SHANGHAI, April 11, 2008 /Xinhua-PRNewswire/ -- Xinhua Finance Limited (TSE Mothers: 9399) (OTC ADRs: XHFNY), announced that it has engaged investment bank Gleacher Partners to explore a range of alternatives to unlock the value in Xinhua Finance's portfolio of assets.
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"Xinhua Finance's position in the China market is a significant competitive advantage for the Company, and China is already the main source of our growth and our revenue. Therefore we have engaged Gleacher Partners to evaluate our business, consider options for expanding our focus on China, and allow our shareholders to benefit from Xinhua Finance's unique market position in China," XFL CEO Fredy Bush said.
For fiscal year 2007, over 55% of the Company's revenue and 70% of employees came from its China businesses. Ms Bush said that each of the Company's service lines has established a significant market leadership position in China over the eight years since the company was founded.
"We believe we are well positioned to seize further opportunities for growth as China continues to evolve. The Xinhua Finance board and management are very focused on shareholder value and believe that Gleacher Partners' involvement will enable us to further align our business strategy to take better advantage of our strengths in the China market," Ms. Bush added.
For more information, please visit http://www.xinhuafinance.com .
About Gleacher Partners
Established in 1990, Gleacher Partners is a leading independent investment bank providing corporate strategic advice and investment management services. The firm has built its reputation by remaining focused on its core principles: committing senior partners to every aspect of a transaction, avoiding the traditional conflicts of interest that often exist within larger financial institutions and handling all client matters with the highest degree of confidentiality and independence. Since its founding, Gleacher Partners has advised clients on over $200 billion of M&A transactions and distinguishes itself by providing independent, senior-level attention in the most complex and challenging situations.
Employing over 50 professionals, Gleacher Partners is headquartered in New York with offices in Atlanta and Connecticut. Through its sister company in London, Gleacher Shacklock, the Company is able to offer clients seamless advice on a global basis. For more information, please visit http://www.gleacher.com .
About Xinhua Finance Limited
Xinhua Finance Limited ("XFL") is China's premier financial information and media service provider and is listed on the Mothers Board of the Tokyo Stock Exchange (symbol: 9399) (OTC ADRs: XHFNY). Bridging China's financial markets and the world, Xinhua Finance's proprietary content platform, comprising Indices, Ratings, Financial News, and Investor Relations, serves financial institutions, corporations and re-distributors worldwide. Through its subsidiary Xinhua Finance Media Limited (Nasdaq: XFML), XFL leverages its content across multiple distribution channels in China including television, radio, newspaper, magazine and outdoor media. Founded in November 1999, XFL is headquartered in Shanghai, with offices and news bureaus spanning 11 countries worldwide.
Safe Harbor Statement
This announcement contains forward-looking statements that involve a number of risks and uncertainties. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. A number of factors could cause actual results, performance, achievements of the Company or outcome of the matters discussed herein to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.
Potential risks and uncertainties include, but are not limited to, risks outlined in XFL's filings with the Tokyo Stock Exchange, including its Securities Report (Yuho) for 2006. All information provided in this press release is as of the date hereof, and XFL undertakes no duty to update such information, except as required under applicable law.
