Asia PR News

COLON CITY, Feb. 28 /PRNewswire-AsiaNet/ –

Yet unseen in Latin America, the Panama International Merchandise Mart
(PIMM) is under development near the Colon Free Zone as the region’s first
Wholesale Merchandise Mart. The Mart offers a unique wholesale concept because
most Latin American and Caribbean buyers cannot enter the United States due to
visa restrictions. Thanks to the Panama International Merchandise Mart, Latin
American buyers will be able to visit our mart and place orders, announced
company founder Reynald Henry Katz.

(Photo: http://www.newscom.com/cgi-bin/prnh/20070226/MXM001 )

Panama International Merchandise Mart S.A. will be built on 92 acres. The
project’s first phase will cost $50 million, and the entire project will reach
$1 billion by 2015.

The PIMM will complement the Colon Free Zone logistic operation because
merchandise sold there will be shipped either from the Colon Free Zone or from
manufacturer’s plants to their final destination. Trade at the Colon Free Zone
reached $14.8 billion in 2006, a 17.7 % increase compared to the prior year.
With plenty of warehouse space available but with show room space availability
being at its maximum capacity and some 2,500 companies waiting to operate at
the Colon Free Zone, PIMM is poised to fill the gap and become the best
alternative for Latin American buyers. PIMM is a project of national economic
interest, said Katz.

It is estimated that each showroom’s yearly trade will reach $2 million,
and with 672 showrooms, the Mart should generate $1.3 billion by 2009 and
$6 billion by 2010.

The concept is simple: Offer manufacturers from around the world the
ability to buy and operate their own permanent showroom at the PIMM near the
Colon Free Zone, a wholesale mall environment that will allow them to reach
450 million Latin American and Caribbean consumers.

With a stable government, the U.S. dollar as legal tender, inflation at
just 2.3 %, and no tax on profit because of its offshore status, Panama is
today the best place to invest in Latin America. It is considered the hub of
Latin America and the Caribbean, said Katz.

Showroom sales will range from between $1,600.00 and $2,000.00 per square
meter; construction costs are approximately $500.00 or less. Profitability is
tremendous and investor returns should be generous, said Katz.

When complete, the Mart will feature 3,000 showrooms, a convention center,
an exposition center, hotels, office parks, housing developments, and banks.
An estimated 25,000 people are expected to visit the Mart daily through 2010,
and there is still room for expansion on the 92 acres of land — The sky is
the limit, said Katz. (WWW.PANAMAMERCHANDISEMART.COM)

PIMM expects its stock to be trading soon on the Panama Stock Exchange.
Actually a private placement is taking place, and, at its initial public
offering, the stock should be traded at above $2.00 per share. Twenty-five
percent of the company will be sold on a fully diluted basis of $200 million
pre-money valuation.

SOURCE: Panama International Merchandise Mart, S.A.

CONTACT: Reynald Henry Katz, Panama International Merchandise Mart,
+011-507-66-79-3600, or Info@Panamamerchandisemart.com
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20070226/MXM001
AP Archive: http://photoarchive.ap.org
AP PhotoExpress Network: PRN1
PRN Photo Desk, photodesk@prnewswire.com
Web site: http://www.panamamerchandisemart.com