BEIJING, July 22, 2011 /PRNewswire-Asia/ -- VisionChina Media Inc. ("VisionChina Media" or the "Company") (Nasdaq: VISN), one of China's largest out-of-home digital television advertising networks on mass transportation systems, today announced the appointment of Kit Leong Low, executive director and chief financial officer of Focus Media Holding Limited ("Focus Media") (Nasdaq: FMCN), to VisionChina Media's board of directors.
"We are delighted and honored to have Mr. Low join our board of directors," said Limin Li, VisionChina Media's chairman and chief executive officer. "We believe his experience in the role of chief financial officer of Focus Media as well as his background in banking will prove valuable to our board. His appointment to the board also further strengthens the relationship between VisionChina Media and Focus Media."
Mr. Low is currently executive director and chief financial officer of Focus Media. Before joining Focus Media, he was an executive director of the Greater China entertainment conglomerate, eSun Holdings. Prior to that, he was an executive director at the Goldman Sachs Asia-Pacific Research Media and Internet team. Before joining Goldman Sachs, Mr. Low worked as a program manager for Johnson Controls Inc., managing Toyota vehicles interior development in the United States. He subsequently joined Sybase Inc., an enterprise software company in the United States, as a program manager in its Global Products Group. He received his Bachelor of Science degree in Industrial Engineering and Motion Picture Production from the University of Wisconsin-Madison and an MBA from Columbia Business School in the United States.
The appointment became effective on July 20, 2011 and is pursuant to stock purchase and shareholder agreements that were closed on January 13, 2011 between VisionChina Media, Focus Media and other investors, and which entitled Focus Media to nominate one designee to VisionChina Media's board of directors.
About VisionChina Media Inc.
VisionChina Media Inc. (Nasdaq: VISN) operates an out-of-home advertising network on mass transportation systems, including buses and subways. As of March 31, 2011, VisionChina Media's advertising network included 137,395 digital television displays on mass transportation systems in 23 of China's economically prosperous cities, including Beijing, Shanghai, Guangzhou and Shenzhen. VisionChina Media has the ability to deliver real-time, location-specific broadcasting, including news, stock quotes, weather and traffic reports, and other entertainment programming. For more information, please visit http://www.visionchina.cn .
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
Mr. Colin Wang
Investor Relations Director
VisionChina Media Inc.
Phone: +86-135-1001-0107
Email: colin.wang@visionchina.cn
Mrs. Helen Plummer
Investor Relations Advisor
VisionChina Media Inc.
Tel: +86 139-1167-2124
Email: helen.plummer@visionchina.cn
In the United States:
Ms. Jessica Barist Cohen
Ogilvy Financial, New York
Tel: +1-646-460-9989
E-mail: jessica.cohen@ogilvypr.com
