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China ACM Awarded New Contracts Totaling $4.1 Million

16 Jul 2009 16:35:00 GMT

China Advanced Construction Materials Group Awarded New Contracts Totaling $4.1 Million for Hangzhou-Ningbo Railway

NEW YORK and BEIJING, July 16 -- China Advanced Construction Materials Group, Inc. ("China ACM") (OTC Bulletin Board: CADC), a leading provider of ready-mix concrete and related services in China, today announced that it has been awarded two new contracts to provide concrete manufacturing services for the Hangzhou-Ningbo railway construction project. Under the agreement, China ACM will supply 500,000 cubic meters of concrete and expects to complete the project by mid-2011.

Upon completion, the Hangzhou-Ningbo railway will cover approximately 150 kilometers, or approximately 93 miles. Train speed on this line will approach 188 miles per hour and will reduce travel time between Hangzhou City and Ningbo City to less than one hour.

Mr. Xianfu Han, Chairman and Chief Executive Officer, stated, "We continue to gain traction in providing our manufacturing services for China's growing network of railway systems. We are in a unique position to win these railway projects as one of only a select group of companies authorized to supply ready-mix concrete for government infrastructure projects. Our competitive advantages also include our advanced technologies, lengthy warranty period and superior pricing. The high profile projects we have been involved with in and around the Beijing area serve as testimonials to the quality of our work and the reputation we have established."

Mr. Han continued, "High speed railways are an important element in the continued modernization of China. In total, we have been awarded 9 of these railway projects since the fiscal first quarter of 2009, which alone will generate more than $25 million of revenue in the next two years. We expect to announce similar contract awards in the coming weeks and months."

About China ACM

China ACM, founded in 2002 and based in Beijing, China, is a leading producer of advanced construction materials for large scale commercial, residential, and infrastructure developments. The company is primarily focused on producing and supplying a wide range of advanced ready-mix concrete materials for highly technical, large scale, and environmental construction projects. The company also aims to develop and produce new and innovative environmentally conscious construction materials.

China ACM provides materials and services through its seven ready-mix concrete plant network covering Beijing metropolitan area. China ACM owns one plant, leases two plants and has technical services and preferred procurement agreements with four other independently-owned plants. China ACM is ISO 9001 (product quality), ISO 14001 (environmental safety), and ISO 18001 (employment environment safety) certified. Additional information about the company is available at www.china-acm.com.

This press release contains "forward-looking statements" within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including changes from anticipated levels of sales, future national or regional economic and competitive and regulatory conditions, changes in relationships with customers, access to capital, difficulties in developing and marketing new products, marketing existing products, customer acceptance of existing and new products, and other factors. Additional Information regarding risks can be found in the Company's Annual Report on Form 10K and in the Company's recent report on Form 8K filed with the SEC. Accordingly, although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this press release.

Contact:
Crescendo Communications, LLC
David Waldman or Klea Theoharis
Tel: (212) 671-1020
Email: ir@china-acm.com
Web: http://www.china-acm.com

INDUSTRY REPORT – Chinese Economic Growth Rebounds

16 Jul 2009 15:50:00 GMT

In a published report in the July 16th edition of Marketwatch, China’s GDP is growing slightly faster than anticipated. Gross Domestic Product for the second quarter of ’09 grew 7.9% compared to the same quarter last year. This is as a result of a government-led stimulus package and strong bank lending which gave a jump start to domestic consumption and industrial activity.

The article went on to say: “The acceleration was higher than the 7.8% expansion anticipated by economists polled in a survey by FactSet Research and higher than the 7.7% tipped in a Dow Jones Newswires survey. It came after a string of declines, which slowed the nation's GDP growth rate to 6.1% in the first quarter.”

The higher than anticipated GDP numbers are good news for China Advanced Construction Materials (CADC: OTCBB). The company is a leading producer of construction materials for large scale commercial, residential, and infrastructure developments. It has already announced a number of railway contracts from the People’s Republic of China. In the first six months of this year, China ACM has been awarded three separate contracts valued at $7.5 Million. In May, the company reported Q3 fiscal revenues of $9.8 Million, an increase of 116% in Gross Profit, and reported net income of $2.3 Million (an increase of over $1 Million for the same time last year).

While there has been a world wide recession, the article states that China’s GDP numbers remain strong and should get stronger for the balance of the year. It states: “Economic growth in the first six months of the year was lifted to 7.1%, according to the data released by the National Bureau of Statistics, sustaining the economic rebound and keeping China on track to achieve its targeted growth rate of 8% this year.”

China ACM’s performance is expected to remain strong for the foreseeable future as that country continues to post solid GDP growth figures.

To access the article in its entirety, simply go to: http://www.marketwatch.com/story/chinas-economy-rebounds-though-prices-weaken

AGORACOM Investor Relations is pleased to bring you this Industry Report pertaining to China ACM (CADC: OTCBB). Feel free to comment on this report or any other facet of the company’s business on the discussion forum within the China ACM IR hub with AGORACOM ( http://agoracom.com/ir/chinaacm/forums/discussion ).

AGORACOM Investor Relations

China ACM Announces Reduction in Corporate Tax Rate to 15% from 25%

14 Jul 2009 12:51:00 GMT

China ACM Announces Reduction in Corporate Tax Rate to 15% from 25% and Receives Two-Year Extension on 6% Value Added Tax Credit

NEW YORK and BEIJING, July 14 -- China Advanced Construction Materials Group, Inc. ("China ACM") (OTC Bulletin Board: CADC), a leading provider of ready-mix concrete and related services in China, today announced that it has been issued the Enterprise High-Tech Certificate within the People's Republic of China (PRC). The issuing parties include the Beijing City Committee of Science and Technology, the Beijing City Department of Finance, the Beijing City Department of Taxation, and the Beijing City Department of Land. The certificate was awarded based on the company's involvement in producing high-tech products, its research and development, as well as its technical services. As a result of this certification, the company's effective income tax rate has been reduced to 15% from 25%. The new tax rate will be retroactive to January 1, 2009 and will be effective for three years, through December 31, 2011. The company expects the tax reduction will result in savings of more than $1 million per year, beginning in calendar 2009.

The company also announced that it has been approved for a 6% value added tax (VAT) credit by the State Administration of Taxation, extending its prior credit for an additional two years. Enterprises or individuals who sell commodities, engage in repair and maintenance or import and export goods in the PRC are subject to a value added tax. The standard VAT rate is 6% of gross sales within the concrete industry. Due to the fact that China ACM uses recycled raw materials to manufacture its products, the State Administration of Taxation had previously granted the company a VAT exemption from August 2005 through August 2009. The two year extension provides China ACM an exemption from the VAT through August 2011. The company records the VAT credit as "Other Subsidy Income" on its income statement, which accounted for approximately $1.2 million in fiscal 2008 and $1.3 million through the third quarter of fiscal 2009.

Mr. Xianfu Han, Chairman and Chief Executive Officer, stated, "We are extremely pleased with the tax advantaged status that China ACM has received from the PRC government as a result of developing our environmentally friendly concrete production methods and products. In particular, we have two patents that played an important role in this certification: (1) a high-performance pumping concrete containing mineral admixtures, and (2) C100 high-performance concrete and its formulations. This certification will have a significant and immediate effect on our net income."

"China ACM was awarded the VAT credit based on our effective utilization of natural resources. Specifically, our concrete mixtures utilize high quantities of fly ash and waste rock. As a result, we have transformed common industrial byproduct to useful manufacturing materials. Our usage of recycled materials has improved the technical quality performance of products, decreased the usage of cement and other resources, and, in turn, we achieved the country's highest environmental standards for both economic and social benefit. We currently use at least 30% recycled components in our mixtures and we continue to innovate and find ways to increase this percentage."

Mr. Han concluded, "In addition to our use of recycled waste materials, we are also at the forefront of the industry due to our efficient production of concrete materials with minimal energy usage, our ability to reduce dust and air pollution, as well as our innovative and high quality products. We commend the government's commitment to improving the environment, while increasing and ensuring the highest standards across the industry."

About China ACM

Contact: On-line Investor Contact:
Crescendo Communications, LLC AGORACOM Investor Relations
David Waldman or Klea Theoharis http://www.agoracom.com/IR/chinaacm
Tel: (212) 671-1020
Email: ir@china-acm.com
Web: http://www.china-acm.com

SOURCE China Advanced Construction Materials Group, Inc.

China ACM Awarded $3.3 Million Railway Contract

02 Jun 2009 09:09:00 GMT

New York and Beijing – June 2, 2009 – China Advanced Construction Materials Group, Inc. (“China ACM”) (OTCBB: CADC), a leading provider of ready-mix concrete and related services in China, today announced that it has been awarded a new contract to provide ready-mix concrete for a major railway construction project in China. China ACM will provide the concrete under its new manufacturing services business line, whereby the general contractor supplies the raw materials and China ACM produces the ready-mix concrete. The contract is expected to generate approximately $3.3 million over a two year period.

Mr. Xianfu Han, Chairman and Chief Executive Officer, stated, “We are pleased to have been selected to provide concrete for this major railway project. This single project will require in excess of 400,000 cubic meters of ready-mix concrete, which we will supply through our portable plants. The advantage to these plants is that they can be moved from location to location along the railway line, minimizing the transportation costs. We were selected for this contract based on our competitive pricing, our high quality, and our proven track record. The national railway project represents a major growth opportunity for the company, considering the Chinese government plans to add another 41,000 kilometers of new track over the next 11 years. We are actively bidding on a number of additional railway projects and look forward to announcing similar contract awards in the near future.”

About China ACM

This press release contains "forward-looking statements" within the meaning of the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including changes from anticipated levels of sales, future national or regional economic and competitive and regulatory conditions, changes in relationships with customers, access to capital, difficulties in developing and marketing new products, marketing existing products, customer acceptance of existing and new products, and other factors. Additional Information regarding risks can be found in the Company’s Annual Report on Form 10K and in the Company’s recent report on Form 8K filed with the SEC. Accordingly, although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this press release.

China ACM Reports 116% Increase in Gross Profit For Q3 '09

15 May 2009 09:23:00 GMT

NEW YORK and BEIJING, May 15, 2009 -- China Advanced Construction Materials Group, Inc. ("China ACM") (OTC Bulletin Board: CADC), a leading provider of ready-mix concrete in China, today announced financial results for the three months ended March 31, 2009.

