Panama International Merchandise Mart S.A. (PIMM) in Talks with World Bank for $50 Million Loan; Other Alliances Announced

Panama International Merchandise Mart S.A. (PIMM) in Talks with World Bank for $50 Million Loan; Other Alliances Announced

April 13, 2007

    COLON, Panama, April 13 /Xinhua-PRNewswire/ -- The
Panama International Merchandise Mart S.A. (PIMM),
currently under development near Panama's Free Zone as the
region's first wholesale merchandise mart, announced today
a number of important developments. 

    (Photo: 
http://www.newscom.com/cgi-bin/prnh/20070226/MXM001 )

    PIMM S.A. has entered into serious discussions with the
World Bank for a guaranteed $50 million bank loan.

    A strategic alliance is under negotiation with the
Dallas Merchandise Mart, which already operates the
Shanghai Merchandise Mart.

    PIMM S.A. has also entered into serious discussions
with an important New York investment banking group that
has shown interest in purchasing 24 million shares at $2.00
per share, equaling $48 million.

    In the past 45 days, PIMM S.A. has received over 87
applications for show room pre-construction sale at $80,000
and $160,000; total committed sales stand at $10 million.
Show room buyers are about 90% Chinese factories and 10%
Indian factories, both wishing to expand into the Latin
American market.

    PIMM S.A., with 672 showrooms in its first phase, 1,400
in its second phase and 2,800 in its third phase, is where
wholesalers are in direct contact with the manufacturers,
therefore avoiding unnecessary intermediaries. Set in a 46
hectare development, Panama International Merchandise Mart
will feature, among other attractions, a 10-hectare
wholesale business district, a merchandise mart and
accommodation for more than 25,000 visitors, spanning about
150,000 square meters of housing, five basic commercial
centers, 13 service areas, one office park area and one
business center. It will be home to nearly 4,000 qualified
foreign manufacturers and enterprises and tens of thousands
of quality products. The five wholesale centers will each
cover about 500,000 square meters and feature a wide range
of products, including textiles and garments, food and
groceries, healthcare and pharmaceuticals, household
electric appliances, communications equipment, mechanical
equipment, building materials and interior decoration,
hardware and electrical products, and petrochemical
products. Construction will begin in late 2007, with strong
support from the Panamanian government.


    For more information, please contact: 

     Mr. Reynald Henry Katz
     President and Founder
     Email: [e-mail]

    HTTP://WWW.PIMM.COM.PA
    HTTP://WWW.PANAMAMERCHANDISEMART.COM