M&G LCC AND VITALA GROUP TO WORK ON SHONKHOR TOWER

Ulaanbaatar, Mongolia /MONTSAME/ The M&G Construction, a wholly owned and operated Mongolian company, announces their intention to construct and manage a multi-purpose themed leisure attraction project in the UB city. For this, they have contracted the service of the Vitala Group of Companies--international developers, managers, consultants--to the leisure, tourism and themed entertainment industry. The project, currently referred to as the Shonkhor Tower Waterpark Sports complex, will comprise various sports and entertainment, health and wellness components , an indoor/outdoor waterpark, and numerous family lodging elements. All components and attractions are designed for all seasons. Vitala's multi-national team, having carried out an extensive site visit in September of 2012, will complete all marketing and feasibilities research, architectural design, project components composition and will provide full project financing. With more than 30 years of professional project development and financial experience attained in more that 90 countries, it will explore and analyze the existing infrastructure, and social as well as Mongolian cultural needs, through the application of numerous feasibiltiy stidies. The M&G LCC is evaluating multiple project sites in the UB city, utilizing 120,000 to 150,000 square meters of open air space required for deveopmemnt. The project will be 100-percent Mongolian owned and managed and will provide 1,000-1,200 jobs. The project's costs are estimated at 200-250 million am.dollars. It is expected that this entirely new Mongolian industry segment will generate revenues for the UB city and provide both permanent and temporary work places. The Shonkhor Tower is scheduled to open the summer of 2016. D.Enkhbileg