China Premium Lifestyle's CEO Richard Lee Man Fai Honored as "Commander of the Order of the Star of Italian Solidarity".

HONG KONG -- The Board of Directors of China Premium Lifestyle Enterprise, Inc. (OTCBB:CPMM) announced that its Chairman and CEO, Mr Richard Lee Man Fai, was bestowed the award of the "Commander of the Order of the Star of Italian Solidarity" by His Excellency the Italian Prime Minister, the Hon. Romano Prodi, during a special ceremony at the Italian Embassy in Beijing during Mr Prodi's official visit to China in September '06.

This award represents the highest and most prestigious honor that can be bestowed upon a citizen by the Italian premier and was awarded to Mr. Lee for his many years of service and contributions to Italian business and for his continuing promotion of Italian culture in China, including introducing the first Ferrari and Maserati sports cars and enhancing awareness of Italian lifestyle products in the rapidly growing luxury consumer market. In accepting the award Mr. Lee commented; "I am extremely honored to be bestowed with this award from the Italian people, who may rest assured that I will continue to dedicate my efforts in developing awareness of Italian culture and lifestyle in China."

Other notable recipients of the award include the founder of Ferrari SpA, Enzo Ferrari, and Mario Andretti, the only driver ever to win the Indianapolis 500, Daytona 500 and the Formula 1 World Championships.

As a further endorsement of his role in the development of Italy/China relations Mr. Lee was also elected as an Honorable Member of the Organizing Committee of the Year of Italy in China 2006.

China Premium Lifestyle Enterprise, through its 49%-owned entity, has established itself as a leading Ferrari and Maserati distributor and dealer in Hong Kong and China, respectively, having been affiliated with Ferrari and Maserati since 1992 and 1994 respectively. The company is expanding its offerings to include other luxury goods from around the world, which it markets to its already established base of wealthy Chinese individuals.

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