Intra-Asia Entertainment Corporation Enters Digital Television Industry

Intra-Asia Entertainment Corporation Enters Digital Television Industry

Intra-Asia Entertainment (HK) Co., Ltd. Establishes Joint Venture in Hubei Province, Which Has Population of 63 Million and More Than 5.7 Million Cable Television Subscribers

MONTEREY PARK, Calif., July 5 /PRNewswire-FirstCall/ -- Intra-Asia Entertainment Corporation (BULLETIN BOARD: IRAE) ("the Company") today announced that its wholly-owned subsidiary, Intra-Asia Entertainment (HK) Co., Ltd., will pursue equity investments and operating roles in the digital television industry in China.

Since its inception in May 2005, the Hong Kong subsidiary has invested 83 million Yuan (US$ 10 million) to establish a joint venture company (JVC) with Hubei Provincial (Chu Sky) Broadcasting and Television Network Co., Ltd. The joint venture is committed to the digital transformation of the cable television broadcasting in Hubei Province, which has a population of approximately 63 million and currently has a cable television subscriber base of over 5.7 million. Industry experts project that the number of cable television subscribers in the province will exceed 18 million by the year 2015.

Intra-Asia Entertainment (HK) will be responsible for all of the businesses previously operated by Hubei Provincial, including the transmission of digital cable television programs, the consolidation of programming, and development of the JVC.

Intra-Asia Entertainment (HK) will gradually expand into mobile terrestrial and satellite digital television as a complement to its digital cable television activities. At the present time, management is in the process of researching relevant industries and has entered into negotiations with a television broadcasting network operating Shandong Province (population = 96 million) and other provinces.

"Digitalization is an inevitable trend in global television broadcasting, and our subsidiary is developing cooperative relationships with provincial departments of broadcasting and television in several regions throughout China," stated Joseph Visconti, CEO of Intra-Asia Entertainment Corporation. "In 2003, as a first step in the digital transformation of the television broadcasting industry, The State Administration of Radio, Film and Television (SARFT) tentatively established a new cable television infrastructure comprised of digital, transmission, service and supervisory platforms. The Chinese government will require all Chinese television programming to be broadcast digitally by the year 2015, and our subsidiary has exclusive rights for digital television operations, and as a supplier of set-top terminal boxes, in a number of provinces."

"We plan to invest in platform resources and reception terminals in order to gain 'first mover' advantage in key markets," continued Visconti. "We believe Intra-Asia's operational skills, access to capital, and in-depth research in the digital television industry have positioned our Company to effectively respond to growing pressure for the advancement of digital transformation, the integration of local network resources, and the realization of the potential for digital television at the provincial level."

About Intra-Asia Entertainment Corporation

Intra-Asia Entertainment Corporation operates the eighth largest amusement park in China and is pursuing investment and operational opportunities in digital television in a number of Chinese provinces. 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 12 million in the year ended December 31, 2004.

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.

For more information please contact

Joseph Visconti, Chief Executive Officer at (561) 832-8878

Source: Intra-Asia Entertainment Corporation

CONTACT: Joseph Visconti, Chief Executive Officer of Intra-Asia Entertainment Corporation, +1-561-832-8878

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