Grand Power Logistics Group Inc.
TSX VENTURE : GPW

Grand Power Logistics Group Inc.

August 22, 2007 09:00 ET

Grand Power Arranges HK$ 65MM Loan Facility with HSBC

CALGARY, ALBERTA and HONG KONG, CHINA--(Marketwire - Aug. 22, 2007) - Grand Power Logistics Group Inc. ("Grand Power") (TSX VENTURE:GPW) is pleased to announce that its principal operating subsidiary, Grand Power Express International Limited ("GP Express") of Hong Kong, has signed an agreement with HSBC for a HK$65MM (approx C$8.9MM) accounts receivable loan facility. In addition, this facility can be further increased to HK$80 Million, based on GP Express' future turnover trend. The GP Express' current loan facility of HK$25MM with HSBC will become a part of this new facility.

Ricky Chiu, President and CEO of Grand Power Logistics Group said, "For many logistics companies and freight forwarders such as Grand Power, accounts receivable are the main assets we have, and utilizing that as a liquid asset makes a lot of sense for us. This alternative provides us with additional, cost-effective working capital to further support our rapid growth strategy."

Chiu adds, "We are soon heading into our peak season from mid-September through mid-December, so the timing works well for us. This will allow us to continue to expand our business and increase our cash flow for this peak season and beyond".

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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