Mr. Xianfu Han, Chairman and Chief Executive Officer, stated, "China ACM has continued to experience year-over-year growth in revenue and net income as well as rapid margin expansion. In our fiscal third quarter, revenue increased to $9.3 million from $6.8 million during the comparable period last year, with higher margin manufacturing services and technical services contributing to our growth. As a result, gross margins for our fiscal third quarter increased to 41.9% from 26.5%, and our operating margin increased to 33.2% from 20.6% for the same period last year. Net income for the fiscal third quarter was $2.3 million versus $1.3 million during the fiscal third quarter of 2008. We remain on track to achieve net income of at least $9 million for fiscal 2009."

Mr. Han continued, "The Chinese government announced its $586 billion stimulus package in November of 2008, with much of the money allocated toward infrastructure projects, a key focus of China ACM. Among the many infrastructure projects on the Chinese government's agenda is the building of high speed railways through the year 2020 intended to better service the large population of Chinese citizens located outside major cities. This initiative is expected to consume 120 million tons of cement, as the network of track is set to increase by 41,000 kilometers over the next 11 years at a cost of approximately $730 billion. The Chinese government and many of the large general contractors are long-standing customers of China ACM. As a result, our company is now involved in over six such railway projects, with associated revenue of $19.7 million, in and around the Beijing area, the most recent additions being the Guizhou-Guangzhou Railway and the Jin-Qin High Speed Railway. Our investment in portable concrete facilities, combined with our solid reputation, quality products and services and competitive pricing, have placed us in a strong position to win railway projects and also fits our strategic plan of expanding outside the Beijing area. We continue to bid on projects of this type and have already begun benefiting from the Chinese government's stimulus package."

Revenue for the three months ended March 31, 2009 was $9.3 million, as compared to $6.8 million for the three months ended March 31, 2008. Gross profit was $3.9 million for the three months ended March 31, 2009, as compared to $1.8 million for the three months ended March 31, 2008, representing gross margin of approximately 41.9% and 26.5%, respectively. Net income for the three months ended March 31, 2009 increased to $2.3 million, or $0.16 per diluted share, compared to net income of $1.3 million, or $0.15 per diluted share, for the same quarter last year.

As of March 31, 2009, the company had cash of $870,140, restricted cash of $666,954, working capital of $8.0 million, and no long-term debt.

Conference Call

China ACM will also host a conference call at 8:00 a.m. Eastern Time on Friday, May 15, 2009. During the call, Mr. Xianfu Han, Chairman and Chief Executive Officer, Mr. Weili He, Vice Chairman and Chief Operating Officer, and Gene Hsiao, Chief Financial Officer, will discuss the Company's quarterly performance and financial results.

The telephone number for the conference call is (201) 689-8035. A live webcast of the call will also be available on the company's website, www.china-acm.com or the new China ACM IR Hub at: http://www.agoracom.com/IR/chinaacm. To listen to the live call online, please visit the site at least 10 minutes early to register, download and install any necessary audio software.

The webcast will be archived on the site as well as the China ACM IR Hub, and investors will be able to access an encore recording of the conference call for seven days by calling (201) 612-7415 and entering account #286, ID #323153. The encore recording will be available two hours after the conference call has concluded.

About China ACM

Contact: Crescendo Communications, LLC David Waldman or Klea Theoharis Tel: (212) 671-1020 Email: ir@china-acm.com Web: http://www.china-acm.com

(tables follow)

CONSOLIDATED BALANCE SHEETS
AS OF MARCH 31, 2009 AND JUNE 30, 2008

ASSETS

March 31, 2009 June 30, 2008
(Unaudited) RESTATED

CURRENT ASSETS:
Cash $870,140 $1,910,495
Restricted cash 666,954 913,092
Marketable securities 58,451 61,767
Accounts receivable, net of
allowance for doubtful accounts
of $357,810
and $224,924 as of March 31,
2009 and June 30, 2008,
respectively 14,856,208 9,365,486
Inventories 777,548 237,836
Short term loan receivable 1,465,000 -
Other receivables 1,008,368 505,968
Prepayment 3,940,771 3,240,394
Total current assets 23,643,440 16,235,038

PLANT AND EQUIPMENT, net 15,237,656 16,730,220

OTHER ASSETS:
Accounts receivable (non-current),
net of allowance for doubtful accounts
of $664,503 and $411,061 as of March 31,
2009 and June 30, 2008,
respectively 7,529,760 4,753,006

Total assets 46,410,856 37,718,264

LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES:
Short term loans $4,723,893 $4,271,222
Accounts payable 5,875,554 6,293,553
Customer deposits 10,751 165,434
Other payables 280,182 254,259
Other payables - shareholder 763,634 880,302
Accrued liabilities 411,168 145,207
Taxes payable 3,468,297 1,073,237
Interest payable 155,200 -
Total current liabilities 15,688,679 13,083,214

COMMITMENTS, CONTINGENCIES, AND SUBSEQUENT EVENT

REDEEMABLE PREFERRED STOCK ($0.001
par value, 873,000 and 875,000 shares
issued and outstanding) net of
discount of $717,822 and $1,168,548
at March 31, 2009 and June 30, 2008,
respectively, liquidation preference
of $8.00 per share and accrued
dividends 6,266,178 5,831,452

SHAREHOLDERS' EQUITY:
Preferred stock $0.001 par value,
1,000,000 shares authorized, 873,000 and
875,000 redeemable preferred shares
issued and outstanding, and classified
above outside shareholders' equity
above, liquidation preference of $8.00
per share and accrued dividends as of
March 31, 2009 and June 30, 2008 - -
Common Stock, $0.001 par value,
74,000,000 shares authorized, 10,508,000
and 10,525,000 shares issued and
outstanding, as of March 31, 2009 and June
30, 2008, respectively 10,508 10,525
Paid-in-capital 12,777,188 12,722,260
Contribution receivable (1,210,000) (1,210,000)
Retained earnings 8,011,906 3,257,276
Statutory reserves 2,172,408 1,452,779
Accumulated other comprehensive
income 2,693,989 2,598,466
Deferred compensation - (27,708)
Total shareholders' equity 24,455,999 18,803,598

Total liabilities, redeemable
preferred stock, and shareholders'
equity $ 46,410,856 $37,718,264

CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME
FOR THE NINE MONTHS AND THREE MONTHS ENDED MARCH 31, 2009 AND 2008
(UNAUDITED)

Nine months ended Three months ended
March 31, March 31,
2009 2008 2009 2008

REVENUE:
Sales of concrete $16,382,049 $19,841,164 $6,544,484 $6,790,646
Manufacturing
services 5,301,154 - 1,304,615 -
Technical services 1,471,583 - 431,456 -
Mixer rental 1,992,520 - 995,939 -
Marketing cooperation 94,167 - 32 -
Total revenue 25,241,473 19,841,164 9,276,526 6,790,646

COST OF REVENUE:
Cost of concrete 12,147,067 15,538,513 4,592,863 4,988,211
Manufacturing
Services 1,803,356 - 510,268 -
Technical services 119,742 - 22,059 -
Mixer rental 602,485 - 265,442 -
Marketing cooperation 38,720 - 13 -
Total cost of
revenue 14,711,370 15,538,513 5,390,645 4,988,211

GROSS PROFIT 10,530,103 4,302,651 3,885,881 1,802,435

SELLING, GENERAL AND
ADMINISTRATIVE EXPENSES 2,079,257 1,033,958 809,777 404,692

INCOME FROM OPERATIONS 8,450,846 3,268,693 3,076,104 1,397,743

OTHER (EXPENSE) INCOME, NET
Other subsidy income 1,300,992 1,190,159 470,971 407,434
Non-operating expense,
net (201,531) (36,655) (118,343) (9,264)
Interest income 4,777 - 937 -
Interest expense (640,544) (215,532) (194,200) (67,963)
Total other income,
net 463,694 937,972 159,365 330,207

INCOME BEFORE PROVISION FOR
INCOME TAXES 8,914,540 4,206,665 3,235,469 1,727,950

PROVISION FOR INCOME TAXES 2,516,707 422,521 941,477 422,521

NET INCOME 6,397,833 3,784,144 2,293,992 1,305,429

Dividends and accretion on
redeemable preferred stock 923,575 - 305,443 -

Net income available to common
shareholders 5,474,258 3,784,144 1,988,549 1,305,429

RECONCILIATION OF
COMPREHENSIVE INCOME:
Net income 6,397,833 3,784,144 2,293,992 1,305,429
Unrealized (loss) gain
from marketable
securities (3,316) 5,223 15,901 (18,220)
Foreign currency
translation
adjustment 98,839 1,539,290 (39,340) 644,374

COMPREHENSIVE INCOME $6,493,356 $5,328,657 $2,270,553 $1,931,583

EARNING PER SHARE:
Basic $0.52 $0.43 $0.19 $0.15
Diluted $0.46 $0.43 $0.16 $0.15

WEIGHTED AVERAGE NUMBER OF
SHARES:
Basic 10,525,066 8,809,583 10,525,200 8,809,583
Diluted 14,024,081 8,809,583 14,021,832 8,809,583

CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS ENDED MARCH 31, 2009 AND 2008
(UNAUDITED)

2009 2008
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $6,397,833 $3,784,144
Adjustments to reconcile net income to
net cash (used in) provided by operating
activities:
Depreciation 1,611,255 815,689
Stock-based compensation expense 66,619 -
Bad debt expense 383,581 3,136
Changes in operating assets and liabilities
Accounts receivable (14,505,340) 7,298,441
Inventories (538,551) 32,838
Other receivables (998,078) 703,888
Other receivables - related parties - (218)
Prepayment (83,374) (328,836)
Accounts payable 5,365,721 (9,139,259)
Other payables 25,142 363,910
Accrued liabilities 265,272 (94,066)
Customer deposits (155,310) -
Taxes payable 2,389,830 385,422
Net cash provided by operating
activities 224,600 3,825,089

CASH FLOWS FROM INVESTING ACTIVITIES:
Disbursement on short term loan (1,464,500)
Purchase of equipment (50,423) (15,665)
Net cash used in investing
activities (1,514,923) (15,665)

CASH FLOWS FINANCING ACTIVITIES:
Principal payments of short term loan (6,961,984) (5,679,400)
Proceeds from short term loan 7,398,231 3,404,168
Other payables - shareholders (117,160) -
Preferred dividends paid (317,649) -
Restricted cash 246,138 751,000
Net cash provided by (used in) financing
activities 247,576 (1,524,232)

EFFECTS OF EXCHANGE RATE CHANGE
IN CASH 2,392 125,468

DECREASE (INCREASE) IN CASH (1,040,355) 2,410,660

CASH, beginning of period 1,910,495 1,424,883

CASH, end of period $870,140 $3,835,543

SOURCE China Advanced Construction Materials Group, Inc.

http://www.china-acm.com

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China ACM to Host Third Quarter Fiscal 2009 Conference Call on May 15, 2009

14 May 2009 11:52:00 GMT

NEW YORK and BEIJING, May 14 -- China Advanced Construction Materials Group, Inc. ('China ACM') (OTCBB: CADC) a leading provider of ready-mix concrete in China, today announced that it will release financial results for the fiscal third quarter ended March 31, 2008 on May 15, 2009.

