New China Ventures Ltd., is a company organized under the laws of the State of Nevada. On July 31, 2006, the Company signed a definitive agreement for a six-month review option to acquire 100% of China Beijing CGW Water Technology Centre ("the Transaction"). In consideration of their share holdings in CGW, the current shareholders of CGW on closing of the transaction will receive RMB200,000 (roughly $25,000) and will receive a further RMB800,000 (roughly $100,000) within one year of the date of the closing of the transaction.

Investments in Chinese water utilities

CGW was established in 1999 by a group of experienced water management experts in China. CGW engages in various water-related consulting services such as research and development of technologies in urban water supply, water conservation, agricultural irrigation, and sewage treatment, water technology transfers, public awareness of water issues and exploration of water resources.

CGW has participated in various major projects in China in alliance with other local and foreign water supply enterprises.

With a series of successful projects over the past 5 years, CGW has established itself as a leading water consultancy firm in China and has earned praises and respects from within the industry.

Going forward, CGW will serve as the foundation upon which NCVL management will build a leading water company. The Company will, through a series of mergers and acquisitions and/or joint ventures, acquire a portfolio of cash-flow generating water companies in China. NCVL will leverage CGW's technical expertise and wealth of experience to deliver value-added, efficient and profitable water solutions.