SOURCE: Dragon Venture

October 05, 2005 16:05 ET

Dragon Venture Subsidiary, Fomde Receives Three Contracts Valued Over US$1.25 Million

FORT LAUDERDALE, FL -- (MARKET WIRE) -- October 5, 2005 -- Dragon Venture (OTC: DRGV), a leading holding company of emerging high-tech companies in China, announced today that its subsidiary, Shanghai Fomde Information Technology Company, Limited ("Fomde"), has received three contracts from Jiangsu Province Jidong Middle School, Shandong Zibo Xinhua Pharmaceutical Plant, and Jiangsu Qidong County Education Bureau, to develop their computerized integration systems. Three contracts are worth approximately $1,250,000 USD. These recent contracts are the latest in a string of significant contracts received by Dragon's subsidiaries. Recent public communications can be found at the company's website: www.dragonventure.net

Under the terms of the contract, Fomde will design and install a computerized integration control system including construction of the Intranet, Network, audio system, LED system, and security system for the school gymnasium.

Chairman and CEO Lawrence Wang stated, "Obviously we are very pleased with these new contracts. In recent months, we have secured in excess of $5 million USD in new purchase orders. Dragon is committed to emerging as a leading incubator for small sized emerging high-tech companies in China."

Mr. Wang concluded, "As we look ahead to the next fiscal year starting on January 1, 2006, we are very optimistic about our prospects. Business continues to accelerate and Dragon Venture has the financial backing and proven management team needed to execute on our growth plan. Overall, we expect to achieve record revenues and net profit growth for the full year 2006."

About Dragon Venture

Dragon Venture ("Dragon") is doing business in China through its subsidiaries. Dragon was established to serve 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 and 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. In addition, the company acquires and invests in innovative technology companies in China or forms joint ventures with both American and Chinese companies, focusing on emerging technology industries including Telecommunication, Information Technology, Wireless applications, and other high-tech industries. For more information about Dragon Venture, please visit http://www.dragonventure.net

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