| Enjoy Media Continues Expansion of Outdoor Advertising Business by Acquisition of ZhiRui |
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| Tuesday, 01 November 2005 | |
Enjoy Media Continues Expansion of Outdoor Advertising Business by Acquisition of ZhiRuiHONG KONG, CHINA, (NAMC) - Enjoy Media Holdings Limited (Pink Sheets:EJYM) announced today that it has signed an agreement to acquire 60% of Guangzhou ZhiRui Advertising Limited ("ZhiRui"). ZhiRui manages outdoor advertising displays at prime locations around Guangzhou, China such as shopping districts, highways to Guangzhou airport and various commercial centers. The total consideration, US$1,361,386, is to be settled by restricted common shares of Enjoy Media subject to satisfactory due diligence. The acquisition adds to Enjoy Media's growing outdoor display and billboard advertising business. ZhiRui, a privately-held company in Guangzhou, China, manages outdoor advertising displays around the city of Guangzhou. It also covers advertising design and marketing services. ZhiRui's advertisers are major consumer brands such as Samsung, Panasonic, Hitachi, Dell, China Telecom, and Toshiba. ZhiRui expects to increase its outdoor advertising revenue to at least US$600,000 with a net profit of US$250,000 in 2006. About Enjoy Media Holdings Limited Enjoy Media is a media and advertising holding company based in Guangzhou, China. It provides a unique medium within its restaurant networks reaching the young urban and white-collar audience, in Chinese cities of Guangzhou, Shanghai, Beijing, and Shenzhen. It also has investments in other outdoor and digital advertising companies in China. Its advertising clients include: China Telecom, China Mobile, China Unicom, Wrigley, Siemens, Samsung, Dell, MTV, numerous other consumer brands, and real estate developers. For more information, please visit http://www.enjoymedia.com. Forward looking statement Certain information contained in these materials is "forward-looking" information, such as projections, estimates, pro formas, or statements of intentions, expectations or plans. All forward-looking information is subject to known and unknown risks and uncertainties, many of which are outside of the control of the company. Consequently, actual results may, and probably will, differ materially from the results contemplated in such forward-looking information. Contact: |