About China ACM

SOURCE China Advanced Construction Materials Group, Inc.

China ACM Awarded $2 Million Contract for Guizhou-Guangzhou Railway

12 Mar 2009 09:29:00 GMT

China Advanced Construction Materials Group Awarded $2 Million Contract for Guizhou-Guangzhou Railway

NEW YORK and BEIJING, March 12 -- China Advanced Construction Materials Group, Inc. ("China ACM") (OTC Bulletin Board: CADC), a leading provider of ready-mix concrete and related services in China, today announced that it was awarded a $2 million contract to provide concrete manufacturing services for a major section of the Guizhou-Guangzhou railway construction project. China ACM's concrete manufacturing services are a growing and high margin segment of the business, whereby the general contractors supply the raw materials and China ACM produces the ready-mix concrete.

The railway will run from Guiyang to Guangzhou and will cover approximately 857 kilometers. China ACM's portion of the project is scheduled to be completed in late-2010. The new line is designed to be a double-track electrified railway and will allow trains to travel at 200 kilometers per hour. The line is expected to have a daily capacity of 100 passenger trains and an annual capacity for goods transportation of 35 million tons.

Mr. Xianfu Han, Chairman and Chief Executive Officer, stated, "China ACM is establishing a niche in supplying concrete services for the expansion of China's railway system. In addition to our traditional concrete services in and around Beijing, we have now been involved in numerous high speed railway projects all over the country and continue to bid for others. We believe that our environmentally-friendly methodology for producing ready-mix concrete, our portable concrete manufacturing plants that can be moved from location to location along the railway line and our reputation for quality are all factors in our success for winning this business. We look to further extend our geographic footprint within China as we bid for projects encompassing a wider radius outside Beijing in the months and years ahead. China's stimulus package that was implemented in November of 2008 is concentrated on the build out of China's infrastructure and we have already begun to benefit from this initiative."

About China ACM

Contact: On-line Investor Contact:
Crescendo Communications, LLC
David Waldman or Klea Theoharis
Tel: (212) 671-1020
Email: ir@china-acm.com
Web:http://www.china-acm.com

AGORACOM Investor Relations
http://www.agoracom.com/IR/chinaacm

SOURCE China Advanced Construction Materials Group, Inc

China Construction Equipment Demand May Surge 20%

10 Mar 2009 10:06:00 GMT

AGORACOM Investor Relations is pleased to bring you this following Industry Report pertaining to China ACM (CADC: OTCBB) and the construction industry in China. According to an article in Bloomberg this morning, demand for Chinese construction equipment is expected to surge as high as 20%. This is a result of the Chinese government stimulus package.

The article stated, "China is boosting spending on infrastructure by building railways, airports and housing as exports collapse, threatening its plan to grow the economy by 8 percent. As much as 1.5 trillion yuan of the 4 trillion yuan ($585 billion) stimulus is marked for building projects, and local governments will also spend according to a local official."

Recently China ACM announced winning a local contract valued at $2.2 Million for constructing part of a high speed railway system.

Other types of construction equipment suppliers are also expected to be winners thanks to the stimulus package. The article goes on to state, "One company aims to more than triple sales of excavators to more than 2,600 units this year from last year’s 813. Output of forklifts will also almost triple this year to 8,000 from 2,800 in 2008."

To see the Bloomberg article in its entirety, simply click on the following link:

http://www.bloomberg.com/apps/news?p...

AGORACOM hopes this Industry Report can help you with your due diligence regarding China ACM. We encourage constructive dialogue regarding the company on this discussion forum and we encourage you to monitor this site regularly for future news and updates.

AGORACOM Investor Relations

China ACM Awarded $2.2 Million Contract for Jin-Qin High Speed Railway

04 Mar 2009 09:18:00 GMT

NEW YORK and BEIJING, March 4 -- China Advanced Construction Materials Group, Inc. ("China ACM") (OTC Bulletin Board: CADC), a leading provider of ready-mix concrete and related services in China, today announced that it was awarded a $2.2 million contract to provide concrete manufacturing services for a major section of the Jin-Qin High Speed Railway construction project. The railway will run from Tianjin to Qinhuangdao and will cover approximately 164 miles. China ACM's component of the project is scheduled for completion in mid-2010.

China ACM's concrete manufacturing services are a growing and high margin segment of the business, whereby the general contractors supply the raw materials and China ACM produces the ready-mix concrete. The company plans to use one of its newly built portable plants to produce the concrete for this contract. These portable plants are advantageous for use in railway projects, since they can be dismantled and moved to sites along the railway route.

Mr. Xianfu Han, Chairman and Chief Executive Officer, stated, "Since investing in our portable concrete manufacturing plants in mid-2008, we have had great success in winning contracts to provide concrete and related services for the construction of major railways in and around Beijing. Other railway projects we have bee involved in include the high speed railway from Beijing to Shijianzhuang and the Harbin-Dalian railway. Our ability to meet project specific engineering and environmental specifications at an attractive price point gives us a strong competitive edge in the marketplace. We have built a reputation for quality and a high level of expertise over the years and we are pleased to play such an important role in the modernization and expansion of China's infrastructure."

About China ACM

China ACM to Present at the Roth Capital Partners 21st Annual Stock Conference

17 Feb 2009 14:27:00 GMT

China Advanced Construction Materials to Present at the Roth Capital Partners 21st Annual Orange County Growth Stock Conference

NEW YORK and BEIJING, Feb. 17 /-- China Advanced Construction Materials Group, Inc. ("China ACM") (OTC Bulletin Board: CADC), a leading provider of ready-mix concrete in China, today announced that Mr. Gene Hsiao, Chief Financial Officer of the company, will present at the Roth Capital Partners 21st Annual Orange County Growth Stock Conference to be held February 16 - 18, 2009 at The Ritz Carlton Hotel in Dana Point, California. The company is scheduled to present at 2:00 p.m. Pacific Time on February 18, 2009.

The presentation will be broadcast live via the internet. The broadcast will include slides and an audio webcast, which can be accessed from the investor relations section of the company's website: www.china-acm.com or the new China ACM IR HUB at: http://www.agoracom.com/IR/chinaacm. The replay will be available within one hour of the live presentation and will remain available for 90 days following the conference.

About Roth Capital Partners, LLC

With corporate headquarters in Newport Beach, California and offices in strategic locations in the Western United States and Shanghai, China, Roth Capital Partners, LLC, offers a wide array of investment banking services including: initial public offerings, follow-ons, PIPEs, private placements, mergers and acquisitions, investment research, and institutional sales and trading. The firm is perhaps best known for finding, funding and fostering the growth of emerging companies. It is a member of the Financial Industry Regulatory Authority ("FINRA"), and the Securities Investor Protection Corporation (SIPC). Visit the Roth Capital Partners website at www.roth.com.

About China ACM

    Contact:
    Crescendo Communications, LLC         On-line Investor Contact:
    David Waldman or Klea Theoharis       AGORACOM Investor Relations
    Tel: (212) 671-1020                  http://www.agoracom.com/IR/chinaacm
    Email: ir@china-acm.com               Email: cadc@agoracom.com
    Web:http://www.china-acm.com

China ACM Reports Net Income Up 73% to $2.6 Million for Q2 2009

13 Feb 2009 07:00:00 GMT

Generates Net Income of $2.6 Million or $0.19 per Diluted Share for the Fiscal Second Quarter of 2009

NEW YORK AND BEIJING, Feb. 13 -- China Advanced Construction Materials Group, Inc. ("China ACM") (OTCBB: CADC), a leading provider of ready-mix concrete in China, today announced financial results for the three months ended December 31, 2008.

Mr. Xianfu Han, Chairman and Chief Executive Officer, stated, "We are pleased to report that China ACM continues to thrive despite a challenging global economic environment, as evidenced by the 169% increase in gross profit and 194% increase in operating income for the second quarter of fiscal 2009. We attribute these strong results to a combination of favorable macro infrastructure trends withinChina , company-specific initiatives and a high standard of excellence in our ready-mix concrete and related services. As expected, our revenue rebounded, increasing 53% over the same period last year, as the government lifted its construction bans related to the Olympics in and aroundBeijing. Additionally, we signed a number of new contracts during the second quarter and our sales pipeline is extremely robust."

"China ACM is one of only a few concrete companies in China with the necessary permits and experience to produce ready-mix concrete according to the new government standards for major infrastructure projects. With China's recently announced$586 billion stimulus package primarily designated for infrastructure development, we believe that China ACM will be a major beneficiary of the government's initiatives as the country enhances its roads, railways, airports and other infrastructure. Approximately 75% of China ACM's revenue is derived from government infrastructure projects and we have recently begun expanding our operations outside of theBeijing area to better capitalize on our relationships with general contractors active in other provinces and inter-provincial infrastructure projects such as theBeijing to Shijiazhuang railway."

