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Beginning April 1, 2009, Universal Travel Group's TRIPEASY Kiosks will have the ability to deliver cell phone recharge services, significantly expanding the Company's potential user base. According to ChinaNews.com, there were approximately 540 million cell phone users in China in 2007, which is expected to grow to 730 million by 2010. In addition, large tier one cities, such as Shenzhen, Guangzhou and Chongqing, where Universal Travel has a strong presence, have about 50 million cell phone users combined. Moreover, these users require a recharge inquiry every month.
While the Company has a current membership base of 2.5 million people, with recharge functionality, the Company expects its Kiosks traffic to more than double from current levels via return trips to its Kiosks by cell phone recharge customers. The increased traffic could generate significant opportunities for the Company to promote and sell its traditional air ticketing, hotel booking and packaged tours businesses. The TRIPEASY Kiosks accept bank cards, and provide secured payment functions to finalize transactions. Universal Travel will continue its efforts to add functionality to increase its Kiosks' traffic flow including utilities payment, lottery purchase and transportation IC card recharge.
By mid-year, Universal Travel expects to have several hundred Kiosks in place. Since the Kiosks handle all related travel inquiries, the Company expects them to strengthen its relationships with travel industry participants including suppliers, customers, airlines and hotels. This should enhance its ability to receive discounts from tourist attractions, local governments who are issuing travel vouchers and hotels, and pass savings on to customers, further benefiting Universal Travel Group's existing loyal customer base. In addition to providing rich travel information to a unique customer base, easy payment functions and additional value-added services, the TRIPEASY Kiosks have high visual appeal, creating the first travel media channel in China and could add another recurring revenue stream to the Company in the near future.
"We are pleased to take the next step in rolling out our revolutionary TRIPEASY Kiosks by adding increased functionality, which we expect will significantly drive customer traffic," said Ms. Jiangping Jiang, Chairwoman and CEO of Universal Travel Group. "We are looking for the Kiosks to make a significant contribution to achieving our growth objectives in 2009. Also, as our Kiosks attract a more targeted audience interested in travel related products and services, and users embrace the concept, we expect to gain marketing efficiencies in the process."
About Universal Travel Group Inc.
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. For more information about the company, please visit http://us.cnutg.com , and http://www.cnutg.com.cn for the service website.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press release contains certain statements that may include "forward-looking statements" within the meaning of federal securities laws. All statements, other than statements of historical facts, included herein are "forward-looking statements." Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the Company's ability to successfully expand its market presence and those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For further information, please contact:
Company Contact:
Universal Travel Group Inc.
Mr. Jing Xie
Chief Financial Officer
Tel: +86-755-8366-8489
Email: 06@cnutg.cn
Web: http://us.cnutg.com
Investor Relations Contact:
CCG Investor Relations
Mr. Crocker Coulson, President
Tel: +1-646-213-1915 (NY office)
Email: crocker.coulson@ccgir.com
Mr. Gary Chin
Tel: +1-646-213-1909
Web: http://www.ccgirasia.com
SOURCE Universal Travel Group Inc.
http://us.cnutg.com
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