AMZ Amz Holdings

    RNS Number : 0671C
  AMZ Holdings plc
  27 August 2008
   

    27th August 2008

    AMZ Holdings plc ("the Company")

    Approval for Enterprise Plan to develop five star resort on Penghu Islands, Taiwan

    AMZ Holdings Plc, the AIM listed hotel and leisure company seeking to build Taiwan's first world class hotel and casino resort, is
pleased to announce today that the Taiwan Tourism Bureau - Ministry of Transportation and Communications - has approved the resort
Enterprise Plan submitted for the proposed property. This plan, part of a complex zoning development process for the 27 acre beach fronted
site, provides the Company the rights to develop a five star resort on Penghu Islands, Taiwan. 

    The Company continues to monitor gaming legislative developments in Taiwan, where strong indications are that authorities intend to
enact legislation soon, with the Penghu Islands as the expected location. Legislative activity resumes from September, and the second and
third reading of the gaming bill already in due process as an amendment to the Offshore Islands Act is expected to continue in this session.


    Michael Treanor, CEO of AMZ Holdings said:

    "The approval of the rights to build an international resort on our site, places the Company in a strong position as tourism activity
increases on the island and the region opens up further to visitors from China. We are encouraged by the recent positive statements of
intent regarding gaming legislation from the government, and the support of the Penghu authorities towards significant tourism
infrastructure projects on the island such as the Company resort proposals. 

    We would like to thank our various locally appointed development professionals for their work in achieving this milestone for the
Company and look forward to starting the next phase of our resort development process."

    Ends

    For further information contact:

 Jonathon Brill/Caroline Stewart   Financial PR       Tel: +44(0) 207 831 3113
 Financial Dynamics

 Matthew Robinson /                Nominated Adviser  Tel: +44(0) 20 7600 1658
 Charles Cunningham
 FinnCap

    Website: www.amzholdings.com


This information is provided by RNS
The company news service from the London Stock Exchange
 
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