Mr. Han continued, "During the fiscal second quarter, our gross margin increased to 36.5% from 20.8%, and our operating margin increased to 30.9% from 16.1% for the same period last year. Our improved margins were a direct result of the deliberate increase in manufacturing services agreements, technical services agreements, and marketing cooperation agreements, which now comprise 38% of our revenue. Through these agreements, we provide mixed of equipments, oversight, transportation, and consulting services to third-party concrete manufacturers, who in turn supply our proprietary concrete to China ACM customers. This strategy allows us to cost effectively expand our geographic presence without the upfront capital expenditures. These services produce higher margins than our traditional ready-mix concrete business and our strategy is to have these services comprise a larger portion of our overall revenue, going forward."

Mr. Han continued, "We continued work on the East Datong to Gudian railway and the Beijing to Shanghai high-speed railroad, providing substantial quantities of ready-mix concrete this quarter for our manufacturing services. Based on our current financial results and expected future contract revenues, we are confident that we will achieve a net income of at least$9 million for fiscal 2009, after adjusting for certain transaction-related charges and expenses."

Mr. Han concluded, "We are proud of the reputation China ACM has built over the past six years among our customers, construction companies, general contractors, engineers and the Chinese government. We look forward to our continued participation in China's most important and prestigious infrastructure projects and providing ever-increasing value to our shareholders."

Revenue for the three months ended December 31, 2008 was $10.8 million, as compared to $7.1 million for the three months ended December 31, 2007. Gross profit was $4.0 million for the three months ended December 31, 2008, as compared to $1.5 million for the three months ended December 31, 2007, representing gross margin of approximately 36.5% and 20.8%, respectively. Net income for the three months ended December 31, 2008 increased to $2.6 million, or $0.19 per diluted share, compared to net income of $1.5 million, or $0.17 per diluted share, for the same quarter last year. Net income for the three months ended December 31, 2008 included a 25% income tax that the company became subject to starting January 1, 2008 and did not incur in 2007.

As of December 31, 2008, the company had cash and cash equivalents of $3.2 million, restricted cash of $881,484 and working capital of $6.7 million.

Conference Call

China ACM will also host a conference call at 8:00 a.m. Eastern Time on Friday, February 13, 2009. During the call, Mr. Xianfu Han, Chairman and Chief Executive Officer, Mr. Weili He, Vice Chairman and Chief Operating Officer, and Gene Hsiao, Chief Financial Officer, will discuss the Company's quarterly performance and financial results.

The telephone number for the conference call is (201) 689-8035. A live webcast of the call will also be available on the company's website,www.china-acm.com or the new China ACM IR HUB at: http://www.agoracom.com/IR/chinaacm . To listen to the live call online, please visit the site at least 10 minutes early to register, download and install any necessary audio software.

The webcast will be archived on the site as well as the China ACM IR Hub, and investors will be able to access an encore recording of the conference call for one month by calling (201) 612-7415 and entering account #286, ID #312978. The encore recording will be available two hours after the conference call has concluded.

About China ACM

    Contact:
    Crescendo Communications, LLC
    David Waldman or Klea Theoharis
    Tel: (212) 671-1020
    Email: ir@china-acm.com

Click here to view financial statements

China ACM to Host Fiscal Q2 2009 Conference Call on February 13, 2009

12 Feb 2009 11:02:00 GMT

NEW YORK and BEIJING, Feb. 12 -- China Advanced Construction Materials Group, Inc. ("China ACM") (OTC Bulletin Board: CADC) a leading provider of ready-mix concrete in China, today announced that it will release financial results for the fiscal second quarter ended December 31, 2008 on February 13, 2009.

About China ACM

Contact:

Crescendo Communications, LLC
David Waldman or Klea Theoharis
Tel: (212) 671-1020
Email: ir@china-acm.com
Web:http://www.china-acm.com

On-line Investor Contact:
AGORACOM Investor Relations
http://www.agoracom.com/IR/chinaacm

AGORACOM 100 Welcomes China ACM With $4.9 Million In Net Income

03 Feb 2009 18:15:00 GMT

I am very pleased to welcome China Advanced Construction Materials to The AGORACOM 100. As all of you know, I'm a big believer that results speak louder than "corporate speak", so please have a look at the following:

Financial Highlights (Fiscal Year Ended June 30, 2008 - Figures Rounded)

Revenues $US 27,600,000 (Up 30.7%)
Gross Profit $US 6,750,000 (Up 44%)
Net Income $US 4,900,000 (Up 49.3%)

China ACM (CADC: OTCBB), based in Beijing, China, is a leading producer of advanced construction materials for large scale commercial, residential, and infrastructure developments. More than just lipservice, 80% of China ACM revenues are directly derived from major state-owned construction companies.

I also like the fact that China ACM only has about 10.5 million shares outstanding and insiders hold more than 83% of it.

Financial Highlights for Q1 Ended September 30, 2008

Revenue decreased to $5.0 million, down from $6.0 million in the corresponding period in 2007. However, the decrease in revenue is due to a switch to higher margin products, as reflected in gross margin increases below.

Gross profit increased by 170% to $2.7 million, representing a 52.3% gross margin, compared with gross profit of $1.0 million, or a 17.2% gross margin, for the same period in 2007. The increase in gross profit is mainly attributable to a deliberate shift in the Company's product and services mix.

Net income increased to $1.1 million, as compared to a $1.0 million for the same period in 2007. However, this quarter also included one-time expenses related to completion of a reverse merger transaction.

CHINA ACM ANTICIPATES $9 MILLION IN NET INCOME FOR 2009

""We look forward to beginning the projects recently awarded to us such as the East Datong to Gudian railway and the Beijing to Shi Jiazhuang high-speed railroad. As a result of these and other projects underway, our current backlog stands at over 1.5 million cubic meters of ready-mix concrete through June 30, 2009, securing our ability to achieve a net income of at least $9 million for fiscal 2009, after adjusting for certain transaction-related charges and expenses."

Xianfu Han, Chairman and Chief Executive Officer

CONCLUSION

China ACM is dialed into China's infrastructure development and I can't think of a better space on the planet to be involved in over the next 50 years. This is especially true given the fact China recently announced it would spend an estimated $586 billion over the next two years to construct new railways, subways and airports and to rebuild communities devastated by an earthquake in 2008.

Make sure to keep up to date with China ACM developments right here on the Company's IR HUB.

Regards,
George

China ACM Launches New Investor Relations Networking Hub Powered by AGORACOM

02 Feb 2009 09:26:00 GMT

NEW YORK and BEIJING, Feb. 2 -- China Advanced Construction Materials Group, Inc. ("China ACM") (OTC Bulletin Board: CADC), a leading provider of ready-mix concrete in China, today announced the launch of its new investor relations networking hub powered by AGORACOM Investor Relations ("AGORACOM") (http://www.agoracom.com) for the purpose of facilitating the company's visibility and communications among the online community of small-cap investors. Services will be delivered via a Web 2.0 social network for current shareholders and will provide expanded awareness through some of the leading financial websites with the goal of attracting and educating prospective shareholders.

In response to online research and a review of communication habits of small-cap investors, China ACM has turned to the web via the AGORACOM system to facilitate faster, better and more accessible communications with both current and prospective shareholders around the world.

The customized and monitored China ACM IR HUB is now available at: http://www.agoracom.com/IR/chinaacm. This new site is designed to allow both the Company and AGORACOM to communicate with investors simultaneously, at anytime, and in near real-time. The new IR HUB will also provide management with an ability to extend communications beyond text via audio messages, video presentations, webcasts and podcasts. In addition to traditional e-mail, investors will also have the ability to receive all communications via RSS feed.

The China ACM IR HUB propels the Company to the forefront of Web 2.0 community building by providing investors with two very important functions. First, a monitored discussion forum for the purposes of constructive and high-quality discussion amongst investors that is free of spam, profanity and misinformation. Second, a social network that provides investors with the ability to create extensive profiles that include photos, bios, video messages to fellow investors, a rating system and other important items to create a closer bond between shareholders.

As an exclusive provider of "Small-Cap Centres - Powered by AGORACOM," available to every Blackberry device, Yahoo Finance Canada and AOL Finance Canada, reaching a total audience of 1.4 million small-cap investors, AGORACOM will provide Tier-1 financial coverage of all newsworthy China ACM press releases for the purposes of attracting new and prospective shareholders.

China ACM CFO Gene Hsiao stated, "As developments continue to unfold at China ACM, I believe it is important for us to increase our communications with both existing shareholders and the sizable online community of small-cap investors that are searching for new investment opportunities. I strongly encourage our shareholders to begin taking advantage of our new online IR system and look forward to your questions and comments. We invite shareholders to visit our IR Hub at http://www.agoracom.com/IR/chinaacm where they can post questions and receive answers, or simply review questions and answers posted by other investors."

About AGORACOM

AGORACOM Investor Relations (http://www.AgoracomIR.com) is North America's largest online investor relations firm for small-cap companies. We have partnered with the world's biggest internet companies, including Yahoo, AOL, Google and Blackberry to market our clients to a massive audience of new small-cap investors. We have served over 200 companies since 1997.

AGORACOM Investor Relations has displaced the telephone and e-mail as primary IR communications devices. Our IR HUB delivers two-way investor relations in near real-time that is 24/7/365 accessible to shareholders around the world and goes far beyond text by offering both audio and video communications.

AGORACOM (http://www.Agoracom.com) is North America's only small-cap community built to serve the needs of serious small-cap and micro-cap investors. No rumors, profanity, stock bashing or hyping. Our traffic ranking is above the top 1% of all websites around the world.

About China ACM

China ACM provides materials and services through its seven ready-mix concrete plant network covering the Beijing metropolitan area. China ACM owns one plant, leases two plants and has technical services and preferred procurement agreements with four other independently-owned plants. China ACM is ISO 9001 (product quality), ISO 14001 (environmental safety), and ISO 18001 (employment environment safety) certified. Additional information about the company is available at www.china-acm.com.

Contact:
Crescendo Communications, LLC
David Waldman or Klea Theoharis
Tel: (212) 671-1020
Email: ir@china-acm.com
Web:http://www.china-acm.com

On-line Investor Contact:
AGORACOM Investor Relations
http://www.agoracom.com/ir/chinaacm

Papa Bello Enterprises Enters International Agreement

17 Dec 2008 08:57:00 GMT

Papa Bello Enterprises Enters International Agreement for Development in South East Asia and the Middle East

Las Vegas, NV—December 17, 2008—Papa Bello Enterprises, Inc. is pleased to announce plans for continued overseas expansion by entering a partnership with master franchise development company, Fusion Global Partners, LLC. Under Managing Director, Mr. Douglas Cisneros, the company will help establish and grow Papa Bello Pizza franchises in SE Asia and throughout the Middle East. Both companies expect the first location under this agreement to open in 2009.

