CXN Media Corporation Finalizes Agreement with CEInet - China's Authoritative Provider on the Study of Chinese Economy.

Business Editors

BEIJING, China--(BUSINESS WIRE)--May 14, 2003

China Xin Network Media Corp. (OTCBB.CXIN) a premiere provider of China-based analytical market research data and customized market research analysis, announced today that it has finalized a new, multi-year agreement with CEInet - China's Economic Information Network.

Entering into this agreement, China Xin Networks Media Corp. ("CXN") and CEInet Data Co. Ltd. ("CEInet") have furthered their bilateral commitment to providing market leading financial, economic, public policy and business matters of the People's Republic of China.

Key elements of the agreement include the following:

-- Multi-year, exclusive English Language relationship for CEInet

databases and information materials as provided by CEInet;

-- CXN has right of first refusal for CEInet's information in

languages other than Chinese and Chinese Ethnic Minorities'

language;

-- CEInet has agreed to place two senior representatives to

participate in CXN's Board of Directors;

-- CXN will assume responsibility and services associated with

CEInet's current English website "China Economy";

-- Where appropriate, CXN will assume responsibly for services

and client care of CEInet's existing English clients. CEInet

will receive compensation over a multi-year period commiserate 

upon billing of clients;

-- CXN and CEInet agree to establish a Joint Steering Committee 

to address sensitive issues including shared resources,

inter-company pricing, intellectual property rights, and other

joint strategic issues.

"We are very pleased to have finalized our strategic relationship with CEInet. By leveraging CEInet's established network of 150 data sources, 2000+ field resources, years of business history, and experienced market research team, we continue to execute our new strategy and build strong fundamentals for the future," said George Lee, CXN chairman and CEO. "With China's accession to the WTO, more and more companies are looking at the Chinese market and saying 'we need to know about doing business in China.' Now, CXN and CEInet can collaborate on providing an effective solution to better assist US and multinational clients decision making as it relates to the complexities of dealing within the business environment of the Peoples Republic of China."

Li Kai, Managing Director of CEInet Data Co. Ltd. said, "We are confident in the management of CXN Media and are pleased to continue our relations with them. Collectively, we both gain through this agreement and achieve mutual respect and business relations for our future. This is an exciting time for China, its businesses and its people. CXN and CEInet stand to gain from this, and we excited about the opportunity to build bigger and better relations, serve our clients and provide leading edge research as a result."

ABOUT CEInet Data Co. Ltd.

CEInet Data Co., Ltd. ("CEInet") was established in June 1996 by China's State Information Center and is entrusted with the development, maintenance, and operation of China Economic Information Network. CEInet's mission is to become China's authoritative and specialized economic information service provider, and to offer professional economic information services for decision makers of the government, enterprises, universities, and financial, research and overseas investment institutions. Through CEInet's proprietary physical network linking 31 provinces, 16 secondary and local cities, and a number of government, financial and news agencies across China, CEInet provides abundant, professional and authoritative information to support decision making for governments and enterprises on a global basis.

ABOUT CXN MEDIA CORPORATION

CXN MEDIA CORPORATION is a global provider of financial, economic and business information on the People's Republic of China. Through its partnership with the China Economic Information Network (CEInet), CXN sources, produces and customizes market research and business intelligence on the People's Republic of China. For more information about China Xin Network Media Corporation (OTCBB: CXIN), see www.cxnonline.com.

SAFE HARBOR STATEMENT

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements, contained in this release which are not historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties including, without limitation, demand and competition for the Company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the Company to generate cash flow from its operations and the ability of the Company to manage its operations.