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April 20, 2004
Largo Vista Developing LPG Consortium in
Guizhou Province, China; Possible Ownership of LPG Depot Being
Negotiated
NEWPORT BEACH, Calif., April 20 /PRNewswire-FirstCall/
-- Largo Vista Group, Ltd. (OTC Bulletin Board: LGOV - News),
(http://www.largovista.com) an international energy trading
and service company with headquarters in the U.S. and offices
in China and Vietnam, today announced it has reached an agreement
to end its lease of an LPG (liquid petroleum gas) depot in
Zunyi, China. "The termination of the
agreement significantly lowers Largo Vista's overhead and allows
the Company to continue its LPG retail and wholesale operations
in Zunyi, including its LPG pipeline construction business," said
Denise Deng, Largo Vista's General Manager in Zunyi.
"We are attempting to form a consortium of smaller LPG distributors,
creating an opportunity for them to purchase part of another
LPG depot with the assistance of our lending institution," Denise
said. "These retail outlets will become co-owners of the depot
and will be able to take advantage of wholesale pricing of the
LPG. Largo Vista will remain the majority owner of its depot.
The advantage to Largo Vista is that the smaller companies are
locked into the business from the start, which will support the
operations of the depot."
"The response to join us by smaller LPG operations has been
promising," said Ms Deng. "We are confident that this business
strategy will pay significant dividends for Largo Vista, its
shareholders, and our future partners."
Largo Vista has completed the only LPG pipeline project in Zunyi,
one of the major cities in Guizhou Province, population 40 million,
and is developing a second pipeline project there. It has announced
the potential to build more pipelines in that city. LPG is an
affordable, environmentally sound alternative to the traditional
use of coal or wood to cook or heat the home.
Forward-Looking Statements
Certain statements included herein may contain forward-looking
information within the meaning of Rule 175 under the Securities
Act of 1933 and Rule 3b-6 under the Securities Exchange Act of
1934, and are subject to the safe harbor created by those rules.
All statements, other than statements of fact, including, without
limitation, statements regarding potential future plans and objectives
of the company, are forward-looking statements that involve risks
and uncertainties. There can be no assurance that such statements
will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements.
These risks and uncertainties, and certain other related factors,
are discussed in the Company's Form 10-KSB, Form 10-QSB and other
filings with the Securities and Exchange Commission. These forward-looking
statements are made as of this date and the Company assumes no
obligation to update such forward-looking statements as a result
of a number of factors. These risks and uncertainties, and certain
other related factors, are discussed in the Company's Form 10-K,
Form 10-Q and other filings with the Securities and Exchange
Commission. These forward-looking statements are made as of the
date of this release and the Company assumes no obligation to
update such forward-looking statements.
Contact:
Largo Vista Group
Investor Relations, 949-252-2180
Source: Largo Vista Group, Ltd.
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