Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent Enterprises, Inc. Signs $36 Million Letter of Intent to Provide Outsourcing Services
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - October 15, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
today announced that the Company has signed a letter of intent to provide
outsourcing services to Aoyuan Electronic Co. ltd in Dalian, China, for $36
million over three years. China Crescent previously announced a $15
million letter of intent to provide outsourcing services to this company
and, during the scheduled meetings this week, the scope of the agreement
increased. The letter of intent announced today has replaced the
previously announced letter of intent.
China Crescent has been conducting a series of meetings across four cities
in China this week in conjunction with the Company's scheduled outsourcing
management summit, primarily aimed at reviewing and developing the
Company's growing technology outsourcing business. Earlier today, China
Crescent announced the close of the summit and posted a Webcast to review
the week's highlights. A link to the Webcast titled 'China Crescent
Outsourcing Summit Review Webcast' is available at www.chinacrescent.com
under Recent Webcasts.
China Crescent is a systems integration service provider in China that
provides technology outsourcing services and sells and services brand name
technologies such as Microsoft, Oracle, Cisco, IBM, HP and Dell in addition
to selling and servicing innovative new technologies.
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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.