LOS ANGELES and SHENZHEN,
China,
Sept. 7 /PRNewswire-FirstCall/ --
Universal Travel Group (OTC Bulletin Board: UTVG) which operates through its
wholly owned subsidiary, Shenzhen Yu Zhi Lu Aviation Service Company Ltd.
(YZL), a leading air cargo transporter and air travel agency in Southern
China, announced today the appointment of
Richard Randall to the company's
board of directors and as chairman of the company's independent audit
committee.
Randall, who is a CPA, has held various senior level management positions
during his career, including 26 years as a CFO. At his last post, Randall
served as executive vice president, chief operating officer and chief
financial officer for Direct Holdings Worldwide, LLC., the parent company for
Time Life and the Lillian Vernon Corp. During Randall's tenure as Direct
Holding's CFO, revenues increased from $200 to $500 million with the
acquisition of Time Life.
Randall also served as the senior vice president and CFO of Coach, Inc.
playing an integral part of the management team that led Coach's transition
from its status as a division of Sara Lee to an independent, publicly owned
company in one of the most successful IPOs in recent history.
Randall has also served as a director for various boards and committees,
including Steve Madden Ltd., Burke Rehabilitation Hospital and Baruch College.
Chairman and Chief Executive Officer Ms. Jiangping Jiang said, "As
Universal Travel expands its service offerings, Dick's background in dealing
with publicly traded companies and mergers and acquisitions will be valuable
to help us reach new levels of growth and bring greater returns to our
shareholders."
Richard Randall said, "I am eager to join Universal Travel's board as they
contemplate new acquisitions as part of their strategic growth in the travel,
hotel booking, tour packaging and air cargo industries. This is an exciting
time for the company as it moves closer towards its goal of becoming an
industry leader."
About Universal Travel Group
Universal Travel Group, a leading air travel and air cargo transportation
agency in Southern China, is engaged in providing reservation, booking, and
domestic and international travel and tourism services throughout China. The
company's core services include booking services for air tickets and hotels as
well as air cargo transportation and tour packaging for customers. Universal
Travel recently completed the acquisitions of Shenzhen Speedy Dragon
Enterprise Ltd., a nationwide cargo logistics company, Xi'an Golden Net Travel
Serve Service Co., Ltd. which provides air tickets, train tickets and packaged
tours, and Shanghai Lanbao Travel Service Co., Ltd., which owns and manages
the award winning China Booking Association website http://www.cba-hotel.com/.
Universal Travel's goal is to become China's leading travel services provider
in the aviation, cargo, hotel booking and tour packaging segments. For more
information, visit www.chutg.com.
A profile for investors can be accessed at
http://www.hawkassociates.com/utvgprofile.aspx. For investor relations
information regarding Universal Travel Group, contact Jacalyn Guo at (310)
443-4151, e-mail Jacalyn@chutg.com, or contact Frank Hawkins or Julie
Marshall, Hawk Associates, at (305) 451-1888, e-mail info@hawkassociates.com.
An online investor kit including press releases, current price quotes, stock
charts and other valuable information for investors may be found at
http://www.hawkassociates.com and http://www.americanmicrocaps.com. To receive
free e-mail notification of future releases, subscribe at
http://www.hawkassociates.com/email.aspx.
Forward-looking Statement:
The statements in these news releases contain forward-looking information
within the meaning of the Private Securities Litigation Act of 1995. Such
forward-looking statements involve certain risks, assumptions and
uncertainties. In each case actual results may differ materially from such
forward-looking statements. Any statements regarding targets for future
results are forward-looking and actual results may differ materially. These
are the company's targets, not predictions of actual performance.
Contact: Jacalyn Guo
e-mail: Jacalyn@chutg.com
Phone: (310) 443-4151
www.chutg.com
Investor Relations Contact:
Hawk Associates, Inc.
Frank Hawkins and Julie Marshall
Phone: (305) 451-1888
E-mail: info@hawkassociates.com
http://www.hawkassociates.com