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China New Media Corp. Announces Billboard Acquisition in Shenyang

DALIAN, China Jan. 24, 2011 Dalian, China Shenyang RMB 3 million (US$ 455,000)

March 2011 RMB 5 million (US$ 759,000)

Liaoning Qingnian Street Shenyang

Shenyang Liaoning Province th China Shenyang

James Wang Shenyang Shenyang Shenyang Shenyang

About China New Media Corp.

September 2000 Northeastern China Dalian Metro Lines

Forward-Looking Statements

This press release may contain certain " forward-looking statements " within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are " forward-looking statements " , including statements regarding our management s expectations, hopes, beliefs, intentions or strategies regarding the future, including our financial condition, the growth of our business, the Company s ability to meet its obligations under its various contracts; the timeliness of payments and other economic benefits the Company expects to receive under such contracts; and the Company s ability to maintain its customer relationships and to maintain its ability to pursue its commercial objectives. In addition, the Company North America Western Europe s results may be adversely affected by changes in the political and social conditions in the PRC and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation. These forward-looking statements are often identified by the use of forward-looking terminology such as " believes, " " expects " or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov . Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Company Contact:

Rita Jiang

Executive Vice President of Finance

Tel:   +1- 646-691-5047

Email: R [email protected]

Investor Relations Contact:

Dave Gentry

RedChip Companies, Inc.

Tel: + 1-800-733-2447 x 104

Jon Cunningham

RedChip Companies, Inc.

Tel:   + 1-800-733-2447 x 107

Email: [email protected]

Web:   http://www.redchip.com

SOURCE China New Media Corp.

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