DALIAN, China, March 3, 2010 (GLOBE NEWSWIRE) -- China New Media
Corporation (OTCBB:CMDI), a fast-growing advertising media company
operating the largest outdoor media network in Dalian, China, today
announced it has entered into a cooperation agreement with Beijing
Shidai Lianxin Cultural Propagation Co., Ltd. to cooperate on the
nation's ''Strait Hundred-Screen Information Display Network'' project,
which entails the installation of around 100 large-size LED screens
throughout the core commercial zones, central business districts,
airports and surrounding areas of Beijing. These large-size LED screens
will be used primarily for advertising media operations, and the
remaining time slots will broadcast cultural information between China
and Taiwan for a minimum of 15 years.

James Wang, chief executive officer and chairman of China New Media
Corp., commented: "We are very pleased with this cooperation agreement
and its strategic meaning for our business expansion to Beijing, the
capital city of China. This project will allow us to tap into the
top-tier national market and dialogue directly with customer
headquarters. As the political and cultural center of China, Beijing
has extensive market resources and strong advertising demand.
Meanwhile, the scope of this project is large enough to catapult the
company to be the leader in the outdoor LED media market and bring us
widespread brand recognition. We believe the Beijing market opportunity
provides operational advantages superior to other cities and provides a
more secure, higher rate of return on investment."

About China New Media Corp.

Founded in September 2000, Dalian Vastitude Media Group Co., Ltd., now
known as China New Media Corp., is headquartered in Dalian, the
commercial center of Northeastern China. The company owns and operates
the city's largest outdoor media network encompassing over 600 bus
shelters furnished with billboards and displays; 130 taxi stops with
displays; and 13 large-size billboards, including 3 large-size LED
displays at major traffic conjunctions. The company also furnishes more
than 400 buses with advertising posters and 28 metro-trains throughout
Dalian Metro Lines. China New Media provides comprehensive adverting
services from art design to ad publishing, from daily maintenance to
technical upgrading. Launched in Dalian in 2009, China New Media's
proprietary LED multimedia display network, City Navigator(R), is the
country's first web-based outdoor advertising network.

Forward-Looking Statements

This press release may contain certain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of
1995. All statements, other than statements of historical fact included
herein are "forward-looking statements", including statements regarding
the Company's ability to meet its obligations under its various
contracts; the timeliness of payments and other economic benefits the
Company expects to receive under such contracts; and the Company's
ability to maintain its customer relationships and to maintain its
ability to pursue its commercial objectives. In addition, the Company's
operations are conducted in the PRC and, accordingly, are subject to
special considerations and significant risks not typically associated
with companies in North America and Western Europe such as risks
associated with, among others, the political, economic and legal
environment and foreign currency exchange. The Company's results may be
adversely affected by changes in the political and social conditions in
the PRC and by changes in governmental policies with respect to laws
and regulations, anti-inflationary measures, currency conversion,
remittances abroad, and rates and methods of taxation. These
forward-looking statements are often identified by the use of
forward-looking terminology such as "believes," "expects" or similar
expressions, involve known and unknown risks and uncertainties.
Although the Company believes that the expectations reflected in these
forward-looking statements are reasonable, they do involve assumptions,
risks and uncertainties, and these expectations may prove to be
incorrect. Investors should not place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. The Company's actual results could differ materially
from those anticipated in these forward-looking statements as a result
of a variety of factors, including those discussed in the Company's
periodic reports that are filed with the Securities and Exchange
Commission and available on its website at http://www.sec.gov. Other
than as required under the securities laws, the Company does not assume
a duty to update these forward-looking statements.


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