Xinhua Finance CEO Issues a Statement
21 May 2007 - 11:22PM
PR Newswire (US)
SHANGHAI, China, May 21 /Xinhua-PRNewswire/ -- In response to the
media coverage over the weekend, Xinhua Finance Chief Executive
Fredy Bush issued the following statement: Xinhua Finance Media
listed on NASDAQ after complying fully with all disclosure and due
diligence processes required in the United States. Furthermore, the
Company engaged the most qualified independent advisers available
to oversee this process. We have an internal committee co-chaired
by John McLean, General Counsel of Xinhua Finance and Kevin
Cameron, President and co-founder of Glass Lewis, who continually
review the Group's corporate governance to make recommendations to
the independent Corporate Governance Board Committee of Xinhua
Finance Media and the Board of Xinhua Finance Limited. I look
forward to keeping investors and followers informed of our progress
and these ongoing initiatives. About the companies Xinhua Finance
Limited Xinhua Finance Limited is China's premier financial
information and media service provider and is listed on the Mothers
Board of the Tokyo Stock Exchange (symbol: 9399) (OTC ADRs: XHFNY).
Bridging China's financial markets and the world, Xinhua Finance
serves financial institutions, corporations and re-distributors
through five focused and complementary service lines: Indices,
Ratings, Financial News, Investor Relations, and Distribution.
Founded in November 1999, the Company is headquartered in Shanghai,
with offices and news bureaus spanning 14 countries worldwide. For
more information, please visit http://www.xinhuafinance.com/ .
About Xinhua Finance Media Limited Xinhua Finance Media ("XFMedia";
Nasdaq: XFML) is China's leading diversified financial and
entertainment media company targeting high net worth individuals
nationwide. The company reaches its target audience via TV, radio,
newspapers, magazines and other distribution channels. Through its
five synergistic business groups, Advertising, Broadcast, Print,
Production and Research, XFMedia offers a total solution empowering
clients at every stage of the media process and keeping people
connected and entertained. Headquartered in Beijing, the company
has offices and affiliates in major cities of China including
Beijing, Shanghai, Guangzhou, Shenzhen and Hong Kong. Xinhua
Finance Media Limited is a wholly owned subsidiary of Xinhua
Finance Limited. For more information, please visit
http://www.xinhuafinancemedia.com/ . About Glass Lewis Founded in
2003, Glass Lewis helps investors make more informed investment and
proxy voting decisions by identifying business, legal, governance
and financial statement risk at public companies. Glass Lewis also
facilitates proxy voting by institutional investors with the most
advanced and reliable proxy voting platform in the industry.
Headquartered in San Francisco, with offices in New York, London,
Tokyo and Denver, Glass Lewis serves many of the world's largest
and most respected institutional money managers, pension funds,
mutual funds and hedge funds. Glass Lewis' clients collectively
manage more than $11 trillion. Glass Lewis is a wholly owned
subsidiary of Xinhua Finance Limited. Safe Harbor Statement This
announcement contains forward-looking statements. These statements
are made under the "safe harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking
statements can be identified by terminology such as "will,"
"expects," "anticipates," "future," "intends," "plans," "believes,"
"estimates," 'confident' and similar statements. Among other
things, quotations from management in this announcement contain
forward-looking statements. XFMedia may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission on forms 20-F and 6-K, etc., in
its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about XFMedia's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties that could
cause actual results to differ materially from those contained in
any forward-looking statements. Potential risks and uncertainties
are risks outlined in XFMedia's filings with the U.S. Securities
and Exchange Commission, including its registration statement on
Form F-1. For more information Joy Tsang Tel: +86-136-2179-1577 /
+852-948-64364 Email: DATASOURCE: Xinhua Finance Limited; Xinhua
Finance Media Limited CONTACT: Ms. Joy Tsang, +86-21-6113-5999, or
+852-948-64364, , of Xinhua Finance Web Site:
http://www.xinhuafinance.com/
Copyright