SinoMedia Acquires Remaining Stakes in Nationwide Public Service Advertising Broadcast Network

SinoMedia Acquires Remaining Stakes in Nationwide Public Service Advertising Broadcast Network

Deal gives SinoMedia full control of the fast-growing profitable player with diverse media resources

HONG KONG, Nov. 11, 2010 /PRNewswire-Asia/ -- SinoMedia Holding Limited
(HKEx stock code: 623), a leading privately-owned media advertising operator
in China providing nationwide TV advertising coverage for clients on China
Central Television Station and other media advertising resources, today
announced that the Group has acquired a combined 55% equity interest in
Beijing Taihe Ruishi Culture and Media Company Limited ("Beijing Taihe Ruishi")
from Beijing Taihe Ruishi's minority shareholders at an initial consideration
of RMB11.82 million in total. The purchase will be satisfied in cash funded by
the Group's internal resources.

Upon the completion of the acquisition, Beijing Taihe Ruishi, which
operates a nationwide public service advertising broadcast network of over 120
local television channels in China, will become a wholly-owned subsidiary of
CTV Golden Bridge. The acquisition not only will help streamline the
operations and decision-making process at Beijing Taihe Ruishi, but will also
help contribute greater profits to the Group by diversifying its revenue base
into local television channels.

The nationwide public service advertising broadcast network provides
customers an opportunity to establish their brand and corporate image at lower
costs compared with general TV commercials. It has already started making
profit contribution to the Group this year, and has potential of expanding its
business into other TV commercials than public service advertisements. Also,
various plans have already been scheduled to expand its network and genre of
programs in the coming years.

Mr. Chen Xin, Chairman of SinoMedia said: "The growth potential and past
performance of the national public service advertising broadcast network have
given us strong confidence in its future prospect. Upon gaining full ownership
of the company, we will take steps to further strengthen its sales force and
expand the network to further enhance its profitability. We are confident that
all these will help ensure the sustainable growth of SinoMedia while
solidifying our leadership position in the industry."

SOURCE SinoMedia Holding Limited

SinoMedia Holding Limited

CONTACT: Crystal Yip, +852-2894-6211 or +852-9720-6445, crystal.yip@hillandknowlton.com.hk; or Li Long, +852-2894-6203 or +852-9242-3948, li.long@hillandknowlton.com.hk; both of Hill and Knowlton Asia Ltd. for SinoMedia Holding Limited

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