Q Lotus Holdings and The Plastics Exchange Sign LOI

CHICAGO, May 3, 2011 /PRNewswire/ -- Q Lotus Holdings, Inc. (OTCBB:QLTS) announces a Letter of Intent to loan The Plastics Exchange (TPE) up to $25,000,000.  At any given point in time after the closing date, Q Lotus will have the option to convert the outstanding principal loan amount into an ownership interest in TPE.

About The Plastics Exchange (TPE)

The Plastics Exchange is a real-time marketplace for anonymously buying and selling domestic and international commodity grade resins (Polyethylene and Polypropylene).  All orders are for actual delivery.  TPE acts as a clearinghouse to complete trades.  Principals, not brokers, TPE handles the credit and logistics.  In order to assure the integrity of the market, TPE guarantees product quality, delivery and payment of every transaction.

TPE offers trading in prime and off grade resins in railcars, bulk or packaged truckloads and FCL.  TPE has trading relationships with a large network of major producers, distributors, traders and brokers accessing 100+ million pounds of warehoused resin and direct/indirect access to most producers' spot railcar offerings.

Resin offers are placed online for up to 2 weeks and are subject to prior sale and credit approval.  TPE generally maintains 15-25 million pounds of spot offers listed on the trading floor; sometimes more or less depending on market conditions.

TPE provides in-depth research and news coverage of the resin marketplace.  TPE displays historical data, captured from the asking price of the Contract Market, for 11 commodity resin grades on daily, weekly and monthly charts.  TPE gathers unique market information based on exchange observations along with interactions with producers, brokers, traders, distributors, and processors.  This information is compiled and published weekly as Market Updates, available both on the website and by email.  Interested parties can simply register to join the 20,000 people already on the distribution list.

TPE provides these trading tools as a service to the industry, without charge, to help others make more intelligent buying and selling decisions.   http://www.theplasticsexchange.com

About Q Lotus Holdings, Inc.

Q Lotus Holdings, Inc., a diversified holdings company, is a Chicago-based minority owned business. The Company has a clear vision how to leverage its intellectual capabilities, assets and opportunities, while at the same time, seizing an abundance of prospects provided by the current economic conditions. Acquisitions will be based on future growth potential and leadership. Q Lotus expects to nurture these businesses infusing cash and managerial leadership as needed on a venture capital and/or incubator basis. The Company continues to focus on shareholder value as the cornerstone in its day-to-day operations, and it will continue to provide frequent public updates. www.qlotuspe.com

Q Lotus Holdings is a member of EquityGroups, the Investors Social Network.

Safe Harbor Statements

This release contains forward-looking statements within the meaning of the federal securities laws. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Information on significant potential risks and uncertainties that may also cause differences includes, but is not limited to, those mentioned by Q Lotus from time to time in its filings with the SEC. The words "may," "will," "believe," "estimate," "expect," "plan," "intend," "project," "anticipate," "could," "would," "should," "seek," "continue," "pursue" and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made. Q Lotus undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may be disclosed from time to time in our SEC filings or otherwise, including factors discussed in our periodic reports made with the SEC, and, therefore, readers should not place undue reliance on these forward-looking statements. Actual results, including, without limitations, the results of Q Lotus' strategic initiatives, may differ significantly than those anticipated in forward looking statements. Q Lotus undertakes no duty to update these forward-looking statements, except as required by law.

Contact:
Brad Friedman
[email protected]
(312) 379-1800 x5

SOURCE Q Lotus Holdings, Inc.