BEIJING, April 26 /Xinhua-PRNewswire/ -- Xinhua Finance Media ("XFMedia"; Nasdaq: XFML), China's leading diversified financial and entertainment media company, announced that its Print Group has signed exclusive agreements to provide content as well as sell advertising for two new regional direct mail magazines being launched by Hangzhou Telecom and Foshan Telecom, direct subsidiaries of China Telecom.
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Under the three-year agreements, XFMedia will provide high-end leisure, consumption & entertainment content for China Telecom's two bi-monthly magazines, one in Hangzhou and the other one in Foshan. The magazines are exclusively produced for China Telecom's VIP clients with average monthly spending over US$300. The total circulation in Hangzhou and Foshan is 10,000 and 5,000 copies respectively.
Xinhua Finance Media COO Mr Zhu Shan said the project is significant both in terms of potential revenues and expansion of distribution channels to reach XFMedia's targeted demographic of high net worth individuals. "It is a great honor that China Telecom trusts in our ability to provide quality content. We expect to expand the cooperation in other regions such as Zhejiang and Zhuhai in the near future." Mr Zhu said.
XFMedia's Print Group possesses exclusive advertising rights and provides consulting services for newspapers and magazines. It currently places content and advertisements through three in-house publications - Money Journal, Funds Observer, and Chinese Venture; as well as offering content to the Beijing Review, China's only weekly English news magazine. In addition, it is the exclusive advertising agent for The Economic Observer, one of China's most widely read financial newspapers.
About Xinhua Finance Media Limited
Xinhua Finance Media ("XFMedia"; Nasdaq: XFML) is China's leading diversified financial and entertainment media company targeting high net worth individuals nationwide. The company reaches its target audience via TV, radio, newspapers, magazines and other distribution channels. 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 keeping people connected and entertained.
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 www.xinhuafinancemedia.com.
Xinhua Finance Media is a subsidiary of Xinhua Finance Limited ("XFL"; TSE Mothers: 9399), China's premier financial information and media service provider. XFL owns 36.9% of the equity and 85.4% of the voting rights of XFMedia through its holding of class B common shares, which have ten votes per share. The investing public, the company's China partners, executives and staff own class A common shares in the company with one vote per share. The dual-class common share structure was created to accommodate the regulatory landscape of China's media sector.
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, expectations about the Chinese advertising market and 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 are 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 April 19, 2007, and XFMedia undertakes no duty to update such information, except as required under applicable law.
For more information:
China
Xinhua Finance Media
Ms Joy Tsang
Tel: +86-21-6113-5999
Email: joy.tsang@xinhuafinancemedia.com
United States
Richard Lewis Communications, Inc.
Mr Gregory Q. Tiberend
Tel: +1-212-827-0020
Email: gtiberend@rlcinc.com
