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May 6, 2009 - Universal Travel Group (OTC Bulletin Board:
UTVL) ("Universal
Travel Group" or the "Company"), a growing travel services provider in the
People's Republic of China ("PRC") specializing in online and customer
representative services to the travel service industry offering packaged tours,
air ticketing, hotel reservation and air cargo agency services, today announced
strong financial results for the first quarter ended March 31, 2009.
Revenue for the three months ended March 31, 2009 was
$17.4 million compared to $10.1 million for the same period in 2008, an increase
of approximately 72.4%. The increase in revenue was due to improved
weather conditions in the first quarter 2009, compared to the same period last
year when severe snowstorms struck most areas in China. The growth in revenue
was further supported by the Chinese government's effective economic stimulus
plans, creation of a new holiday policy to include a 3-day public holiday in
April -- "Tomb sweeping day", the successful rollout of additional TRIPEASY
Kiosks, and the Company's increased brand recognition.
About Universal Travel Group
Universal Travel Group, a growing travel services provider in the People's
Republic of China, is engaged in providing reservation, booking, and domestic
and international travel and tourism services throughout the PRC via the
internet and through customer representatives. Under the theme "Wings towards a
more colorful life" the Company's core services include tour packaging for
customers, booking services for air tickets and hotels as well as air cargo
transportation. In 2007, Universal Travel Group completed the acquisitions of
Speedy Dragon, specializing in air cargo transportation; Xi'an Golden Net,
specializing in travel packaged tours; Shanghai LanBao, specializing in hotel
reservation and Foshan Overseas International, a PRC-based company that handles
domestic and international travel inquiries. Universal Travel's goal is to
become the PRC's leading travel services provider in all fields of the tourism
industry including the aviation, cargo, hotel booking and tour packaging
segments.
Contact:
Web Site:
http://www.cnutg.com.
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