Pacrim International Capital Inc. announces second quarter results for December 31, 2007



    HONG KONG, Feb. 14 /CNW/ - PACRIM INTERNATIONAL CAPITAL INC. (PCN: TSX)
("Pacrim" or the "Company"), is pleased to report the Company's results for
the second quarter ended December 31, 2007.

    
    - FINANCIAL HIGHLIGHTS

    -------------------------------------------------------------------------
                                 3 months ended           6 months ended
                                  December 31               December 31
    -------------------------------------------------------------------------
                               2007         2006         2007        2006
    -------------------------------------------------------------------------
    Revenue                   $627,431     $610,254   $1,196,213  $2,603,658
    Income (loss) from
     properties               $384,612     $195,543     $724,557    $618,963
    -------------------------------------------------------------------------
    Net income (loss)        ($115,710)   ($432,566)    $238,686  $4,939,662
    -------------------------------------------------------------------------
    Funds from (used in)
     operations               ($15,430)   ($289,452)    $443,426   ($492,803)
    -------------------------------------------------------------------------
    Total Assets           $50,540,781  $55,213,610  $50,540,781 $55,213,610
    -------------------------------------------------------------------------
    Income properties      $15,487,484  $16,828,534  $15,487,484 $16,828,534
    -------------------------------------------------------------------------
    Mortgages               $7,051,546   $6,287,124   $7,051,546  $6,287,124
    -------------------------------------------------------------------------

    Per Common Share

    -------------------------------------------------------------------------
    Net income (loss)           (0.002)      (0.007)       0.004       0.078
    -------------------------------------------------------------------------
    

    REVENUE:

    Revenue for the second quarter increased by $17,177 to $627,431 when
compared to the same period last year. The increase in revenue is primarily
attributed by the accrued interest income on the related party loans.

    Hospitality:

    Revenue from the three hotels decreased by $1,312,874 to nil in the same
period last year. The decrease was due to the disposition of three hotels in
fiscal 2007.
    Revenue from the restaurants decreased by $148,139 to nil. The decrease
in revenue from the restaurant was due to the disposition of the last East
Side Mario restaurant in fiscal 2007.

    Rental Revenue:

    The second quarter of the fiscal year income from rental properties was
$64,375, decreased by $187,736 compared to the same period last year. The
decrease of rental income is mainly due to the sale of the remaining Canadian
rental properties portfolio in fiscal 2007.

    Condominium Sales and Other:

    For the second quarter ended December 31, 2007 revenue from condominium
sales and other was $563,056. The last 4 condominium units were sold in fiscal
2007.

    NET INCOME:

    Net income for the first half of the year decreased by $4,700,976 to
$238,686 when compared to the same period last year. The decrease was mainly
due to the sale of the three hotels portfolio and one restaurant in fiscal
2007. As a result, the Company has less income producing properties in its
asset base.

    Outlook

    The Company has chosen to change its strategic direction from being a
firm focused on Canadian real estate to one that is focused on one of the
fastest growing economies in the world - China.
    Using the same formula as in the past, management believes the company
will successfully transition into the Chinese marketplace and continue to grow
through a well-defined internal growth and external acquisition program.
Management intends to seek out and take advantage of opportunities in the
Asian market and will not restrict itself to the real estate or hospitality
industries.
    The full financial statements for the year end and the first quarter and
the related Management's Discussion & Analysis are available on the System for
Electronic Document Analysis and Retrieval (SEDAR) and can be accessed
electronically at www.sedar.com.

    Caution concerning forward-looking statements

    Statements made in this news release, other than those concerning
historical financial information, should be considered forward-looking and
subject to various risks and uncertainties. Such forward-looking statements
are based on management's beliefs and assumptions regarding the information
currently available. The Company's actual results or developments could differ
materially from those expressed in the forward-looking statements. Factors
that could cause results or developments to differ include, among other
things, those expressed in the Company's filings or developments with Canadian
securities regulatory authorities. All information presented herein should be
read in conjunction with such filings.





For further information:

For further information: Guy Lam, Chief Executive Officer, Pacrim
International Capital Inc., Tel. 852-2526-1554

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PACRIM INTERNATIONAL CAPITAL INC.

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