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XFMedia Clarifies Reissuance by a Newswire of Outdated News Stories

2008-03-11 21:49 703

BEIJING, March 11 /Xinhua-PRNewswire/ -- XFMedia (Nasdaq: XFML), a leading media group in China, today issued a statement on a newswire’s accidental reissuance of a number of outdated news stories, including three related to XFMedia. These articles were re-generated in error by a newswire, after technical problems arising from routine maintenance caused a number of archived stories from May 2007 to be transmitted in error last Saturday, between 15:52:26 GMT and 15:53:07 GMT. Certain of these stories were further picked up and redistributed by other media outlets.

The three stories appeared under the headlines: "Xinhua Finance Media sets 50 mln usd share buyback plan"; "China’s Xinhua Finance Media sets 50 mln usd share buyback plan - UPDATE"; "Xinhua Finance unit says US suit ‘without merit’". These news stories were originally released at Beijing Time 21:28 on 29 May 2007, 22:01 on 29 May 2007 and 23:24 on 23 May, 2007, respectively.

About Xinhua Finance Media

Xinhua Finance Media ("XFMedia"; Nasdaq: XFML) is a leading media group in China with nationwide access to the upwardly mobile demographic. Through its five synergistic business groups, Advertising, Broadcast, Print, Production and Research, XFMedia offers a total solution empowering clients at every stage of the media process and connecting them with their target audience. Its unique platform covers a wide range of media assets, including television, radio, newspaper, magazine, outdoor, online and other media assets.

Headquartered in Beijing, the company has offices and affiliates in major cities of China including Beijing, Shanghai, Guangzhou, Shenzhen and Hong Kong. For more information, please visit http://www.xinhuafinancemedia.com .

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of 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," ‘‘confident’’ and similar statements. Among other things, quotations from management in this announcement contain forward-looking statements. Statements that are not historical facts, including statements about XFMedia’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those contained in any forward-looking statements. Potential risks and uncertainties include, but are not limited to, risks outlined in XFMedia’s filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1. All information provided in this press release is as of the date hereof, and XFMedia undertakes no duty to update such information, except as required under applicable law.

Source: Xinhua Finance Media
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