BEIJING, May 3, 2007 (PRIME NEWSWIRE) -- Greater China Media & Entertainment Corporation (OTCBB:GCME), an integrated professional media and entertainment company headquartered in Beijing, China, today announced that its Chinese subsidiary has qualified as an approved public relations vendor for Microsoft China.
The Company has been appointed as an approved public relations vendor for Microsoft China. Based on current discussions and existing contractual relations with Microsoft China, the Company believes it will receive approximately 10 million RMB (approximately US$1.3 million) in 2007 to arrange conferences, new product press releases and events for Microsoft China. Currently, Microsoft China has contracted GCME's subsidiary to organize and host three events for its Microsoft Research Asia subsidiary in May and June. The total value of these contracts is approximately 4 million to 4.5 million RMB (approximately US$519,000 -- US$584,000).
Prior to its appointment as an approved vendor, the Company successfully organized press conferences for Microsoft China, including its recent 'Live Search' web tool service launch. The press conference showcased the launch of the new web tool to China Telecom's 25 million broadband customers.
"We are very proud to be selected by Microsoft China as an approved public relations vendor. This qualification establishes GCME as one of Microsoft China's preferred choices to assist them in executing their promotional and advertising events. In the past, Microsoft China has awarded as much as 100 million RMB to one of its experienced vendors," said Jake Wei, chairman and CEO of Greater China Media and Entertainment. " Through our previous efforts, such as the press conference organized by us to announce the 'Live Search' platform for Microsoft China and China Telecom, GCME has proven itself to be one of the top marketing and promotions companies in China. Our marketing solution is a battle-tested strategic model that has been successfully deployed for big brands in China, and we look forward to continuing to deliver the same high quality results for Microsoft China."
About Greater China Media & Entertainment Corporation:
Greater China Media & Entertainment Corp. is an integrated professional media and entertainment company which covers various areas including film and TV program production, management, promotion and distribution. The Company will have its own film and television production center, promotion agency, audio-visual distribution company, digital network company, talent agency, and sales and advertising agency as a result of recent joint ventures. Together the team is capable of making films, TV programs and related projects on a large scale.
In June 2006, the Company signed and closed an Acquisition Agreement with Triumph Research Limited, which is a BVI company and party to a Joint Venture Agreement with Beijing Tangde International Film and Culture Co., Ltd. ("Tangde"), a Chinese company focused on producing TV programming and movies. In September 2006, the Company formed a joint venture with Beijing New-Element Co. Ltd., a promotion and marketing company based in Beijing. The Company also signed an agreement with Beijing Star King Talent Agency, Star Agency, to form a joint venture. For more information please visit the Company website at www.greaterchinamedia.com
Forward-looking statements
This report contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this report are forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors; developments of the Chinese and North American markets and changes in regulatory matters; our business strategies and future plans of operations; the market acceptance and amount of sales of our products and services; our historical losses; the competitive environment within the industries in which we compete; and our ability to raise additional capital, currently needed for expansion.
The Company cautions that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements due to several important factors.