SOURCE: Genesis Technology Group, Inc.

July 06, 2005 06:30 ET

Genesis Hong Kong Subsidiary Signs Contract With Fantastic Holdings to Furnish 5,000 LCD Monitors

BOCA RATON, FL -- (MARKET WIRE) -- July 6, 2005 -- Genesis Technology Group, Inc. (OTC BB: GTEC), announced that its subsidiary, Genesis Hong Kong OEM Direct, signed a contract with Fantastic (Holdings) Company, Ltd. to furnish 5,000 LCD monitors. The total order would contribute about $640,000 to sales. Genesis management has projected that the Hong Kong subsidiary should add more than $6 million to annual revenues that had topped $23 million in the last fiscal year.

Ms. Melanie Eckenroth, Genesis Sales & Marketing Director, commented: "Our Hong Kong division continues to make progress. We established this subsidiary to accommodate our clients interested in import/export, including Barbara Palacios Design, Com-Guard, Diebold, Gulf South and now Fantastic Holdings. The advantages to operating in Hong Kong are well established, and Genesis plans to build on these to increase business and profitability.

"We have completed our first catalog of LCD monitors. This GHK Summer 2005 Catalog is viewable at http://www.genesis-technology.net/ghk.pdf or on our website under 'Subsidiaries.' Interested parties may request printed copies of the catalog by contacting our U.S., Hong Kong or Shanghai offices," reported Ms. Eckenroth.

About Fantastic (Holdings) Company, Ltd.

Fantastic Holdings Limited controls three companies: Fantastic Electronics Co., Ltd., Big Rice Trading (HK) Ltd., and Big Rice Network Consultancy Ltd. Fantastic Electronics is a leading private enterprise that integrates the developing, manufacturing, and marketing of quality LCD products. It has gained a significant share in overseas and domestic markets, and established a good and stable partner relationship with both reputable raw material suppliers and global customers. With branch offices in Shenzhen, China and Toronto, Canada, the Company is headquartered in Hong Kong at 21/F K. Wah Centre, 191 Java Road, North Point, Hong Kong. For reference, visit www.fantastic.gro.hk

About Genesis Technology Group, Inc.

Genesis Technology Group, Inc. (also referred to as "Genesis China") is a business development firm that fosters bilateral commerce between Western and Chinese companies. Genesis has created successful profit centers in product development, manufacturing, distribution, joint ventures and operational services. The Company has fully staffed offices in the United States, Hong Kong and China. Genesis has established effective working relationships with various governmental agencies, public institutions, and private industries in China. In addition, the company acquires and invests in innovative technology companies in China or forms joint ventures with both Western and Chinese companies, focusing on emerging technology and natural resource industries. For reference, visit www.genesis-china.net

About Genesis Hong Kong OEM Direct, Ltd.

Genesis Hong Kong OEM Direct, Ltd. ("GHK") leverages its position as first-tier distributor and its access to superior technology to develop and market LCDs and LCD products. GHK is engaged in the IT products business and specializes in the sale and export of LCD products such as Panel, LCD Monitor, LCD TV, PDP, etc. The business relies primarily on its close cooperation with numerous OEMs to offer high quality LCD products at the lowest cost, and secondly, GHK has the advantage of a direct sales network, which bypasses several layers of middlemen and trading companies, to deliver the best products at the best prices. As a subsidiary of Genesis Technology Group, GHK has unique access to cutting edge LCD technology coupled with the advantage of direct marketing channels in China and internationally. GHK can also accommodate Genesis clients in consummating transactions with the assistance of its banking relationship with Standard & Chartered Bank. The GHK office is located at 12/F, Seabright Plaza Unit D, 9-23 Shell Street, North Point, Hong Kong. For reference, visit www.genesis-technology.net/subs.asp

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 differ materially 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. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.

Contact Information

  • Contact:
    Genesis Technology Group, Inc.
    Kenneth Clinton
    Email: Email Contact
    Phone: 561-988-9880
    Fax: 561-988-9890