Network CN Coordinates Out-of-Home Olympic Media Network with BAMC for Earthquake Recovery Effort
Provides advertising time on 11,000 advertising panels in six major Chinese cities
NEW YORK, May 20, 2008 / Business Wire / — Network CN Inc. (OTC Bulletin Board: NWCN – News), a Chinese media company headquartered in Hong Kong, today outlined its response to the massive May 12 earthquake in Central China’s Sichuan province.
Network CN is coordinating an out-of-home advertising network in six cities to provide the public with up-to-the-minute government television programming focused on the earthquake and its aftermath, as well as information on how to donate to China Red Cross relief and recovery efforts. The Company provides time each day for programming from government television network CCTV, plus public service announcements from the China Ministry of Civil Affairs and the China Red Cross for at least the remainder of May, possibly extending into June.
Through a recent arrangement between the Beijing Olympic Committee and BAMC (Beijing All Media and Culture Group), the designated promoter of the 2008 Beijing Summer Olympics, Network CN is assigned to serve as representative for BAMC’s LCD display advertising for Olympic year 2008. In response to the May 12 earthquake, Network CN has donated time on the entire combined network, comprising over 11,000 advertising panels nationwide, for government and charity messages related to the earthquake and recovery efforts.
BAMC is the largest media company in Beijing and a State-owned enterprise operating under the authority of the Publicity Bureau of the CPC Beijing Municipal Committee. BAMC’s LCD network in Beijing consists of nearly 11,000 in-building screens in governmental and office buildings, banks, hotels, hospitals and stadiums.
Network CN operates nearly 300 panels on its own, including several centrally located mega-size LED billboards, in Beijing, Shanghai, Qingdao, Wuhan, Nanjing and Hangzhou. The Company held a promotional conference in Beijing on May 16 to present its LCD advertising network to the Olympic sponsors.
“Rooted in China, Network CN is honored to help the government to distribute earthquake news and disaster recovery messages. If we connect a single significant donor with the China Red Cross through our efforts, we consider it worthwhile. Having built a world-class out-of-home advertising network across major cities of China, we cannot pass up the opportunity to use our assets for the public good in the face of the catastrophe in Central China,” commented Godfrey Hui, Chief Executive Officer of Network CN. “The whole country has mobilized its resources to help the victims of the earthquake, and we are privileged to be of service. The government-run television network CCTV has been providing coverage of unprecedented scale and comprehensiveness in response to the tragic earthquake. By running programming from CCTV, the China Ministry of Civil Affairs and the China Red Cross on our advertising panels, we are helping to get important information to many thousands of people every day.”
The formal commercial launch of the Company’s out-of-home media network is planned for some time in the coming weeks.
Please refer to Network CN’s website (http://www.ncnmedia.com) for additional details.
About Network CN Inc.
Headquartered in Hong Kong, Network CN Inc. is building a multi-media, multi-application out-of-home advertising network in the key cities of China. As of March 31, 2008, the Company had obtained rights to install and operate 14 mega-size advertising billboards and 12,984 roadside advertising panels in 10 cities in China. The first phase of its network, consisting of 10 mega-size LED billboards, 117 roadside LED panels, 167 light boxes and one mega-size roller-sheet billboard, recently underwent successful beta testing in preparation for commercial launch.
This press release includes statements that may constitute “forward- looking” statements, usually containing the word “believe”, “estimate”, “project”, “expect”, “plan”, “anticipate” or similar expressions. Forward- looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, risks related to the Company’s agreement with BAMC, risks attending the build- out of the Company’s media network more generally, acceptance of the Company’s products and services in the marketplace, competitive factors and changes in regulatory environments. These and other risks relating to Network CN Inc. business are set forth in the Company’s Quarterly Report on Form 10-QSB filed with the Securities and Exchange Commission on May 15, 2008, and other reports filed from time to time with the Securities and Exchange Commission. By making these forward-looking statements, Network CN Inc. disclaims any obligation to update these statements for revisions or changes after the date of this release.
Stanley Chu, General Manager
Network CN Inc.
Sean Collins, Senior Partner