Grand Power Logistics Group Inc.
TSX VENTURE : GPW

Grand Power Logistics Group Inc.

October 20, 2008 09:30 ET

Grand Power Logistics Announces Private Placement

CALGARY, ALBERTA AND HONG KONG, CHINA--(Marketwire - Oct. 20, 2008) - Grand Power Logistics Group Inc. ("Grand Power" or the "Corporation") (TSX VENTURE:GPW) announces that it plans to proceed with a non-brokered private placement (the "Private Placement"), subject to regulatory approval, to raise up to $1,700,000 by issuing up to 8,500,000 Common Shares at a price of $0.20 per Common Share. The shares are subject to a four-month hold period from the closing date of 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 and China, including its expansion of its Shanghai operations.

It is expected that the directors, officers and employees of the Corporation will acquire at least 90% of the Common Shares to be issued under the Private Placement. The President and CEO of the Corporation, Mr. Rick Chiu, intends to purchase 5,000,000 Common Shares personally.

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, Beijing, Tianjin, Xiamen, Taipei, Bangkok and Los Angeles. www.grandpowerlogistics.com.

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

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