Asia PR News

WASHINGTON, April 27 /PRNewswire-AsiaNet/ –

Zamiin Uud Planned Development to be First Commercial Gateway to Northeast
Asia and International Business Hub

(NOTE: Satellite FEED - b-roll of highlights, interviews, media moment
available - details below)

In a historic first for international trade to Northeast Asia, Mongolian
government and Winwheel Bullion officials today announced the creation of the
Zamiin Uud Free Economic Zone, a new international free trade zone,
strengthening the position of Mongolia and Northeast Asia in the global
economy. This historic announcement was made at the Northeast Asia Conference
by Minister of Industry and Trade B. Jargalsaikhan, Governor of the Central
Bank of Mongolia O. Chuluunbat, and Minister of Finance N. Bayartsaikhan. The
announcement marks an important milestone as Mongolia continues its transition
to a free market economy. A b-roll for television news stations will be
uplinked:

SATELLITE FEEDS: April 27, 2006 @ 15:30-15:45 ET, April 28, 2006 @
06:00-06:15 ET

DOMESTIC UNITED STATES TRANSPONDER COORDINATES:

SBS 6 (ku), Transp. 4
Orbital Slot: 74 West
Uplink Frequency: 14098. 0 H
Downlink Frequency: 11798. 0 V

INTERNATIONAL TRANSPONDER COORDINATES:

Intelsat 902 @ 62 degrees, Transp. 38/38 Middle, Ch. 3
Uplink frequency: 6403.83 Mhz LHCD
Downlink frequency: 4178.83 Mhz RHCD
FEC: 3/4
Symbol Rate: 5.632

Located 350 miles northwest of Beijing, China on the southeast Mongolian
border, the Zamiin Uud (pronounced ZA-meen OOD) Free Economic Zone is the
result of an unprecedented partnership between the Mongolian government and
the United States-based Winwheel Bullion corporation. The Mongolian
government will provide 104,000 acres of land for a master-planned commercial
center with development led by Winwheel Bullion. Phase I of Zamiin Uud will
be a 2,224 acre development that will include construction of Odonchimed
International Airport and a base infrastructure of hotels, casino resorts, a
convention center, shopping complexes, duty free shops, office and commercial
buildings, banks and financial institutions, industrial complexes, sports
stadium, theme park, and golf courses. In addition, residential and community
infrastructure will include housing, hospitals, public parks, a retirement
community and other supplemental structures. Construction of the first phase
of Zamiin Uud is scheduled to begin summer 2006.

A key component in the creation of this international free trade zone will
be the construction of Odonchimed International Airport. Winwheel Bullion has
entered into a joint venture with TEC Constructors & Engineers to construct
the international airport. TEC Constructors & Engineers is an multinational
company that specializes in large-scale real estate development, project
management and general contracting. Past projects include Los Angeles
International Airport, John Wayne International Airport, San Diego
International Airport, the $1.5 billion Walt Disney California Adventure
Resort, and recently, the Indianapolis Colts Football Stadium. For additional
power in Zamiin Uud, Winwheel Bullion and Bronco Energy entered into a joint
venture. Bronco’s Preferred Service Provides in the power service of Zamiin
Uud will be URS Corp. and Nexant Corp.

The Zamiin Uud Free Economic Zone is the latest step in Mongolia’s
ascension in the world economy. Since the early 1990s, Mongolia has
purposefully taken steps to embrace a free market economy and has liberalized
state-controlled prices and tariffs, privatized state-owned enterprises and
established a two-tier banking system. In 2004, a joint statement between
U.S. President Bush and Mongolian President Bagabandi declared a new era of
cooperation and a comprehensive partnership between the two democratic
countries based on shared values and common strategic interests. Mongolia
joined the World Trade Organization in January 1997 and has enjoyed a decade
of positive economic growth and single-digit inflation.

To ensure and assist in the transition process to a free market economy, a
separate non-political body will be formed to administer economic policies in
the Zamiin Uud Free Economic Zone. The Zamiin Uud Economic Development
Authority (ZUEDA) will be mutually developed by the Mongolian Government and
private commercial entities. Members will make up the ZUEDA Task Force who
will initiate policies such as transparent and non-discriminatory
administrative norms and legal standards in accordance with international
principles. ZUEDA policy will be designed to create a stable and predictable
climate for commerce, and accommodate international market forces that require
high standards to protect foreign investment and investors with specific
competition policies.

In English, Zamiin Uud means gateway, and true to its name, the Zamiin Uud
Free Economic Zone functions as a gateway to Northeast Asia and establishes an
international regional headquarters in a stable environment. Currently, there
are already 70 commercial and service providers in Zamiin Uud, and
approximately 70% of Mongolian foreign trade passes through the Zamiin Uud
port. There is no excise, added value tax, or import custom duty levied on
items imported to Zamiin Uud. Investment in the construction of storage
facilities, cargo terminals and hotels in Zamiin Uud is exempt from income tax
for an initial five-year term, then granted a 50% income tax concession for
three subsequent years.

Technological infrastructure currently exists in the form of super
high-speed fiber-optic cable and VSAT systems, cable TV, FM radio stations,
mobile telecommunications, and internet and email access. An international
road network connecting Asia and Europe intersects Zamiin Uud, with a new
AH-3 standard highway set to be completed by 2008. Combined with the new
development, Zamiin Uud is poised to be a hub of international commerce.

This day was chosen to announce this exciting free trade venture because
it commemorates the 1206 coronation of Chinggis (Genghis) Khaan as the King of
Kings, when the Mongolian Empire was at its apex. Chinggis Khaan was a 13th
century Mongol military and political genius who ruled the world’s largest
empire that once stretched from Korea to Hungary. While infamous for his
exploits on the battlefield, Chinggis Khaan was also a skilled leader,
politician and administrator who created groundbreaking trade policies that
nurtured free pan-Asian commerce.

Today, Mongolia maintains strong relations with all North and South East
Asian countries. It has reasonable proximity to such major centers as
Beijing, Nanjing, Shanghai, Seoul, Tokyo and Osaka. Since the early 1990s,
Mongolia has purposefully taken steps to embrace a free market economy and has
liberalized state-controlled prices and tariffs, privatized state-owned
enterprises and established a two-tier banking system.

CONTACTS:
Investors: Media:
Jonathan J. Greystone, Esq. Kurt Ouchida
Spector Gadon & Rosen, P.C. All Write Business Communications
215.241.8927, 702.300-5756,
jgreystone@lawsgr.com kurt@mediaunderground.com

SOURCE: Winwheel Bullion

CONTACT: Investors,
Jonathan J. Greystone, Esq. of Spector Gadon & Rosen, P.C.,
+1-215-241-8927,
jgreystone@lawsgr.com; or

Kurt Ouchida of All Write Business Communications,
+1-702-300-5756, kurt@mediaunderground.com,
both for Winwheel Bullion