TAITRA Gains Operating Rights for Nanking Exhibition Hall

Taipei, June 14, 2006 (CENS)--The Taiwan External Trade Development Council (TAITRA), a government-backed trade promoter, recently announced that it had obtained the rights to operate the Nanking Exhibition Hall, which is slated to open in June 2008, for 10 years.

TAITRA indicated that the Nanking Exhibition Hall could make up for the current shortage of exhibition space in Taipei because the area of the projected hall is about twice the entire floor space of the Taipei World Trade Center (TWTC). The projected hall will have two decks with a total of 2,626 standard booths, in addition to 10 conference rooms.

The Nankang hall will be mainly used as an exhibition site for such large international industrial expos as computer shows, bicycle shows, auto/motorcycle parts and accessories shows, machinery and packaging shows, and plastic and rubber machinery shows. In addition, it will furnish an ideal setting for many kinds of indoor activities, and can rent floor space to entertainment business operators participating in such activities. The existing TWTC facility will then focus on smaller international shows or domestic exhibitions, stated Su Cherng-chuan, director of TAITRA' s Taipei International Exhibition Center.

During the 10-year period it has acquired operating rights for, TAITRA has promised to pay a total of NT$2.4 billion (US$70.59 million at US$1 = NT$34) in royalties to the government, which is estimated to be about half of the total income the hall will generate during the period. TAITRA believes that it will be very likely to suffer losses for operating the hall, particularly in the beginning years of the contract, yet it is still enthusiastic about taking on the challenge.