China Crescent Enterprises, Inc. Files Information Statement With SEC in Strategy to Reduce Potential Issuance of New Common Stock, Build Investor Confidence and Boost PPS in Operation With Over $40 Million in Annual Revenue

Details to Be Discussed in Corporate Webcast Scheduled for Friday, March 27th

DALLAS, TX--(Marketwire - March 25, 2009) - China Crescent Enterprises, Inc. (OTCBB: CCSE) has filed a definitive Form 14C Information Statement with the Securities and Exchange Commission (SEC) and has mailed a copy of the definitive information statement to its stockholders of record. The Company filed a preliminary information statement on January 9, 2009 regarding a comprehensive recapitalization of the Company intended as part of a strategy to build investor confidence and boost share price. Management believes the current share price does not reflect the Company's operational performance. The Company's trailing 12 months revenue as of September 2008 was approximately $42 million with a net income of about $900,000. The Company's annual revenue in 2007 was $40 million with a net income of $400 thousand.

The definitive information statement filed today addresses the Company's intention to decrease the number of outstanding shares of its common stock. In conjunction with this action, the Company is also negotiating a plan to effectively reduce the number of new common shares that can be issued under the current majority shareholder's preferred convertible stock agreement. Preferred convertible stock can be converted into common stock and increase the number of issued and outstanding common shares. Such increases or even the possibility of a potential increase in the number of issued and outstanding shares may have a negative effect on share price.

The plan currently being negotiated involves the Company's majority shareholder exchanging its current preferred convertible stock for two new classes of preferred stock. The larger of the two classes would be non-convertible. Therefore, the potential issuance of new common shares would be reduced accordingly. The second class of preferred stock, the smaller of the two classes, would be designated for a future conversion into common stock with plans to be used in a stock dividend distribution to the majority shareholder on a pro rata basis.

The majority shareholder, NewMarket Technology, Inc., is comprised of over 10,000 individual shareholders. The future conversion and planned stock dividend distribution of China Crescent common stock to the majority shareholder would substantially increase the number of China Crescent shareholders. Such an increase in the number of shareholders could potentially have a positive effect on the trading volume of China Crescent common stock.

Management plans to release further information regarding its strategy to build investor confidence and boost share price in the scheduled webcast on March 27, 2009.

Corporate Webcast Scheduled for Friday March 27, 2009

China Crescent has scheduled a webcast for Friday, March 27, 2009 to preview the upcoming 2008 financial report due March 31, 2009, report on Company updates and performance year-to-date and to discuss operational expectations for the remainder of 2009. The webcast will be available for review on demand, and a link to the webcast will be published on Friday.

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