FT. LAUDERDALE, Fla., July 16, 2004 (PRIMEZONE) -- China Direct Trading Corporation's (OTCBB:CHDT) wholly-owned subsidiary Souvenir Direct Inc. forecasts Revenues of $406,000 up 120% from last years second quarter and sales for the first half of the year are up 175%. The company's income for the second quarter rose 46% from the second quarter in 2003. For the first six months of this year the company's income is up 64%. The Company continues to increase sales through re-orders from it's distributor's located in 25 countries along with new customer sales. The company sold products to a total of 20 new customers in 6 countries. New customers found the company at the Hong Kong trade show in April, Search engines, Shareholders, and through direct contact after seeing the Company's press releases. Souvenir Direct is also expecting a record third quarter as the company has $900,000 in orders in production and the company is booking orders for it's hot new electronic Christmas ornaments which sell for $10 and $15 dollars a unit. The Christmas item can be seen on the company's homepage at www.chinadirecttradingco.com
"I am optimistic about sales growth for the rest of fiscal year 2004 due to the continuing increase in 2004 of our customer base," said Howard Ullman, CEO of China Direct Trading Corp. and President of Souvenir Direct.
CHDT is a global trading company engaged in product development, manufacturing, distribution, logistics, and product placement into mass retail. The company holds patents and sells products to importers, theme parks and directs to retail worldwide. By establishing relationships with various governmental agencies, public and private institutions, and private industries in China the Company aims to play a key role in assisting US companies that desire to move production or investments into China as well as helping Chinese firms grow through US distribution and financial support. In addition, the company acquires and invests in innovative products, services, or technology companies.
FORWARD-LOOKING STATEMENTS
This press release includes "forward-looking statements" within the meaning of the federal securities laws. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Many factors are beyond The Company's and its subsidiaries' control. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's existing and future filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.