Combining SE Asia and the Middle East, the territory defined in the agreement encompasses the following 28 countries: Algeria, Australia, Bahrain, Egypt, Indonesia, Iran, Iraq, Japan, Jordon, Kingdom of Saudi Arabia, Kuwait, Lebanon, Libya, Malaysia, Malta, Morocco, New Zealand, Oman, Philippines, Qatar, Singapore, South Korea, Syria, Thailand, Tunisia, Turkey, United Arab Emirates, and Yemen.

Fusion Global Partners is a cross-border, transaction driven firm specializing in facilitating and supporting international development for their clients. With business experience in 34 countries, FGP’s primary markets are focused in the Middle East, GCC-MENA regions and South East Asia.

In conjunction with Global Franchise Architects, Global Fusion Partners has over 300 units under contract, with over 200 units already open and operating. FGP has central offices located in the United States (Denver, CO), Bahrain (Manama), South Korea (Seoul), and Thailand (Bangkok). Some of the brands they represent include Steak Escape, Gloria Jean’s Gourmet Coffee, New York Deli, The Cream & Fudge Factory, Wetzel’s Pretzels, and The Donut Baker.

Doug Cisneros, of Fusion Global Partners states, “The Papa Bello franchise model has quickly gained tremendous recognition as an up-and-coming brand set up for rapid expansion and acceptance throughout the countries within our agreement. With our infrastructure and support added to the Papa Bello product and brand image, we have all the necessary components to make a significant impact on the markets abroad.”

Chase Canfield, CEO of Papa Bello Enterprises states, “This agreement represents our continued efforts to accomplish the company’s objectives to grow in size, gain more exposure, and increase revenue and value both here and abroad. We’re confident that by combining our concept with the international franchise experience of Fusion Global Partners, our brand will be well received in these regions of the world.”

About Papa Bello Enterprises

Founded in 2005, Papa Bello Enterprises is a Las Vegas, NV based corporation that owns, operates, and franchises Italian style eateries in the United States. The company currently has 21 stores in operation and has a master lease agreement with Wal-Mart. The company was founded on the principles of providing the consumer with the highest standards of quality, value, and service. For more information on Papa Bello Enterprises or franchise information, please visit www.papabellopizza.com.

About Fusion Global Partners

Fusion Global Partners, LLC, (FGP) http://www.fusionglobalpartners.com develops, manages and supports franchises, joint ventures, partnership, and acquisitions. Their client base is separated into two categories of Food / clothing concepts and Service concepts. FGP provides a full menu of services from the Concept Development in a target country, Operational Support and Development Management for clients who are looking for specific concepts for their respective areas. FGP has worked in 34 countries and has specifically developed negotiated Master / Area / Regional Franchise Agreements and provided ongoing support to clients in 19 countries.

Forward-Looking Statements Disclosure

This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.

Contact:

Noelle Rodriguez
Email: info@papabellopizza.com
Phone: (702) 948-6888

Brokers and Analysts call
Aero Financial, Inc
972-265-7590

AGORACOM Investor Relations
http://www.agoracom.com/ir/papa
PAPA@agoracom.com

Source: Papa Bello Enterprises

NEWS - Papa Bello Announces Further Expansion into Strip Mall Venues

04 Dec 2008 09:32:00 GMT

Las Vegas, NV—December 4, 2008—Papa Bello Enterprises (Pink Sheets: PAPA) is pleased to announce continued company growth of inline franchise units with the opening of a second Alabama store. The new restaurant, located in an Auburn city strip mall, is owned and operated by the state’s Area Developer, Mr. Terry Parmer. The first location in Alabama was opened earlier this year in a Wal-Mart Supercenter. Under the development agreement, a minimum of 40 units is contracted for the territory.

The new location outside of Wal-Mart is part of the company’s ongoing plan to diversify its growth strategy by building locations not only in Wal-Mart Supercenters, but also in convenience stores, strip malls and other non-traditional sites. By combining the existing and future Wal-Mart availabilities with the flexibility to open stores in a variety of other venues, the company is able to meet the demands of different regions, economic environments, and reach an even broader customer base.

Chase Canfield, CEO of Papa Bello Enterprises, states, “Securing a company presence in a variety of different venues is not only a great opportunity, but a necessary component for growth in today’s economic environment. From our express concept for convenience stores and airports, to our fast-casual design found in Wal-Marts and strip malls, the potential for growth is endless. The Papa Bello brand has been carefully crafted for versatility, enabling us to expand in all directions.”

About Papa Bello Enterprises

Forward-Looking Statements Disclosure

Contact:

Noelle Rodriguez
Email: info@papabellopizza.com
Phone: (702) 948-6888

Brokers and Analysts call
Aero Financial, Inc
972-265-7590

Source: Papa Bello Enterprises

NEWS - Papa Bello Sells Area Development Rights for Shanghai, China

20 Nov 2008 13:28:00 GMT

LAS VEGAS, Nov. 20 -- Papa Bello Enterprises (Pink Sheets: PAPA) is pleased to announce the sale of area development rights for the city of Shanghai in the Peoples Republic of China to partners Mr. Zhiqing Ma and Mrs. Hsiao (Cathy) Endy. Under the terms of the agreement, a minimum growth of 60 units is contracted for the region.

Construction on the first restaurant is underway, with an opening date scheduled before the end of 2008. The upscale, 8,000 square foot store will be located on one of the area's busiest intersections, along Tianyaoqiao Road, in the Xuhuiqu district. In addition to the Shanghai region, the agreement also includes development rights to the Jiangsu and Zhejiang Provinces.

Mr. Ma, of Shanghai, has an extensive background in real estate development and franchising. He acted as the general operations manager for the US based bakery franchise Shanghai Metro Delicate Confectionary partnered with the Shanghai Subway Train Station. From 1999 to 2002, he facilitated store growth from 30 to 107 units. Recently, Mr. Ma is involved in a joint venture between his Chengdu Jingyi Real Estate Development Co. and Beijing Zhongxin Real Estate Development Co. in a project of building 40-story commercial and residential units on 13 acres in Chengdu, Sichuan.

Mr. Ma states, "After opening 77 stores in less than four years, we saw an equivalent opportunity for growth with Papa Bello in China."

Mrs. Endy, resident of Las Vegas, Nevada, acted along with Mr. Ma as part-owner of Shanghai Metro Delicate Confectionary Company. Her experience in owning convenience stores and restaurants began over 15 years ago. Recently, she served a six-year tenure as the President of the Chinese American Association of Las Vegas, and is currently the Principal of the Las Vegas Chinese School.

Mrs. Endy states, "I have full confidence in my partner's capability, experience, and wealth of knowledge. Combining these strengths with the energy and vision of Papa Bello's CEO Chase Canfield, I am certain this is the most promising publicly traded pizza company of its time, which will continue its steady march towards success."

About Papa Bello Enterprises

Founded in 2005, Papa Bello Enterprises is a Las Vegas, NV based corporation that owns, operates, and franchises Italian style eateries in the United States. The company currently has 20 stores in operation and has a master lease agreement with Wal-Mart. The company was founded on the principles of providing the consumer with the highest standards of quality, value, and service. For more information on Papa Bello Enterprises or franchise information, please visit http://www.papabellopizza.com.

Forward-Looking Statements Disclosure This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.

Contact:
Noelle Rodriguez Email: info@papabellopizza.com Phone: (702) 948-6888

Brokers and Analysts call
Aero Financial, Inc 972-265-7590

AGORACOM Investor Relations
http://www.agoracom.com/ir/papa
PAPA@agoracom.com

NEWS - Papa Bello Reaches Milestone with opening of 20th Franchise

12 Nov 2008 12:09:00 GMT

Las Vegas, NV—November 10, 2008—Papa Bello Enterprises is pleased to announce that the company has reached a significant milestone this week with the opening of its 20th franchise restaurant, located in Boiling Springs, SC. To date, the majority of the stores are located in the front entrances of Supercenter Wal-Marts. Continued growth is expected through the opening of additional Wal-Mart locations, in-line shopping centers, convenience stores, and other non-traditional venues.

Papa Bello Pizza restaurants are located in the following states: Alabama, Colorado, Iowa, Indiana, Michigan, Minnesota, Missouri, Nebraska, Ohio, Oklahoma, South Carolina, Tennessee, and Wisconsin. In addition, plans for development are underway in Washington D.C, Pennsylvania, Delaware, Georgia and even China. The company also plans to have three locations outside of Wal-Mart in operation by the end of 2008.

Chase Canfield, 31, CEO of Papa Bello Enterprises states, “This has been a very exciting year for Papa Bello. Over the past 12 months, we have bolstered our executive team, gone public,
expanded into a new country, and built out numerous franchises. We’re laying the foundation for decades of expansion ahead, both on a national and worldwide platform.”

About Papa Bello Enterprises

Founded in 2005, Papa Bello Enterprises is a Las Vegas, NV based corporation that owns, operates, and franchises Italian style eateries in the United States. The company currently has 20 stores in operation and has a master lease agreement with Wal-Mart. The company was founded on the principles of providing the consumer with the highest standards of quality, value, and service. For more information on Papa Bello Enterprises or franchise information, please visit www.papabellopizza.com .

Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.

Contact:
Noelle Rodriguez
Email: info@papabellopizza.com
Phone: (702) 948-6888

Brokers and Analysts call
Aero Financial, Inc
972-265-7590

AGORACOM Investor Relations
http://www.agoracom.com/ir/papa
PAPA@agoracom.com

CarBiz Announces Q2 Results

16 Sep 2008 08:51:09 GMT

Sarasota, Florida, September 16, 2008 - CarBiz Inc. (CBZFF: OTCBB), Carl Ritter, Chairman and CEO of CarBiz, Inc. ("CarBiz") announced the company’s second-quarter results. In the three months ended July 31, 2008, revenues increased by $7,840,557 compared to the same period ended July 31, 2007. This was primarily due to the acquisition of a number of buy here-pay here credit centers. Net profit for the period was $1,530,838; an increase by $4,242,936 compared to the same period ended July 31, 2007.

