SOURCE: Universal Travel Group

August 29, 2006 16:18 ET

Universal Travel Group Projects Double-Digit Growth in the Third Quarter

Q3 Gross Revenues Expected to Grow 135% to $1.8 Million; and Net Profits to Grow 95% to Over $877,000

SHENZHEN, CHINA and LOS ANGELES, CA -- (MARKET WIRE) -- August 29, 2006 -- Universal Travel Group (OTCBB: UTVG) which through its wholly owned subsidiary Yu Zhi Lu Aviation Service Company Ltd. ("YZL"), a China based aviation services company, provides domestic and international travel services to the areas of Hong Kong, Macau, and Taiwan, announced today its financial forecast for the third quarter ending September 30, 2006. The Company projects a growth in gross revenues of 135% to $1,755,200 in the third quarter ending September 30, 2006 from $747,828 in the third quarter ended September 30, 2005. Net profits are expected to grow 95% to $877,600 in the third quarter ending September 30, 2006 from $449,818 in the third quarter ending September 30, 2005. All figures are in U.S. Dollars, converted from Chinese Yuan on August 25, 2006.

Jiangping Jiang, chairman and CEO of Universal Travel Group, said, "The Company continues to build on the momentum of our second quarter performance. We have historically been experiencing significant growth that management feels can be attributed to exclusively servicing a high-growth geographic niche market. We have proven our ability to increase profits through an established customer base, the integration of a sophisticated electronic infrastructure (on-line ticket booking and ordering systems), and aggressive marketing initiatives."

About Universal Travel Group

Universal Travel Group, through its wholly owned subsidiary Yu Zhi Lu Aviation Service Company Ltd. ("YZL"), is engaged in travel services pertaining to domestic and international lines through Hong Kong, Macau, and Taiwan. The Company's core services include booking services for air tickets, hotels, and restaurants, as well as tour routing for customers. For more information visit www.chutg.com.

The Private Securities Litigation Reform Act of 1995 provides a "Safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involved risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.

Contact Information

  • For further information, contact:

    At the Company:
    Universal Travel Group
    Jacalyn Guo
    Investor Relations
    (310) 443-4151
    Email Contact

    Investor Relations:
    OTC Financial Network
    Peter Clark
    Investor Relations
    781-444-6100, x629
    Email Contact
    www.otcfn.com/utvg