Acorn International Announces Shareholder Resolutions Adopted at Extraordinary General Meeting of Shareholders Appointment of New Executive Chairman and CEO and Change to Audit Committee of the Board

SHANGHAI, May 4, 2015 /PRNewswire/ -- Acorn International, Inc. (NYSE: ATV) ("Acorn" or the "Company"), a marketing and branding company in China engaged in developing, promoting and selling products through extensive direct and distribution networks, today announced that, at the extraordinary general meeting of shareholders held in Shanghai on May 4, 2015 (the "EGM"), Acorn shareholders voted for the proposals to

• remove Mr. Don Dongjie Yang, Mr. Charlie Shiqiang Ban, Mr. Steve Xiaodi Sun, and Mr. Liang Lu as directors of the Company;
• elect Mr. David Leung, Mr. Cosimo Borrelli, and Mr. David Naphtali as directors of the Company; and
• amend the Company's articles of association to allow shareholders who together hold at least 30% of the Company's issued shares to require the Company to convene an extraordinary general meeting of shareholders.

As a result, effective as of May 4, 2015, Mr. Don Dongjie Yang, Mr. Charlie Shiqiang Ban, Mr. Steve Xiaodi Sun, and Mr. Liang Lu are no longer directors of the Company and Mr. David Leung, Mr. Cosimo Borrelli, and Mr. David Naphtali are members of the Company's board of directors, which consists of six members.

The Company also announced that, immediately following the EGM, its board of directors appointed Mr. Robert W. Roche to replace Mr. Don Dongjie Yang as the executive chairman and chief executive officer of the Company, and appointed Mr. Cosimo Borrelli and Mr. David Leung as members of the audit committee to fill the vacancies left by Mr. Steve Xiaodi Sun and Mr. Liang Lu.

About Acorn International, Inc.

Acorn is a marketing and branding company in China, operating multiple direct sales platforms and a nationwide distribution network. Acorn's direct sales platforms include outbound telemarketing centers, e-commerce websites, and catalogs. Acorn has built a proven track record of developing, promoting and selling proprietary-branded products, as well as products from established third parties. For more information, please visit http://ir.chinadrtv.com.

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