ASIA PROPERTIES SIGNS MOU TO ACQUIRE MACAU CASINO

HONG KONG and BELLINGHAM, WASHINGTON --- November 19, 2009 — Asia Properties, Inc. (API) (OTC: ASPZ) announced today that it has signed a Memorandum of Understanding “MOU” to acquire 50.13% of a Macau casino VIP club.

Sing Hou VIP Club (“Sing Hou”) located in Star World Hotel has been in operation since November 2008 under a VIP Promoter sub-license from Galaxy Entertainment Group. Sing Hou operates VIP baccarat gaming tables and has an aggressive expansion planned for 2010. A surge of activity at Macau’s baccarat tables has pushed casino revenues to a record HK$11.27 billion (US$1.45 billion) in August. Baccarat accounts for 88 percent of total Macau casino winnings in the year to September, and revenues are up by 53 percent this year.

Daniel Mckinney, API’s CEO, commented, “I am pleased to inform API shareholders that we are acquiring control of an established Macau VIP club casino at the top end and most profitable sector of the market. The Macau gaming market is already the largest in the world and API plans to become a significant player in the VIP sector through this acquisition. Unlike the Sands or Wynn, API is a pure Macau gaming play.”

The casino acquisition will be for restricted shares and is anticipated to close before January 17, 2010. Shareholders will be advised of the acquisition details as soon as possible after the closing.

About Asia Properties, Inc.: Asia Properties, Inc. was established to develop resorts and prime real estate in Southeast Asia. API is a Nevada corporation and trades on the Pink Sheets under the symbol "ASPZ." There are currently 35,474,362 fully diluted shares consisting of 11,965,626 restricted and 23,508,736 free trading. The transfer agent is Transfer Online, Inc. of Portland, Oregon.

For up to date corporate information about Asia Properties, Inc. contact Daniel McKinney, email: dmckinney@asiaprop.com or (http://www.asiaprop.com) For Investor Relations, call Dennis Burns. Tel 419-951-4842 email: denny@nvestrain.com www.nvestrain.com

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