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Tim Gao Named Chief Executive Officer of the Teda Hotels Management Company Limited

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Former Sheraton, Holiday Inn Executive Joins Top
Chinese Hotel Management Company

HONG KONG, July 20, 2004 - Teda Travel Group, Inc.  (OTC Bulletin Board: TTVL), announced today it has appointed Mr. Tim Gao, as its Chief Executive Officer of the Teda Hotels Management Company Limited, a wholly owned subsidiary of Teda Travel Group.  Mr. Gao is well respected in the hotel management industry in China and brings more than 15 years of operating experience in hotel management to the Group.

Mr. Gao said, ''I am glad to have joined Teda Travel Group, Inc.  The Company has great ambitions and has established excellent networks in China, putting itself in a position to succeed at the highest levels.  The road to success is long and tedious, but I can see a very bright future with the Group.  We are moving full speed ahead with our acquisition plan and I expect we'll be sharing good news with our shareholders in the near future.''

Prior to joining Teda, Mr. Gao was Chief Executive Officer and General Manager of the Orient Hotel Management Company Limited, a wholly owned subsidiary of Bank of China (Holdings) Limited, the largest banking institution in China.  Under Mr. Gao's leadership, Orient Hotel Management Company has become China's top 3 Hotel Management Company, which manages 19 hotels and commercial properties throughout China.

Madame Zhi ying Chang, Chairlady of Teda Travel Group, said, ''We are moving quickly within the hotel management and travel related sector in China.  With Tim's background and experience, I am certain he will guide us swiftly through the implementation of our acquisition strategy.  We look forward to posting a great performance in the hotel management division under his leadership.''

Mr. Gao, also serves as Vice President of China Hotel Association, is widely regarded as the founder of the Dynamic Human Resources Management Model in China, and one of founders of the Oriental Jasper Hotel Brand.

Mr. Gao stated, ''In China the travel industry is an over $50 billion market and expanding about 15% per year.  Spurred by the booming Chinese economy, the Chinese leisure and business travel sector will continue to grow not only from domestic tourism but also from international travelers.''

Godfrey Hui, CEO of Teda Travel Group, said, ''With the Olympics in 2008 and the Shanghai Word Expo in 2010, we see immediate and dramatic growth not only in our industry, but within the Group as well.  With Tim's leading our Hotel Operations division, and with the combined hospitality and travel expertise of the entire Group, I'm certain we're going to take our operations to the next level.''

About Mr. Tim Gao

He earned his MS Degree from the School of Foreign Service, at Georgetown University, Washington DC and his MA Degree in Social Psychology at the College of Arts and Sciences, State University of New York at Albany.  Mr. Gao additionally earned a DPA Degree at the Graduate School of Public Administration, New York University (private).

Starting his career in the hotel business in 1989, Mr. Gao worked his way up from Training Manager at Shangri la and Sheraton, to Director of Human Resources at Holiday Inn and Meritus, to Deputy General Manager and Acting GM at Gloria Hotel Suzhou.  Mr. Gao earned the position of Group Director of Human Resources and Vice President of Project Development at Gloria International, and finally to the position of CEO of the Orient Hotel Management Company Ltd.

About Teda Travel Group, Inc.

Teda Travel is a property management company providing services to hotels
and resorts throughout China.  The company is responsible for the supervision and day-to-day operations of the properties it manages.  In addition to its property management division, Teda Travel also has its own portfolio of real estate investments.  Leveraged on its existing core businesses and the brand name ''TEDA'', one of most recognized names in China, TEDA Travel intends to become a market leader in the fast growing Chinese travel and real estate services industry.

About Tianjin Economic and Technological Development Area (TEDA)

Tianjin Economic and Technological Development Area (TEDA) is one of
earliest approved and best state-level development zones in China.  TEDA has now has a developed area of 33 square kilometers (approximately 20 square miles).  TEDA is located to the southeast of Tianjin City, about 45 kilometers (27 miles) away from downtown and 140 kilometers (84 miles) from Beijing.  TEDA enjoys easy access to North China, Northeast China and Northwest China.

As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 

 

 
Contact:

Teda Travel Group, Inc.
John Roskelley, President
First Global Media
Tel:  +1-480-902-3110

Also See: InterContinental Hotels Group Signs Nine New Management Contracts in China / May 2004
Global Update: Who’s Where and Doing What / The Boutique Search Firm / May 2004


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