China MediaExpress Holdings, Inc. Renews Its Agreement with Hunan Satellite Television Station to Obtain Free Entertainment Content

FUJIAN, China--(BUSINESS WIRE)--China MediaExpress Holdings, Inc. (NASDAQ GS: CCME) (“CME” or “Company”), China’s largest television advertising operator on inter-city and airport express buses, today announced that it has renewed its existing agreement with Hunan Satellite Television (operated by Hunan Satellite Programming Company Limited), to obtain free entertainment content.

This two-year arrangement which will commence on September 1, 2010, will allow CME to continue to obtain quality entertainment programming from Hunan Satellite Television at no cost. All of the terms of this agreement remain the same as the terms of the original contract.

Zheng Cheng, CME’s Founder and CEO, noted, “We are happy to renew our agreement with Hunan Satellite Television, which is one of the most popular satellite TV channels in China. Our passengers will continue to view their favorite programs in the bus and at home. Having high approval ratings from our passengers for the programs that we display to make the trip a more enjoyable experience has always been our goal. These ratings have also provided our advertising clients with the platform they are seeking to promote their brands to a wider audience, which would otherwise be more difficult or expensive to reach through conventional distribution channels.”

About CME

CME, through contractual arrangements with Fujian Fenzhong, an entity majority owned by CME’S former majority shareholder, operates the largest television advertising network on inter-city and airport express buses in China. While CME has no direct equity ownership in Fujian Fenzhong, through the contractual agreements CME receives the economic benefits of Fujian Fenzhong’s operations. Fujian Fenzhong generates revenue by selling advertisements on its network of television displays installed on over 22,700 express buses originating in fifteen of China’s most prosperous regions, including the four municipalities of Beijing, Shanghai, Tianjin and Chongqing and eleven economically prosperous regions, namely Guangdong, Jiangsu, Jiangxi, Fujian, Sichuan, Hebei, Anhui, Hubei, Shandong, Shanxi and Inner Mongolia which generate over half of China’s GDP.

CME is included in the Russell Global Index. For more information visit: www.ccme.tv.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 (the “Securities Act”), as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements include, but are not limited to statements regarding expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this report may include, for example, statements about:

• The Company’s goals and strategies;
• The Company’s future prospects and market acceptance of its advertising network;
• The Company’s future business development, financial condition and results of operations;
• Projected changes in revenue, costs, expense items, profits, earnings, and other estimated financial information;
• The Company’s ability to manage the growth of its existing advertising network on inter-city express buses and expansion to prospective advertising network on high speed railways;
• Trends and competition in the out-of-home advertising media market in China;
• Changes in general economic and business conditions in China; and
• Chinese laws, regulation and policies, including those applicable to the advertising industry.