Greater China Media & Entertainment Corporation Subsidiary Organize Siemens Event

Greater China Media & Entertainment Corporation Subsidiary Organize Siemens Event

BEIJING, May 28 /Xinhua-PRNewswire/ -- Greater China Media & Entertainment Corporation (BULLETIN BOARD: GCME) , an integrated professional media and entertainment company, recently organized an event for Siemens China that was sponsored by Beijing Aries Culture Communication Co., Ltd. The contract for the event was valued at US $10,000. For the fiscal year 2008, Racemind has signed a total contract value of approximately US $1.7 million. Siemens China accounts for US $212,000 of this total, with Dentsu at US $430,000 and Microsoft China accounting for US $300,000.

Reflecting on Racemind's year to date, CEO Jake Wei said, "I'm excited that Racemind has been able to achieve so much in just a few months. We are very pleased to be extending our long-standing relationship with Siemens China, whose top management and well developed services and products make it a world leader in information, communication and many other business sectors. With continued support of clients like Siemens China, we are confident that Racemind will quickly become one of the leading public relations companies in China."

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 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, as well as sales and advertising agencies acquired 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). Racemind specializes 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. This 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 TV production and distribution:
-- GCME signed a trust agreement with Beijing Jin Ying Xiang Media
Culture Limited Corp. to produce 'Rose Thorn', a 24-episode TV
series. The series is now in shooting.
-- GCME-signed stars appear in the 'Invincible' TV series.
-- GCME closed a 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 recently finished shooting.

Racemind HuaDing
-- Released 2007 Chinese Film Industry Overview.
-- Released Contracts Achievement for January, February, March and April
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; changes and developments in the Chinese and North American markets as well as changes in regulatory matters; our business strategies and future operation plans; market acceptance and volume of sales of our products and services; our historical losses; the competitive environment in 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.

For more information, please contact:

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

Source: Greater China Media and Entertainment Corporation

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

Web Site: http://www.greaterchinamedia.com/

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