The software operation was sold on July 2, 2008. As of July 1, 2008, ongoing revenue stream from consulting will consist of new sales and monthly revenue from consulting products, training products, buy here - pay here performance groups, seminars, other one time dealer assistance, and supply sales.

According to Mr. Ritter, “Business was comparable with the first quarter. The adoption of our tier two loans across our car lots, which are loans at the $10,000 range, is going very well. We can expect to see the results of the tier two adoption in the third quarter impact our top line revenue in a positive way.”

	Three months ended	Three months ended	Six months ended	Six months ended
	July 31, 2008	July 31, 2007	July 31, 2008	July 31, 2007

TOTAL SALES	$8,783,948	$943,391	$17,707,220	$1,823,976
TOTAL COST OF SALES	$5,375,682	$518,841	$10,175,375	$934,794
GROSS PROFIT	$3,408,266	$424,550	$7,531,845	$889,182
TOTAL OPERATING EXPENSE	$4,525,019	$1,563,983	$8,751,225	$1,851,461
OPERATING INCOME (LOSS)	($1,116,753)	($1,139,433)	($1,219,380)	($962,279)

INTEREST AND OTHER EXPENSES	($1,877,114)	($149,430)	($3,783,535)	($238,937)
GAIN (LOSS) ON DERIVATIVE INSTRUMENTS	$2,010,476	($1,430,363)	$4,044,834	($751,742)
GAIN (LOSS) ON SALE OF SOFTWARE DIVISION	$2,514,229	$0	$2,514,229
MINORITY INTEREST IN LOSSES	$0	$7,128		$1,034

NET PROFIT(LOSS) FOR THE PERIOD	$1,530,838	($2,712,098)	$1,556,148	($1,951,924)

	As at July 31, 2008	As at January 31, 2008
ASSETS
Cash and cash equivalents	$374,894	$1,141,271
Notes Receivable, Net	$23,923,068	$25,123,459
Inventory	$4,546,924	$2,554,836
Fixed Assets	$823,787	$767,995
Other Assets	$1,662,307	$2,270,083
TOTAL ASSETS	$31,330,980	$31,857,644

LIABILITIES
Accounts Payable	$3,343,022	$3,078,560
Notes Payable	$37,267,338	$36,624,618
Capital Leases	$6,617	$10,725
Convertible debenture derivative liability	$1,732,687	$748,002
Warrant Liability	$4,628,207	$8,844,036
Other Liabilities	$150	$59,753
TOTAL LIABILITIES	$46,978,021	$49,365,694

CAPITAL DEFICIENCY
COMMON SHARES	$16,274,119	$16,274,119
ADDITIONAL PAID-IN CAPITAL	$7,984,066	$7,679,205
OTHER COMPREHENSIVE LOSS	($385,197)	($385,197)
ACCUMULATED DEFICIT	($39,520,029)	($41,076,177)
TOTAL EQUITY	($15,647,041)	($17,508,050)

TOTAL LIABILITES AND EQUITY	$31,330,980	$31,857,644

About CarBiz Inc.

Based in Sarasota, Florida, CarBiz owns and operates the nation’s fourth-largest chain of buy-here pay-here dealerships through its CarBiz Auto Credit division. Capitalizing on expertise developed over 10 years of providing software and consulting services to buy-here pay-here businesses across the United States, CarBiz entered the buy-here pay-here business in 2004. CarBiz recently acquired a large regional chain in the Midwest, bringing the total number of dealerships to 26 in nine states. For more information about CarBiz and its services, visit CarBiz’s web site: www.CarBiz.com.

Forward-Looking Statements

All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future growth plans and objectives of CarBiz. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results or achievements to be materially different from any of our future results or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to the following: (i) whether we are successful in implementing our business strategy; (ii) our ability to increase revenues in the future and to continue as a going concern; (iii) our ability to obtain additional financing on terms favorable to us, if at all, if our operating revenues fail to increase; (iv) our ability to attract and retain key personnel; (v) the impact on the market price of our common shares of the concentration of common share ownership by our directors, officers and greater than 5% shareholders, which may delay, deter or prevent actions that would result in a change of control; (vi) the significant fluctuation of the market price of our common shares; (vii) costly difficulties we may face in the assimilation of the operations, technologies and products of companies that we may acquire in the future; (viii) the adequacy of our insurance coverage to cover all losses or liabilities that may be incurred in our operations; (ix) our dividend policy; (x) the impact on our financial position, liquidity and results of operations if we underestimate the default risk of sub-prime borrowers; (xi) general economic conditions; (xii) general competition; (xiii) our ability to comply with federal and state government regulations; (xiv) potential infringement by us of third parties’ proprietary rights; (xv) defects in our products; (xvi) our compliance with privacy laws; (xvii) our ability to obtain adequate remedies in the event that our intellectual property rights are violated; (xviii) our ability to develop and market on a timely and cost-effective basis new products that meet changing market conditions, and (xix) the risk factors identified in our most recent Annual Report on Form 10-KSB, including factors identified under the headings “Description of Business,” “Risk Factors” and “Management’s Discussion and Analysis or Plan of Operation.”

Although we believe that expectations reflected in these forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, achievements or other future events. Moreover, neither we nor anyone else assumes responsibility for the accuracy and completeness of these forward-looking statements. We are under no duty to update any of these forward-looking statements. You should not place undue reliance on these forward-looking statements.

Investor Relations

CarBiz Inc.
Jennifer Downey
1-800-547-2277 ext. 1203
Website: www.carbiz.com

AGORACOM Investor Relations

http://www.agoracom.com/IR/carbiz

http://www.carbiz.com

CBZFF@agoracom.com

NEWS - CarBiz Sells Its Software Division For $2.5 Million

03 Jul 2008 09:01:00 GMT

Sarasota, Florida [July 3, 2008] - CarBiz Inc. (CBZFF: OTCBB), the nation’s fourth largest Buy Here Pay Here car dealership chain and the second largest Buy Here Pay Here public company, has announced it has sold its software division to Constellation Homebuilder Systems, a division of Constellation Software Inc. (TSX:CSU) for $2.5 Million. The sales price is more than double what the software division had contributed to the company in gross profit last year.

As part of its product offerings to car dealerships in the past, CarBiz had provided the necessary software to help administer loan packages, provide independent dealer accounting, facilitate inventory management systems and help with contracting and collection functionality. With the company’s major acquisition of 26 dealerships last fall, CarBiz is now focusing its efforts on its growth strategy and the day to day operations of the dealerships it has acquired. The proceeds from the sale will be used to reduce debt and improve cash flow.

CarBiz CEO Carl Ritter stated, “While the software division had provided an excellent supplemental package to the dealerships in the past, we are focusing our efforts on the future and concentrating our efforts in areas generating higher margins. By putting our time, money, energy and resources into loan packages and other financial services, we know this will have a greater impact on the bottom line for the company and for our shareholders.”

On top of the dealership acquisitions, CarBiz also opened its first Superstore in Houston at the start of this year where it finances higher value vehicles for longer terms resulting in higher margins.

About CarBiz Inc.

Based in Sarasota, Florida, CarBiz owns and operates the nation’s fourth-largest chain of buy-here pay-here dealerships through its CarBiz Auto Credit division. Capitalizing on expertise developed over 10 years of providing software and consulting services to buy-here pay-here businesses across the United States, CarBiz entered the buy-here pay-here business in 2004 with a location in Palmetto, Florida. CarBiz has added two more credit centers since – in Tampa and St. Petersburg – and recently acquired a large regional chain in the Midwest, bringing the total number of dealerships to 26 in eight states. For more information about CarBiz and its services, visit CarBiz’s web site: www.CarBiz.com.

About Constellation:

Constellation’s common shares are listed on the Toronto Stock Exchange under the symbol “CSU”. Constellation Software is an international provider of market leading software and services to a number of industries across both the public and private sectors. The Company acquires, manages and builds vertical market software businesses that provide mission-critical software solutions to address the specific needs of its customers in those industries.

Forward-Looking Statements

All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future growth plans and objectives of CarBiz. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results or achievements to be materially different from any of our future results or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to the following: (i) whether we are successful in implementing our business strategy; (ii) our ability to increase revenues in the future and to continue as a going concern; (iii) our ability to obtain additional financing on terms favorable to us, if at all, if our operating revenues fail to increase; (iv) our ability to attract and retain key personnel; (v) the impact on the market price of our common shares of the concentration of common share ownership by our directors, officers and greater than 5% shareholders, which may delay, deter or prevent actions that would result in a change of control; (vi) the significant fluctuation of the market price of our common shares; (vii) costly difficulties we may face in the assimilation of the operations, technologies and products of companies that we may acquire in the future; (viii) the adequacy of our insurance coverage to cover all losses or liabilities that may be incurred in our operations; (ix) our dividend policy; (x) the impact on our financial position, liquidity and results of operations if we underestimate the default risk of sub-prime borrowers; (xi) general economic conditions; (xii) general competition; (xiii) our ability to comply with federal and state government regulations; (xiv) potential infringement by us of third parties’ proprietary rights; (xv) defects in our products; (xvi) our compliance with privacy laws; (xvii) our ability to obtain adequate remedies in the event that our intellectual property rights are violated; (xviii) our ability to develop and market on a timely and cost-effective basis new products that meet changing market conditions, and (xix) the risk factors identified in our most recent Annual Report on Form 10-KSB, including factors identified under the headings “Description of Business,” “Risk Factors” and “Management’s Discussion and Analysis or Plan of Operation.”

Investor Relations

CarBiz Inc.
Jennifer Downey
1-800-654-4955 ext. 1203
Website: www.carbiz.com

AGORACOM Investor Relations
http://www.agoracom.com/IR/carbiz
http://www.carbiz.com
CBZFF@agoracom.com

NEWS - CarBiz to Highlight Future Growth Strategies at Upcoming AGM

17 Jun 2008 09:02:00 GMT

SARASOTA, FLORIDA--(June 17, 2008) - CarBiz Inc. (OTCBB:CBZFF), the fourth largest buy-here pay-here car dealership chain in the United States and the second largest publicly traded buy-here pay-here company will discuss its future growth strategies at its upcoming annual general meeting this week. The Company's AGM will be held Thursday, June 19 in Sarasota, Florida.

