China Crescent Enterprises, Inc. CEO Reviews $19.2 Million YTD Revenue and Fourth Continuous Profitable Quarter Driving Toward 2008 $50 Million Profitable Revenue Goal

DALLAS, TX--(Marketwire - August 20, 2008) - China Crescent Enterprsies, Inc. (OTCBB: CCSE) CEO Paul K. Danner conducted a Webcast yesterday to review second quarter and year-to-date financials for 2008. An archive of the Webcast is available at:

Last week, the Company filed SEC Form 10-Q for the second quarter of 2008. As part of the second quarter results, the Company reported $19.2 million in revenue for the first six months of 2008, reflecting an 11% increase in revenue over the first six months of 2007. Notably, net income for the first six months of 2008 was $321 thousand compared to a loss of $22 thousand for the same period last year. These results also represent four continuous quarters of profitability for the Company with continued revenue growth. The Company's forecasted revenue for 2008 is $50 million.

Additional Highlights from the Webcast Include:

--  Revenue for 2nd quarter 2008 increased 5% from 2nd quarter 2007
    ($10.7m v. $10.2m)
--  Net income (before currency translation) for 2nd quarter 2008  was
    $265k compared to  loss of $5k for 2nd  quarter 2007
--  Stockholders' equity increased 45% from same quarter last year ($3.7m
    v. $2.6m)
--  Focus on higher margin business sectors, including managed services
    and hardware repair
--  Continuing fundamental financial maturity and momentum towards $50
    million 2008 revenue goal

Further Information on China Crescent Enterprises

China Crescent is a U.S. corporation currently providing Information Technology infrastructure in China to both the private and public sector. The Company recently changed its name to better position itself in the Chinese market, and a Fact Sheet on the Company's updates and operations is now available.

If you are interested in receiving a copy of the Fact Sheet, please email or call China Crescent Investor Relations at or 214-722-3065, with your full name, telephone number, e-mail address, city, state and country.

Corporate E-mail Updates

To be added to China Crescent's e-mail database to receive company updates or to obtain more information on the Company, please send an e-mail to or call 214-722-3065.

About China Crescent Enterprises, Inc. (

China Crescent Enterprises, Inc. is a technology leader in the rapidly developing Chinese market specializing today in software engineering, high quality software development and digital multimedia outsourcing services delivered to customers globally. At the same time, the firm is a systems integrator and value added reseller of major global hardware brands in the Chinese domestic market.

Headquartered in Dallas with operations in Shanghai and Beijing, China Crescent bridges the gap between Western and Eastern business cultures to assist western clients in realizing the advantages of the high quality, low cost technology products and services available from China. China Crescent also assists Western clients in localizing products and services to realize the tremendous growth potential available by expanding into the Chinese Market.


This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause China Crescent's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.

Contact Information: Contact: China Crescent Enterprises, Inc. 214-722-3065