Grand Power Logistics Group Inc.
TSX VENTURE : GPW

Grand Power Logistics Group Inc.

July 06, 2007 16:28 ET

Grand Power Acquires 60% Stake in Redcap Logistics Ltd.

CALGARY, ALBERTA and HONG KONG, CHINA--(Marketwire - July 6, 2007) - Grand Power Logistics Group Inc. ("Grand Power") (TSX VENTURE:GPW) is pleased to announce that effective July 3, 2007, its principal operating subsidiary, Grand Power Express International Limited ("GP Express"), acquired a 60% stake in Redcap Logistics Ltd. ("Redcap") through Metroplus Asia Limited ("Metroplus"), GP Express' newly established subsidiary registered in the British Virgin Islands.

Metroplus was established as a holding company and a means of facilitating further growth and business development for GP Express in the logistics and air cargo sectors. Redcap is a Hong Kong based company that will allow GP Express wider access in Hong Kong to the co-load markets to the United States and other overseas destinations.

GP Express will invest up to HK$1MM (approx. C$135,300) as working capital to fund the expansion of this enterprise into new markets. The minority partner will manage the sales and operations of Redcap.

Ricky Chiu, President and CEO of Grand Power Logistics Group said, "We continue to evaluate and implement cost-effective strategies to expand our market share in Hong Kong and other key cargo hubs, particularly in the co-loading or air cargo consolidation markets. This strategy is one which we feel will be most effective to grow our business and strengthen our bottom line."

About Grand Power Logistics Group Inc.

Grand Power Logistics Group Inc. operates principally through its wholly owned Hong Kong based subsidiary, Grand Power Express International Limited (GP Express) and provides air-freight forwarding and sea-freight services, customs brokerage, logistics, warehousing and distribution, as well as other value added services. GP Express has established operations in various regions, particularly in the Greater Pearl River Delta (GPRD), China's largest economic region. GP Express' Subsidiaries or Branch Offices in this region are located in Macau, Shenzhen, Guangzhou, and Jiangmen. GP Express also operates in other regions through Subsidiaries and Branch Offices or Supporting Offices in Shanghai, Taipei, Bangkok and Los Angeles.

Forward-looking statements: Statements included in this press release that are not historical facts may be considered "forward looking statements". All estimates and statements that describe the Company's objectives, goals or future plans are forward looking statements. Forward-looking statements involve inherent risks and uncertainties where actual results could differ materially from those currently anticipated.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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