BANKING LICENCE ACQUIRED AND UPDATE ON PROGRESS IN CHINA

Oriental  City  Group  Plc  (PLUS  Ticker:  OCGP;  Frankfurt  Ticker :TCN, WKN:
A0MMTC),  the  Hong  Kong  based  financial  services  group  specialising   in
Lifestyle   Credit   Card issuance and payment services, announces  that  after
five years of partnering  with established banking institutions in Asia, it has
acquired its own banking license  from  the Autonomous Island of Anjouan, Union
of Comoros.

The board expects this milestone will open  up  new  business opportunities and
allow the Group to expand its business model.  By teaming  up  with Asian banks
to  secure  local licenses for the issuance of credit and debit cards,  OCG  is
working towards  being  a  qualified  card-issuer in its own right, allowing it
vertically to integrate its successful  lifestyle  card  business,  in order to
provide  one-stop  financial  services  to  its card members and increases  its
revenue potential.

The  Group considers that the banking license  will  be  the  initial  step  to
developing  its  proprietary  diversified  financial products and services, and
will be crucial in targeting its existing client  base (i.e. its lifestyle card
members). Ultimately, OCG hopes to become a new-generation  lifestyle financial
services provider, starting in Greater China and expanding across Asia.

The Group is already an established issuer of lifestyle credit  and debit cards
through  partnerships with established banks and OCG is also already  providing
card acceptance services by working with China Unionpay in Thailand.

This month  the  Group has seen its Golf Card membership rise above 40,000. Its
card remains the only  lifestyle  payment  card using Golf as the main theme in
China at present. By working alongside the leading banks in China, OCG believes
it will maintain this position, as well as developing its business model across
other PRC provinces and cities, e.g. Guangdong  Province, Beijing and Shanghai.
Furthermore,   it  expects  to  develop  its  Golf Services Platform   further,
attracting more golf   related   companies,  organisation  and  golf  clubs  in
Hong Kong, China and South East Asia.

HENRY YU, FOUNDER AND CHIEF EXECUTIVE  OF  OCG,  COMMENTED:  “OCG will focus on
providing a quality level of financial products and services to this generation
of consumers. Starting in Asia, our customers are lifestyle-focused  with their
specific  needs  and  expectations,  and  our  OCG lifestyle  card  and payment
platforms,  together  with  the  proposed lifestyle financial services will  be
oriented to meet their increasing demand.”

OCG’s  agreement with United Overseas  Bank  (“UOB”)  ended  on  30  June  2007
following  the  expiration  of its term. Subsequently, UOB is making claims for
outstanding sums alleged to be  due,  which  OCG is resisting pursuant to legal
advice. Legal proceedings have not yet commenced.

The  Directors  of  Oriental  City  Group Plc accept  responsibility  for  this
announcement.

-ends-

For further information:

ORIENTAL CITY GROUP PLC
Henry Yu, Chief Executive
Henry.yu@ocg.com.hk
Anthony Mak, Vice President                      +852 (2546) 8808
anthony.mak@ocg.com.hk

ATLANTIC LAW LLP
Matthew Thompson                                     +44 (0) 20 7616 2888
matthew.thompson@atlantic-law.com

CONDUIT PR LTD
Christian Taylor-Wilkinson/Jos Simson          +44 (0) 20 7429 6603
jos@conduitpr.com
Christian@conduitpr.com

NOTES TO EDITORS:

Oriental City Group Plc issues Lifestyle  Credit  Cards  in south-east Asia and
offers  platform-wide  privileges  to  customers  based  on  their   respective
lifestyle interests.

Founded  in 2001, OCG launched its first Lifestyle Card in Hong Kong 2002,  the
‘Golf VISA  Card’,  accumulating  over 20,000 members within one year and today
has the largest golfers’ database in Asia.

Since then OCG has launched a further  three  Lifestyle  Cards  in  Hong  Kong,
including  the  Lady’s  Card and Man’s Card for the health & beauty market, the
Family Card, and the first  ever  ‘Golf  Card’  in China. OCG is set to further
expand its portfolio with four more Lifestyle Cards  set  to  be  introduced in
China in 2007.

OCG  is among the first financial institutions introducing China Unionpay  Card
Payment Services internationally outside China, in order to meet the increasing
payment needs of the growing Chinese tourists around the globe.

Tags: law