Velvet Rope Special Events, Inc. Completes Acquisition of Shenyang Huaxun Jiuding Venture Technology Co., Ltd

Velvet Rope Special Events, Inc. (OTC Bulletin Board:VELV) ("Velvet Rope" or the "Company"), today announced that effective on December 31, 2010, the Company completed its acquisition of Shenyang Huaxun Jiuding Venture Technology Co., Ltd. ("Shenyang Security”), a leading China-based security and protection services provider. Also, on the same date, Mr. Rui Tan, Ms. Jing Wang, Dr. Chuang Gao, Ph.D., and Mr. Chen Fang, were appointed to the Board of Directors. In addition, our board of directors appointed Mr. Rui Tan to serve as our President, Chief Executive Officer and Chair, Ms. Jing Wang to serve as our Chief Financial Officer, and Mr. Xin Tian to serve as our Chief Operating Officer. The Company intends to change its name to Eastern Security & Protection Services, Inc.

Shenyang Security is primarily engaged in the sales, distribution, installation and maintenance of security and safety products and systems, and the development of security and safety system related software. Our customers are presently located almost exclusively in the People’s Republic of China ("PRC”) and are primarily comprised of: (i) governmental entities, such as customs agencies, courts, public security bureaus, and prisons; (ii) non-profit organizations, including schools, museums, sports arenas, and libraries; and (iii) commercial entities, such as airports, hotels, real estate, banks, mines, railways, supermarkets, and entertainment venues; and, (iv) residential property developers, owners and tenants.

A majority of our revenues are derived from the sale and installation of packaged security and safety solutions, including alarm, and surveillance, and first responder alert systems. Shenyang Security’s products include alarm, digital video surveillance, communications, and other systems for home, commercial, institutional, public and private security and safety purposes. Shenyang Security provides designing, installation and testing services of security and safety systems, which integrates development, consulting, distributing, marketing, and maintenance of digital video surveillance and network communication. We also provide after-sale service and maintenance of such systems. We presently operate almost exclusively in Liaoning province in the North-eastern region of the PRC. Our sales network covers most populated areas of Liaoning, but we rely on the provincial capital city of Shenyang for the majority of our revenues. We sell, install and service over 400 products from approximately 90 suppliers through our distribution network in compliance with PRC regulations.

We have experienced increased revenues over the past two years. Our revenues increased from $2.73 million in fiscal year 2008 to $6.27 million in fiscal year 2009, representing an increase of approximately 129%. Similarly, our net income increased from $570,312 in fiscal 2008 to $1,783,955 in fiscal 2009, representing an increase of approximately 212%. We strive to provide customer-driven, one-stop services to our clients and actively pursue acquisition prospects and other strategic opportunities to expand our product range and the scope and capacity of our services. We have approximately 150 full time employees.

Mr. Rui Tan, President, CEO and Chairman, said, "We are very pleased to announce the completion of our acquisition of Shenyang Huaxun Jiuding Venture Technology Co., Ltd. and the appointments to our Board of Directors. We are very positive about the growth potential of the security and protection services industry in China and our company’s growth prospects as we continue to strive to become a market leader. We have reached a major goal with having our Company’s shares quoted on the OTC Bulletin Board in the United States which will allow us to broaden our investor base, create a liquid market for our stock, and financially support the accelerated growth of our business as we strive to become a leader in the security and protection services industry in China. Our goal is to become one of the largest and most profitable non-government owned security and protection services companies in China. Our strategy is to grow aggressively through mergers, joint-ventures and acquisitions targeting state-owned-enterprise and private security and protection services providers with outstanding potential."

About Velvet Rope Special Events, Inc.

Velvet Rope Special Events, Inc. is primarily engaged in the sales, distribution, installation and maintenance of security and safety products and systems. Our customers are presently located almost exclusively in the PRC and are primarily comprised of: (i) governmental entities; (ii) non-profit organizations; and (iii) commercial entities; and, (iv) residential properties. We strive to provide customer-driven, one-stop services to our clients and actively pursue acquisition prospects and other strategic opportunities to expand our product range and the scope and capacity of our services. As of September 30, 2010, we had approximately 150 full time employees. For the nine months ended September 30, 2010, revenue was $8,962,850 and net income as $2,566,772. As at September 30, 2010 shareholders’ equity was $5,095,945 and total assets were $12,673,784.

For more information, please contact:

Velvet Rope Special Events, Inc.
Mr. Rui Tan, President, Chief Executive Officer and Chairman
Ms. Jing Wang, Chief Financial Officer and Director
68 Harbin Road, Shenyang, Liaoning, PRC, 110002
Telephone: 86-24-2252-2550
Email: ir@espsi.com

Safe Harbor Statement - This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the company's ability to raise additional capital to finance the company's activities; the effectiveness, profitability, and the marketability of its products; legal and regulatory risks associated with the share exchange; the future trading of the common stock of the company; the ability of the company to operate as a public company; the period of time for which its current liquidity will enable the company to fund its operations; the company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; the company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the company's filings with the Securities and Exchange Commission and available on its website at http://www.sec.gov. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.