Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent Enterprises, Inc. to Review $0.30 Suggested Fair Value Target PPS in Exclusive Webcast Following Successful Outsourcing Summit in Shanghai
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - October 13, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
has scheduled an exclusive, on-demand Webcast for release this Thursday,
October 15th to report on the senior management outsourcing summit in
Shanghai that is currently underway. The Webcast is anticipated to include
a review of outsourcing contract opportunities that may bring the Company's
outsourcing sales to as high as $60 million for 2009 and a review of the
Company's previously announced $0.30 suggested fair value target price per
share. Earlier today, China Crescent announced, that as part of the
meetings scheduled this week, the Company has met with a pending new
outsourcing client in Dalian, China to discuss terms for an anticipated $15
million contract to provide back office and strategic technology services.
Also, this week, the Company reviewed its first major outsourcing agreement
signed earlier this year worth $30 million over three years. The Company
has received high marks from the client and news that the total revenue
value could exceed the originally anticipated $30 million. The client's
business has been enhanced as a result of the project, and consequently,
the services required from China Crescent could expand as early as next
year. Initial estimates suggest the total contract value could increase to
as high as $50 million over three years.
A link to the Webcast is scheduled to be available on the Company's website
www.chinacrescent.com upon release.
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About China Crescent Enterprises, Inc. (www.chinacrescent.com)
China Crescent Enterprises, Inc. reported over $40 million in profitable
revenue in 2008. The Company 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.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995
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.