Prince Catering & Management (Overseas) Limited

 

(“Prince” or the “Company”)

 

New restaurants added to growing Prince chain in China

 

AIM-quoted Prince is pleased to announce that since admitting to AIM earlier this year, it has opened one addition to its branded chain of luxury restaurants in China, and agreed to open another restaurant during 2007.

 

It has opened the Kingfar Prince restaurant in its home town of Xi’an, in Shaanxi Province, and agreed terms to open another also in Xi’an in the near future – the Platinum Prince.

 

The opening of the 320-seat Kingfar Prince, brings to 14 the number of luxury managed Prince restaurants in Hong Kong and mainland China, where an increasingly affluent middle class is expected to spend £68 billion in the catering sector this year. Prince is run by one of China’s master chef’s Chief Executive Guangfan Mai.

 

Mr Mai said: “This is another important step forward for us as we continue to develop the Prince brand across China, and our success in securing the new site in Xi’an reflects the demand for high-quality service in the restaurant sector.”

 

Prince, which admitted to AIM in August 2006, also operates a hotel and health club in Xi’an, home of the famous terracotta army, and has signed a management contract to operate a second hotel in Beijing.

 

Prince diners are typically business professionals and groups from the middle and upper classes, who follow the established Chinese custom of private dining in restaurants. The new Kingfar Prince includes 31 private dining rooms and covers 5000 sq metres.

 

For further information contact:

Laurie Beevers, W H Ireland Ltd:                                     +44 (0) 7903 164 004

Allan Piper, First City Financial Public Relations:              +44 (0) 20 7436 7486

Jiang Lei: First City Financial Public Relations:                 +85 2 6419 2915

                                                                                    +86 138 0800 7147

END