Network CN Adds Two Mega-Size Digital Video Billboards to Growing Shanghai Network
NEW YORK, May 4, 2007 (PR Newswire) -- Network CN Inc. (OTC Bulletin Board: NWCN), a Chinese media and travel network company headquartered in Hong Kong, today announced that it has entered into an agreement with Shanghai Yukang Advertising Company Ltd., the owner and operator of two mega-size digital video billboards located at Century Plaza on Nanjing Road (Nanjing Lu) in Shanghai.
Under the agreement, Network CN's subsidiary, Shanghai Quo Advertising Company Ltd., becomes the exclusive advertising agent and advertising content provider for the two mega-size billboards during a daily 5-hour time slot for the two years commencing on July 1, 2007, while Yukang Advertising remains responsible for all expenses related to operation of the billboards. The agreement allows Quo Advertising to retain all advertising revenues for advertisements published during its allotted time slots.
The agreement is subject to the laws of the People’s Republic of China and Quo Advertising’s ability to publish advertisements is subject to applicable rules and regulations in China regarding advertising generally, and public out-of-home advertisements in particular.
Often called “the most famous shopping street in China”, internationally known Nanjing Road is filled with more than 600 stores, restaurants and art galleries, drawing visitors from all over the world. Shanghai is the most populous city in China and home to approximately 18 million residents, while serving as the nation’s commercial and financial hub.
Godfrey Hui, Chief Executive Officer of Network CN, commented, “These two strategically located mega-size locations represent a significant contribution to the network of media properties we are building. As dynamic, high-visibility sites, they are the ‘crown jewels’ in our rapidly growing out-of-home advertising portfolio, which we plan to expand to include up to 540 roadside LED displays in Shanghai, Nanjing and Wuhan. This is an important milestone toward our growth and profitability goals.”
Please refer to the Company’s website (www.ncnmedia.com) for more details.
About Network CN Inc.
Headquartered in Hong Kong, Network CN Inc.'s vision is to build a nationwide network in China that serves the needs of a variety of customers. The Company operates a Media Network, a Hotel Network and an e-Network. As of December 31, 2006, the Company had five 2 – 4 star hotels in the PRC and roughly 730 hotel rooms under management. In addition, the Company is actively pursuing the development of an e-Network via the Internet.
This press release includes statements that may constitute "forward- looking" statements, usually containing the word "believe," "estimate," "project," "expect," "plan," "anticipate" or similar expressions. Forward- looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors and changes in regulatory environments. These and other risks relating to Network CN Inc. business are set forth in the Company's Annual Report on Form 10-KSB filed with the Securities and Exchange Commission on April 02, 2007, and other reports filed from time to time with the Securities and Exchange Commission. By making these forward- looking statements, Network CN Inc. disclaims any obligation to update these statements for revisions or changes after the date of this release.
Source: Network CN Inc.