Along with the election of directors of the Company for the upcoming year and the presentation of year end financial statements by senior management, senior management also will outline its goals for the Company for fiscal 2009. Those items will include expanding its Tier 2 program, upgrading its facilities, and reducing its debt.

After a successful pilot project, CarBiz anticipates expanding its Tier 2 program across all 26 stores in July. This program is expected to enhance growth for CarBiz while also increasing the ratio of Tier 2 to Tier 1 loan packages.

Upgrading store facilities will also be on the agenda. One location in Indianapolis and another in Springfield, Ohio have already been relocated to increase sales volumes. Physical store improvements are expected to continue over the next two years at most of CarBiz's locations in terms of size, staffing and capacity in order to increase revenues.

Debt reduction and cash flow improvements will also be discussed. The Company is working on a number of initiatives to improve these areas and fully expects to make announcements pertaining to these items over the summer months.

CarBiz CEO Carl Ritter said, "This will be a very exciting year ahead of us. We have a solid business plan in place and it's now time to start executing our plan. While I am proud of our accomplishments thus far I am even more determined for the months ahead. I look forward to speaking with our supporters and sharing with them our goals and vision for the future as we grow the business of CarBiz."

About CarBiz Inc.

Based in Sarasota, Florida, CarBiz owns and operates the nation's fourth-largest chain of buy-here pay-here dealerships through its CarBiz Auto Credit division. The Company is also a leading provider of software, training and consulting solutions to the buy-here pay-here auto dealers in the United States. CarBiz's suite of business solutions includes dealer software products focused on the buy-here pay-here, sub-prime finance and automotive accounting markets. Capitalizing on expertise developed over 10 years of providing software and consulting services to buy-here pay-here businesses across the United States, CarBiz entered the buy-here pay-here business in 2004 with a location in Palmetto, Florida. CarBiz has added two more credit centers since - in Tampa and St. Petersburg - and recently acquired a large regional chain in the Midwest, bringing the total number of dealerships to 26 in eight states. For more information about CarBiz and its services, visit CarBiz's web site: www.CarBiz.com.

Forward-Looking Statements

All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future growth plans and objectives of CarBiz. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results or achievements to be materially different from any of our future results or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to the following: (i) whether we are successful in implementing our business strategy; (ii) our ability to increase revenues in the future and to continue as a going concern; (iii) our ability to obtain additional financing on terms favorable to us, if at all, if our operating revenues fail to increase; (iv) our ability to attract and retain key personnel; (v) the impact on the market price of our common shares of the concentration of common share ownership by our directors, officers and greater than 5% shareholders, which may delay, deter or prevent actions that would result in a change of control; (vi) the significant fluctuation of the market price of our common shares; (vii) costly difficulties we may face in the assimilation of the operations, technologies and products of companies that we may acquire in the future; (viii) the adequacy of our insurance coverage to cover all losses or liabilities that may be incurred in our operations; (ix) our dividend policy; (x) the impact on our financial position, liquidity and results of operations if we underestimate the default risk of sub-prime borrowers; (xi) general economic conditions; (xii) general competition; (xiii) our ability to comply with federal and state government regulations; (xiv) potential infringement by us of third parties' proprietary rights; (xv) defects in our products; (xvi) our compliance with privacy laws; (xvii) our ability to obtain adequate remedies in the event that our intellectual property rights are violated; (xviii) our ability to develop and market on a timely and cost-effective basis new products that meet changing market conditions, and (xix) the risk factors identified in our most recent Annual Report on Form 10-KSB, including factors identified under the headings "Description of Business," "Risk Factors" and "Management's Discussion and Analysis or Plan of Operation."

For more information, please contact

Investor Relations
CarBiz Inc.
Jennifer Downey
1-800-654-4955 ext. 1203
Website: www.carbiz.com

AGORACOM Investor Relations
Email: CBZFF@agoracom.com
Website: http://www.agoracom.com/IR/carbiz

NEWS - S3 Investment Company Announces New Project Manager for Redwood Capital Subsidiary

15 May 2008 11:58:00 GMT

DANVILLE, CA---May 15, 2008 -- S3 Investment Company, Inc. (Other OTC:SIVC-PK) and its wholly owned Redwood Capital subsidiary, which assists private Chinese companies in accessing the U.S. capital markets through reverse mergers into public companies, today announced that John Bai has been appointed as project manager for Redwood Capital. Mr. Bai brings to Redwood Capital extensive experience in international financial markets

Mr. Bai most recently worked with Redwood Capital's client, Dalian Chuming, a pork processing company that trades in the U.S. as Energroup Holdings Corporation under the symbol ENHD. Mr. Bai facilitated road shows and meetings with investors; coordinated public announcements, quarterly and annual earnings releases and conference calls; managed professional services providers including investor relations, legal and auditing; assisted the CFO in SEC regulations and compliance, filings and disclosure; and arranged Board meetings and shareholder meetings and prepared the relevant documents for each.

As part of the Dalian Chuming acquisition transaction, Energroup Holdings Corporation, a Nevada corporation, acquired all of the issued and outstanding capital stock of Precious Sheen Investments Limited ("PSI"), a British Virgin Islands corporation and parent company of PRC-based Dalian Chuming.

Previously, Mr. Bai worked as an investment advisor for a full-service investment dealer based in Canada. In this position, he introduced and recommended pre-IPO companies to investors; provided financing service for public companies through private financing; kept track of the general economy, forecasted sector trends and analyzed companies' financial reports, such as balance sheets and cash flows to understand the companies' financial status; and independently analyzed, evaluated and recommended stocks, stock options and bonds to clients with satisfactory results.

Mr. Bai also served as the manager for a private fund based in Los Angeles, California, where he increased the return for each of the three years he held his position. In this role, he applied financial theories, focused on quality stocks with strong fundamentals and growth potential, disciplined in entry points selection with technical analysis, and created effective stop/loss processes.

As project manager and then chief project manager for the Ministry of Aerospace of China, Mr. Bai negotiated $20 million in savings in procurement of key components and significantly reduced the risk for a project valued in excess of $100 million, conducted numerous negotiations and signed many contracts with prices below targets, extensively traveled internationally and domestically and significantly promoted and enhanced company's business and image.

"I am very pleased to join the Redwood Capital team in the capacity of project manager," commented Mr. Bai. "There continues to be tremendous opportunities for Redwood Capital in China, and I look forward to contributing to the company's ongoing growth."

Jim Bickel, chairman and chief executive officer of S3 Investment Company, who is currently conducting business in China, stated, "We are extremely fortunate to have a professional with the experience of Mr. Bai join Redwood Capital at this time. He has proven to be highly capable in a variety of financial market settings, and his recent experience with the Dalian Chuming transaction further elevates his value to Redwood Capital."

In the recent Dalian Chuming transaction, Redwood Capital was issued 428,095 shares of Energroup Holdings Corporation as the equity portion of its payment for provided advisory services for the transaction. Institutional and accredited investors participated in a $17.0 million private placement with Energroup Holdings Corporation, paying $4.40 per share. At the placement price, the value of Redwood Capital's equity position would exceed $1.8 million. At the most recent trading price of Energroup Holdings Corporation's common stock, the value of the equity position would exceed $2.1 million.

Energroup Holdings Corporation has since reported that revenues for the year ended December 31, 2007 totaled $124.7 million, a 77% increase over the $70.4 million reported in 2006. Gross profit for 2007 was $20.3 million, representing a 61% increase from the $12.6 million reported in 2006.

To sign up to receive information by email directly from S3 Investment Company when new press releases, investor newsletters, SEC filings or other information is disclosed, please visit http://www.s3investments.com/investors/.

About S3 Investment Company

S3 Investment Company, Inc. (http://www.s3investments.com) is a holding company with two subsidiaries doing business in the China market. S3 holds a 100% equity interest in Redwood Capital (http://www.redwoodcapinc.com), which assists private Chinese companies in accessing U.S. capital markets by utilizing a network of investment banking relationships to achieve reverse merger transactions, and a 51% equity interest in SINO UJE (http://www.sinouje.com), a non-stocking distributor of medical and industrial high-tech products to markets throughout China.

Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on forward-looking statements. S3 Investment Company, Inc. undertakes no obligation to update any such statements to reflect actual events.

Contact:

     Contact:
     For S3 Investment Company
     Gemini Financial Communications, Inc.
     A. Beyer
     (951) 677-8073

NEWS - Oman Government Approves Commercial Terms For Omagine Project

12 May 2008 09:21:00 GMT

NEW YORK, May 12, 2008 -- Omagine, Inc. (OTCBB: OMAG), (the “Company”) today announced it received an official letter from the Government of Oman (the “Government”) formally approving the terms by which the Omagine Project will be developed (the “Approval Letter”).

The Company is required to formally notify the Government in writing by May 30, 2008 of its approval of the Approval Letter and furnish the Government with various confirmations relating to shareholders of the Project Company and elements of the Project.

The Company’s president, Frank J. Drohan said: “We are gratified by this final approval and pleased with the results. Our carefully chosen strategic investor partners including CCC, Bank Muscat and local Omani business persons are committed to delivering this signature project for the people of the Sultanate of Oman. Our attorneys are now concluding the Development Agreement with the Ministry of Tourism and we and the Government look forward to signing it within the next several weeks.”

The Omagine Project is an elegant and sophisticated blending of entertainment, hospitality, retail and residential elements, with heritage, educational and cultural components.

Located on over 240 acres of prime beach front property just minutes from Muscat International Airport and downtown Muscat, Omagine’s jewel like architecture will mark the place and set new standards. The Project includes retail, hotel and commercial office elements and several hundred thousand square meters of distinctive residences in an incomparable location.

“When completed in four or five years, Omagine will be the destination in Oman for tourists, business travelers and the local population and will play a major role in the Sultanate’s burgeoning tourism sector.” commented Drohan.

The Company is the majority shareholder of the Project Company which will own and develop the Omagine Project.

About Omagine, Inc.

Omagine, Inc. is primarily involved in the real-estate development, entertainment and hospitality industries in the Middle East and North Africa.

Through its wholly owned subsidiary Journey of Light, Inc., the Company will design, develop, build, own and operate the Company’s planned $1.5 billion plus tourism project in the Sultanate of Oman.

