SpacePortEdutainment signed a Joint Venture Agreement with Liaoning Rexing Enterprises Group Company Limited to build SpacePortShenyang, a US$250mio., 20 hectare, space theme park in Shenyang, China, to cater for 2.5mio. visitors per annum and is due to open in time for the 2008 Beijing Olympic Games.

SpacePortShenyang is the first of several SpacePorts that are in the pipeline.

The SpacePortShenyang Dutch Government-funded Feasibility Study will be carried out by an international consortium with a June 2006 completion due date.

“A Creative Charrette will be held in the Netherlands mid February under the guidance of BRC Imagination Arts to drive out the vision of SpacePortShenyang including the theme park visualization and visitor attraction and content conceptualization and will address marketing strategy, branding issues and merchandize development” explains Raoul Katovsky, CEO of SpacePortEdutainment.

SpacePortEdutainment has had initial discussions with major players in the investment community in the United States and England, who have already indicated an ability to fund the SpacePortShenyang project and a desire to discuss the project further upon completion of the Feasibility Study. “I am quite confident that we will be able to secure the needed funding upon completion of the Feasibility Study. I am also quite confident that the Feasibility Study will clearly demonstrate the viability of the project.” says SpacePortEdutainment’s Washington DC-based lawyer, Daniel Huber, who is leading the SpacePortShenyang capital raising program.

“The City of Shenyang is whole heartedly supporting the SpacePortShenyang project, which is regarded as an important asset for the 2008 Olympic Games. Together with SpacePortShenyang, the Qipanshan Area will become a sought after tourist destination creating many jobs and will become a welcome boost for the local economy.” says Shenyang’s Deputy Mayor Song Qi.

About SpacePortEdutainment

SpacePortEdutainment, based in Cape Town, South Africa, has been developing the SpacePort("Destination") concept since 2002 and is now fast tracking its commercialization starting with SpacePortShenyang as its flagship. Together with an internationally high profile SpacePortEdutainment Strategic Partner Network, SpacePortEdutainment is well equipped to meet the challenging deadlines it has to open SpacePortShenyang mid 2008 and SpacePortAfrica during October 2009.

SpacePortEdutainment plans to produce the SpacePort("Destination") high-tech 4-D animated simulation rides and other proprietary special effects content in Cape Town, taking advantage of the well established film and ICT sectors, having the full backing and support of the Cape Film Commission.

For further information, please visit www.SpacePortEdutainment.com:

The complete Press Release is available at:
http://www.spaceportedutainment.com/news_shen_pesp.html

Media Contact:
Raoul Katovsky
SpacePort Edutainment
Telephone: +27 (0)82 442-8602