New York Global Group Managing Director Benjamin Wey Named Senior Economic Advisor to China's Third Largest City - Tianjin

Business Wire, July 10, 2006

NEW YORK -- New York Global Group, a full-service global investment banking and strategic consulting firm with almost a decade of experience and expertise in bridging the cultural and regulatory gaps between the U.S. and Chinese markets, today announced that Managing Director Benjamin Wey was named Senior Economic Advisor to the City of Tianjin, China, a city of over 12 million people and one of China's leading industrial cities.

Mr. Wey was appointed Senior Economic Advisor to advise the Mayor of Tianjin and other government officials on the city's economic policies and on the development of the Tianjin Free Trade Zone.

Located approximately 80 miles east of Beijing, China's capital, Tianjin is one of the four biggest municipalities of China. Tianjin is also the economic center of the Bohai Sea rim. The new coastal area, consisting of Tianjin Port, Tianjin Economic and Technology Development Area and Tianjin Bonded area, has attracted many global businesses like Motorola, Toyota, Samsung, GM and Novo Nordisk, among others. In the past decade, GDP in Tianjin has grown by 12.5 percent annually and Tianjin is one of the fastest growing economic zones in China. The former Chairman of China's central bank is the Mayor of Tianjin.

The City of Tianjin recognizes the outstanding services Mr. Wey has provided to the growth of the private sector companies in China.

Benjamin Wey commented, "It is with great enthusiasm that I accept the Senior Economic Advisor position to the City of Tianjin, one of China's largest and fastest growing cities. I look forward to working with the Mayor and other top government officials in helping to shape the future of China and the City of Tianjin and their economic policy for years to come.

Mr. Wey was recently named Executive Director of the Foreign Investment Committee of Investment Association of China and Deputy Director of the China Mergers and Acquisitions Association.

Mr. Benjamin Wey is the Managing Director of Asia business development for New York Global Group. Mr. Wey possesses extensive experience and expertise as an authority on China. He is regularly invited as a guest speaker at conferences related to China and international capital markets. As early as 1994, he advised Eaton Corporation, a Fortune 500 company, on the firm's first successful joint venture with a Chinese state-owned company which has since become the market leader in China's hydraulic motor industry.

Mr. Wey is one of the founding executives of two investment banking firms and has acted as an advisor to a diverse range of public and private institutions worldwide including the Bank of China and the People's Bank of China. A Chinese American, he is fluent in Mandarin Chinese.

About New York Global Group

New York Global Group (NYGG) is a full-service global investment banking and strategic consulting firm with almost a decade of experience and expertise in bridging the cultural and regulatory gaps between the U.S. and Chinese markets. NYGG provides investment banking and institutional equity research services in the U.S. through its subsidiary New York Global Securities, Inc. (NYGS). In China, NYGG provides investment banking, research, due diligence and market entry related services through its Beijing subsidiary New York Global Capital Investment Consulting, Ltd. (NYGC China), which has one of the largest due diligence staff among all U.S. firms doing business in China. NYGG has strategic partnerships with the Central Bank of China and AIG China, among other major financial institutions in the region. For more information visit: www.nyggroup.com