NEW YORK.- ACAF will present the first, annual Asian Contemporary Art Fair in New York, to debut November 8-12, 2007 with a special Gala opening night preview on November 8, 2007. The premise of the Fair is to present a diverse selection of the most influential contemporary Asian art in the context of a vibrant, international contemporary art market, and to provide access to important works for both new and experienced collectors, as well as an opportunity for learning and dialogue. The Fair will introduce an exclusive selection of the most highly respected dealers of contemporary Asian Art to a continuously growing base of collectors in New York, the contemporary art market's most important power center.

ACAF will bring together 80 exhibitors from more than 10 countries for this historical event. Exhibitors will show works in all media from young emerging artists and established mid-career artists. ACAF will offer a more accessible and manageable fair environment by providing large booths where exhibitors may present their works in the most professional setting. We will implement an extensive marketing campaign with advertisements directed to our audience, and we will provide daily press briefings. A guest-curated special exhibition will highlight the best art works that address the salient issues in contemporary Asian Art. Led by renowned curators, dealers and scholars, a lecture series will bring an expert perspective to collecting contemporary Asian art and a scholarly forum on current topics. A private viewing room will be available for discreet viewing. A guest lounge and café will be provided for the convenience of our visitors.

With the growing interest of Western collectors in Asian art, and the enormous success of contemporary art fairs and auctions, it is expected that there will be great enthusiasm for this new Fair. Art and Auction magazine recently reported that Sotheby's and Christies' registered record sales in Hong Kong were $108 million and $158 million respectively. Prices of Chinese contemporary art have increased tenfold in the past two years in a market that barely existed in the past few years. Financial Times also reported in May 2006 that "the Chinese and Asian art scene is apparently reaching white-hot levels as eager buyers snapped up $39M dollars worth of modern art works at Christies' Hong Kong Sale last weekend. The astonishing total included many world records and many works going well above their estimates. Pakistani, Indonesian and Indian contemporary art is emerging into the limelight". Art Review also made an important observation, "The united front of Asian Biennales is a move towards a more self-empowered and connected contemporary art network in Asia, with a centralized platform." ACAF will be unique in presenting in one location, the works by artists that have been recently much discussed in the Art world, and it will bring together collectors, critics, curators and arts professionals for a grand exposition that will present the relevance of contemporary Asian art in the Western market.