China Mass Media Announces Share Repurchase Program

China Mass Media Announces Share Repurchase Program

BEIJING, Sept. 30 /PRNewswire-Asia-FirstCall/ -- China Mass Media Corp.
("China Mass Media" or the "Company") (NYSE: CMM), a leading television
advertising company in China, today announced that its board of directors has
approved a share repurchase program.

Under the terms of the approved program, China Mass Media may repurchase
up to US$6.0 million worth of its issued and outstanding American Depositary
Shares ("ADSs"). Any repurchase will be made from time to time on the open
market at prevailing market prices, in negotiated transactions off the market,
in block trades, pursuant to a 10b5-1 plan or otherwise in compliance with
applicable laws. The timing and extent of any repurchases will depend upon
market conditions, the trading price of ADSs and other factors, and be subject
to the restrictions relating to volume, price and timing under applicable laws,
including Rule 10b-18 under the United States Securities Exchange Act of 1934,
as amended. China Mass Media expects to implement this share repurchase
program over the next 12 months in a manner consistent with market conditions
and the interest of the shareholders. China Mass Media's board of directors
will review the share repurchase program periodically and may authorize
adjustments of its terms and size accordingly. China Mass Media plans to fund
repurchases made under this program from available cash balances.

Mr. Shengcheng Wang, Chairman and Chief Executive Officer of China Mass
Media, commented, "We are pleased that our Board approved this new share
repurchase program as it reflects confidence in the future growth of our
business and our ongoing commitment to increase shareholder value. The
company's healthy balance sheet and strong operating cash flows will allow it
to both implement this program, and to invest in other projects in order to
achieve future growth and maximize value for our shareholders."

About China Mass Media Corp.

As a leading television advertising company in China, China Mass Media
provides a full range of advertising services, including advertising agency
services, creative production services, public service announcement
sponsorship services, and other value added services. The Company currently
offers approximately 482 minutes of advertising time slots per day on CCTV
Channels 1, 2, 4, E and F. CCTV is the largest television network in China.
The Company has produced over 380 advertisements and has won a number of
prestigious awards in China and across the world, including the "Gold World
Medal" at The New York Festivals(R) International Television & Film Awards.
http://www.chinammia.com

For further information, contact:

China Mass Media International Advertising Corp.

China Mass Media
Julie Sun
Vice President of Corporate Development
Tel: +86-10-8809-1050
Email: juliesun@chinammia.com

Christensen
Beijing:
Tip Fleming
Tel: +852-9212-0684
Email: tfleming@ChristensenIR.com

United States:
Linda Bergkamp
Tel: +1-480-614-3004
Email: lbergkamp@christensenIR.com
SOURCE China Mass Media Corp.

China Mass Media Corp.

CONTACT: China Mass Media International Advertising Corp., China Mass Media, Julie Sun, Vice President of Corporate Development, +86-10-8809-1050, or juliesun@chinammia.com; Or Christensen, Beijing: Tip Fleming, +852-9212-0684, or tfleming@ChristensenIR.com; United States: Linda Bergkamp, +1-480-614-3004, or lbergkamp@christensenIR.com

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

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