Jupiter/MingHe-Han Receives Orders Totaling US $112 Million for Initial 75 Log Homes.

Business Editors

BEIJING--(BUSINESS WIRE)--April 1, 2002

First Phase of Olympia Villa Project Totaling 200 Homes

Expected to be Completed by End of August

Jupiter Enterprises, Inc. (OTCBB:JPEN), announced today that MingHe-Han S & T Co., Ltd. has received two contracts totaling US $112 million for 75 log homes for the Olympia Villa's project in the district of Shunyi, Beijing City.

Beijing New Era Weiye Real Estate Development Company and Herbei Industrial Company have contracted for 50 and 25 log homes respectively. All parties have received all necessary government approvals and licenses.

This First Phase, comprising a total of 200 homes ranging in size from 2,000-6,000 square feet, is expected to be completed by the end of August. A total of 800 homes are planned to be built that include high-speed Internet access and international styled interiors. Original Log Cabin Homes, Rocky Mount, North Carolina, will provide the log cabins and were chosen for having developed a worldwide reputation for quality, innovation and service. Original Log Cabin Homes can be found across the United States and in more than 50 countries worldwide.

MingHe is a 70% partner with Beijing Shunyi Dalong Chengxiang Construction Development Corporation ("BSDC"), the real estate construction arm of the district government of Shunyi, Beijing City. MingHe will act as general contractor and developer of the project. BSDC will contribute the land and infrastructure, including roads, electric & water. Groundbreaking on Olympia Villas is estimated to begin this spring.

The District of Shunyi, Beijing City, home of the Olympia Villa's development, will be host to 46 Olympic events. The Olympia Villa's project directly adjoins the Wenyu River where many of the water sports events will be held.

Michael A.J. Harrop, Chairman of Jupiter Enterprises commented, "I am happy to report we are right on schedule for the First Phase that we announced in January. BSDC has been a good partner in this project and we look forward to working with them on this and other projects. With this contract, we have now booked approximately US $172 million in gross revenues thus far this year compared to approximately US $102 million in all of 2001. We expect to generate additional contracts as the year progresses. The significant progress we are making is indicative of our strong position to take advantage of the dynamic growth going on in China and especially the Beijing area. This is based on our construction experience in China, the relationships we have developed and our reputation."

The Market

China's current WTO status, ongoing economic expansion, and the 2008 Beijing Olympics have resulted in significant construction of commercial and residential buildings all over China. Beijing is the center of construction growth. The Yong Feng High-Tech District of Beijing, currently under development, requires steel structure buildings with a total square footage exceeding 20,000,000 square feet to be built within the next 5 years. As part of the pollution and environmental clean-up efforts for the 2008 Beijing Olympics, Government has required that all industrial buildings inside the Beijing Third Ring Road must be moved outside of Beijing City within 3 years. This massive relocation effort represents over 100,000,000 square meters of new construction.

Beijing Shunyi Dalong Chengxiang Construction Development Corporation

BSDC was founded in 1987 and is a state owned enterprise with fixed assets of over 500 million RMB. They currently employ approximately 1,000 skilled, technical and support staff that oversee and run its 20 subsidiary units. The company had been chosen as one of China's top 100 real estate development companies and ranked in the top 10 enterprises in Shunyi.

Jupiter Enterprises, Inc.

Jupiter Enterprises, Inc. has entered into a Letter of Intent to acquire 100% of Beijing MingHe-Han S&T Enterprise Group ("MingHe"), a structural steel fabrication joint venture operating in Mainland China. The Company and Sellers have executed a Preliminary Plan of Reorganization and the Company is amending its Form 8-K for submission to the SEC.

MingHe has been engaged in the design, manufacture and erection of light steel structure building systems since its inception in 1992. MingHe was the first to import American advanced steel products and production equipment, along with technology and design software, to Mainland China, and was the first company to import and build with lightweight steel building fabrication systems in the Chinese construction industry. MingHe has designed, fabricated, and built over 150 nationwide projects totaling over 1,000,000 square meters of commercial, office and warehouse buildings, including the 60,000 square-meter Daewoo plant in Shandong Province and the landmark 90,000 square-meter Fujian Automobile Plant in Fujian Province. MingHe has developed from design to erection since 1995. It is one of the few construction firms in its markets that are ISO 9002 certified for the production, installation and servicing of steel grid and arch structures.

MingHe plans to design and fabricate 250,000 square meters of light and heavy industrial buildings per year as part of the Factory Relocation Program preceding the Beijing Olympics. MingHe will also bid on infrastructure and facility contracts to be awarded as part of the main Beijing Olympics infrastructure, including as General Contractor for other bidders and government agencies.

Safe Harbor 

This press release contains "forward-looking statements" within the meaning of Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities Exchange Act. Actual results could differ materially, as the result of such factors as: (1) competition in the markets for the Company's products and services; (2) the ability of the Company to execute its plans; (3) construction delays and (4) other factors detailed in the Company's public filings with the SEC. By making these forward-looking statements, the Company can give no assurances that transactions described in this press release will be successfully completed, and undertakes no obligation to update these statements for revisions or changes after the date of this press release.