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SHANGHAI, Sept. 23 /PRNewswire-Asia/ -- Focus Media Holding Limited
(Nasdaq: FMCN), China's leading multi-platform digital media company, today
announced changes to its board members.
Dr. Tan Zhi (a non-independent director) and Mr. Jimmy Wei Yu (a
non-independent director) resigned from the board.
The Company further announced the appointment of Mr. Alex Deyi Yang, its
current acting chief financial officer, as a non-independent director to its
board of directors.
"We would like to express our gratitude to Dr. Tan Zhi and Mr. Jimmy Wei
Yu for their great dedication to Focus Media especially the intelligence and
the experience they brought in the development of our business," said Jason
Jiang, chairman and chief executive officer of Focus Media. "On behalf of the
company, we wish to thank Dr. Tan and Mr. Yu for their services to the Company
and to wish them well in the future."
Jason Jiang further commented, "We are also pleased to add Alex Deyi Yang
to our board of directors as he has unique experiences and knowledge with
regard to our company. As our general counsel since August 2004 and acting
chief financial officer since January of this year, Alex has been actively
involved in all of the material transactions of our company since before our
initial public offering and played a very important role in the management
team of our company."
SAFE HARBOR: FORWARD-LOOKING STATEMENTS
This press release includes statements that may constitute forward-looking
statements made pursuant to the safe harbor provision of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar statements.
Focus Media may also make written or oral forward-looking statements in its
periodic reports to the U.S. Securities and Exchange Commission on forms 20-F
and 6-K., in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers, directors or
employees to third parties. Statements that are not historical facts,
including statements about Focus Media's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve inherent risks
and uncertainties that could cause actual results to differ materially from
the forward-looking statements. A number of important factors could cause
actual results to differ materially from those contained in any
forward-looking statement. Potential risks and uncertainties include, but are
not limited to, risks outlined in Focus Media's filings with the U.S.
Securities and Exchange Commission, including its registration statements on
Form F-1, F-3, F-6 and 20-F, in each case as amended. Focus Media does not
undertake any obligation to update any forward-looking statement, except as
required under applicable law.
This release is not an offer of securities for sale in the United States.
Securities may not be offered or sold in the United States absent registration
or an exemption from registration. Any public offering of securities to be
made in the United States will be made by means of a prospectus that may be
obtained from the issuer or selling security holder and that will contain
detailed information about the company and management, as well as financial
statements.
ABOUT FOCUS MEDIA HOLDING LIMITED
Focus Media Holding Limited (Nasdaq: FMCN) is China's leading
multi-platform digital media company, operating the largest out-of-home
advertising network in China using audiovisual digital displays, based on the
number of locations and number of flat-panel television displays in our
network, and is also a leading provider of mobile handset advertising and
Internet marketing solutions in China. Through Focus Media's multi-platform
digital advertising network, the company reaches urban consumers at strategic
locations and point-of-interests over a number of media formats, including
audiovisual television displays in buildings and stores, advertising poster
frames and other new and innovative media, such as outdoor light-emitting
diode or LED digital billboard, mobile handset advertising networks and
Internet advertising platforms. As of June 30, 2009, Focus Media's digital
out-of-home advertising network had approximately 128,000 LCD display and
digital frames in its commercial location network and approximately 285,000
advertising in-elevator poster and digital frames, installed in over 90 cities
throughout China, and approximately 130 outdoor LED billboard displays in
Shanghai and Beijing. For more information about Focus Media, please visit our
website at http://ir.focusmedia.cn .
SOURCE Focus Media Holding Limited
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