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Ferrari FXX Evolution Makes an Impression

China Premium Lifestyle Enterprise, Inc. today announced that Auto Italia Ltd., a wholly owned subsidiary of its 49%-owned entity Technorient Ltd., delivered two of only three FXX Evolution models to be built by Ferrari to Hong Kong customers during a handover ceremony in Fiorano, Italy, near the Italian car company’s factory on Wednesday 23 July. The third car was presented to a European client.

Ferrari FXX Evolution

Despite demand for the (approx.) US$2.8m super-sports car from numerous Ferrari collectors around the world, Auto Italia Ltd. proved successful in its bid to have two of the three allocated to its customers. Both clients exceeded the strict criteria set by Ferrari for ownership of this addition to its limited series range.

The FXX Evolution is a more extreme development of Ferrari’s track-based FXX (of which 30 examples exist), itself a derivative of its coveted Enzo (total production of 400). Powered by a hand-built 6.2 litre V12 motor producing 860 bhp, the FXX Evolution has been developed to enable the three fortunate owners to participate in a development programme conceived by Ferrari to test new technology in its cars.

Chairman and CEO of China Premium Lifestyle Enterprise, Inc., Mr. Richard Lee, said: “The fact that Auto Italia Ltd. proved successful in achieving an allocation of two of only three of these magnificent cars is testimony not only to the high esteem in which Ferrari holds our customers, but also the close relationship that we enjoy with the Company. Our Principals also fully recognise the importance of Hong Kong and thus China, and indeed the whole Asia region, and its ability to produce such devoted customers with the necessary financial strength to participate in such an exciting programme.”

China Premium Lifestyle Enterprise, Inc., through its 49%-owned entity, has established itself as a leading Ferrari and Maserati importer, distributor and dealer in Hong Kong and dealer in China, 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.

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