SOURCE: Dragon Venture

September 27, 2005 16:05 ET

Dragon Venture Signs Letter of Intent to Acquire Shanghai Zhaoli Technology Development Company, Limited

FORT LAUDERDALE, FL -- (MARKET WIRE) -- September 27, 2005 -- Dragon Venture (OTC: DRGV), a leading holding company of emerging high-tech companies in China, has signed a letter of intent to acquire a controlling interest in Shanghai Zhaoli Technology Development Company, Limited ("Zhaoli"). Dragon Venture will issue $500,000 worth of common shares as consideration to acquire 80% of Shanghai Zhaoli Technology Development Company, Limited.

Zhaoli is an information technology enterprise providing innovative technology solutions to enhance its customer's businesses. Zhaoli generated approximately $20 million in sales for the fiscal year 2004 ending September 30, 2004. In the first nine months of the fiscal year 2005 ending June 30, 2005, Zhaoli generated approximately $18.8 million in sales. Zhaoli's customer list includes financial institutions, telecommunication companies, hospitals, supermarkets, airports, railway stations, and various government agencies.

Lawrence Wang, CEO of Dragon Venture, commented, "We are very excited with this potential addition to Dragon's high-tech family. This acquisition would represent a significant milestone for our company in achieving substantial growth in sales and earnings. We will integrate our wireless division and software division with Zhaoli operations, realizing improved profit margins."

Mr. Wang, concluded, "We are optimistic about our prospects for 2006 as we aggressively pursue our acquisition strategy. Dragon has the financial backing, merger & acquisition expertise, and proven management team needed to execute on its growth plan. We believe our common stock is presently undervalued and our management team is committed to maximizing shareholder value. Starting in the fiscal year of January 1, 2006, we plan to voluntarily publish our unaudtied financial statements on a quarterly basis."

About Dragon Venture

Dragon Venture ("Dragon") is doing business in China through its subsidiaries. Dragon was established to serves as a conduit between Chinese high-growth companies and Western investors. As China emerges as a growing force on the global stage, Dragon's professionals will provide invaluable services for Western investors seeking to gain access to the Chinese high-tech economy. In addition, Dragon functions as an incubator of high-tech companies in China, offering support in the critical functions of general business consulting, formation of joint ventures, access of capital, merger & acquisition, business valuation, and revenue growth strategies. Dragon will develop a portfolio of high-tech companies operating in China. Our focus will be on innovative technological applications, which are poised to alter the competitive landscape of the industry. For more information about Dragon Venture, please visit

Safe Harbor Statement

Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differmaterially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets.

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