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Gold/Mining/Energy : LGOV - Largo Vista Group, Ltd. - 2005 & Beyond........
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From: jmhollen7/1/2005 3:06:18 PM
   of 8
 
Energy: Largo Vista Group Sends Letter of Demand
7/1/2005 3:00:01 PM

NEWPORT BEACH, Calif., Jul 01, 2005 (BUSINESS WIRE) -- Largo Vista Group Ltd. (LGOV) announced today that a "Letter of Demand" from the company's legal council has been sent to and received by Shanghai Offshore Oil Group (HK) Co. Ltd. (SOOGC) as a direct result of Largo Vista's Board Resolution that has agreed to give SOOGC a written "Demand to Cure Delayed-Performance" until July 18, 2005 (60 days from May 18, 2005), and to provide the company with a firm delivery schedule. If the issues cannot be resolved by July 18, 2005, Largo Vista Group Ltd. will take all appropriate legal action regarding this matter.

Mr. Deng Shan, board chairman for Largo Vista Group Ltd., stated, "We know that Shanghai Offshore Oil Group (HK) Co. Ltd. is making every effort to remedy this contract and has already negotiated a new contract with another supplier to help offset the original contract between Largo Vista Group Ltd. and Shanghai Offshore Oil Group (HK) Co. Ltd."

Largo Vista Group Ltd. has headquarters in the U.S., with offices in both China and Vietnam. For more information about the company please visit: largovista.com.

SOURCE: Largo Vista Group, Ltd.
Largo Vista Group
Investor Relations, 949-252-2180
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