China World Trade Corporation Acquires Hotel Booking And Group Tour Travel Agency

Company's Strategic Acquisition Further Positions Itself as a Leading Business Services Company in China

GUANGZHOU, China, Aug. 8 /Xinhua-PRNewswire/ -- China World Trade Corporation (OTC Bulletin Board: CWTD - News; ''CWTC'') announced today that its subsidiary Guangdong New Generation Commercial Management Co., Ltd (''New Generation''), entered into an agreement to acquire Guangdong Hao Shi Guang Travel Agency Limited (''Hao Shi Guang'') from Guangdong Rising Hotel Group Co., Ltd (''Guangdong Rising Group''). Under the agreement, New Generation will obtain a majority stake of up to 70 of Hao Shi Guang through a capital injection. The cooperation will also include a joint development of an interactive hotel booking system connecting Guangdong Rising Group hotel chains and integrating them into New Generation's current travel booking enterprise system which will further enhance its travel offerings to New Generation's customers.

''We are excited and confident that our cooperation with CWTC's travel subsidiary, New Generation will lead to future success in the continued development of our travel business in Southern China,'' said Mr. Bangfu He, President of Guangdong Rising Group, ''The Guangdong Rising Group runs a wide range of travel related services including hotel bookings, group travel services and ground transportation arrangements. This strategic acquisition will allow us to capture more of Southern China's travel market share by offering a broader range of services to our customers.''

William Tsang, President of CWTC commented, ''As China becomes a member of the World Trade Organization, the Chinese economy will be further boosted by the frequent business commuters between China and the rest of the world. Our goal is to develop a comprehensive business services and travel platform to offer the necessary resources to our corporate clients and members so that they experience seamless business and travel while in China. The cooperation with Guangdong Rising Group is synergistic to the travel segment of our business because it allows us to further penetrate the corporate and individual travel market by diversifying our services through premier channels.

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About Rising Group

Guangdong Rising Hotel Group Co., Ltd (Guangdong Rising Group) is a state- owned hotel management corporation that was founded in 2002. Headquartered in Guangzhou, China the Company has 23 subsidiaries and employs over 3,000 people. Guangdong Rising Group owns the Asian International Hotel, one of the most popular five-star hotels in Southern China, Guangzhou's Ramada Pearl Hotel, a four-star hotel, and two three-star hotels Guangzhou HuaHai Hotel and Guangzhou SanYu Hotel. These hotels are strategically located near in commercial centers in Guangzhou. Hao Shi Guang was established in 2003 to capture the rapidly growing needs of the hotel business in China. The group was strategically formed to bring together a complete set of hotel chains for ecological and leisure travel activities. Guangdong Rising Group devotes itself to other travel related businesses including real estate management and property development.

For more information, please see Guangdong Rising Group's website at: http://www.gdrising.com.cn/cn/sub-company/index.aspx?companyid=33

About China World Trade Corporation

China World Trade Corporation (CWTC) has established its business in three distinct areas: the club and business centers throughout major cities in China, business travel-related services, and business value-added services. The Club and Business Center Division is devoted to the building of the World Trade brand throughout China via the opening and operating of business clubs in China's major, positioning the CWTC to act as a platform to facilitate trade between China and the world markets. The acquisition of CEO Clubs China Limited ("CEO Clubs") in May 2004 further complements CWTC's offerings by targeting high-level corporate executives from premier companies. The Business Traveling Services Division, New Generation, provides CWTC access to the rapidly growing travel-related industry.

New Generation is a pioneer and market leader in the travel agency business through its strong network of ticketing sales operations throughout Southern China. The Business Value- Added Services Division focuses on value-added services of credit cards, merchant-related business services, as well as consultancy services to CWTC members and clients. Guangdong World Trade Link Information Services Limited ("WTC Link"), a subsidiary of CWTC, manages the Company's co-branded credit card project and is an active provider of CRM solutions and services in China.

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