WorldTeq Group International, Inc. Updates Plan of Exchange to Acquire Harbin Yinhai Technology Development Company Ltd.

WorldTeq Group International, Inc. Updates Plan of Exchange to
Acquire Harbin Yinhai Technology Development Company Ltd. 


ROCKVILLE, Md., Feb. 16  /PRNewswire-FirstCall/ -- WorldTeq Group International
(OTC:WTEQ) (BULLETIN BOARD: WTEQ)  announced recently in a form 8-K filed with
the SEC that it has signed a plan of exchange to acquire Harbin Yinhai
Technology Development Company Ltd.

Pursuant to and subject to the closing of the Agreement (including the
satisfaction of certain conditions prior to closing) and the transactions
therein, the shareholders of Yinhai plan to exchange all of their shares of
registered capital of Yinhai for 12,211,857 shares of common stock of WorldTeq,
or approximately 90% of WorldTeq's then outstanding shares of common stock.  In
this event and upon completion of the exchange, the registered capital of
Yinhai will be transferred to WorldTeq Group International, and Yinhai will
become a wholly owned subsidiary of WorldTeq Group International.

The Agreement contemplates that the exchange transaction will not immediately
be consummated, but will close within three days after the satisfaction or
waiver of the conditions precedent set forth in the Agreement. The closing of
the planned transaction is subject to completion of various additional acts on
the part of each of the parties.  These include, but are not limited to,
completion of satisfactory negotiations and due diligence, customary closing
conditions for a transaction of this type, as well as a condition that WorldTeq
will have consummated a 30:1 reverse stock split prior to closing in compliance
with the provisions of the corporate law of Nevada, that WorldTeq will have no
material liabilities at closing, and Yinhai's delivery of audited financial
statements satisfactory to WorldTeq (for the year ended December 31, 2004).

Jeff Lieberman, CEO of WorldTeq Group stated: "The most exciting feature of
this transaction is that the merger between Yinhai and WorldTeq Group
International does not include WorldTeq Corporation's current and future
business.  Yinhai is merging with WorldTeq Group International, the parent
company, while WorldTeq Corporation is spinning off prior to this transaction
and will be transferred to another public company.  In addition to their shares
of WorldTeq Group International, all shareholders of WorldTeq Group
International, Inc. will receive the same numbers shares in the new WorldTeq
Corporation that they had in WorldTeq Group International.  If the Company's
plans can be successfully implemented and subject to further negotiations, the
planned merger transaction will function similar to a paid dividend to the
WorldTeq Group International shareholders because, whether they hold or sell
their shares in Yinhai, they will still have their shares in WorldTeq
Corporation.  Mr. Lieberman further stated that he believes that Yinhai offers
good growth prospects if Yinhai is able to implement its business plan.  We are
hopeful that the merger will close during the first quarter 2005. Additionally,
management is discussing the future strategy of the new WorldTeq Corporation. 
If the transaction with Yinhai is completed, we are deciding where to focus our
efforts.  One possibility is a second merger with a company in the same
industry that could take advantage of our sizeable carry-loss forward."

About Yinhai

Based on the discussions that management of WorldTeq has had with Yinhai to
date, WorldTeq believes that Yinhai is a commercial printing company located in
Harbin, People's Republic of China, that, among other things, prints forms for
use by banks in the Harbin area, and it has approximately 200 employees.  The
recently completed audit for Yinhai shows that the company had sales of
$3,630,096 for 2004 compared to $2,284,991 for 2003.  Gross Profit was
$1,063,386 in 2004 versus $272,478 in 2003.  Net profit was $566,834 in 2004
compared to $29,180 in 2003.  Assets for Harbin totaled $3,949,095 in 2004
versus $2,299,245 in 2003.  Liabilities were $328,435 for 2004 versus $356,530
during 2003.  Cash position was $1,067,390 on Dec. 31, 2004 versus $258,305 for
2003.

About WorldTeq Group International

WorldTeq Group International offers a wide range of telecommunications,
merchandising and financial services with related products via independent
agents, associations, sales organizations and affiliate marketing.

THE STATEMENTS CONTAINED IN THIS PRESS RELEASE THAT ARE NOT HISTORICAL FACTS
ARE "FORWARD-LOOKING STATEMENTS" (AS THAT TERM IS DEFINED IN THE PRIVATE
SECURITIES LITIGATION REFORM ACT OF 1995), THAT CAN BE IDENTIFIED BY THE USE OF
FORWARD-LOOKING WORDS SUCH AS "BELIEVES," "EXPECTS," "MAY," "WILL," OR
"ANTICIPATES," OR THE NEGATIVE OF THESE WORDS OR OTHER VARIATIONS OF THESE
WORDS OR COMPARABLE WORDS OR DISCUSSIONS OF THE PLANNED TRANSACTIONS BETWEEN
WORLDTEQ, HARBIN YINHAI, AND ASSOCIATED PERSONS AND ENTITIES.  THE READER IS
CAUTIONED THAT THESE FORWARD-LOOKING STATEMENTS INVOLVE NUMEROUS RISKS AND
UNCERTAINTIES AND THEY ARE SUBJECT TO FUTURE UNKNOWN EVENTS AND MATTERS THAT
ARE BEYOND THE CONTROL OF THE COMPANY.  THESE INCLUDE, BUT ARE NOT LIMITED TO,
THE STATEMENTS REGARDING THE INFORMATION WORLDTEQ HAS RECEIVED REGARDING
YINHAI, YINHAI'S SALES AND PROFITS, AND FUTURE PROSPECTS TOGETHER WITH THE
TERMS AND ARRANGEMENTS OF THE PROPOSED TRANSACTION BETWEEN WORLDTEQ AND YINHAI.
 NO ASSURANCES CAN BE GIVEN THAT SUCH PREDICTIONS OR ANTICIPATED EVENTS WILL
PROVE ACCURATE OR THAT THEY WILL BE ACHIEVED.  ACTUAL EVENTS OR RESULTS MAY
DIFFER MATERIALLY EITHER BECAUSE ONE OR MORE PREDICTIONS PROVE TO BE ERRONEOUS
OR BECAUSE OF OTHER FACTORS AND VARIABLES BEYOND THE COMPANY'S CONTROL.  THE
COMPANY'S MANAGEMENT HAS CONDUCTED NEGOTIATIONS WITH YINHAI TO FURTHER THE
PLANNED TRANSACTIONS BUT UNTIL THE ANTICIPATED TRANSACTIONS ARE COMPLETED, THE
RISKS ASSOCIATED WITH THESE PROPOSED TRANSACTIONS WILL REMAIN AND SOME FACTORS
THAT IMPACT THESE RISKS WILL BE BEYOND THE COMPANY'S CONTROL. AS A RESULT,
ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THE FUTURE RESULTS INDICATED,
EXPRESSED, OR IMPLIED IN SUCH FORWARD-LOOKING STATEMENTS.

Contact Information: WorldTeq Group International Inc., Jeff Lieberman,
888-263-7776, 413-513-1260 fax,  

DATASOURCE: WorldTeq Group International Inc.



CONTACT:  Jeff Lieberman, WorldTeq Group International Inc.,

[phone], [phone] fax, 

Copyright