China Premium Lifestyle Enterprise, Inc.

Aug 22 2007

Hong Kong, (Aug 22 2007) – China Premium Lifestyle Enterprise, Inc. (OTCBB:CPLY) today reported net sales for the quarter ended June 30, 2007 of approximately $25.1 million, a 60% increase over net sales for the similar period one year ago of approximately $15.7 million. The company reported a net profit for the quarter of approximately $388,598, which represented a reduction from the net profit of $597,462 in the previous year’s quarter. However, on a quarter-to-quarter basis, the company’s net profit of $388,598 marked a turn-around from the first quarter net loss of approximately $260,000.

For the six month period ended June 30, 2007, the Company’s reported net sales of approximately $42.1 million represented a 69% increase over the comparable six month period one year ago when the company reported approximately $24.9 million. For the six month period the company reported net income of $128,599 as compared to net income of $251,900 for the previous period.

The company attributed the growth in sales to its new and used vehicle trading segment, with significant increases in deliveries of Ferrari 8-cylinder models, the F430 and F430 Spider, together with the sellout performance of the new Ferrari 12-cylinder, the 599 GTB Fiorano. Vehicle sales were approximately $39.5 million for the six month period of 2007 compared to approximately $22.5 million in the similar period one year ago. Sales of parts and service increased slightly in the six month period to approximately $2.6 million as compared to approximately $2.4 million for the preceding period. The increase in parts and service sales was attributed to significant growth of both Ferrari and Maserati customers during the last few years, now requiring parts and service for regular maintenance.

Richard Lee, Chairman and CEO, stated: “I am very pleased to report that we continue to show high growth in our sales of new and existing cars as well as the beginning of growth in parts sales and service. This strong foundation enables us to incorporate other high end brands into our platform as we continue to build the portfolio of China Premium Lifestyle Enterprise. As previously announced, we have recently signed a letter of intent to acquire the sole distributorship of luxury yacht brands of Ferretti and Horizon through the acquisition of their respective distribution companies.

Joseph Wong, CFO added: “Our operations generated cash resources of approximately $3.3 million for the six months ended June 30, 2007, compared to generating cash resources of approximately $756,000 for the similar period one year ago. This was a result of our increased sales. Our account receivables decreased by approximately $5.7 million in the six month period ended June 30, 2007, primarily due to the collection of a receivable pursuant to certain sales recognized in the fourth quarter of 2006 and first quarter of 2007.”

China Premium Lifestyle Enterprise, 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.

Jason Assad C&H Capital Inc. 678-570-6791 jasona@chinapremiumlifestyle.com