China Premium Lifestyle Says Recent News Regarding Investment in Hong Kong IPO of Belle by LVMH's Major Shareholder Confirms Strength of Luxury Market Growth.

HONG KONG -- China Premium Lifestyle Enterprise's (OTCBB:CPMM) Chairman Richard Lee today commented on the recent news regarding the major shareholder of the luxury goods company Louis Vuitton Moet Hennessey (" LVMH") taking a three percent stake in Belle International Holdings Ltd ("Belle"), a Chinese based distributor of premium footwear, that is planning an initial public offering of its shares in Hong-Kong.

"I am very encouraged by this news, which confirms international recognition of the value growth we are seeing in the market for premium products in Greater China," said Mr. Lee. "Clearly, the fact that one of the world's top luxury products distributors sees value in a relatively low profile sector of the premium products business in China, reflects well on the future of this sector."

Mr. Lee added, "China Premium was a pioneer in the introduction of the highest end products into China through our automotive products division brands including Ferrari and Maserati. On the backbone of our significant base of high and ultra high net worth customers in China, we are building a business similar in structure to LVMH and our recently announced entry into the premium fashion segment through signing of the Italian based brand John Richmond is a reflection of our commitment to establish as the leading distributor of luxury products in China," Mr. Lee concluded.

China Premium Lifestyle Enterprise has said previously that the company plans to continue to build its luxury product offerings through a variety of products in addition to its very successful Ferrari and Maserati businesses. The company recently opened its 6,000 square foot, three-floor state-of-the-art Ferrari/Maserati dealership, including service facility, showroom and customer center, in the very prosperous city of Dalian, Liaoning Province, a key industrial province in China's north east and one of the country's wealthiest areas.

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 brands and 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.