China Premium Lifestyle's Mr Richard Lee Man Fai Awarded "Commander of the Order of the Star of Italian Solidarity".

HONG KONG -- The Board of Directors of China Premium Lifestyle Enterprise, Inc. have 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. During the ceremony, the Italian Prime Minister highly praised the efforts of Mr. Lee and encouraged him to continue the promotion of cultural and business exchanges between Italy and China.

"I am extremely honored to be bestowed with the Commandership by the Italian people and will dedicate my best efforts in bridging the relationship between the two great countries," said Mr. Lee. This was done in recognition of Mr. Lee's contribution in promoting Italian culture and business in Hong Kong and China since the early '90s, such as introducing the first Ferrari and the first Maserati to China and making these markets key growth areas of these Italian super cars. Mr. Lee was also elected as an Honorable Member of the Organizing Committee of the Year of Italy in China 2006.

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.

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.

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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