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Vision China Media Signs Exclusive Contract with Shanghai Metro

2008-07-23 17:07 1416


BEIJING, July 23 /Xinhua-PRNewswire/ -- VisionChina Media Inc.

(Nasdaq: VISN), one of China’s largest mass transportation mobile television advertising networks, today announced that it has signed an exclusive contract with Shanghai Shentong Metro Asset Operation and Management Corporation, the asset management arm of Shanghai Metro, to act as the exclusive advertising agent for two of Shanghai’s 11 subway lines effective beginning July 1, 2008. The contract grants VisionChina Media the exclusive rights to provide planning, production, sales and placement services to Shanghai Metro’s 292 digital screens installed on the platforms of subway lines 8 and 9.

The largest out-of-home digital TV network operator in China, VisionChina Media, was the first company to identify mass transit systems as a core platform for the development of out-of-home digital TV. VisionChina now runs ads on public bus and subway systems in 17 of China’s most economically vibrant cities. The contract with Shanghai Metro has enabled VisionChina Media to establish its presence on both buses and subways in all of China’s four Tier I cities -- Beijing, Shanghai, Guangzhou and Shenzhen -- which attract approximately 60% of China’s total advertising budget.

"The Shanghai Metro has important strategic significance for VisionChina Media. We have been seeking opportunities to cooperate with Shanghai’s public bus and metro operators for some time," says Limin Li, chairman and chief executive officer of VisionChina Media. "The opportunity came when there was a public bidding for TV advertising in the stations of subway lines 8 and 9. We were able to secure the exclusive TV advertising agent contract because of VisionChina Media’s overall strength in delivering for network partners. We are very excited about this breakthrough and look forward to establishing long-term partnerships with Shanghai’s public bus and subway systems."

Ms. Dina Liu, VisionChina Media’s chief financial officer, added, "As one of the most populous and prosperous cities in China, Shanghai is a key advertising market and is very important to our company’s growth. We are extremely proud to have brought Shanghai into our expanding network of cities."

At the end of 2007, Shanghai had a population of 13.79 million with a disposable income per capita of RMB23,623, approximately US$3,236, the highest in China. The city is also ranked first in the nation in terms of GDP, boasting a GDP of RMB1.2 trillion, approximately US$165 billion, in 2007. Shanghai Metro subway lines 8 and 9 see traffic of approximately 271,000 people per day. The 292 digital screens installed on platforms of metro lines 8 and 9 are over 42 inches and broadcast 17 and 16 hours per day respectively.

About VisionChina Media Inc.

VisionChina operates an out-of-home advertising network on mass transportation systems, including buses and subways that reach approximately 26 million viewers each day in China, according to CTR Market Research. As of March 31, 2008, VisionChina’s advertising network included over 48,719 mobile digital displays on mass transportation systems in 15 of China’s most affluent cities, including Beijing, Guangzhou and Shenzhen. VisionChina has the unique 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 .

For investor and media inquiries, please contact:

In China:

Investor Relations Department, VisionChina Media, Inc.

Tel: +86-755-8831-8683

Email: ir@visionchina.cn

Mrs. Helen Plummer

Ogilvy Financial, Beijing

Tel: +86-10-8520-3090

Email: helen.plummer@ogilvy.com

In the United States:

Mr. Jeremy Bridgman

Ogilvy Financial, New York

Tel: +1-212-880-5363

Email: jeremy.bridgman@ogilvypr.com

Source: VisionChina Media, Inc.
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