NEW YORK, December 23, 2011 – NYSE Regulation, Inc. (“NYSE Regulation”) announced today that trading on the New York Stock Exchange (“NYSE”) in the common stock of Universal Travel Group (the “Company”) – ticker symbol UTA – will remain halted while NYSE Regulation evaluates the need for further disclosures and the continued listing of the Company pending the Company’s resolution of all outstanding issues raised by the staff of the Securities and Exchange Commission (“SEC”) in its ongoing comment letter review of the Company’s Form 10-K for the year ended December 31, 2010. When all such comment letter issues have been resolved and the amended Form 10-K has been refiled, NYSE Regulation will consider at that time the advisability of resuming trading in the Company’s common stock and the Company’s overall suitability for continued listing as the NYSE may at any time suspend trading if it believes continued dealings in the security on the NYSE are not advisable.
NYSE to Continue Trading Halt in Common Stock of Universal Travel Group
NYSE Regulation initiated its trading halt with respect to the Company’s common stock on April 11, 2011, because of the uncertainty created by the resignation of the Company’s then independent auditor. The filing of the Company’s 2010 Form 10-K was significantly delayed because of the need to engage a new independent auditor. The Form 10-K was filed on June 7, 2011 and subsequently amended on July 21, 2011. The NYSE staff continued the trading halt with respect to the Company’s common stock after the filing of the Form 10-K because the Company advised the staff of NYSE Regulation that the SEC staff were reviewing the Company’s filing.
Mr. Jing XIE, Secretary of Board & Interim Chief Financial Officer
Universal Travel Group
Tel: +1 212-618-1978