About the Omagine Project

The Company's planned Omagine Project is an integration of cultural, heritage, educational, entertainment and residential components. As presently planned, the Omagine Project will be located on approximately one million square meters of beachfront land facing the Gulf of Oman just west Muscat -- the capital city of the Sultanate of Oman and near Muscat International Airport.

The Omagine Project also includes several hundred thousand square meters of residential property that will be developed for sale. Significant commercial, retail and hospitality elements are also included. The Omagine Project is expected to take between 4 to 5 years to complete.

For further details on the Omagine Project: www.omagine.com.

Investors are encouraged to visit Omagine's Investor Relations Hub at: http://www.agoracom.com/IR/Omagine or contact OMAG@agoracom.com where they may join the investor e-mail list and/or request receipt of all future press releases and updates in real time.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company’s business include but are not limited to: failure to sign the development agreement with the Government of Oman; the availability of financing for the Omagine Project; fluctuations in financial results, availability and customer acceptance of the Company's products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company’s SEC reports.

CONTACT:

Omagine, Inc.

Corporate Inquiries

(212) 563-4141

Investor Relations

AGORACOM Investor Relations

http://www.agoracom.com/ir/omagine

OMAG@Agoracom.com

NEWS - Omagine, Inc. Information to be Available Through S&P Market Access Program

05 May 2008 15:18:00 GMT

NEW YORK, May 5, 2008 -- Omagine, Inc. (OTCBB:OMAG) ("Omagine" or the "Company") announced today that its company information will be made available via Standard & Poor's Market Access Program, an information distribution service that enables subscribing publicly traded companies to have their company information disseminated to users of Standard & Poor's Advisor Insight. The company information to be made available through this program includes share price, volume, dividends, shares outstanding, company financial position, and earnings. Standard & Poor's Advisor Insight is an Internet-based research engine used by more than 100,000 investment advisors. A public version of the site is available at www.advisorinsight.com.

In addition, information about companies in Standard & Poor's Market Access Program will be available via S&P's Stock Guide database, which is distributed electronically to virtually all major quote vendors. As part of the program, a full description of Omagine, Inc. will also be published in the Daily News section of Standard Corporation Records, a recognized securities manual for secondary trading in approximately 38 states under the Blue Sky Laws.

About Standard & Poor's

Standard & Poor's, a division of The McGraw-Hill Companies (NYSE:MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 7,500 employees, including wholly owned affiliates, located in 21 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com.

Company information distributed through the Market Access Program is based upon information that Standard & Poor's considers to be reliable, but neither Standard & Poor's nor its affiliates warrant its completeness or accuracy, and it should not be relied upon as such. This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument.

About Omagine, Inc.

Omagine, Inc. is primarily involved in the real-estate development, entertainment and hospitality industries in the Middle East and North Africa. Through its wholly owned subsidiary Journey of Light, Inc., the Company will design, develop, build, own and operate the Company's planned $1.5 billion plus tourism project -- the Omagine Project -- in the Sultanate of Oman.

About the Company's Omagine Project

The Company's planned Omagine Project is an integration of cultural, heritage, educational, entertainment and residential components. As presently planned, the Omagine Project will be located on approximately one million square meters of beachfront land facing the Gulf of Oman just west of Muscat -- the capital city of the Sultanate of Oman and near Oman's International Airport.

The Omagine Project also includes several hundred thousand square meters of residential property that will be developed for sale of residential housing units. Significant commercial, retail and hospitality elements are also included. The Omagine Project is expected to take between 4 to 5 years to complete.

For further details on the Omagine Project: www.omagine.com.

Investors are encouraged to visit Omagine's Investor Relations Hub at: http://www.agoracom.com/IR/Omagine or contact OMAG@agoracom.com where they may join the investor e-mail list and/or request receipt of all future press releases and updates in real time.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to: failure to sign the development agreement with the Government of Oman; the availability of financing for the Omagine Project; fluctuations in financial results, availability and customer acceptance of the Company's products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company's SEC reports.

CONTACT:

Omagine, Inc.

Corporate Inquiries

(212) 563-4141

Investor Relations

AGORACOM Investor Relations

http://www.agoracom.com/ir/omagine

OMAG@Agoracom.com

Standard & Poor’s Customer Contact:

Richard Albanese

212 438-3647

richard_albanese@sandp.com

Standard and Poor's Media Relations Contact:

Michael Privitera

212 438-6679

michael_privitera@sandp.com

NEWS - CarBiz CEO Issues Letter to Shareholders Providing Additional Perspective Following Annual Report Filing

01 May 2008 09:33:00 GMT

Sarasota, Florida [May 1, 2008] - CarBiz Inc. (CBZFF: OTCBB), the fourth largest Buy Here Pay Here car dealership chain in America filed its annual report earlier this week. As a result, CarBiz CEO Carl Ritter has issued the following letter to shareholders to provide this additional perspective:

Over the past six months, our company has experienced significant changes in every area of our operations. Many of our shareholders have asked me to provide some type of guidance so that they can better understand what CarBiz is today and where it is headed tomorrow. The best way for a shareholder to learn about all of the changes is to read our Annual Report on Form 10-KSB, filed with the SEC on April 30, 2008, which can be accessed over the internet at www.sec.gov/edgar/searchedgar/compan... .

In this letter, I will provide you with a summary of some of the more important operational changes discussed in the Annual Report and give you an idea about our vision for the future of the company.

In October of last year, we began a process of significant change through the acquisition of a mid-western chain of 23 used car stores and a portfolio of associated consumer loans. Subsequently, in December, we purchased an additional portfolio of consumer loans associated with used car financings and we opened our first used car “Supercenter,” in Houston Texas.

We currently operate a chain of twenty six (26) used car stores. At our stores, we offer financing for the used cars we sell, and we provide financing to consumers with poor credit. We hold these consumer notes as assets and pledge them as collateral under our newly expanded senior credit facility, which is fully described in our Annual Report on Form 10-KSB. We believe that this credit facility puts in place the financial foundation for the company to grow for many years without the need for additional funding.

In the first quarter of this year we have been ramping up our operations, and by the end of the quarter we will have all of our 26 stores fully operational. We expect that the ramp up in operations at the stores will continue throughout the balance of the year with increased revenue on a same store sales basis and that each quarter during 2008 will reflect an increase. In the first quarter of this year we expect that revenues will be close to $10,000,000, which is a very significant increase over the revenues for the first quarter of 2007. We have also focused our attention on earnings and expect to produce a net operating profit this fiscal year. Each quarter should improve in dollars and as a percentage of revenues in this fiscal year. Of course, there are numerous risk factors that could affect our anticipated results. Many of these are described in our Annual Report, and you should review them.

Our current business model embraces an average vehicle sale price of about $6,000. Over the past several weeks, we have prepared to launch a pilot project at four of our current stores that will broaden our product and financing options for consumers with vehicle sales prices up to $20,000. This will provide an opportunity for each of our stores that participate in this pilot project to reach a broader consumer market and potentially increase sales at each of these stores. We call this project a “tier 2” lending program and have created specific underwriting and collection processes for this project. By the end of the year, we hope that each store with a “tier 2” designation will have a ratio of 1:1 (tier 1 to tier 2) product sales. The successful result to each store that enjoys a tier 2 status would be a substantial increase in revenues even without an increase in unit sales. Our plan is to continue to increase the number of stores that enjoy “tier 2” status throughout the year.

In regard to the broader economy and its impact on our business, we see the U.S. as being in a practical recession, if not an official recession. We certainly seem to be in a period of diminished economic growth and experiencing a level of uncertainty that the U.S. has not seen in many years. A recession does not necessarily have a negative impact on our business. That said, inflation and specifically the cost of fuel and associated cost of living increases due to rising fuel costs does have an impact on consumers and their ability to stay current with their obligations, including car loans. Our proprietary collection systems provide flexibility at a regional management level to assist consumers and help to keep them on track with their car payments. We have also adopted into our underwriting profile an expectation of fuel prices reaching $4.50 a gallon, so that we take proactive steps to maintain our consumer loan portfolio.

In summary, CarBiz is a very different company than it was six months ago. Our expectation of first quarter revenues and earnings is that they will be substantially greater than any comparable period in our history, and we expect that each subsequent quarter this year will see continued growth. We have a strong and committed senior lender in place and our efforts will now be focused on improving our bottom line and efficiencies in both our operations and our financial structure. The recent announcement that introduced “Pointe Atlantic” as our investment banker is part of our plan to re-introduce CarBiz to the institutional investment community.

Moving forward we see immense opportunity for CarBiz to expand its revenues and earnings within its current distribution network. Our focus will move to expanding productivity at each of our current stores and making them as efficient as they can be. Some stores may be closed or moved to better locations; most of them will be expanded over time to maximize the profitability on a store by store basis. At the corporate level, there will be a focus on store branding, debt reduction and positioning the company to improve our cash flow so that we can invest those resources into the expansion project without increasing debt. I encourage you all to follow our company’s results closely; the 1st quarter will set a new benchmark for CarBiz.

Thank you for your interest in the company and your continued support.

Yours truly

Carl Ritter
Chief Executive Officer

About CarBiz Inc.
Based in Sarasota, Florida, CarBiz owns and operates the nation’s fourth-largest chain of “buy-here pay-here” dealerships through its CarBiz Auto Credit division. The company is also a leading provider of software, training and consulting solutions to the United States automotive industry. CarBiz’s suite of business solutions includes dealer software products focused on the “buy-here pay-here,” sub-prime finance and automotive accounting markets. Capitalizing on expertise developed over 10 years of providing software and consulting services to “buy-here pay-here” businesses across the United States, CarBiz entered the market in 2004 with a location in Palmetto, Florida. CarBiz has added two more credit centers since – in Tampa and St. Petersburg – and recently acquired a large regional chain in the Midwest and one in Houston, bringing the total number of dealerships to 26 in eight states. For more information about CarBiz and its services, visit CarBiz’s web site: www.CarBiz.com.

Forward-Looking Statements

CarBiz Inc.
Jennifer Downey
1-800-654-4955 ext. 1203
Website: www.carbiz.com

AGORACOM Investor Relations
http://www.agoracom.com/IR/carbiz
http://www.carbiz.com
CBZFF@agoracom.com