China Premium Lifestyle Enterprise, the Ferrari and Maserati importer, distributor and dealer in Hong Kong and dealer in China has reported sales for 2007 up by a half driven by demand for Italian models.

China Premium Lifestyle Enterprise, Inc. has reported its 2007 fiscal year end results for the year ended December 31, 2007.

For the year ended December 31, 2007, the Company reported net sales increased 49% to approximately $106.5 million compared to $71.5 million for the same year ended December 31, 2006. For the same period, the Company reported a net profit increase of 47% to approximately $822,000 or approximately $.03 in diluted earnings per share, compared to $559,000 or $.02 in diluted earnings per share.

The company attributed the growth in sales to its new and used vehicle trading segment, with significant increases in deliveries of Ferrari's 8- cylinder models, the F430 and F430 Spider, together with the sell out performance of the new Ferrari 12-cylinder, the 599 GTB Fiorano. The launch of the Maserati GranTurismo also fuelled the growth of sales in 2007.

Vehicle sales were approximately $100 million for 2007 compared to approximately $65.6 million in the similar period of 2006. Sales of parts and service increased in 2007 to approximately $6.5 million as compared to approximately $5.9 million for the preceding period. The increase in parts and service sales was attributed to significant growth of both Ferrari and Maserati customers during the last few years, now requiring parts and service for regular maintenance.

Richard Lee, Chairman and CEO, stated: "I am delighted to report our record fiscal year end 2007 results. We continue to show high growth in our sales of new models and current cars as well as the beginning of growth in parts sales and service as a consequence. This strong foundation continues to enable us to incorporate other high end brands into our platform as we continue to develop China Premium Lifestyle Enterprise Inc. We are very optimistic about 2008, having recently added additional significant brands like Richmond clothing and AgustaWestland helicopters to our growing portfolio of ultra-luxury offerings."

China Premium Lifestyle Enterprise, 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, which it markets to its already established base of wealthy Chinese individuals.