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FOR IMMEDIATE RELEASE:

Phoenix Commercial Ventures Attends 4th Pyongyang Autumn International Trade Fair

Pyongyang/London, October 21st 2008

Phoenix Commercial Ventures Ltd attended the 4th Pyongyang Autumn International Trade Fair in the DPRK last month.

The trade fair ran from 22nd to 25th September and attracted over 150 businesses, their representatives, ambassadors and delegates from countries including the DPRK, China, Taiwan, Singapore, Australia, Indonesia, Britain, Sweden, Denmark, Ireland, Switzerland, Germany, Italy, Hong Kong, Russia, France and the Netherlands.

The displays included machine tools, electronics, vehicles, medicines, petrochemical products, consumer goods and foodstuffs.


The European Business Association Stand


Representatives from Phoenix Commercial Ventures attended the fair and manned part of the stand belonging to the European Business Association in Pyongyang, which was representing member companies, as well as non-members exhibiting for the first time. Along with Phoenix representatives were members of the management team from Sinji JVC and Hana Electronics JVC (joint venture companies formed with Phoenix) and Daedong Credit Bank - Phoenix's banking partner in the DPRK - (since 2000 Daedong Credit Bank has been 70% owned and managed by a company run by professional fund managers - the remaining 30% is held by Korea Daesong Bank).

Nigel Cowie (who is CEO of Phoenix, General Manager and CEO of Daedong Credit Bank and was elected President of the European Business Association earlier this year) said:

"The trade fair is a very vibrant event, as those who attend it know. Here you can find some of the best of the local Korean companies - and there are some very good ones - equally, we had the chance to showcase some of the best joint venture companies.

Phoenix Commercial Ventures, and its joint venture companies Hana Electronics and Sinji, as well as Daedong Credit Bank, are well established businesses which have outstanding reputations because they are well run and have first class people working for them."


 
For additional information, contact Phoenix Commercial Ventures Ltd.

About Phoenix Commercial Ventures Ltd

Phoenix Commercial Ventures Ltd offers investors business and investment opportunities in the Democratic People's Republic of Korea (DPRK), enabling them to take advantage of the economic reforms that are taking place there.

Phoenix Commercial Ventures Ltd maintains an office in Pyongyang, almost the only European company to do so, and operates with the following specific aims:

● Identify commercially viable investment projects in the DPRK, on a case by case basis

● Identify reliable local partners for all forms of business in the DPRK, either trade or investment

● Seek overseas investment sources for such projects

● Minimise the risk in such projects, by taking responsibility for supervision of the local set-up procedures and management of the projects

CONTACT INFORMATION:

Phoenix Commercial Ventures Ltd office address in Pyongyang is:

Phoenix Commercial Ventures Limited
No. 901
International House of Culture
Ryonhwa-dong
Central District
Pyongyang
Democratic People's Republic of Korea

Phone

Switchboard  +850 2 381 2228/9 ext 401
Direct line     +850 2 381 4866
Mobile          +850 193 801 8400*
*Note, the mobile number may not be obtainable from certain countries (eg UK and Hong Kong).

London Contact

Direct line     +44 782 822 5650

Corporate Website www.pcvltd.com

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