Largo Vista Group Grants Extension

Business Wire, July 21, 2005

NEWPORT BEACH, Calif. -- Largo Vista Group Ltd. (OTCBB:LGOV) announced today that, as disclosed in its press release dated July 1, 2005, the company sent to Shanghai Offshore Oil Group (HK) Co. Ltd. a written "Demand to Cure Delayed Performance" based on the failure of Shanghai Oil to deliver the first shipment of fuel oil that was due by May 18, 2005. As stated in that press release, the company gave Shanghai Oil until July 18, 2005, to cure its failure to perform per the contract. Based upon representations of Shanghai Oil regarding its ability to cure its failure to perform, the company has agreed to extend this date to Aug. 31, 2005. Should Shanghai Oil fail to do so, none of the shares of the company's common stock will be delivered to it. In addition, any action advised by the company's legal counsel will be considered at that time.

The forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including without limitation the company's ability to produce and market products and or services and other risks detailed from time to time in their company's reports with the Securities Exchange Commission.