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China MediaExpress Holdings, Inc. Responds to Misleading and Inaccurate Allegations

Dépèche transmise le 7 février 2011 par Business Wire

China MediaExpress Holdings, Inc. Responds to Misleading and Inaccurate Allegations

China MediaExpress Holdings, Inc. Responds to Misleading and Inaccurate Allegations

FUJIAN, China--(BUSINESS WIRE)--China MediaExpress Holdings, Inc. (NASDAQ GS: CCME) (“CME” or “Company”), China’s largest television advertising operator on inter-city and airport express buses, today announced that it has made available on its investor website a detailed letter to shareholders from its Founder and CEO, Mr. Zheng Cheng. The letter deals with the recent factual inaccuracies and misleading innuendo employed by bloggers for their self-benefit.

The Company’s management believes that this letter will offset doubts raised by stock market speculators interested in enriching themselves through manipulation at the expense of its investors.

The letter is currently available at the “Investor Relations” section of CCME’s website, http://www.ccme.tv/eng/ir/irprofile.php. Interested investors are also welcome to contact the Company or its investor relations firm to receive a copy of the letter.

About CME

CME, through contractual arrangements with Fujian Fenzhong, an entity majority owned by CME’s former majority shareholder, operates the largest television advertising network on inter-city and airport express buses in China. While CME has no direct equity ownership in Fujian Fenzhong, through the contractual agreements CME receives the economic benefits of Fujian Fenzhong’s operations. Fujian Fenzhong generates revenue by selling advertisements on its network of television displays installed on over 27,200 express buses originating in eighteen of China’s most prosperous regions, including the four municipalities of Beijing, Shanghai, Tianjin and Chongqing and fourteen economically prosperous regions, namely Guangdong, Jiangsu, Jiangxi, Fujian, Sichuan, Hebei, Anhui, Hubei, Shandong, Shanxi, Inner Mongolia, Zhejiang, Hunan and Henan.

CME is included in the Russell Global Index. For more information visit: www.ccme.tv.

Business Wire

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