Corporate Update

RNS Number:6051I
London Asia Capital PLC
07 September 2006


7 September 2006


                            London Asia Capital PLC.
                        Investee company floats on PLUS
            Corporate Finance Adviser to two additional PLUS floats


London Asia Capital plc ('London Asia'), the Greater China focused investment
and merchant banking group, announces that its investee company, China Mobilenet
Ltd ("Mobilenet"), has today begun trading on the UK's PLUS Stock Market.


MobileNet is an SMS content, software and technical services provider focusing
on the corporate sector in China. London Asia has a 10% stake, and acted as
corporate adviser for the PLUS listing.

China Biofoods Ltd ("Biofoods") shares have been successfully admitted to
trading on PLUS markets today at 175p a share, giving it a market capitalisation
of #12.5 million. Biofoods specialises in the production of highly purified herb
extract products, which are then used to produce traditional Chinese medicine,
and as ingredients in functional foods.


This morning's listings follow the successful listing on PLUS yesterday of China
New Energy Group ("CNE"). All three companies were advised for their listing and
fund raising by London Asia. CNE ended its first days trading with a market
capitalization of over #35 million, making it one of the top 10 companies on
PLUS by market capitalization.


Simon Littlewood, Chief Executive, London Asia, said: "We have now listed nine
companies on PLUS. We continue to see PLUS as a good platform for fast growing
Chinese businesses to raise capital at a relatively low cost. The listing also
enables them to use their shares to make acquisitions both in China and
overseas, reducing the cash required to expand the business via acquisition. As
well as generating both one-off and recurring corporate finance fees for us, the
listing also provides our shareholders with an indication of the value inherent
in our portfolio of investments."



For further information please visit www.londonasia.com or contact:

Stephen Lucas                         John West/Matt Ridsdale
London Asia                           Tavistock Communications
Tel: [phone]                    Tel: [phone]



About China Mobilenet

China MobileNet, registered in Jersey, is the holding company of SPgreen
Technology (Beijing) Co., Ltd ("SPgreen") incorporated in China. SPgreen is an
SMS content, software and technical services provider focusing on the corporate
sector in China with an exclusive 25 year contract to provide services to
Beijing Biaoqi Century Data Communication Technology Co., Ltd ("Biaoqi"), a
nationwide licensed SMS value-added service operator.


The market for SMS value-added services is expanding rapidly in China. Biaoqi
has built up an extensive nationwide infrastructure and uses SPgreen's
proprietary "e-message" software system, an SMS software platform specially
designed for business-to-business and business-to-customers interactions. The
Company provides its services to a range of industries including logistics,
government, education and media. Its clients include China Railway Express,
China Ministry of Land and Resources, China Environmental and Culture Promotion
Foundation and Beijing TV.



About China Biofoods

Biofoods is based in Xuchang, Henan Province, the centre for farming traditional
Chinese medical herbs. It specialises in the production of highly purified herb
extract products, which are then used to produce traditional Chinese medicine,
and as ingredients in functional foods.


The market for "Functional Foods" is expanding rapidly worldwide, especially in
China. "Functional Foods" are foods or dietary components that may provide a
health benefit beyond their basic nutritional value. Such products are aimed at
a wide variety of markets, from those with poor diets and limited resources
seeking additional nutritional content in their diet, to those whose lifestyles
and levels of stress require them to eat more healthy food, to the aged who are
seeking traditional cures to age related ailments.


Biofoods' core products are highly purified linolenic acids, Reshi mushroom
spore oil, and deodorized garlic oil. Linolenic acid, also known as Vitamin F,
is an essential fatty acid which is not produced by the body, and has been used
to improve hair and skin, reduce blood pressure, help prevent arthritis, lower
cholesterol and triglycerides, and reduce the risk of blood clots. Reshi
mushroom spore oil is broadly used in the health food industry as a supplement
and intermediate ingredient.


For additional information, please visit the company's web page
www.chinabiofoods.com.cn


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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