Hubei Chuguan (LDSR) in Business Talks with Buy Out Prospect

BEIJING, Dec. 29 /PRNewswire-FirstCall/ - Land Star Inc. (www.landstarcorp.com) Landstar management announces that it has entered into a serious dialogue with a USA based company for the sale of its oil and gas vapour recovery division Hubei Chuguan.
Chairman Mr. Li Congtang said "The market for a very brief time reflected part of our values however since then it is best described as ridiculous valuations. At best the valuations the markets are indicating for LDSR are equivalent to some equipment of our business and nothing else. To that end we are seriously exploring other options and alternatives including those being presented to us by this unsolicited buyer. When the transaction is complete LDSR will still maintain assets in the Mexico and Colorado mining projects. At present we are looking at many options and we are addressing the concerns of our shareholders with whom the artificial and fractional valuation of our company just does not sit well. Although the crude oil prices have fallen sharply in the past LDSR remains a strong vibrant company with strong revenues and great potential. We wish to tap into that potential to reward our shareholders"

The company will provide further details as they become available.

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