Grand Power Logistics Group Inc.
TSX VENTURE : GPW

Grand Power Logistics Group Inc.

November 24, 2006 17:20 ET

Grand Power Announces a Proposed Private Placement

CALGARY, ALBERTA AND HONG KONG, CHINA--(CCNMatthews - Nov. 24, 2006) - Grand Power Logistics Group Inc. (TSX VENTURE:GPW) ("Grand Power") is pleased to announce that further to its press release dated November 10, 2006, the Corporation proposes to issue by way of a non-brokered private placement up to 8,500,000 common shares (the "Common Shares") at a price of $0.55 per Common Share, for gross proceeds of up to $4,675,000.

As previously announced, Tong (Ricky) Chiu intends to sell up to 8,500,000 Common Shares of the Corporation at a price of $0.55 per share and use the proceeds of such sale to purchase up to 8,500,000 Common Shares of the Corporation under the private placement.

The proceeds of the private placement will be used for working capital and expanding the Corporation's business activities in Hong Kong, Macau and China.

A finder's fee of 10% of the gross proceeds of the sale of the Common Shares will be paid.

About Grand Power Logistics Group Inc.

Grand Power Logistics Group Inc operates principally through its wholly owned subsidiary, Grand Power Express International Limited (GP Express) and GP Express' wholly-owned subsidiaries in Macau and China. GP Express commenced business in Hong Kong in March 2002 primarily as an airfreight forwarding service, but also provides sea freight services, customs brokerage, logistics, warehousing and distribution, as well as other value added services for clients. In May 2006, the company commenced business operations in China through a subsidiary office in Shanghai. The Grand Power Group is uniquely positioned in Asia, with its operating headquarters in Hong Kong and subsidiaries or supporting offices in Macau, Shanghai, Guangzhou, Taipei and Bangkok.

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 has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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