Grand Power Logistics Group Inc.
TSX VENTURE : GPW

Grand Power Logistics Group Inc.

September 13, 2005 09:00 ET

Grand Power Logistics Announces Signing of Agreement on a Major Acquisition

CALGARY, ALBERTA AND HONG KONG, PEOPLES REPUBLIC OF CHINA--(CCNMatthews - Sept. 13, 2005) - Grand Power Logistics Group Inc. (TSX VENTURE:GPW) (the "Corporation"), further to the news release of September 7, 2005 on the signing of the letter of intent, today announced that it and its wholly owned Hong Kong subsidiary, Grand Power Express International Limited of Hong Kong ("Grand Power Hong Kong"), have entered into a Share Purchase & Exchange Agreement dated September 12, 2005 with Grand Power Express Forwarders Co. Ltd. of Macau ("Grand Power Macau"). The effective closing date for this transaction is September 1, 2005. As announced earlier, under the terms of the agreement Grand Power Hong Kong will acquire 100% of the shares of Grand Power Macau for HK$13.75 million (approx. CDN$2.17 million). The payment to the shareholders of Grand Power Macau for the acquisition will comprise of HK$3.75 million in cash and HK$10,000,000 in common shares of the Corporation for 3,162,760 shares at a deemed price of CDN$0.50 per share.

Grand Power Macau is in the business of airfreight agent in operating inbound, outbound and logistics cargo services in Macau. In addition, Grand Power Macau has a CEPA (Closer Economic Co-operation Agreement) license, allowing it to conduct logistics business in Shanghai, the People's Republic of China.

The acquisition of Grand Power Macau is a non-arm's length transaction and subject to regulatory approval. The Corporation will now proceed to seek the regulatory approval for this transaction.

About Grand Power Logistics Group Inc.

Grand Power Logistics Group Inc. operates principally through its wholly owned subsidiary, Grand Power Express, which commenced business in Hong Kong in March 2002 as an airfreight forwarding service. Although Grand Power Express is principally an airfreight provider, it also provides sea freight services, customs brokerage, logistics, warehousing and distribution, as well as other value added services for clients. The Grand Power group is uniquely positioned in Asia, with its headquarters in Hong Kong and supporting offices in Macau, Shanghai, Guangzhou, Taipei and Bangkok. The Company has obtained key agent status with eight (8) airlines such as Cathay Pacific and Thai Airways. Grand Power began trading on the TSX Venture Exchange in November 2004.

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

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