August 15, 2007 09:00 ET

ASAP Show Merges With Sino-American Petroleum Group

LOS ANGELES, CA--(Marketwire - August 15, 2007) - ASAP Show, Inc. (OTCBB: ASHI) announced yesterday that it acquired the outstanding capital stock of Sino-American Petroleum Group, Inc., a Delaware corporation that owns all the registered capital of Tongliao Yili Asphalt Company. Yili Asphalt is organized under the laws of the People's Republic of China and engaged in the business of refining heavy oil into asphalt, fuel oil and lubricants. With its acquisition of Yili Asphalt, ASAP Show terminates a Letter of Intent signed in December 2006 to merge with China Renyuan International.

In connection with the completion of the acquisition of Yili Asphalt, all members of the Board of Directors of ASAP Show besides Frank Yuan have resigned. Frank Yuan elected Chunshi Li, the Chairman of Yili Asphalt, to serve as a member of the Board, and together elected to Chunshi Li to serve as Chief Executive Officer and Chief Financial Officer of ASAP Show.

Prior to the Merger, ASAP Show assigned all of its pre-Merger business and assets to ASAP Holdings, Inc., its wholly owned subsidiary, and ASAP Holdings assumed responsibility for all of the liabilities of ASAP Show that existed prior to the Merger. At the same time, ASAP Show entered into a management agreement with Frank Yuan, its previous CEO, and ASAP Holdings, to provide for continuous operation of the pre-Merger business until ASAP Holdings can file a registration statement with the Securities and Exchange Commission to permit ASAP Show to distribute all of the outstanding shares of ASAP Holdings to the holders of its common stock.

Frank Yuan, CEO of ASAP Show, said, "Our Board unanimously agreed to terminate the merger with China Renyuan. After careful debate, ASAP Show management believes that they can best serve their shareholders' agenda at this point by merging with Sino-American Petroleum."

Mr. Chunshi Li, President and CEO of Sino-American Petroleum, added, "By merging with ASAP Show, Sino-American Petroleum will have a platform to access new capital to expand our operation in China."


ASAP Show Inc. is a trade show organizer that focuses on the apparel, textile, home textile and fashion industries. ASAP produces the ASAP Global Sourcing Show twice a year (February and August) in Las Vegas, arranges buying trips for buyers to visit factories in China and South Asia, and the Fashion International Trade Show ( FITS) -- the only Fashion Brand License Show for China domestic market. International Brand Management Consultants Corp (IBMC), a wholly owned subsidiary, has the master licensee agreement for 14 International Fashion Brands to enter China domestic market by utilizing franchise operation concept.

ABOUT Sino-American Petroleum:

Sino-American Petroleum Group, Inc. is the parent Company of Tongliao Yili Asphalt Co., Ltd. (Yili). Yili, a Chinese petroleum by-products manufacturer located at Tongliao, Inner Mogolia, China. The Company specializes in the manufacturing and refinement of asphalt products. It is the largest asphalt manufacturer in Inner Mongolia.

Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties. In such instances, actual results could differ materially as a result of a variety of factors including the risks associated with the effect of changing economic conditions at home and abroad, variations in cash flow, reliance on collaborative retail partners, and on new product development, variations in new product and service development, risks associated with rapid technological change, and potential of introduced or undetected flaws and defects in products and services and other risk factors detailed in forms filed with the Securities and Exchange Commission from time to time.

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