Intra-Asia Entertainment Reports Strong Customer Reception to New ‘Water Palace’

270,000 Sq. Ft. Indoor Water Park Reduces Seasonality of Business at Weifang Fuhua Amusement Park

MONTEREY PARK, Calif., April 11 /PRNewswire-FirstCall/ — Intra-Asia Entertainment Corporation (BULLETIN BOARD: IRAE) (“the Company”) today announced that customers have responded enthusiastically to the new Water Palace, a 270-000 indoor water park that opened at Weifang Fuhua Amusement Park in February 2005.

Intra-Asia Entertainment Corporation owns an 85% interest in and manages Weifang Fuhua Amusement Park, which is located in the City of Weifang in China’s eastern Shandong Province. Weifang Fuhua Amusement Park is the largest amusement park in Shandong Province, which has a population of approximately 90 million residents. The park has been profitable each year since its opening in April 1994.

The Water Palace resembles a large indoor beach that is divided into four sections: a wave pool, a playground for children, a water activities area and a resort area. It is open year-round and is fully climate-controlled, with an air temperature of approximately 87 degrees F and a water temperature of approximately 82 degrees F. The Water Palace, which was designed by Shanghai Architectural Institute and Shandong Architectural Institute, replaces a smaller water park that operated only four months per year.

Attractions of the Water Palace include:

* A children’s water area that includes a playing pool and fountains;

* A 71,000 sq. ft. pool, with man-made waves for surfing, and a
30,000 sq. ft. sandy beach area;

* An artificial mountain and waterfall area with a large stage for
performances and other shows;

* Tropical plants and scenery areas with natural and man-made plants,
a stone bridge, trees, waterfalls, streams, fountains, a waterwheel,
lovers’ valley and stone forest;

* A leisure area that includes a water bar, beauty salon, lovers’ bar,
water massage area, and teahouse;

* An amusement area with a multi-functional hall, game room, etc.;

* A food court that includes a seafood restaurant, Chinese and Western
fast food, a coffee bar, etc.;

* A show area that features traditional island native performances,
water ballet, swimming costume exhibitions, disco dancing, etc.; and

* A service area that includes a shopping center, fitness gym, training
program, etc.

“We have been very pleased with customer response to the Water Palace since its opening in February,” stated Joseph Visconti, CEO of Intra-Asia Entertainment Corporation. “Participation in activities within the man-made all weather dome has been strong, and we are confident that the Water Palace will increase overall attendance and reduce the seasonality of business at Fuhua Amusement Park. The Water Palace will play a key role in a multi-stage program that is underway to increase attendance and raise per-capita spending by our customers.”

About Intra-Asia Entertainment Corporation

Intra-Asia Entertainment Corporation, which operates the eighth largest amusement park in China, intends to bring a Western flair to the Chinese amusement park industry. The Company manages the Weifang Fuhua Amusement Park in China’s eastern Shandong Province (about 270 miles from Beijing). The park’s nineteen (19) rides include the country’s longest double-looping roller coaster, a constant-motion Ferris wheel, a water ride, and a balloon drop. Attendance at the park, which has been profitable since its opening in 1994, totaled approximately 10,621,783 in the year ended December 31, 2003.

The Company is headquartered in Monterey Park, CA and maintains offices in West Palm Beach, FL in the United States. Its common stock trades on the OTC Bulletin Board under the symbol “IRAE”.

This press release contains certain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Factors that could cause or contribute to such differences include, but are not limited to, market acceptance of products, services and technologies; changes in local currency valuations; the Company’s ability to continue to secure sources of financing; and other factors as described in the Company’s filings with Securities and Exchange Commission. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.

Related Articles