Legend Media's Subsidiary Enters into an Advertising Contract with Hainan Boao Kasen Property Development Co., Ltd. for RMB 1,980,000 (US$290,025)
BEIJING, April 21 /PRNewswire-Asia/ -- Legend Media (OTC Bulletin Board: LEGE) ("Legend Media" or "the Company"), a Chinese multi-media advertising company, today announced that its subsidiary, Beijing Yin Se Ling Dong Advertising Co., Ltd., has signed an advertising contract with Hainan Boao Kasen Property Development Co., Ltd. in the amount of RMB 1,980,000 (approximately US $290,025 based on the exchange rate as of the date of this press release) for its Boao Asia Bay Project.
Kasen Property is a wholly owned subsidiary of the parent company Kasen International Holdings Limited (HK0496). Founded in 1995 and headquartered in Hong Kong, Kasen International Holdings has developed into a large-scale global corporation with nearly 50 holding, participating stock subsidiary companies. With these companies, it has formed a diversified industrial structure within the upholstered furniture, furniture leather and automotive leather manufacturer leather industry while maintaining real estate development and agriculture investment as a focus.
On 20 October 2005, Kasen was successfully listed on the main board of the Stock Exchange of Hong Kong, with stock code HK0496. As a subsidiary of Kasen International Holdings Limited, Kasen Property is mainly engaged in property investment and development, and its sole business strategy of comprehensive real estate development is unique in the industry. Kasen Property has entered into a wide range of areas including Zhejiang, Jiangsu, Hunan, Anhui, Xinjiang, Sichuan, Hainan, Australia etc. to carry out substantive development and project investment. The current land area under development is more than 988 acres. Hainan Boao Kasen Property Development Co., Ltd. is the project company of Kasen Property in Hainan Province, and the Boao Asia Bay project, managed by the company, is a large-scale coastal property with the functions of tourism, sightseeing, vacation, business conference etc. combined into one as a whole. The project is located in Boao, where the World-renowned annual Boao Forum for Asia is held.
Boao Asia Bay is a landmark community on the Eastern coast of Hainan Island. The project itself introduces the overall planning and design concept of "Six Buildings Six Islands," showing a perfect combination of Boao's unique natural resources and Southeast Asian architectural culture. Accompanied by the Boao landmark community, the project includes 6 "wave-type" high-rise apartments which are nearly 100 meters tall, making Boao Asia Bay a complex combination of resort and lifestyle living beyond duplication.
Mr. Ju Baochun, Chief Executive Officer and Director of Legend Media, commented, "We are very pleased to have signed a contract with Hainan Boao Kasen Property Development Co., Ltd. to help promote their Boao Asia Bay project, a very unique and exciting community development on the Hainan Island. We look forward to working with them and providing excellent promotional service to our new client."
About Legend Media
Website: www.legend-media.com
Legend Media, Inc. (OTCBB:LEGE), headquartered in Beijing, is a leading China advertising company focused on selling advertising that reaches affluent consumers in China through major airline magazines and radio channels in key districts of China. The Company currently owns an exclusive sales agent contract for Expression, the airline magazine for Hainan Airlines Group (HNA Group). With the execution of the policy of building Hainan into an International Tourist Island, there will be more business opportunities for the airline magazine. What's more, the airline magazine is distributed to a network of the subsidiary hotels of HNA Group, which enables the airline magazine to reach about 20 million Chinese consumers per year.
Aside from the main business, Legend Media owns two radio stations in Tianjin and Xi'an. The execution of the policy of developing the Ring Bohai Economic Circle brings Tianjin opportunities to further develop, which enable the radio media to have great potentials to grow. Xi'an is an old city in China and with the development of Xi'an economy, the radio business of Xi'an will have new business opportunities.
Legend Media will continue to develop a sales network and strive to cover and eventually reach the most valuable direct advertisers in China and expand the sales business of the Company through the acquisition of new and good-quality media.
Safe Harbor Statement
This press release contains certain statements that may include 'forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes, expects, anticipate, optimistic, intend, will" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact:
Lauren Milner
American Capital Ventures
Tel: +1-305-918-7000
Email: [email protected]
SOURCE Legend Media, Inc.
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