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VisionChina Media Inc. Announces Signing of Exclusive Five-Year Contract with Guangzhou Subway, a New Three-Year Contract with Shenyang Buses as well as the Addition of Three Metro Lines to its Existing Shenzhen Subway Network Contract for the Next Five Years

2011-04-28 18:43 1165

BEIJING, April 28, 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 that the Company has renewed its exclusive contracts to operate its digital mobile television advertising network on Guangzhou subway for the next five years and on Shenyang buses for the next three years. Further, the Company announced that it has signed a contract to add three new subway lines to its existing subway network in Shenzhen for the next five years.

The new five-year exclusive contract in Guangzhou will be effective May 1, 2011. The new contract grants VisionChina Media the exclusive right to operate its digital mobile television advertising network on the five existing subway lines and new extensions of those lines, as well as on three new subway lines in Guangzhou. With this contract in place, VisionChina Media will operate on no less than 10,025 digital mobile television screens on all eight subway lines in Guangzhou.

Additionally, VisionChina Media renewed a contract with Liaoning Beidou Xingkong Digital Television Media Co., Ltd., granting the Company the exclusive right to operate its digital mobile television advertising on Shenyang's bus network for the next three years. This contract went into effect April 1, 2011.

The five-year contract for Shenzhen's three new subway lines will be effective July 1, 2011 and grants VisionChina Media the exclusive right to operate digital mobile television advertising on no less than 5,416  screens in Shenzhen's subway network.

Mr. Limin Li, VisionChina Media's chairman and chief executive officer, said, "The Guangzhou and Shenzhen subway media platforms, which operate in two of China's four Tier 1 cities, are of great strategic importance to VisionChina Media as they represent a significant portion of mobile television advertising spending in China. The signing of two exclusive contracts in these cities once again solidifies our near 100% market share in China's subway mobile television sector."

Li continued, "Furthermore, the addition of three new subway lines to our subway network in Shenzhen greatly enhances our network coverage in that city. With the 2010 Guangzhou Asian Games behind us, we look forward to the opening of the 26th Universiade in Shenzhen in August 2011. As the mobile television media platform of choice in China's urban public transit system, VisionChina Media is once again poised to demonstrate our ability to broadcast real time television programming that commuters enjoy, as well as our ability to attract the world's finest advertisers. We are also pleased with the successful renewal of our bus contract in Shenyang, which serves as the center of China's northeastern region and is strategically important to us."

Li concluded, "While actively managing the quality and diversity of our media resources in key regions of China, VisionChina Media will continue to effectively execute ongoing media cost control measures in 2011."

Guangzhou, the capital city of Guangdong province, had 10.3 million residents as of the end of 2009. According to official statistics, Guangzhou's GDP reached RMB911.3 billion (approximately US$140.2 billion) in 2009, ranking the city number three among cities in mainland China.

Shenzhen, where VisionChina Media's headquarters are located, had 8.9 million residents as of the end of 2009. According to official statistics, Shenzhen's GDP reached RMB820.1 billion (approximately US$126.2 billion) in 2009, ranking the city number four among cities in mainland China.  

Shenyang, the capital city of Liaoning Province, had 7.9 million residents as of the end of 2009. According to official statistics, Shenyang's GDP reached RMB435.9 billion (approximately US$67.1 billion) in 2009, ranking the city number 15 among cities in mainland 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. As of February 28, 2011, VisionChina Media's advertising network included 126,948 digital television displays on mass transportation systems in 22 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 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 and media inquiries, please contact:

 

 

 

 

Mr. Colin Wang

 

 

Investor Relations Director

 

 

VisionChina Media Inc.

 

 

Tel: +86-135-1001-0107

 

 

Email: colin.wang@visionchina.cn

 

 

 

 

Mrs. Helen Plummer

 

 

Investor Relations Adviser

 

 

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

 

 

 
Source: VisionChina Media Inc.
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