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Legend Media's
Subsidiary Enters into an Advertising Contract with Hainan Boao Kasen Property
Development Co., Ltd. for RMB 1,980,000 (US$290,025)
BEIJING, April 21 /PRNewswire-Asia/
-- Legend Media (OTC Bulletin Board:LEGE.ob - News) ("Legend Media" or
"the Company"), a Chinese multi-media advertising company, today announced
that its subsidiary, Beijing Yin Se Ling Dong Advertising Co., Ltd., has
signed an advertising contract with Hainan Boao Kasen Property Development
Co., Ltd. in the amount of RMB 1,980,000 (approximately US $290,025 based
on the exchange rate as of the date of this press release) for its Boao
Asia Bay Project.
Kasen Property is a wholly
owned subsidiary of the parent company Kasen International Holdings Limited
(HK0496). Founded in 1995 and headquartered in Hong Kong, Kasen International
Holdings has developed into a large-scale global corporation with nearly
50 holding, participating stock subsidiary companies. With these companies,
it has formed a diversified industrial structure within the upholstered
furniture, furniture leather and automotive leather manufacturer leather
industry while maintaining real estate development and agriculture investment
as a focus.
On 20 October 2005, Kasen
was successfully listed on the main board of the Stock Exchange of Hong
Kong, with stock code HK0496. As a subsidiary of Kasen International Holdings
Limited, Kasen Property is mainly engaged in property investment and development,
and its sole business strategy of comprehensive real estate development
is unique in the industry. Kasen Property has entered into a wide range
of areas including Zhejiang, Jiangsu, Hunan, Anhui, Xinjiang, Sichuan,
Hainan, Australia etc. to carry out substantive development and project
investment. The current land area under development is more than 988 acres.
Hainan Boao Kasen Property Development Co., Ltd. is the project company
of Kasen Property in Hainan Province, and the Boao Asia Bay project, managed
by the company, is a large-scale coastal property with the functions of
tourism, sightseeing, vacation, business conference etc. combined into
one as a whole. The project is located in Boao, where the World-renowned
annual Boao Forum for Asia is held.
Boao Asia Bay is a landmark
community on the Eastern coast of Hainan Island. The project itself introduces
the overall planning and design concept of "Six Buildings Six Islands,"
showing a perfect combination of Boao's unique natural resources and Southeast
Asian architectural culture. Accompanied by the Boao landmark community,
the project includes 6 "wave-type" high-rise apartments which are nearly
100 meters tall, making Boao Asia Bay a complex combination of resort and
lifestyle living beyond duplication.
Mr. Ju Baochun, Chief
Executive Officer and Director of Legend Media, commented, "We are very
pleased to have signed a contract with Hainan Boao Kasen Property Development
Co., Ltd. to help promote their Boao Asia Bay project, a very unique and
exciting community development on the Hainan Island. We look forward to
working with them and providing excellent promotional service to our new
client."
About Legend Media
Website: www.legend-media.com
Legend Media, Inc. (OTCBB:LEGE.ob
- News), headquartered in Beijing, is a leading China advertising company
focused on selling advertising that reaches affluent consumers in China
through major airline magazines and radio channels in key districts of
China. The Company currently owns an exclusive sales agent contract for
Expression, the airline magazine for Hainan Airlines Group (HNA Group).
With the execution of the policy of building Hainan into an International
Tourist Island, there will be more business opportunities for the airline
magazine. What's more, the airline magazine is distributed to a network
of the subsidiary hotels of HNA Group, which enables the airline magazine
to reach about 20 million Chinese consumers per year.
Aside from the main business,
Legend Media owns two radio stations in Tianjin and Xi'an. The execution
of the policy of developing the Ring Bohai Economic Circle brings Tianjin
opportunities to further develop, which enable the radio media to have
great potentials to grow. Xi'an is an old city in China and with the development
of Xi'an economy, the radio business of Xi'an will have new business opportunities.
Legend Media will continue
to develop a sales network and strive to cover and eventually reach the
most valuable direct advertisers in China and expand the sales business
of the Company through the acquisition of new and good-quality media.
Safe Harbor Statement
This press release contains
certain statements that may include 'forward-looking statements' as defined
in the Private Securities Litigation Reform Act of 1995. These forward-looking
statements are often identified by the use of forward-looking terminology
such as "believes, expects, anticipate, optimistic, intend, will" or similar
expressions. Such forward-looking statements involve known and unknown
risks and uncertainties that may cause actual results to be materially
different from those described herein as anticipated, believed, estimated
or expected. 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 and available from the Securities and Exchange Commission. All forward-looking
statements attributable to the Company or persons acting on its behalf
are expressly qualified in their entirety by these factors. Other than
as required under the securities laws, the Company does not assume a duty
to update these forward-looking statements.
For
more information, please contact:
Lauren Milner
American Capital Ventures
Tel: +1-305-918-7000
Email:
info@amcapventures.com
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