China Media1 Receives $2 Million Advance Payment.IRVINE, Calif. -- China Media1 Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CMDA CMDA Chennai Metropolitan Development Authority (India) CMDA Christian Medical & Dental Association CMDA Capital Markets Development Authority (Fiji) ), the owner and operator of premiere Chinese advertising media assets, including leading edge illuminated multiple scrolling poster displays, wishes to announce that it has received approximately US$ 2 million (16,000,000 RMB RMB Right Mouse Button RMB Regional Management Board (USACE) RMB Rolf Maier Bode (musician, band) RMB Ren Min Bi (currency of People's Republic of China) ) advance payment from Chi Shang Ling Yue Advertising Company Ltd. This is another payment further to the 10% down payment of about US$625,000 (RMB 5,184,000) announced in July. In April 2005, the Company signed a 1-year advertising contract with Chi Shang for US$6.25 million (RMB 51,840,000) for 30 outdoor area scrolling light boxes for their clients at the Guangzhou New Baiyun Airport. The list of clients for the Outdoor Ad space includes China Mobile, China Unicom and Ping An Insurance Ping An (Chinese: 中国平安; Pinyin: Zhōng Guó Píng An), full name Ping An Insurance (Group) Company of China, Ltd. , Samsung, and LG. This payment will be used to advance the development of the company's airport projects. About China Media1 Corp.: China Media1 Corp., headquartered in Irvine, California, has obtained rights to premiere Chinese advertising media assets in the city of Guangzhou in Southern China. Its affiliate, Guangzhou Chuangrun Advertising Company, operates the advertising space and advertising contracts with top-tier brand names and multi-national corporations as well as large advertising agencies. China Media1 has focused on providing its clients superior advertising locations based on viewership, exclusivity, and uniqueness through the use of its illuminated scrolling poster signs at the Guangzhou New Baiyun International airport Guangzhou Baiyun International Airport or Pai Yuen Airport was the main airport in Guangzhou, China, until August 5, 2004, when it was replaced by the identically named Guangzhou Baiyun International Airport, some 17 kilometers away. . China Media1's advertising locations include the Guangzhou New Baiyun International Airport and the Guangzhou MTR (12 Subway Stations). China Media1's website is www.chinamedia1corp.com. Forward Looking Statements: Any forward-looking statement in this press release is made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements involve risks and uncertain-ties including, but not limited to, economic and political factors, technological developments, regulatory matters and increased competition. The Company disclaims any obligation to update any such factors or to publicly announce results of any revisions to the forward-looking statements contained herein to reflect future events or developments. China Media1 Corp. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :CMDA) |
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