Universal Travel Group Announces Termination of Financing Agreement

SHENZHEN, China--(Business Wire)--
Universal Travel Group Inc. (OTCBB: UTVG) ("Universal Travel
Group" or the "Company"), a fast growing travel services provider in
China specializing in online and customer representative services to
the travel service industry offering packaged tours, air ticketing,
hotel reservation and air cargo transportation, today announced that
it has terminated its agreement with three Chinese financial
institutions to receive $3.5 million in financing in exchange for
1,301,481 shares of Universal Travel Group common stock (the
"Agreement").

The Agreement, which was announced by the Company on 02/07/2008,
has been terminated after the three financial institutions failed to
pay the second and third installments of $1.4 million and $1.5 million
respectively. The first installment was received by the Company on
02/07/2008 upon execution of the Agreement and in exchange of 222,220
shares of the Company's common stock. The remaining 1,079,261 shares
which were issued in anticipation of the satisfactory execution of the
Agreement are still in the control of the Company and will be taken
back as Treasury stocks.

"The termination of the Agreement will not negatively impact our
development. We remain very confident in our ability to successfully
execute our growth strategy because of our continuing profitability
and cash flow" commented Ms. Jiang Jiangping, Chairwoman and CEO of
Universal Travel Group.

About Universal Travel Group

Universal Travel Group, a fast growing travel services provider in
China, is engaged in providing reservation, booking, and domestic and
international travel and tourism services throughout China 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, booking services for air tickets and hotels
as well as air cargo transportation. Universal Travel Group has
completed the acquisitions of Speedy Dragon, specializing in air cargo
transportation; Xi'an Golden Net, specializing in travel packaged
tours; and Shanghai LanBao, specializing in hotel reservation. In
October, UTVG completed the acquisition of Foshan Overseas
International, a China-based company that handles domestic and
international travel inquiries as well as corporate travel, offering
specialized packages that include national and international air
ticket booking, hotel reservations, conference center reservations and
rental cars. Universal Travel's goal is to become China's leading
travel services provider in all fields of the tourism industry
including the aviation, cargo, hotel booking and tour packaging
segments. For more information, visit http://us.cnutg.com.

Forward Looking Information

Universal Travel Group ("we" or the "Company") desires to take
advantage of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. This report contains a number of
forward-looking statements that reflect management's current views and
expectations with respect to our business, strategies, future results
and events and financial performance. All statements made in this
press release other than statements of historical fact, including
statements that address operating performance, events or developments
that management expects or anticipates will or may occur in the
future, including statements related to future cash flows, revenues,
profitability, adequacy of funds from operations, statements
expressing general optimism about future operating results and
non-historical information, are forward-looking statements. In
particular, the words "believe," "expect," "intend," " anticipate,"
"estimate," "may," "will," variations of such words and similar
expressions identify forward-looking statements, but are not the
exclusive means of identifying such statements and their absence does
not mean that a statement is not forward-looking. These
forward-looking statements are subject to certain risks and
uncertainties, including those discussed below.

Our actual results, performance or achievements could differ
materially from historical results as well as those expressed in,
anticipated or implied by the forward-looking statements contained
herein. We do not undertake any obligation to revise these
forward-looking statements to reflect any future events or
circumstances. Readers should not place undue reliance on
forward-looking statements, which are based on management's current
expectations and projections about future events, are not guarantees
of future performance, are subject to risks, uncertainties and
assumptions (including those described below) and apply only as of the
date of this report. Our actual results, performance or achievements
could differ materially from the results expressed in, or implied by,
the forward-looking statements contained herein. Factors that could
cause or contribute to such differences include, but are not limited
to, those discussed in "--Risk Factors" below as well as those
discussed elsewhere in this report, and the risks discussed in our
press releases and other communications to shareholders issued by us
from time to time, which attempt to advise interested parties of the
risks and factors that may affect our business. We undertake no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.

Universal Travel Group Inc.
Jing Xie, 86-755-83668489
Secretary of Board & Vice President
06@cnutg.cn
or
Christensen
Kathy Li, 1 212-618-1978
kli@christensenir.com

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