SOURCE: Dragon Capital Group Corp.

December 19, 2006 08:00 ET

Dragon Capital Group's Subsidiary, Fomde, Signs Five Contracts Valued in Excess of $500,000

SHANGHAI, CHINA -- (MARKET WIRE) -- December 19, 2006 -- Dragon Capital Group Corp. (PINKSHEETS: DRGV), a leading holding company of emerging technology companies in China, announced today that its subsidiary, Shanghai Fomde Information Technology Company, Limited ("Fomde"), has signed five contracts with Qidong City Government of Jiangsu Province, Nantong University of Jiangsu Province, Qidong Middle School of Qidong City, Zhegui Middle School of Qidong City for developing its computerized integration systems. The five contracts have a value of approximately 4 million RMB in total (approximately US$500,000).

Under the contractual arrangements, Fomde will be responsible for building fully integrated computerized systems which will include monitoring system facilities, multi-media teaching facilities, synthesis wiring, computer networking, telephone-switching, site security, digital conferencing, one-card security access, hotel management and various other applications for each customer.

Lawrence Wang, CEO of Dragon Capital, commented, "In China, a growing number of properties, including commercial, residential and educational, need fully integrated computerized control systems. As a leading company in this field, Fomde will take advantage of this great opportunity to develop its business. Fomde has been certified by the Ministry of National Architecture of China and the Ministry of Information Technology of China. It was certified ISO 9001 in December 2004. As we see demand for these services growing exponentially in China, we anticipate receiving more contracts in 2007 which will fuel substantial growth for this subsidiary in the years to come. We are excited that our quality of design and work has been increasingly recognized in China as evidenced by these contracts and additional opportunities that we are now negotiating."

About Dragon Capital Group Corp.

Dragon Capital Group Corp. (PINKSHEETS: DRGV) is doing business in China through its subsidiaries. Dragon was established to serve as a conduit between Chinese high-growth companies and Western investors. DRGV 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 to capital, merger & acquisition, business valuation, and revenue growth strategies. DRGV has developed a portfolio of high-tech companies operating in China. For more information about DRGV, please visit

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