Symax Lift Holding Co. Ltd. ("Symax" or the "Company") (TSX VENTURE: SYL), a developer, manufacturer and servicer of elevators and escalators globally with a manufacturing base in China, today reported its financial results for the quarter ended March 31, 2011.

Sales increased to $3,255,000 for the quarter ended March 31, 2011 from $1,505,000 in the same quarter in 2010, a significant increase of 116%. The increase was primarily driven by the continued benefits of an standardized elevator model which is specially suited to Chinese government funded housing development projects and Chinese Tier 2 and Tier 3 city developments; as well as the sales increase from overseas. This growth in sales illustrates the growing opportunities in the Chinese elevator market as government sponsored housing development projects continue.

Gross profit increased to $817,000 for the quarter ended March 31, 2011 from $396,000 in the same quarter in 2010, a 107% increase, consistent with the sales increase.

Selling, general and administrative expenses for the quarter ended March 31, 2011 increased by 33% to $919,000 from $694,000 in the same quarter in 2010, yet significantly decreased as a percentage of sales to 28% from 46% in the same quarter in 2010.

Net loss for the quarter ended March 31, 2011 was $199,000 compared to net loss $394,000 in the same quarter of 2010, which excluded the effect of gain of $58,000 on disposal of a subsidiary recorded in January, 2010, an improvement of 49% due to the aforementioned factors.

Cashflow from operations was an outflow of funds of $183,000 compared to an outflow of $1,060,000 in the same period ended March 31, 2010. This improvement was primarily as a result of decreases in accounts receivable and inventories partially offset by decrease to accounts payable.

"We are excited with our record year-over-year quarterly growth of 116%, the largest quarterly increase in Symax history" noted Xiaoyan (Sabrina) Zhang, Chief Executive Officer. "We look forward to continuing substantial sales increase while containing costs to deliver improved bottom line results for the remainder of the year."

About Symax Lift (Holding) Co. Ltd.

Symax is in the business of the development, manufacturing, and sale of elevators, as well as the provision of after-sales services in China and worldwide. Symax's products and services are classified into two separate offerings; a main line of standardized products which include passenger elevators, goods/freight elevators, villa elevators, panorama elevators, hospital elevators, residential and commercial escalators and moving walkways; and customized elevator products.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contacts: Symax Lift (Holding) Co. Ltd. Zu (Michael) Zheng +1 416-238-5001 michael.zheng@eternefinance.com Symax Lift (Holding) Co. Ltd. Meng (Matty) Li +1 604-601-8224 meng.li@symax.ca