CXN/Bio-Tracking Releases Quarterly Filings.

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 BALANCE SHEETS
                              Unaudited
                                                      March 31,
                                                        2004
                       ASSETS                        -----------
 Current Assets:
 Cash                                                $       676
 Sales Tax Receivable                                         --
 R&D Refundable Tax Credits                              212,308

 Total current assets                                    212,924
 Fixed Assets                                             25,672
 Goodwill                                              4,762,020

 Total assets                                        $ 5,000,616

         LIABILITIES AND STOCKHOLDERS' EQUITY
 Current Liabilities:
  Accounts payable                                   $        --
  Due to officers and employees                           38,463
  Loan payable                                                --

 Total current liabilities                                38,463

 Contingencies
 Stockholders' Equity:
  Common stock, $.001 par value; authorized
  500,000,000 shares; 30,000,000  preferred issued
  and outstanding 337,865,401 shares and
  140,395,401 shares, respectively                       337,866

 Paid-in capital deficiency                            6,815,147
 Accumulated deficit during development stage         (2,190,860)

 Total stockholders' equity                            4,962,153

 Total liabilities and stockholders' equity          $ 5,000,616


          CHINA XIN NETWORK MEDIA CORPORATION AND SUBSIDIARY
                    (A DEVELOPMENT STAGE COMPANY)
            CONSOLIDATED INTERIM STATEMENTS OF OPERATIONS
                    AND COMPREHENSIVE INCOME (LOSS)

                              Unaudited

                    For the Period    For the Period    Cumulative
                    January 1, 2004   January 1, 2003   Oct. 19, 2000
                    March 31, 2004    March 31, 2003    March 31, 2004
                    ---------------   ---------------   --------------
 Sales:
 Income               $     --          $      --         $    34,616
 Expenses:
  Selling, general and
   administrative     $    50,002       $   331,384       $ 2,225,476
  Loss Before Provision
   for Income Taxes       (50,002)         (331,384)       (2,190,860)
  Provision for Income
   Taxes
  Comprehensive Net
   (Loss)                  (50,002)         (331,384)      (2,190,860)
  Net Loss Per Common
   Share              $      (0.00)           (0.003)          (0.006)
 Fully Diluted        $      (0.00)           (0.003)          (0.006)
 Weighted Average
  Common Shares
  Outstanding          337,865,401       104,452,401       337,865,401
                    ---------------   ---------------   --------------
 Fully Weighted Average
  Common Shares
  Outstanding          353,905,735       113,826,068       353,905,735
                    ---------------   ---------------   --------------



          CHINA XIN NETWORK MEDIA CORPORATION AND SUBSIDIARY
                    (A DEVELOPMENT STAGE COMPANY)
     CONSOLIDATED INTERIM STATEMENTS OF STOCKHOLDERS' DEFICIENCY
        FOR THE PERIOD FROM OCTOBER 19, 2000 TO MARCH 31, 2004

                              Unaudited
                                             Accumulated
                                             Deficit
           Common                Additional  during the
           Stock                 Paid-in     Development Stockholders'
           Shares       Amount   Capital     Stage         Deficiency
          -----------  --------  ----------  -----------   ----------

 Balance at
 June 30,
 2003     115,902,401  $115,903  $1,011,849  $(2,063,966)  $ (936,214)
          -----------  --------  ----------  -----------   ----------
 Loss for
 the Period
 July 1,
 2003 to
 March 31,
 2004         --          --         --         (126,894)    (126,894)
          -----------  --------  ----------  -----------   ----------
 Issuance
 of Common
 Stock for
 Debt &
 Services 121,963,000   121,963     969,792       --        1,091,755
          -----------  --------  ----------  -----------   ----------
 Issuance
 of Common
 Stock for
 Acquisition
 of Bio-
 Tracking 100,000,000   100,000   4,833,506       --        4,933,506
          -----------  --------  ----------  -----------   ----------

          337,865,401  $337,866  $6,815,147  $(2,190,860)  $4,962,153
          -----------  --------  ----------  -----------   ----------