Winland Online Shipping Reports 2009 Second Quarter Results Continued to Be Impacted by Depressed Global Shipping

DALIAN, THE PEOPLE'S REPUBLIC OF CHINA, Aug 17 (MARKET
WIRE) --
Winland Online Shipping Holdings Corporation (OTCBB: WLOL), a PRC-based
global shipping company which also owns and operates China's largest
shipping website portal "Shipping Online" (www.sol.com.cn), announced
today that depressed shipping activity induced by the global financial
crisis continued to affect results in its second quarter and first six
months ended June 30, 2009.

The Company reported that second quarter revenues in 2009 were
$11,936,089, approximately $600,000 lower than in the first quarter this
year, and approximately 52.2% lower than revenues in the second quarter
last year of $24,961,972. The Company reported a net loss in the 2009
second quarter of $(1,079,423) or $(0.01) per share compared with net
income in the same period last year of $7,224,566 or $0.07 per share
representing a decline of 114.9%. The loss in the 2009 second quarter
narrowed considerably, however, from the $(3,195,885) loss reported in
the first quarter this year.

In the first six months of 2009 revenues declined 52.5% to $28,870,034
from $52,320,398 in the same period a year earlier. The net loss recorded
in the first six months of 2009 was $(4,156,280) or $(0.03) per share,
compared with net income of $14,088,105 or $0.13 per share in the first
six months last year.

The Company said the significant decrease in revenue in the quarter and
first half was due to the severity of the decline in the global shipping
market as the effects of the global financial crisis and the economic
recession have broadened and deepened since late 2008. The Baltic Dry
Index, a leading indicator of the global dry bulk shipping market, dropped
about 71% for the six months ended June 30, 2009 as compared with the same
period of 2008.

According to Ms. Xue Ying, the Company's CEO, a bright spot in the first
six months of the year was the continuing growth of the Company's online
services. She commented, "We believe this growth reflected management's
strategic decision to implement and market our shipping online portal,
'Shipping Online,' more aggressively. In our view this will position us
very well in the industry when the worldwide recession begins to recede
and we will continue to push forward to expand our market share."

She continued, "In June this year we also decided to initiate activity to
add a new ship to our fleet and made a 10% cash deposit on a 2003 built
handysize vessel with a $20.7 million purchase price. While the
acquisition has not yet been completed, it is in line with our strategy
of seeking to take advantage of current economic conditions to steadily
expand our capacity to add to the size of our fleet of 13 vessels."

Commenting on the steps taken so far to face the challenges posed in the
current difficult environment, Mr. Li Honglin, president and founder of
the Company, stated, "We believe we have pursued and implemented
successful initiatives to improve profitability by continuing to press
ahead with implementing our online portal which has translated to sales
increases. Additionally, we have implemented cost control strategies to
cut vessel management and general management costs. At the same time, to
strengthen our financial position we have been aggressive in collecting
outstanding balances without negatively impacting customer relationships,
which are of paramount importance. Additionally, we have obtained a short
term credit line and are currently negotiating a longer term loan."

"Looking ahead," Mr. Li added, "we continue to expect to come through this
economic storm with a larger, more diversified fleet and with our online
and off-line international shipping and logistical services in an even
stronger position and setting the pace for the maritime industry in
China."

Company Description

Based in the port city of Dalian, in the People's Republic of China (The
PRC), Winland Online Shipping Holdings Corporation is a global shipping
company with a fleet of 13 Company-owned vessels, mainly in the handysize
and MPP (Multi-Purpose Vessel) category, engaged in international bulk
cargo transportation. The Company also owns and operates "Shipping Online"
-- www.sol.com.cn -- which is China's largest shipping industry portal.
Helping to transform the shipping industry in China, the site functions
as not just an information provider, but as a business platform, providing
on-line and off-line international shipping and logistics services, such
as bulk cargo chartering, container booking, shipping agents, ship
trading and building, spare parts supplies, crew recruitment as well as
shipping news and data.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995:

