Asia Global Holdings Corporation Subsidiary to Restructure TV Entertainment Business; 'Millionaire' Gets High Ratings in China; Company Dissatisfied With Sales and Distribution

Asia Global Holdings Corporation Subsidiary to Restructure TV Entertainment Business; 'Millionaire' Gets High Ratings in China; Company Dissatisfied With Sales and Distribution

LOS ANGELES, Feb. 15 /PRNewswire-FirstCall/ -- Asia Global Holdings Corporation (BULLETIN BOARD: AAGH) subsidiary China Media Power (CMP) Board of Directors in a meeting today decided to stop producing new episodes of the highly rated Chinese version of "Who Wants To Be A Millionaire" due to the poor performance of the sales and distribution team.

The high quality production of "Who Wants To Be A Millionaire" in China has delivered excellent ratings in Guizhou province and shows strong distribution potential. For the period September 29th to November 24th the show ranked 2nd in Guizhou province where its market share reached a peak of 10.3% according to CSM, a major market research company in China, topping all major broadcasters including CCTV, Phoenix TV and Hunan Satellite TV.

"The show and its ratings are excellent however the sales and distribution team has performed very poorly. We have 29 shows in inventory but we will not produce any new episodes unless the sales and distribution problems can be solved" stated a company spokesperson.

According to CEO Michael Mak, AAGH and its subsidiary Idea Asia will continue to seek TV entertainment opportunities in China. "We continue to believe there is a strong and growing market for high quality TV entertainment in China. We also know that we must improve our sales and distribution performance to capitalize on the opportunities. We will take the necessary actions to meet this objective".

Asia Global Holdings Corporation Website: http://www.asiaglobalholdings.com/

Forward-looking statements in this document are not historical fact as "forward-looking statements" as that term is defined in the Private Securities Litigation Reform of 1995. Forward-Looking statements are not guarantees of future performance. Our Forward-Looking statements are based on trends we anticipate in our industry and our good faith estimate on the effect on these trends of such factors as industry capacity, product demand, and product pricing. These statements are also subject to risks and uncertainties beyond our reasonable control that could cause actual business and results of operations, to differ materially from those reflected in our forward looking statements. You may find all other information about Asia Global Holdings Corporation on the Securities Exchange Commission website, http://www.sec.gov/.

First Call Analyst:
FCMN Contact: Transmedia@aol.com

Source: Asia Global Holdings Corporation

CONTACT: Investor Relations of Asia Global Holdings Corporation,
+1-213-243-1503, ir@AsiaGlobalHoldings.com

Web site:

http://www.asiaglobalholdings.com/

-------
Profile: intent