BELLINGHAM, Wash. and HONG KONG, Nov. 13, 2007 (PRIME NEWSWIRE) -- Asia Properties, Inc. (API) (Pink Sheets:ASPZ) announced today that it has signed a Letter of Intent to acquire Microart, Inc. (Pink Sheets:MCRT).

Asia Properties plans to acquire the majority position of Microart, Inc. using restricted shares. Once acquired, API plans to inject its IT investments and other non-core real estate assets in order to secure those investments. Further details will be announced later in the week.

Daniel McKinney, API's CEO, said, "Our management team seeks to deliver the best possible returns for our investors and to build shareholder value. The performance of the micro-cap Index in the last decade has shown a 12% annualized total return, which bids well for small cap stocks and further justifies our decision to buy Microart."

About Asia Properties, Inc.: Asia Properties, Inc. was established to develop resorts and prime real estate in Southeast Asia. Asia Properties currently operates as the only listed U.S. public company focusing on S.E. Asian real estate investments. API is a Nevada corporation and trades on the Pink Sheets under the symbol "ASPZ." There are currently 39,115,112 fully diluted shares consisting of 16,672,740 free trading and 22,357,376 restricted. The transfer agent is Computershare, Inc. of Golden, Colorado.