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VisionChina Media Announces Appointment of Chief Financial Officer Scott Chen

2009-06-23 22:08 1023

BEIJING, June 23 /PRNewswire-Asia/ -- VisionChina Media, Inc. ("VisionChina" 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 Mr. Scott Chen as chief financial officer, effective immediately.

"We are pleased to welcome Scott Chen to our senior management team," said Mr. Limin Li, VisionChina Media’s chairman and chief executive officer. "Over the past few months, we have worked diligently to find the very best executive to fill this important role. Scott brings with him a strong financial background based in banking, a deep knowledge of the media industry as well as outstanding professional and academic credentials. Additionally, Scott has direct experience in our sector having worked on several large transactions within our immediate peer group. I am confident that Scott will leverage his experience and, together with the rest of our management team, continue to execute on our strategy of providing compelling television and advertising to the millions of commuters riding on mass transportation in China every day."

Mr. Chen joins VisionChina from the investment banking division of Nomura in Hong Kong where he served as an executive director and head of industry coverage for the Media sector. From 2002 to 2008, Mr. Chen worked at Lehman Brothers in Hong Kong where he started as a corporate finance generalist before shifting to the technology and media sectors. His investment banking experience spans equity, debt and M&A transactions for a variety of clients including outdoor media, online gaming, education and e-commerce companies. Prior to Lehman Brothers, Mr. Chen was a management consultant at Deloitte Consulting in Taipei, Taiwan from 1998 to 2000. He began his career at PricewaterhouseCoopers in their New York and San Francisco offices, where he worked as a management consultant from 1995 to 1998. Mr. Chen holds a Master of Business Administration with a major in finance from The Wharton School of the University of Pennsylvania as well as a Bachelor of Science in operations research from Cornell University. Mr. Chen will be based at the company’s headquarters in Shenzhen, China.

About VisionChina Media, Inc.

VisionChina Media Inc. (Nasdaq: VISN) operates an out-of-home advertising network on mass transportation systems, including buses and subways that reaches over 40 million viewers each day in China, according to CTR Market Research. As of March 31, 2008, VisionChina Media’s advertising network included 81,690 digital television displays on mass transportation systems in 18 of China’s economically prosperous cities, including Beijing, 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 registration statement on Form F-1 and 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 or media inquiries, please contact:

In China:

Mrs. Helen Plummer

Investor Relations Officer

VisionChina Media, Inc.

Tel: +86-10-8418-7475

Email: helen.plummer@visionchina.cn

Mr. Derek Mitchell

Ogilvy Financial, Beijing

Tel: +86-10-8520-6284

Email: derek.mitchell@ogilvy.com

In the United States:

Ms. Jessica Barist Cohen

Ogilvy Financial, New York

Tel: +1-646-460-9989

Email: jessica.cohen@ogilvypr.com

Source: VisionChina Media, Inc.
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