This news release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on current expectations or beliefs,
including, but not limited to, statements concerning the Company's
operations, financial performance and condition. For this purpose,
statements that are not statements of historical fact may be deemed to be
forward-looking statements. The Company cautions that these statements by
their nature involve risks and uncertainties, and actual results may
differ materially depending on a variety of important factors, including,
but not limited to, the impact of competitive services and products,
pricing and new technology; changes in customer preferences and
effectiveness of marketing; changes in laws and regulations; fluctuations
in costs of doing business, and other factors as those discussed in the
Company's reports filed with the Securities and Exchange Commission from
time to time. In addition, the company disclaims any obligation to update
any forward-looking statements to reflect events or circumstances after
the date hereof.

No securities regulatory authority has either approved or disapproved the
contents of this news release.

WINLAND ONLINE SHIPPING HOLDINGS CORPORATION
(FORMERLY TRIP TECH, INC.) AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF
INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS)

Three Months Ended Six Months Ended
June 30, June 30,
2009 2008 2009 2008
------------ ------------ ------------ ------------
REVENUES $ 11,936,089 $ 24,961,972 $ 24,870,034 $ 52,320,398

COSTS AND EXPENSES
Vessel operating
expenses 9,843,113 13,375,442 21,543,075 29,772,896
Service costs 714,473 1,502,819 1,982,960 2,649,874
Depreciation and
amortization 1,794,742 1,792,203 3,800,278 3,528,625
General and
administrative
expenses 634,857 721,063 1,345,055 1,443,336
Selling expenses 72,048 - 164,158 -
------------ ------------ ------------ ------------
TOTAL COSTS AND
EXPENSES 13,059,233 17,391,527 28,835,526 37,394,731

OTHER INCOME
(EXPENSES)

Interest expense,
net (43,478) (160,523) (91,726) (361,360)
Other income
(expense), net 92,433 (49,013) (92,509) (352,200)
------------ ------------ ------------ ------------

(LOSS) INCOME FROM
OPERATIONS BEFORE
INCOME TAXES (1,074,189) 7,360,909 (4,149,727) 14,212,107

INCOME TAX EXPENSE (5,234) (136,343) (6,553) (124,002)
------------ ------------ ------------ ------------

NET (LOSS) INCOME (1,079,423) 7,224,566 (4,156,280) 14,088,105
------------ ------------ ------------ ------------

OTHER COMPREHENSIVE
INCOME

Foreign currency
translation gain
(loss) 492 126,511 (45,497) 308,045
------------ ------------ ------------ ------------

COMPREHENSIVE
(LOSS) INCOME $ (1,078,931) $ 7,351,077 $ (4,201,777) $ 14,396,150
============ ============ ============ ============

WINLAND ONLINE SHIPPING HOLDINGS CORPORATION
(FORMERLY TRIP TECH, INC.) AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF
INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS)
(UNAUDITED)

Three Months Ended Six Months Ended
June 30, June 30,
2009 2008 2009 2008
----------- ----------- ----------- ------------
Weighted average shares
outstanding
Basic 130,000,000 106,925,000 130,000,000 106,925,000
=========== ============ =========== ============
Diluted 130,000,000 106,925,000 130,000,000 106,925,000
=========== ============ =========== ============

Net (loss) income per
share
Basic $ (0.01) $ 0.07 $ (0.03) $ 0.13
=========== ============ =========== ============
Diluted $ (0.01) $ 0.07 $ (0.03) $ 0.13
=========== ============ =========== ============

Contacts:
Winland Online Shipping Holdings Corporation

Tiger Cai
Investor Relations
Tel:86-411-39660009
Fax:86-411-39660007
Email: Tiger@winlandshipping.com

Nancy Jing
Chief Financial Officer
Tel: 1 510 589 9999
Fax: 1 800 779 2319
Email: nancy@winlandshipping.com

Ken Donenfeld
DGI Investor Relations, Inc.
Tel: 212-425-5700
Email1: donfgroup@aol.com
Email2: kdonenfeld@dgiir.com

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