China Premium Lifestyle Confirms Guidance for 2006 Year.

HONG KONG -- The Board of Directors of China Premium Lifestyle Enterprise, Inc. ("China Premium") (OTCBB: CPMM) today confirmed financial guidance, in anticipation of the filing of its annual report on Form 10K, for the year December 31 2006, expected shortly. The Company confirmed that sales for the year were anticipated to exceed $69 million with net profit expected to be over $1.5 million before minority interests, after accounting for certain charges incurred with respect to the merger with Xact Aid Inc. during the year.

In announcing this guidance, Richard Lee, Chairman of China Premium said: "I am very pleased that our financial performance during the year is on track to be a record for the company and endorses our business strategy of becoming a leading channel for premium and luxury products to the highest echelon of Chinese consumers." Mr Lee continued, "While our Ferrari /Maserati business in China and Hong Kong continues to shine, I am excited by our recent agreement with Falber Confezioni Srl to exclusively distribute the John Richmond collection of fashion brands. This initiative represents the beginning of China Premium's development outside of the luxury auto market and will ultimately have the effect of enhancing the profitability of our business."

China Premium Lifestyle Enterprise, Inc., 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.

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the Company and its subsidiaries. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by the Company may differ materially from these statements due to a number of factors. Any forward-looking statements speak only as of the date made. Statements made in this release that are not purely historical are forward-looking statements, beliefs, plans, expectations or intentions regarding the future. Risk factors that may cause results to differ from projections include, without limitation, loss of suppliers, loss of customers, inadequate capital, competition, loss of key executives, declining prices, and other economic factors. The Company assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. Investors should independently investigate and fully understand all risks before making investment decisions.