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Waterville Research March Update For China Media Group Corporation

(EMAILWIRE.COM, March 16, 2007 ) New York, NY -- China Media Group Corporation (OTCBB: CHMD) has entered into the following Sales and Purchase agreements: March 2007 – China Media has entered into a Sales and Purchase agreement to acquire 100% of the issued and outstanding shares of Good World Investments Limited which owns 50% of the registered capital of Beijing Ren Ren Health Culture Promotion Limited. January 2007 – entered into a Sale and Purchase Agreement to purchase 18% of the registered capital of Guangzhou Waho Culture & Media Ltd. Detailed below are the press releases issued by CHMD.  Press Release 1: China Media Group Corporation Enters Sale and Purchase Agreement to Acquire 50% of Beijing Ren Ren Health Culture Promotion Limited China Media Group Corporation (OTCBB: CHMD) (“CMG”) announces that on March 13, 2007, it entered into a Sale and Purchase Agreement to acquire 100% of the issued and outstanding shares of Good World Investments Limited which owns 50% of the registered capital of Beijing Ren Ren Health Culture Promotion Limited (“BRR”). BRR is a company incorporated in the People’s Republic of China and is working with the Chinese Government on a benevolent project named “Great Wall of China Project” to promote health education and health awareness to the Chinese public. Mr. Con Unerkov, Chairman of China Media Group stated, “We are delighted to finalize this transaction which has taken a little over 12 months.  Its completion is a significant milestone for CMG.  We are excited to be involved in this important national health awareness and educational program. In this connection, BRR provides a strategic advertising platform for CMG to launch its advertising operations in China, and the unique ability to reach all corners of China under the benevolent program.” As a background, the Chinese Government has undertaken to the United Nations to promote health education and awareness on certain health issues such as Aids, Hepatitis, Disease Prevention, Children’s Health, etc. to 85% of its citizens by 2015.  The Chinese Government has set up an association to oversee this commitment made to the UN.  The association has appointed BRR to perform this benevolent work on behalf of the Chinese Government.  The United Nations project website is www.un.org/millenniumgoals/  The Great Wall of China Project website is http://www.unmdg.com Key Points:BRR can advertise nationwide covering the media: billboards, television, newsprint, magazines and internet.BRR is permitted to provide advertising both inside and outside of Hospitals in a controlled market.BRR is permitted to provide advertising in all residential estates in China.BRR is permitted to provide advertising on mobile hand held devices.The Great Wall of China Project is “exclusive to Ren Ren” to perform / achieve this milestone for the Chinese Government BRR has been busy on a number of initiatives and projects as per below:Beijing ChaoYang District – Approval to roll out over 600 outdoor billboards/signs in this very high profile district where the majority of foreign consulates, ministries and the 2008 Olympic Village are located.Beijing No. 6 Hospital – Outdoor advertising initially for 20 light boxes at Beijing No. 6 Hospital situated in the prestigious Dongcheng district which includes the Central Government of China, more than 20 State Departments, over 100 Bureau Departments, 200 Beijing City Committee and City Governmental Divisions.Street Light Boxes located on a road near Russian Embassy – Outdoor advertising in one of the most prosperous areas in Beijing on Dong-Zhi-Men-Bei-Zhong Road in the district of Dongcheng.  Initially to modify the existing 12 light boxes and to build another 12 on the adjacent side of the road.Dalian Goal Media Limited – Magazine advertising for the Chinese magazine “iVogue”.DreamWorks Movie & TV Culture Media Co. Ltd – Mobile TV and advertising in the Chinese province of Hunan.Harbin Shengdong Advertising Co. Ltd – Outdoor advertising in the city of Harbin. Mr. Pui Kit Lam, Chairman of BRR stated, “We are eagerly looking forward to working with China Media Group Corporation on the Great Wall of China Project and to launch the health awareness and education programs.  China Media will bring invaluable contacts outside of China to further our joint objectives of creating health awareness through education.  What better way than advertising and promotion through old and new media in China.  We have been talking to China Media for well over a year now and we look forward to working with the quality team that makes up the China Media Group.” Press Release 2: China Media Group Corporation Enters Sale and Purchase Agreement to Acquire 18% of Guangzhou Waho Culture & Media Co., Ltd. China Media Group Corporation (OTCBB: CHMD) (“CMG”) announces that on January 13, 2007, it entered into a Sale and Purchase Agreement with an independent third party to purchase 18% of the registered capital of Guangzhou Waho Culture & Media Co., Ltd (“GWCM”).  Pursuant to the Agreement, CMG will pay US$243,000, which will be paid by US$53,000 in cash and US$190,000 in common stock of CMG where this stock will be restricted securities within the meaning of Rule 144 under the Securities Act. GWCM was incorporated in the People’s Republic of China in August 2006.  Its mission is to become a leading new age “Online Advertising” and “Information Portal Website” for the Chinese Market.  It focuses in 5 specific areas: “Online Directories”, “Advanced Information Portals”, “Online Advertising”, “Print Media” and “Valued Added Services”. GWCM has recently executed a cooperative agreement with China TieTong Communications Co., Ltd. Guangdong Branch (“CTTG”) to be the “exclusive” partner to rollout its Yellow Pages Directory business (both print and online) together with all the associated advertising for China’s very lucrative Guangdong Province. The contract is effective for 8 years from 2006 to 2014 and is renewable for another 5 years upon expiry.  CTTG will make available use of their name and logo’s together with their full customer contact details as potential customers. CTTG is part of the China TieTong Communications Group (“CTT”), which is one of only 6 licensed telecom operators in the very lucrative but restricted China telecom market.  CTT has total assets in excess of RMB54.4 billion and 70,000 employees nationwide. Mr. Con Unerkov, Chairman of China Media Group stated, “We are delighted to make this investment into GWCM.  We believe GWCM could become one of China’s most recognized information portal websites.  The online directories and the associated online advertising revenue is a fast and growing business world wide.  In China, according to www.iresearch.com.cn, the online advertising market in 2006 was expected to grow at a rate of 48% from the previous year and is forecasted to grow 42% and 37% in 2007 and 2008, respectively.  It also indicates that 52% of the market is made up of small companies which show excellent potential for new / early entrants.” Mr. Unerkov also added, “This is our first investment into the online advertising and portal space.  GWCM will work very closely with our pending acquisition of Beijing Ren Ren to provide us with some very lucrative portals.  One such example will be the Health sector where Beijing Ren Ren is currently working with the Ministry of Health on the Great Wall of China program.  The key in this market is to find some way of attracting people to your website and we believe we have the strategy that will allow us to carve out our slice of this growing market.” For additional information:http://www.watervilleresearch.com/companies/media/302-1.html Michael Sweeneymike@watervilleresearch.com212-828-7373###This press release was issued through GroupWeb EmailWire.Com. For more information on press release distribution, go to http://www.emailwire.com.


Waterville Investment Research
Michael Sweeney

mike@watervilleresearch.com

Source: EmailWire.com


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