Zhongbao Intl Inc (GREY:ZBIT)

Third Quarter 2011 Highlights

• Revenues increased 185.4% year-over-year to $8.7 million
• Gross profit rose 286.7% year-over-year to $5.6 million, representing a gross margin of 64.1% compared to 47.3% in the year ago period
• Net income for the 2011 third quarter was $3.5 million, or $0.13 per diluted share compared to net income of $0.7 million or $0.03 per diluted share in the third quarter of 2010.
• The Company has changed its ticker symbol to "ZBIT" from the previous ticker "FTWV"

"We are very pleased with our strong third quarter operating results, which are significantly improved compared to the same period last year," commented Mr. Haoji Xia, the Company's Chairman and Chief Executive Officer. "Zhongbao will continue the development of phases three and four of Jinshan Liyuan during the remainder of the year. Also, we will expand our real estate market to Xi'an in Shaanxi Province, which we expect to provide additional projects for us over the next few years."