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Xinhua Finance Media set for US ADR offering

February 27, 2007

Xinhua Finance Media Limited, a provider of financial news and data on China’s markets, is planning to raise $371.5 million in a share offering in the United States to repay debt and finance acquisitions.

The company plans to sell 23.1 million American depositary shares for $12 to $14 each and has applied to list them on the Nasdaq stock market under the symbol XFML, the Shanghai-based Xinhua Finance Media said.

Xinhua Finance, the parent company of Xinhua Finance Media Limited, artly owned by China’s state-run Xinhua News Agency, has been expanding in the United States.

The Tokyo-listed Xinhua Finance had agreed in December 2006 to buy a San Francisco- based investment research company for $45 million. In July 2005, Xinhua Finance had bought the economic and political advisory firm, Washington Analysis, for $224.2 million.

Xinhua Finance Media made a net income of $3.34 million in 2006 on revenues of $59 million. After paying dividends to preferred shareholders, the company had a loss of 8 cents a share.

The company is selling 17.3 million shares, while insiders filed to sell 5.77 million. Each depositary share represents two common shares.

After the sale, the company will be 37% owned by Xinhua Finance, 8% by the New York-based Patriarch Partners Media Holdings, and 5.8 by Fredy Bush, Xinhua Finance Media’s chairman and chief executive officer.

Proceeds will be used to pay $50 million to the parent company for buying Xinhua Finance Advertising, control of Beijing Century Media Culture and for future acquisitions.

Xinhua Finance Media Limited is a leading diversified media company in China. It assembled and built a group of media assets and strategic partnerships to achieve what the company calls “the best in class” media and advertising services across various sectors of the media business in China.






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