PR Newswire and Xinhua Financial Network Create Venture to Help Chinese Companies Attract Foreign Investment

		PR NEWSWIRE AND XINHUA FINANCIAL NETWORK CREATE VENTURE Mr. Ma Yun Sheng, Chairman of Xinhua Financial Network (left) and Mr. Charlie Morin, Chief Executive Officer of PR Newswire, stand outside the offices of Xinhua PR Newswire, a new venture created to assist public and private Chinese companies in attracting foreign investments by creating a vehicle for the flow of corporate financial information directly to Western media and financial centers. (PRNewsFoto)[JL] BEIJING, LONDON AND NEW YORK CHN, GBR AND USA

		XINHUA PR NEWSWIRE LOGO Logo for Xinhua PR Newswire, new venture created between PR Newswire and Xinhua Financial Network that will help public and private Chinese companies attract foreign investments by creating a vehicle for the flow of corporate financial information directly to Western media and financial centers. (PRNewsFoto)[JL] BEIJING, LONDON AND NEW YORK CHN, GBR AND USA

PR Newswire announces $4 million investment in Xinhua Financial Network New service enables Chinese companies to target corporate announcements to Western media and financial centers BEIJING, LONDON and NEW YORK, Nov. 25 /PRNewswire-FirstCall/ -- PR Newswire Association LLC and Xinhua Financial Network today announced a new venture, Xinhua PR Newswire, that will help public and private Chinese companies attract foreign investments by creating a vehicle for the flow of corporate financial information directly to Western media and financial centers. (Photo: http://www.newscom.com/cgi-bin/prnh/20021125/NYM130-a Logo: http://www.newscom.com/cgi-bin/prnh/20021125/NYM130LOGO-b ) This specially designed service will allow Chinese corporations to send full-text corporate announcements through specifically developed channels to target key media and investment outlets in Europe and North America. These channels include newspaper, radio and television outlets as well as over 3,600 global news portals. The creation of Xinhua PR Newswire marks what company executives called "a giant step" in the liberalization of financial markets in China and will enable Chinese public and private companies to reach out to the West as they seek sources of capital and partnerships. Last week, the government approved a landmark plan to allow foreign companies to invest in local shares. The 'Qualified Foreign Institutional Investor' scheme will launch on December 1 and is expected to attract significant overseas investment in China's stock market. "Clearly, the World Trade Organization's acceptance of China in January of 2002 harkens a new era for development in China," said John M. Williams, executive vice president of global markets for PR Newswire. "As the effects of the WTO unfold, Chinese companies are going to need capital. Getting that capital will require information. Our venture with XFN is going to be a vital link in that process." To meet disclosure in China, as determined by the China Securities Regulatory Commission, the 1,200+ public companies listed on either the Shenzhen exchange or the Shanghai exchange are required to place quarterly financial advertisements in the Shanghai Securities News, among others. Although there is no obligation for firms to disclose financial information outside of China unless they are also listed on a foreign exchange, XFN and PR Newswire believe that the increasing interest in China by outside investors and news organizations presents a timely opportunity for a global outbound disclosure service. Xinhua PR Newswire will offer this service to public and private companies throughout China. Ms. Fredy Bush, chief executive officer and founder of XFN, said, "By creating an avenue to get full-text corporate announcements out of China, Xinhua PR Newswire is giving foreign investors, who for years have been eager to put their money into one of the world's largest markets, a reliable way to make informed decisions about Chinese companies seeking their investments." Ms. Bush continued. "Because PR Newswire and XFN have created such a successful venture, we are able to provide this unprecedented service to Chinese companies only months after China joined the WTO." "After so many years of operating in a closed economy, understanding the implications and opportunities of global disclosure can be a daunting task," Mr. Williams said, adding that Xinhua PR Newswire is prepared to help Chinese companies with everything from guidance in drafting announcements to distribution advice. Xinhua PR Newswire is the result of a new $4 million investment made by PR Newswire's parent, United Business Media plc (UBM), in Xinhua Financial Network (XFN), a leading independent financial information provider in China. XFN was founded in 2000. In December 2000, UBM made an initial $2 million investment in XFN. Xinhua PR Newswire will continue to distribute full-text corporate announcements throughout Asia via AsiaNet, a consortium of 14 national news agencies, which includes Xinhua News Agency. About PR Newswire Association LLC PR Newswire Association LLC (http://www.prnewswire.com) provides electronic distribution, targeting and measurement services on behalf of some 40,000 customers worldwide who seek to reach the news media, the investment community and the general public with their up to the minute, full-text news developments. Established in 1954, PR Newswire has offices in fourteen countries and routinely sends its customers' news to outlets in 135 countries in 27 languages. Utilizing the latest in communications technology, PR Newswire content is considered a mainstay among news reporters and investors as well as increasing numbers of private individuals. PR Newswire is a subsidiary of United Business Media plc of London. About United Business Media Plc United Business Media plc (http://www.unitedbusinessmedia.com) is a leading provider of business-to-business media solutions. Its products and services help companies around the world to meet their market information needs. UBM's businesses include NOP World, one of the largest market research groups globally; PR Newswire, the world's leading corporate news distribution service and CMP, the B2B media and exhibition group operating in focused markets sectors such as hi-tech, healthcare, property, entertainment jewelry & fashion in the US, UK, Asia and Europe. About Xinhua Financial Network Xinhua Financial Network (XFN) is an independent financial media company providing financial information on and unique access to China's markets. The company's strong presence in China allows the company to deliver an integrated platform of indices, financial news feeds, credit ratings and corporate data products. XFN's comprehensive approach will help international investors streamline their investment decisions and analyze new opportunities in China. This information infrastructure bridges China's financial market to the global business community. XFN delivers its product suite to global financial institutions and re-distributors via leased line, Internet and satellite technology. Founded in 2000, XFN is backed by a select group of international investors and partners and is managed by a team of international business professionals recognized for their industry knowledge and proven leadership. The China Economic Information Center of the Xinhua News Agency is the majority shareholder. XFN is based in Hong Kong, with offices in Beijing, Shanghai, Shenzhen, Korea, Taiwan and North America. For more information, see http://www.xfn.com.