SHENZHEN, China -- Universal Travel Group Inc. (OTCBB: UTVG) ("Universal Travel Group" or the "Company"), a fast growing travel services provider in China specializing in online and customer representative services to the travel service industry offering packaged tours, air ticketing, hotel reservation and air cargo transportation, today announced that it has terminated its agreement with three Chinese financial institutions to receive $3.5 million in financing in exchange for 1,301,481 shares of Universal Travel Group common stock (the "Agreement").
The Agreement, which was announced by the Company on 02/07/2008, has been terminated after the three financial institutions ...