Teda Travel Group, Inc., announced today it has signed a Definitive Sale and Purchase Agreement to acquire a majority interest in Teda Resort Alliance Development Co. Ltd. (TRAC), the largest timeshare company in China, with a current estimated 80% share of the timeshare market.

Teda Travel Group CEO, Mr. Godfrey Hui said, "Timeshare is a part of the multi-billion dollar travel industry, and we see this type of offering as being key to our suite of complete travel-related services.  Timeshare owners around the world have expressed an overwhelming desire to participate in timeshare operations in China, which currently is under penetrated.  The acquisition of TRAC will make us the timeshare leader in China, and sets Teda Travel Group on its path to becoming a leader in the China travel industry."

The acquisitions will be done through a blend of restricted stock and cash, not to exceed US$400,000.

"The acquisition is strategically important for Teda Travel Group's fast growing development in the travel industry in China," explained Mr. Hui. Established in 1999, TRAC provides timeshare services for customers in China, and is the largest partner of RCI, a division of Cendant Corporation and the biggest timeshare operator in the world.

TRAC has a customer base of over 3,000 members and has been registering substantial growth due to vast choices of hotels and resorts available.  TRAC is widely acclaimed as the first successfully run timeshare operator in China. TRAC also is an owner of eight hotel properties in both China and Southeast Asia, and has an extensive network of exclusive sales agents throughout China.

Teda Travel Group is a part of the $70 billion a year travel industry in China.  The Group is located in the Tianjin, and is a part of the Tianjin Economic Development Area (TEDA).  Tianjin is the third largest city in China and the second largest Economic Development zone behind Shenzhen.

Ms. Sherry Sun, General Manager of TRAC comments, "We look forward to working with Teda Travel Group on our expansion initiatives.  We are very excited to be the first company acquired by the Group and are confident we'll benefit from this relationship.  The strong growth outlook of TRAC will definitely contribute positively to the Group's bottom line."