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WestPark Capital Closes Third WRASP Deal February 20 , 2008 LOS ANGELES, CA – WestPark Capital, Inc. announced the closing of a WRASPSM transaction for Asia Time Corporation (AMEX: TYM). A WRASP is a unique transaction process where a private company becomes publicly traded through a reverse merger, with its common stock trading directly on the American Stock Exchange or another senior exchange. A WRASP involves a comprehensive set of interrelated transactions managed by WestPark Capital, a FINRA registered broker-dealer. Asia Time's transaction represents the third WRASP completed by WestPark Capital. "With our third WRASP, we have further demonstrated a new means through which profitable growth companies are able to list on a reputable exchange and raise capital, as well as promote investor and regulatory visibility, thereby supporting their business growth opportunities. As a result, we are seeing an increasing number of clients that want to undertake this process," stated Richard Rappaport, CEO of WestPark Capital. "WestPark's WRASP blends elements of an initial public offering and a reverse takeover, combining the cost-effectiveness and timeliness of an RTO, while retaining the increased market awareness and visibility of an IPO," added Kevin DePrimio, Executive Vice President. WestPark Capital completed its first two WRASP transactions in June and September of 2007, respectively, for China Shenghuo Pharmaceutical, Inc. (AMEX: KUN) and China Architectural Engineering, Inc. (AMEX: RCH). WestPark Capital, Inc. was the sole underwriter for the offering. The registration statement related to these securities has been declared effective by the Securities and Exchange Commission. This news release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering is made only by prospectus. A copy of the final prospectus may be obtained from WestPark Capital, Inc., 1900 Avenue of the Stars, Suite 310, Los Angeles, CA 90067, by phone at (310) 843-9300, facsimile (310) 843-9304, or email jstern@wpcapital.com. ABOUT WESTPARK CAPITAL, INC. WestPark Capital, Inc., headquartered in Los Angeles, California, is a leading full-service investment bank dedicated to providing innovative, professional financial services to emerging growth companies. WestPark Capital, Inc. provides a wide range of services for both private and public companies, as well as to individuals and institutional investors worldwide. WestPark Capital, Inc. is a leading financial advisor for emerging growth companies. We offer our clients a comprehensive range of services including WRASPs, initial public offerings, reverse mergers, follow-on offerings and private placements, and financial advisory services.
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