Greater China Corporation Forms Greater China Art Fund, Yazzy's at www.williamverdult.com

According to FirstCall/ -- Greater China Corporation (stock symbol GCHC) has completed an agreement to form the Greater China Art Fund in partnership with the Elizabeth Wang Gallery.

Greater China is a U.S. public company with diversified operations in China and related economies (http://www.greaterchinacorp.com/).  The Elizabeth Wang Gallery (www.elizabethwanggallery.com) founded in 1993,
is a pioneer in providing museum-quality Chinese art for the international art market. On the occasion of its 10th Anniversary, it was honored by New York Mayor Michael Bloomberg for its "tremendous contributions to bringing modern Chinese artworks to our City's residents and to helping make New York City thecultural capital of the world.

The Greater China Art Fund will acquire, lease, sub-lease and sell high quality contemporary art from China's most celebrated living artists. This is the fastest growing segment of the art market and one in which Greater China Corporation and the Elizabeth Wang Gallery have many competitive advantages. The leasing feature enables the Fund to generate current income while its art is appreciating and the sub-lease component enables artists and collectors to retain title to some of their works while also generating income through lease to the Fund which then sub-leases to galleries, museums and collectors for display.

The Greater China Art Fund is designed to become a public company in orderto provide liquidity for investors, artists and collectors who participatethrough direct investment or exchange of art for shares. As a public entitythe shares can be bought and sold at a market price that reflects the value of the art portfolio and its earnings.

According to Jianping Mei and Michael Moses, creators of the Mei/Moses Fine Art Index: Contemporary Chinese art is still at a very early stage ofrecognition both in Asia and in the West. It therefore offers exceptional opportunities for collectors and museums in terms of price as well asavailability of some of the most important works from some of the most prominent Chinese artists.

Statements in this press release that are other than historical facts are forward-looking in that they contain expectations about future results.There can be no assurance that the events described in the above announcement will be completed as anticipated.

For additional information please contact:  info@greaterchinacorp.com or
Jon Scott:  hi2jon@hotmail.com or (866) 696-GCHC (4242).
SOURCE  Greater China Corporation