omniture

Universal Travel Group Establishes Second Home Base in Chongqing

2009-06-04 23:40 1027

SHENZHEN, China, June 4 /PRNewswire-Asia/ -- Universal Travel Group (AMEX: UTA) ("Universal Travel Group" or the "Company"), a growing travel services provider in the People's Republic of China ("PRC") specializing in online and customer representative services to the travel service industry offering packaged tours, air ticketing, hotel reservation and air cargo agency services, today announced that the Company has established its second home base in Chongqing and will hold its grand opening on June 16, 2009.

Leveraging the strong market potential and favorable consumer feedback from its participation at the 12th Chongqing International Investment and Global Sourcing Fair ("CCISF"), Universal Travel Group will establish a consolidated affiliated Chinese entity to provide high level travel services to the consumers in the region, including air ticketing, hotel reservation and packaged tours. The opening of the new entity in Chongqing is in line with the Company's overall expansion strategy. After establishing a solid home base in the Pearl River Delta region, which covers cities around the Guangdong province, the Company is now seeking to penetrate the Chongqing Delta region, which covers Chongqing, Xi'An and Chengdu.

Chongqing is the largest and most populated municipality of the People's Republic of China's four provincial-level municipalities with a population of approximately 32 million. Chongqing's nominal GDP in 2008 reached RMB509.7 billion (US$73.4 billion) with an annual growth rate of 14.3%. In addition, there is a significant amount of government support aimed at transforming Chongqing into Southwestern China's economic, trade, and financial center and serve as a platform to open up the country's western interior to economic development.

"Chongqing will be an important market for the Company due to its large population and rapid economic development," said Ms. Jiangping Jiang, Chairwoman and CEO of Universal Travel Group. "By setting up our second home base in Chongqing and improving our business structure, we are seeking to further expand our coverage into greater eastern and northern China. We will work diligently to establish our presence and provide professional travel services in the greater China region to obtain a bigger market share. I am confident in our expansion strategy and look forward to overseeing the next round of fast growth and development of Universal Travel Group."

About Universal Travel Group

Universal Travel Group, a growing travel services provider in the PRC, is engaged in providing reservation, booking, and domestic and international travel and tourism services throughout the PRC via the internet and through customer representatives. Under the theme "Wings towards a more colorful life" the Company's core services include tour packaging for customers, booking services for air tickets and hotels as well as air cargo transportation. In 2007, Universal Travel Group completed the acquisitions of Speedy Dragon, specializing in air cargo transportation; Xi'an Golden Net, specializing in travel packaged tours; Shanghai LanBao, specializing in hotel reservation and Foshan Overseas International, a PRC-based company that handles domestic and international travel inquiries. Universal Travel Group's goal is to become the PRC's leading travel services provider in all fields of the tourism industry including the aviation, cargo, hotel booking and tour packaging segments. For more information about the Company, please visit http://us.cnutg.com .

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release contains certain statements that may include

"forward-looking statements" within the meaning of federal securities laws. All statements, other than statements of historical facts, included herein are "forward-looking statements." Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the Company's ability to successfully expand its market presence and those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. All

forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Source: Universal Travel Group
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