRT. Asia Properties shareholders of record on November 30, 2007 will be entitled to receive the common stock dividend distribution. Daniel S. McKinney, CEO said, "We want to reward our loyal shareholders in API by this dividend for a portion of this potentially valuable stock held by the company. "
API anticipates that the shares and the accompanying stock certificates representing each stockholder's MCRT dividend shareholdings will be issued and mailed to stockholders following the filing of the all required forms with the appropriate regulatory agencies.
Further, the Company announced that it has invested its 2 million shares of Entellium into MCRT in exchange for equity. Entellium is one of the fastest-growing providers of CRM software solutions, including the award winning RAVE. "We recognize Entellium as one of the leaders in the expanding CRM global market," said McKinney. Please see: www.entellium.com
About Asia Properties, Inc.: Asia Properties, Inc. was established to develop resorts and prime real estate in Southeast Asia. Asia Properties currently operates as the only listed U.S. public company focusing on S.E. Asian real estate investments. API is a Nevada corporation and trades on the Pink Sheets under the symbol "ASPZ." There are currently 39,115,112 fully diluted shares consisting of 16,672,740 free trading and 22,357,376 restricted. The transfer agent is Computershare, Inc. of Golden, Colorado.
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For up to date corporate information about Asia Properties, Inc. contact Daniel McKinney, email: dmckinney@asiaprop.com or (http://www.asiaprop.com) For Investor Relations, call Dennis Burns. Tel 567-237-4132 email: denny@nvestrain.com www.nvestrain.com
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.