Grand Power Logistics Group Inc.
TSX VENTURE : GPW

Grand Power Logistics Group Inc.

March 24, 2008 09:30 ET

Grand Power Announces Private Placement

CALGARY, ALBERTA and HONG KONG, CHINA--(Marketwire - March 24, 2008) - Grand Power Logistics Group Inc. ("Grand Power" or the "Corporation") (TSX VENTURE:GPW) is pleased to announce that the Corporation proposes to issue by way of a non-brokered private placement up to 6,250,000 common shares (the "Common Shares") at a price of $0.80 per Common Share, for gross proceeds of up to $5,000,000.

The proceeds of the private placement will be used for working capital and expanding Grand Power's business activities in Hong Kong and China, including its recent expansion of its Shanghai and Guangzhou operations. (See press release dated March 17, 2008 for an update regarding Grand Power's China expansion.) With its expansion in China, Grand Power is well positioned to significantly increase its revenue in its traditional core air freight forwarding segment, and expand into complementary higher margin logistics segments including direct sales, ocean shipping, warehousing and customs brokerage. (See press release dated February 26, 2008 for an update regarding Grand Power's growth strategy.)

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.

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

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