Xinhua PR Newswire, the corporate press release distribution arm of the rapidly growing Xinhua Financial Network (XFN), today announced a new distribution web that will initially reach over 2,000 newspapers and trade outlets throughout the People's Republic of China.

  (Logo:  http://www.newscom.com/cgi-bin/prnh/20000306/PRNLOGO
   Logo:  http://www.newscom.com/cgi-bin/prnh/20021125/NYM130LOGO-b )

According to Ms. Fredy Bush, CEO of XFN, the introduction of the new service to Chinese companies as well as international firms doing business in China clears the way to reach the multitude of Chinese consumers, investors and specialized businesspeople in a land of over 1.3 billion.

"This is certainly a major step for China," said Ms. Bush, whose XFN inked an agreement with U.S. based PR Newswire in 2000. "Both public and private Chinese companies will now have an ability to tell their story in their own words through a proven business model used for almost 50 years in the West," she said in reference to PR Newswire's upcoming 50th anniversary in 2004. She added, "The creation of a China-wide distribution network fits strategically with Xinhua PR Newswire's mission to encourage quality information disclosure and transparency, both within China and across its borders to the West.

John M. Williams, Executive Vice President of Global Markets for PR Newswire, added, "Establishing a well-designed and reliable network for in-country information flow is essential to companies' growth. In China, we now have the ability to give companies precisely what they need so they can tell their stories to investors, potential partners and consumers. The network will also allow Western companies to target their news with equal precision."

The first-of-its-kind network includes some 500 newspapers throughout China and over 1,500 specialized industry publications and will be sent via proprietary network. The 60 top national newspapers in the network include authoritative business titles such as People's Daily Market News, Economic Daily, Financial News, Shanghai Securities News, Workers' Daily and China Business Times with a combined readership of over 10 million. Companies have the option to target their releases to certain geographic regions or individual cities to match their marketing objectives.

Mr. Bernie Holmbraker, Managing Director of Xinhua PR Newswire, said the service fills a critical need in China's evolving media industry. "Chinese companies are looking to increase their national public profile in the face of increased competition and the demand for greater information. And international companies are seeking to build their brands, increase their customer base and find new investors by targeting their messages to new audiences. This network provides an effective channel for these marketing and corporate messages."

"Chinese companies have recognized the need to build their exposure and manage their public image. One key element is providing a regular flow of information. Xinhua PR Newswire is an expert in this field with their worldwide distribution network. We find their service to be very effective in reaching the most relevant target audience," said Mr. Rick Xiao, PR Director of Qiao Xing Universal Telephone Inc.

According to Mr. Sheng Mingfu, editor-in-chief of Workers' Daily, a daily financial newspaper in China, the service will provide China business publications with a new and unique channel to access corporate news. "Our editorial team is always interested in information that is relevant and useful to our readers. The news from Xinhua PR Newswire is professional and timely and adds to the value we offer our readers."

Launched as a distribution service to more than 22,000 western media and over one million investment decision-makers in November 2002, Xinhua PR Newswire has also formed partnerships with key domestic players including the Jinan Economic Commission, the Shanghai Securities News and the China Business Times earlier this year.

About Xinhua PR Newswire

Xinhua PR Newswire is a venture created by Xinhua Financial Network and PR Newswire. Xinhua PR Newswire assists companies, public and private, in writing and distributing financial news releases to the media, financial community and general public in China and around the world. Xinhua PR Newswire is the result of a blending of complementary expertise, relationships and experience to enable both Chinese and international companies seeking foreign investments and achieving PR/marketing goals.

About PR Newswire Association LLC

PR Newswire Association LLC (www.prnewswire.com) provides electronic distribution, targeting and measurement services on behalf of some 40,000 customers worldwide who seek to reach the news media, the investment community and the general public with their up to the minute, full-text news developments. Established in 1954, PR Newswire has offices in fourteen countries and routinely sends its customers' news to outlets in 135 countries in 27 languages. Utilizing the latest in communications technology, PR Newswire content is considered a mainstay among news reporters and investors as well as increasing numbers of private individuals. PR Newswire is a subsidiary of United Business Media plc of London.

About Xinhua Financial Network

Xinhua Financial Network (XFN) is an independent financial service and media company based in Hong Kong providing financial information and unique access to Chinese and Asian markets. XFN provides real-time coverage of the Chinese and Asian equity markets and the corporate and economic news that moves them, delivering an integrated platform of indices, financial news feeds, credit ratings and investor relations services to global financial institutions and re-distributors via leased line, Internet and satellite technology. Early this year, the company acquired AFX-Asia Pte Ltd. and became immediately one of the leading financial news services in Asia, providing information from twelve bureaus throughout Asia and Australasia, for the professional investment community and the investing public.

Founded in 2000, XFN is backed by a select group of partner investors and is managed by a team of international business professionals recognized for their industry knowledge and proven leadership. The company is owned by a group of international shareholders including PR Newswire, informa, Xinhua News Agency, Nippon Venture Capital, REFCO and Funai Venture Capital. XFN is a Hong Kong corporation, with offices in Beijing, Shanghai, Shenzhen, Korea, Taiwan, Japan, Singapore and North America. For more information, see www.xfn.com.

   For corporate information contact:
   Joy Tsang, Corporate and Investor Communications Manager,
   Xinhua Financial Network at 852.3102.3983 or joy.tsang@xfn.com

   Rachel Asche, Director, Public Relations,
   PR Newswire at 212.282.1929 or 646.295.5401 or
   rachel_asche@prnewswire.com

   Jason Rando, The Ruth Group on behalf of PR Newswire,
   at 646.536.7025 or jrando@theruthgroup.com

   For sales inquiries contact:

   Karen Fang, China Manager, Xinhua PR Newswire
   at 8610.6515.7681 or karen_fang@xinhuaprnewswire.com

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20000306/PRNLOGO
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20021125/NYM130LOGO-b
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840

SOURCE: PR Newswire Association LLC; Xinhua Financial Network