Asia Pacific Boiler Corp enters into letter of intent for strategic acquisition of key subsidiaries

     Asia Pacific Boiler Corp enters into letter of intent for strategic
                       acquisition of key subsidiaries

PR Newswire

HONG KONG, Feb. 21, 2014

(OTCQB: PADR) ("Asia Pacific" or the "Company") on February 14, 2014 entered
into a letter of intent regarding our proposed acquisition of Million Place
Investments Limited. ("Million Place"), a BVI corporation. Million Place
holds an option to purchase up to 51% of Inner Mongolia Yulong Pump Production
Co. Ltd. ("Yulong Pump"), a PRC corporation engaged in the production and sale
of industrial boilers. To date, Million Place has completed the acquisition
of 49% of Yulong Pump.

On its part, Yulong Pump has secured  a commitment for its purchase of  Hohhot 
Devotion Boiler  Ltd. ("Devotion  Boiler") by  July 2014.  Together,  Devotion 
Boiler and  Yulong Pump  are concurrently  planning to  begin construction  in 
March 2014 of  a new  state of  the art  Boiler manufacturing  factory with  a 
planned investment of approximately US$250  million. The companies intend  to 
commence staffing and training of the new boiler plant employees  concurrently 
with the start of construction. Yulong Pump and Devotion Boiler will also seek
to rezone for commercial and residential use industrial land owned by Devotion
Boiler in  Inner Mongolia.  It is  anticipated that  successful rezoning  will 
result in up to a 500% increase  in value of the property, which is  currently 
valued at an estimated RMB300 million (approximately US$49,600,000).

The parties have already made significant progress with their due diligence in
anticipation of the LOI,  and we anticipate that  the audits of Million  Place 
and Yulong Pump will be completed by the end March, 2014. Auditing of Devotion
Boiler will follow with completion anticipated prior to July, 2014. Provided
that audit results  are satisfactory,  we aim  to establish  parameters for  a 
definitive agreement well ahead of the March 31, 2014 deadline provided in the
LOI. With view toward financing the proposed transaction the Company is in the
process of securing a standby line of credit in the amount of US$300 million.


This press release contains  "forward-looking statements." Statements in  this 
press release which are not  purely historical are forward-looking  statements 
and  include  any  statements   regarding  beliefs,  plans,  expectations   or 
intentions regarding the  future, and specifically  references to the  Company 
being able to  finance or complete  the acquisition. The  reader can  identify 
these forward-looking  statements  by  forward-looking words  such  as  "may," 
"will," "intend,"  "seek,"  "anticipate,"  "planning,"  "estimated,"  "in  the 
process" or  similar words.  The reader  should read  statements that  contain 
these words  carefully  because  they  discuss  future  expectations,  contain 
projections of  future results  of operations  or of  financial condition,  or 
state other forward-looking  information. Forward-looking statements  include, 
but are  not  limited to,  statements  regarding financing  arrangements,  due 
diligence and due diligence results, potential acquisitions, asset valuations,
expansion efforts, future plans  and objectives of  Asia Pacific Boiler  Corp. 
The risk  factors  listed  in  our disclosure  documents  and  the  cautionary 
language on the Company's website provide examples of risks, uncertainties and
events  that  may  cause  actual   results  to  differ  materially  from   the 
expectations and projections  described by  Asia Pacific Boiler  Corp. in  its 
forward-looking statements. Actual  results relating to,  among other  things, 
our prospective  acquisition  of  Million  Place  Investments  Limited,  Inner 
Mongolia Yulong Pump, or Devotion  Boiler, our planned business activities  or 
the activities and assets of the companies  we are seeking to acquire, or  our 
ability to obtain  financing for  our business, could  differ materially  from 
those  currently   anticipated   in   such   statements.   Factors   affecting 
forward-looking statements  include but  are not  limited to:  results of  due 
diligence, audits  and valuations;  changes  in economic  conditions,  foreign 
exchange and  other  financial  markets;  changes of  the  interest  rates  on 
borrowings;  litigation;  legislation;  environmental,  judicial,  regulatory, 
political and competitive developments in  areas in which Asia Pacific  Boiler 
Corp. operates;. The reader  should refer to the  risk disclosures set out  in 
the periodic  reports and  other disclosure  documents filed  by Asia  Pacific 
Boiler Corp. from time to time with the Securities and Exchange Commission and
other regulatory authorities.

SOURCE Asia Pacific Boiler Corporation


regarding Asia Pacific Boiler Corporation., please contact:

Hogan Zhang
Investor Relations
Tel: +852 - 3979 7116
Press spacebar to pause and continue. Press esc to stop.