CXN/Bio-Tracking Releases Quarterly Filings Continued.

Business Editors/High-Tech Writers

MONTREAL--(BUSINESS WIRE)--May 27, 2004

China Xin Network Media Corp. (CXIN:OTCBB) released its quarterly filings for March 31, 2004.

          CHINA XIN NETWORK MEDIA CORPORATION AND SUBSIDIARY
                     (A DEVELOPMENT STAGE COMPANY)
             CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS

                               Unaudited

                                         For the Period
                           -------------------------------------------
                           Jan. 1, 2004   Jan. 1, 2003   Oct. 19, 2000
                           Mar. 31, 2004  Mar. 31, 2003  Mar. 31, 2004
                           -------------  -------------  -------------
 Cash Flows from Operating
 Activities:
  Net loss                  $   (50,002)   $  (331,384)   $(2,190,860)
  Adjustments to reconcile
   net loss to net cash
   provided by (used in)
   operating activities:
    Depreciation and
     amortization                    --         15,675             --
    (Increase) decrease in:
     R&D refundable tax
      credit                         --             --       (212,308)
     Sales tax receivable         6,388          7,860             --
     Accrued expenses                --         (4,875)            --
     Accrued expenses to
      related parties                --             --             --
     Accounts payable          (302,872)        14,000        302,872
     Prepaid and deposits            --            979             --
     Amounts due to
      officers                  135,505         38,334         38,463
     Amounts due to
      officers and
      Employees                      --        280,051             --
     Loss on disposal of
      assets                         --             --        121,153
 Net cash and cash
  equivalents provided by
  (used in) operating
  activities                   (210,981)        21,090     (1,940,270)

 Cash Flows from Investing
 Activities:
  Purchase of Goodwill      $(4,562,020)   $        --    $(4,762,020)
  Purchase of Capital
   Assets                            --        (21,389)       (25,672)
  Net Cash Used For
  Investing Activities      $(4,562,020)   $   (21,389)   $(4,787,692)




 Cash Flows from Financing
 Activities:
   Write-off deficit to
    Paid-in Capital         $        --    $        --    $   139,877
    Write-off comprehensive
     income to Paid Capital          --             --         10,807
    Write-off stock
     subscription receivable         --             --        196,349
    Decrease in short term
     loans                           --             --             --
    (Decrease) in loans-
     related party
    (Decrease) Increase in
     loans payable             (868,579)      (643,892)            --
   Increase in capital
    stock                       197,480         35,483        332,549
   Increase in paid-in
    capital                   5,439,716        608,409      6,048,996
 Net Cash from Financing
  Activities                  4,768,617             --      6,728,578

 Net (Decrease) Increase
  in Cash                        (4,384)          (299)           616
 Cash - Beginning of Period       5,000            469             --
 Cash - End of Period               616            170            616

 Supplemental Disclosure
 of Non-Cash Flow
 Information:
  Cash paid during the
   year for:
    Interest                         --             --             --
    Income Taxes                     --             --             --

Reduction of Loan Outstanding

There were 100,000,000 restricted Shares issued on January 4, 2004 to complete The acquisition of Bio-Tracking. At which time a note for $868,569 was cancelled Which was issued as collateral until the shares were ready for delivery from the Transfer agent. Furthermore the shares for the Agreement of the settlement of Debts of CXN with 3884368 Canada Inc. were issued in January 2004.