Universal Travel Group Appoints New Chief Financial Officer and Audit Committee Chair

Universal Travel Group Appoints New Chief Financial Officer and Audit
Committee Chair

SHENZHEN, China, Aug. 17 /PRNewswire-Asia-FirstCall/ -- Universal Travel
Group (Amex: UTA) ("Universal Travel Group" or the "Company"), a growing
travel services provider in the People's Republic of China ("PRC")
specializing in online and customer representative services to the travel
service industry offering packaged tours, air ticketing and hotel reservation
services, today announced the appointment of Mr. Philip Yizhao Zhang to the
position of Chief Financial Officer and Mr. Lawrence Lee as the new
Independent Director and Audit Committee Chairperson.
Mr. Zhang has over 13 years of experiences in portfolio investment,
corporate finance, and accounting. He joined Universal Travel Group as the
Company's Independent Director and Audit Chairman on June 24, 2008. From April
2006 to January 2009, Mr. Zhang was the Chief Financial Officer for several
reputable and well-managed public Chinese companies listed in the U.S. From
April 2005 through April 2006, he was Vice President and Senior Manager at
Chinawe Asset Management Consultancy Limited, a U.S. public company which
mainly manages non-performing loan assets in China. Mr. Zhang is a Certified
Public Accountant of Delaware, and a member of the American Institute of
Certified Public Accountants (AICPA). Mr. Zhang received a Bachelor's degree
in Economics from Fudan University, Shanghai in 1992 and obtained an MBA
degree with Financial Analysis and Accounting concentrations from the State
University of New York at Buffalo in 2003.
"I am extremely pleased to be joining the Company at this time during
period of solid, sustainable growth," said Mr. Philip Zhang. "I look forward
to leveraging my experience to maintain transparent communication with the
investment community. I am confident the Company will strive for excellence
with continued diligence and determination."
Mr. Lee has served as Chief Financial Officer of Synutra International,
Inc. a NASDAQ-listed company, since October 1, 2007. From August 1, 2004 to
September 30, 2007, Mr. Lee was Vice President and Chief Financial Officer of
Kasen International Holdings Limited, a public company listed on the Hong Kong
Stock Exchange. Mr. Lee is an associate member of the Association of Chartered
Certified Accountants (ACCA). Mr. Lee received a Bachelor's degree in
Management and Engineering from Beijing Institute of Technology, a Master's
degree in Economics from Renmin University of China, and a Master's degree in
Accounting and Finance from the London School of Economics.
"It's my honor to be a part of this fast-growing company with an
innovative business model and supportive management team," said Mr. Lawrence
Lee. "Leveraging my previous experience, I aim to provide insightful and
responsible assistance to the senior management team to ensure the healthy and
promising growth of Universal Travel Group."
"Mr. Zhang and Mr. Lee each brings more than 10 years of experience in
financial services and accounting to their new positions at Universal Travel
Group," said Ms. Jiangping Jiang, Chairwoman and CEO of Universal Travel
Group.
"We are proud to have them on our team. They both possess solid leadership
skills and strategic vision, attributes we look for in all our team members. I
would like to thank Mr. Jing Xie for his excellent service in the CFO
capacity;
we plan to utilize his talent to focus more on operations to manage our fast
growth. We will work cohesively to continue to reach our goal of making
Universal Travel Group an industry leader in the PRC."
About Universal Travel Group
Universal Travel Group, a growing travel services provider in the PRC, is
engaged in providing reservation, booking, and domestic and international
travel and tourism services throughout the PRC via the internet and through
customer representatives. Under the theme "Wings towards a more colorful life"
the Company's core services include tour packaging for customers and booking
services for air tickets and hotels. In 2007, Universal Travel Group completed
the acquisitions of Shenzhen Speedy Dragon, specializing in air cargo
transportation; Xi'an Golden Net, specializing in travel packaged tours;
Shanghai LanBao, specializing in hotel reservation and Foshan Overseas
International, a PRC-based company that handles domestic and international
travel inquiries. In 2009, Universal Travel Group sold Shenzhen Speedy Dragon
to focus on more profitable travel related businesses and its cost effective
TRIPEASY Kiosks expansion. Universal Travel Group's goal is to become the
PRC's leading travel services provider in all fields of the tourism industry
including the aviation, hotel booking and tour packaging segments. For more
information about the Company, please visit http://us.cnutg.com .
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995
This press release contains certain statements that may include
"forward-looking statements" within the meaning of federal securities laws.
All statements, other than statements of historical facts, included herein are
"forward-looking statements." Although the Company believes that the
expectations reflected in these forward-looking statements are reasonable,
they do involve assumptions, risks and uncertainties, and these expectations
may prove to be incorrect. Investors should not place undue reliance on these
forward-looking statements, which speak only as of the date of this press
release. The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a variety of
factors, including the Company's ability to successfully expand its market
presence and those discussed in the Company's periodic reports that are filed
with and available from the Securities and Exchange Commission. All
forward-looking statements attributable to the Company or persons acting on
its behalf are expressly qualified in their entirety by these factors. Other
than as required under the securities laws, the Company does not assume a duty
to update these forward-looking statements.
For more information, please contact:

Company Contact:
Mr. Jing Xie
Secretary of Board and Vice President
Universal Travel Group
Phone: +86-755-8366-8489
Email: 06@cnutg.cn
Web: http://us.cnutg.com

Investor Relations Contact:
Mr. Crocker Coulson, President
CCG Investor Relations
Phone: +1-646-213-1915 (NY office)
Email: crocker.coulson@ccgir.com

Mr. Gary Chin
CCG Investor Relations
Phone: +1-646-213-1909
Web: http://www.ccgirasia.com

SOURCE Universal Travel Group

Universal Travel Group, Mr. Jing Xie, Secretary of Board and Vice President,
+86-755-8366-8489, 06@cnutg.cn or CCG Investor Relations, Mr. Crocker Coulson,
President, +1-646-213-1915 (NY office), crocker.coulson@ccgir.com and Mr. Gary
Chin, +1-646-213-1909, both for Universal Travel Group