HONG KONG, April 14 /PRNewswire-FirstCall/ -- China Premium Lifestyle Enterprise, Inc. (OTCBulletinBoard:CPLY) today announced that Italian Motors (Sales & Service) (IMSS), a division of Auto Italia Limited, a wholly owned subsidiary of its 49%-owned entity Technorient Ltd., will take to the track in 2008 as 'IMSS Racing.' Motor racing is an important part of Ferrari's global marketing strategy and so it is entirely fitting that IMSS uses this platform to market the company and its services.
This is not the first time that IMSS has been represented on racing tracks in Asia. The original founder of the company and China Premium Lifestyle Enterprise, Inc.'s Director and COO, Herbert Adamczyk, achieved notable success on Asian circuits in the past, having won Macau's famous "Guia" touring car race twice in 1976 and 1979, and the Malaysian Touring Car Championship in 1980. IMSS also started the 'Supercar Challenge' race series in 1984 specifically for its Hong Kong clients. This series has evolved over the past two decades into today's Asia Supercar Challenge.
The newly structured team will manage a total of seven Ferraris this year, including two F430 GT3's. This model is a bespoke racing car created by the renowned Swiss company, Loris Kessel Racing, under licence from Ferrari SpA. The team's other five cars will be Challenge Pistas, Ferrari's race car developed from its successful road model, the F430. The seven drivers will include six clients of IMSS from Hong Kong, with the seventh being a professional race car driver and instructor from Italy, Mimmo Schiattarella. Schiattarella has a most impressive CV including experience in the IMSA series, IndyCar, the American Le Mans Series and a class win in the famous 24 Hours of Le Mans in France.
IMSS Racing will compete in the 2008 Asia Supercar Challenge (ASCC). The series commences in April at the Shanghai International Circuit in China, moves to Sepang in Malaysia in May and June, to Hong Kong's local circuit in Zhuhai, China, in July, to Cheng Du in China in September and concludes in Shanghai in November.
"Motor racing is a natural extension of our business portfolio," said John Newman, Executive Vice President of China Premium Lifestyle Enterprise, Inc. "We've seen how the ASCC Championship has grown in recent years and having been approached by a number of customers wishing to participate, we've structured a comprehensive team and recruited seven drivers. We will be the largest team competing in the ASCC series in 2008 and with competitive race cars, we're aiming for a Championship win from the outset." He continued, "Motor racing is growing in popularity in Asia and so we see this initiative as the ideal platform to promote the company to a wider audience."
About China Premium Lifestyle Enterprise
China Premium Lifestyle Enterprise, Inc., through its 49%-owned entity, has established itself as a leading Ferrari and Maserati importer, distributor and dealer in Hong Kong and dealer in China, having been affiliated with Ferrari and Maserati since 1992 and 1994 respectively. The company is expanding its offerings to include other luxury brands and goods from around the world, such as the John Richmond fashion line from Italy, which the company markets to its already established customer base of high net worth Chinese individuals.
Forward Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the Company and its subsidiaries. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by the Company may differ materially from these statements due to a number of factors. Any forward-looking statements speak only as of the date made. Statements made in this release that are not purely historical are forward-looking statements, beliefs, plans, expectations or intentions regarding the future. Risk factors that may cause results to differ from projections include, without limitation, loss of suppliers, loss of customers, inadequate capital, competition, loss of key executives, declining prices, and other economic factors. The Company assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. Investors should independently investigate and fully understand all risks before making investment decisions.
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Source: China Premium Lifestyle Enterprise, Inc.