Unlike many other property companies, API is not leveraged and has paid cash for its recent acquisitions with no bank debt. The Company plans to remain focused on its other projects, including its planned resort destination in the Philippines Islands.

About Asia Properties, Inc.: Asia Properties, Inc. was established to develop resorts and prime real estate in Southeast Asia. Asia Properties currently operates as the only listed U.S. public company focusing on S.E. Asian real estate investments. API is a Nevada corporation and trades on the Pink Sheets under the symbol "ASPZ." There are currently 39,220,112 fully diluted shares consisting of 16,672,740 free trading and 22,462,376 restricted. The transfer agent is Computershare, Inc. of Golden, Colorado.

The Asia Properties, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1733

For up to date corporate information about Asia Properties, Inc. contact Daniel McKinney, email: dmckinney@asiaprop.com or (http://www.asiaprop.com) For Investor Relations, call Dennis Burns. Tel 419-951-4842 email: denny@nvestrain.com www.nvestrain.com

Statements, which are not historical facts, are forward-looking statements. The Company, through its management makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors which could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Asia Properties, Inc.

Asia Properties, Inc.
          Daniel McKinney
            dmckinney@asiaprop.com
            http://www.asiaprop.com  
          Investor Relations
          Dennis Burns
            419-951-4842
            denny@nvestrain.com 
            www.nvestrain.com