Greater China Media & Entertainment Corp. Subsidiary Provides Services for China Guardian Auctions

Greater China Media & Entertainment Corp. Subsidiary Provides Services for China Guardian Auctions

BEIJING, March 31 /Xinhua-PRNewswire/ -- Greater China Media & Entertainment Corporation (BULLETIN BOARD: GCME - News) , an integrated professional media and entertainment company, announces that its subsidiary, Racemind HuaDing (Racemind), has entered into two service contracts with China Guardian Auctions Co., Ltd. (Guardian), one of the most influential auction firms in China.

For the first contract, Racemind will make 300 badges with Guardian's logo. For the second, Racemind will produce 1000 paperweights and the accompanying packaging. The contract value is approximately US $2,000 and US $44,000 respectively.

"We are very excited to be selected as the service provider for Guardian, one of the most influential auction firms in China," said Jake Wei, CEO of Greater China Media & Entertainment. "Guardian joins the ranks of some of our most prestigious customers such as Xin Hua, Siemens and Johnson & Johnson. I'm looking forward to building a successful long-term relationship with them."

China Guardian Auctions Co., Ltd., a national auction firm, was established in 1993. It specializes in the sale of Chinese artwork of all varieties, and holds major international Spring and Fall Auctions, as well as its Seasons Auctions series. It is not only being graded as an "AAA Auction Company", the highest honor in the industry, but has also been named a "Trustworthy Enterprise" by the Government Bureau of Commerce and Industry.

About Greater China Media and Entertainment Corporation:

Greater China Media & Entertainment Corp. ("GCME" or the "Company") is an integrated professional media and entertainment company covering various areas including film and TV program production, management, promotion and distribution. The Company maintains its own film and television production center, promotion agency, audio-visual distribution company, digital network company, talent agency, and sales and advertising agency as a result of recent joint ventures. With its broad range of media and entertainment talents, the Company is capable of making films, TV programs and related projects on a large scale.

Joint Ventures and Affiliated Entity:

In 2006, the Company formed a joint venture with Beijing Racemind HuaDing International Marketing Consultants Limited (Racemind) specializing in public relations, media strategy, consulting and event management services.

The Company signed an agreement with Beijing Star King Talent Agency to form a joint venture to carry on business as a talent agency. The joint venture is in process.

In March 2008, the Company obtained control of a local Chinese company called Beijing HuaDing Century International Cultural Limited Corp. ("Beijing HuaDing") to produce movies and TV series.

Milestones
Movie and television series productions and distributions
-- GCME signed a trust agreement with Beijing Jin Ying Xiang Media Culture
Limited Corp. to produce 'Rose Thorn', a 24-episode TV series.
-- GCME-signed stars appear in the 'Invincible' TV series.
-- GCME closed first round of private placement for US $1.6 million.
-- Signed a production and distribution deal with Mega Vision
Productions Limited for the new movie 'Tough Guy.'
-- Delivered its first script for its 'True Love' television
series to be directed by famed director Wong Jing.
-- Signed a production and distribution deal for its 'Poor Dad, Rich
Dad' television series with HuaYi Union Cultural Media Investment
Company Limited. The series wrapped up shooting recently.

Racemind HuaDing
-- Released 2007 Chinese Film Industry Overview.
-- Released Contracts Achievement for January and February 2008.
-- Signed service agreement with Siemens Ltd., China's Transportation
Systems group. Organized the 10th Anniversary Ceremony of Siemens
Management Institute.
-- Selected by Microsoft China as an approved public relations vendor.

For more information, please visit the Company website at http://www.greaterchinamedia.com/.

Forward-looking statements:

This report contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this report are forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors; developments of the Chinese and North American markets and changes in regulatory matters; our business strategies and future plans of operations; the market acceptance and amount of sales of our products and services; our historical losses; the competitive environment within the industries in which we compete; and our ability to raise additional capital, currently needed for expansion. The Company cautions that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements due to several important factors.

Source: Greater China Media & Entertainment Corp.

CONTACT: Jake Wei of Greater China Media & Entertainment Corp.,
+86-10-5921-2333

Web site:

http://www.greaterchinamedia.com/

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