China Southern Launches New Financial Budget Management IT System; ``Paper is Dead'' For China's Largest Airline; Accounting Streamlined.

ZHUHAI, China -- China Southern Airlines (NYSE:ZNH) (HKSE:1055) (SHA:600029) -- www.cs-air.com/en -- the largest airline in The People's Republic of China is pleased to announce that it has recently launched an all-new Financial Budget Management (FBM) system.

China Southern Airlines made this announcement at the opening of next week's Airshow China in Zhuhai.

The all-new and highly advanced computerized system was jointly developed by the airline's Financial and IT departments and is aimed at streamlining the company's financial budget and internal management systems.

The Financial Budget Management system provides flexibility to China Southern's key financial management and "the successful operation of the system will further enhance the airliner's budget management standards," said Mr. Xu Jie Bo, Vice President & Chief Financial Officer, China Southern Airlines.

According to Mr. Xu, "this important new Financial Budget Management system has three functional modules: budget compilation, budget adjustment and budget analysis. Additionally, the system also manages China Southern's varied airline budgets for business, revenue, cost & expenditures, investment and fund raising."

Mr. Xu added that, "this FBM system offers the airline and its varied departments a highly efficient office platform, making up the insufficiency by manual operations and greatly reducing the work load of financial personnel and the business budgeting staff and further satisfying the needs of the company and the varied departments in storage, referring, transferring and exchanging of financial data."

The largest airline in The People's Republic of China for the past 25 years, China Southern Airlines - www.cs-air.com/en - connects more than 80 cities around the globe. Major business and vacation destinations served in China include: Beijing, Chengdu, Guangzhou, Guilin, Hong Kong, Kunming, Shanghai, Shenzhen and Wuhan, as well as international service, including: Amsterdam, Bangkok, Fukuoka, Hanoi, Ho Chi Minh City, Islamabad, Kuala Lumpur, Jakarta, Los Angeles, Manila, Melbourne, Moscow, Osaka, Paris, Penang, Phnom Penh, Seoul, Singapore, Sydney and Tokyo.

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