China World Trade Corporation announced today that New Generation Group, a majority-owned subsidiary, was ranked one of the top air-ticketing company in China, reaching US$43 million in value of transactions for the six months ended June 30, 2004. The Company sold over 440,000 tickets and 710,000 tickets for the six and nine months ended September 30, 2004, respectively.

By comparison, Elong's, air-ticketing sales were only 174,600 tickets for the corresponding nine-month period. About 80% of the total revenue of New Generation is generated from air-ticketing business. The remaining revenue comes from hotel booking, package tours and insurance businesses. About 80% of Elong's revenue is derived from hotel bookings with the balance coming from air-ticketing, short-messaging services, Internet advertising, and the sale of co-branded and VIP membership cards.

We are experiencing a 100% growth in the air-ticketing business over 2003 and we expect the result for the air-ticketing and related businesses will do even better in 2005, said Chi Hung Tsang, Chairman of China World Trade Corporation. We intend to further develop the on-line booking of airline tickets and hotel businesses. In addition, we have been actively involved and negotiated several value-added businesses in the new Guangzhou's Baiyun Airport and will announce them once we have come up with definitive agreements.