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China Yida's Great Golden Lake Received Record Visitors During China's National Day Holiday

2008-10-14 19:24 1913

Management Confirms Company is Well Positioned for Growth

FUZHOU, China, Oct. 14 /Xinhua-PRNewswire-FirstCall/ -- China Yida Holding Co., Ltd. (OTC Bulletin Board: CYID; "China Yida" or "the Company"), a leading tourism and media management company, today announced that visitations to the Great Golden Lake reached record-high levels during China's National Day holiday, or "golden week," which took place between September 29, 2008 and October 5, 2008. The Great Golden Lake, which consists of the Golden Lake, Shangqing River, Zhuangyan Rock, Luohan Mountain and the ancient city of Taining, received a total of 46,000 visitors during the seven-day period, an increase of 52% compared with the same period last year.

Dr. Chen Minhua, Chairman of China Yida, said, "We are very pleased that total visitation at the Great Golden Lake during the Holiday week exceeded internal expectations. Along with our partners including Guangzhilv International Travel Agency, Nanjing Municipal Tourism Association and Taiwan's Sun-Moon Lake tourist destination, we launched extensive marketing and advertising initiatives on China's largest broadcasting station, CCTV, and other major media outlets within and outside Fujian province to enhance our sales efforts for the 'golden week' and beyond. Moreover, we successfully expanded the Great Golden Lake's target market beyond Fujian to include regions in the Yangtze River Delta, Pearl River Delta and Taiwan. Of the total number of visitors during the holiday week, Guangdong province made up of 13.1%, Jiangsu 10.3%, Shanghai 8.6% and Taiwan 2.6%."

Self-arranged individual or family tours, as opposed to travel agency group tours, are becoming more prevalent in China's domestic tourism market. There were more than 15,000 vehicles that entered the Great Golden Lake during the holiday week, and the proportion of the self-arranged visitors, including those travelling by private cars, accounted for more than 60% of the total number of tourists at the Great Golden Lake during the National Day holiday week.

"With the Great Golden Lake becoming a more established tourism destination in Fujian and its neighboring provinces, we are pleased to report that our media business is also growing steadily. The Company maintains a healthy balance sheet as both our tourism and media businesses are operating smoothly. Our assets and liabilities are at reasonable and expected levels, and the Company's net cash position remains strong and sufficient for continued growth. We plan to advantageously grasp the increasing opportunities in the Chinese tourism market, and seek partnership with additional tourist destinations or media outlets that have great potential for revenue expansion bringing China Yida's tourism and media businesses to a new and higher level," Dr. Chen Minhua added.

About China Yida

China Yida Holding Co. is a leading management company focused in China's emerging and fast-growing tourism and media markets. Headquartered in the city of Fuzhou, in China's Fujian province, China Yida offers operations management services, including management consultation, and specializes in the investment and development of natural, cultural and historic scenic sites (primarily the Great Golden Lake's five scenic attractions: Golden Lake, Shangqing River, Zhuangyuan Rock, Luohan Mountain and the Ancient City of Taining). The Company's media business also provides operations management services, including channel, column and advertisement management for television station (presently the Fujian Education Television station (FETV), a top-rated education television station at the provincial level whose advertisement management rights are wholly-owned by the Company).

Forward-Looking Statement

Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate, "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of China Yida Holding Co., Inc. (the "Company") to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital or a strategic business arrangement; (ii) the Company's ability to build and maintain the management and human resources and infrastructure necessary to support the anticipated growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at http://www.sec.gov under "Search for Company Filings.

For further information, please contact:

China Yida Contact:

Ms. Chen Xiao Xing

Vice President

Tel: +86-591-2830-8999

Email: chenxx@yidacn.net

Investor Relations Contacts:

Devin Jin

Taylor Rafferty, Shanghai

Tel: +86-21-6289-5658

Email: ChinaYida@taylor-rafferty.com

Delia Cannan

Taylor Rafferty, New York

Tel: +1-212-889-4350

Email: ChinaYida@taylor-rafferty.com

Source: China Yida Holding Co., Ltd.
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