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Prestige Procurement Asia Agrees to Purchase SiteWorks Stock From the Market and Manage Marketing and Investor Relations in Asian Markets MIAMI, Aug. 10, 2005 (PRIMEZONE) -- SiteWorks Building and Development Co. (OTCBB:SWKJ), announced today that the company has the agreed to appoint Prestige Procurement and Networking Services (Prestige) as its representative in Asia. As a result of the discussion held a week prior to the signing of the service agreement yesterday enabling Prestige to operate on behalf of SWKJ throughout Asia, shareholders will be entitled to join the Prestige Asia Card program and the Investor Relations program by visiting www.prestigeasia.com.
SWKJ CEO Mike Nurse notes, "We have found that real estate and construction projects, especially large projects where a high degree of professionalism is required, are under increasing pressure to maintain Western standards of quality. Asia's rapid growth and the drive for Western-style standards has great significance to us as an entity. Consequently, we will be directing our efforts to the Chinese markets also, particularly southern China. This will represent a significant opportunity for the company, since budget and timeline management are still major concerns for the increasing number of foreign real estate investors in Asia. SiteWorks can supply the management and technology to deliver major projects on time and with quality."
Prestige has further demonstrated its commitment to SiteWorks by agreeing to purchase all outstanding shares in the float. Prestige has already bought 8,500,000 shares on the open market. Their primary goal is to continue buying shares on the open market until they capture as many shares as possible remaining within the float. Their secondary goal will be to then convert their position into certificate form to remove them out of "street name" as shares held by CEDE&CO to not allow them to be borrowed against for shorting.
Prestige is expected to manage SWKJ expansion in Asia via its strong networks throughout the region through www.prestigetycoon.com. Sutida Suwunnavid, the President of Prestige, adds, "The next step will be scheduling a meeting to discuss the work scope and present SWKJ to the predetermined local projects within the next several months."
Kornchaya Manchanda, Market Analysis, comments, "The way we see it is that the creativity combined with SWKJ efficiency can also lead SWKJ to act as a developer in government projects and major companies in this region and it is our job to take them there."
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