XFML Xinhua Finance Media Limited ADS (MM)

SHANGHAI, May 18 /PRNewswire-FirstCall/ -- The Boards of Directors of Xinhua Finance Ltd. (TSE:9399) (OTC ADRs: XHFNY) and Xinhua Finance Media (NASDAQ:XFML), announced today that Mr. Shelly Singhal has resigned from the Boards of both companies, as well as from all executive and managerial positions. His departure is immediate. "Mr. Singhal provided important assistance throughout the development of Xinhua Finance Ltd. and Xinhua Finance Media," commented Chairman and CEO Fredy Bush, "He remains a strong supporter of both companies, and he has our thanks for his tireless efforts in contributing to our successes to date." "It is a difficult decision to leave these two Companies that I have helped to grow, but there are other priorities that will require my full attention, so it is clearly the right thing to do now," Mr. Singhal wrote in a letter to the Boards, "There is a deep pool of entrepreneurial and managerial talent in place to insure continued progress. I remain a loyal and long-term follower and shareholder, and wish the two Companies well." About the companies Xinhua Finance Limited Xinhua Finance Limited is China's premier financial information and media service provider and is listed on the Mothers Board of the Tokyo Stock Exchange (symbol: 9399) (OTC ADRs: XHFNY). Bridging China's financial markets and the world, Xinhua Finance serves financial institutions, corporations and re-distributors through five focused and complementary service lines: Indices, Ratings, Financial News, Investor Relations, and Distribution. Founded in November 1999, the Company is headquartered in Shanghai, with offices and news bureaus spanning 14 countries worldwide. For more information, please visit http://www.xinhuafinance.com/. About Xinhua Finance Media Limited Xinhua Finance Media ("XFMedia"; NASDAQ: XFML) is China's leading diversified financial and entertainment media company targeting high net worth individuals nationwide. The company reaches its target audience via TV, radio, newspapers, magazines and other distribution channels. Through its five synergistic business groups, Advertising, Broadcast, Print, Production and Research, XFMedia offers a total solution empowering clients at every stage of the media process and keeping people connected and entertained. Headquartered in Beijing, the company has offices and affiliates in major cities of China including Beijing, Shanghai, Guangzhou, Shenzhen and Hong Kong. Xinhua Finance Media is a subsidiary of Xinhua Finance Limited ("XFL"; TSE Mothers: 9399), China's premier financial information and media service provider. XFL owns 36.9% of the equity and 85.4% of the voting rights of XFMedia through its holding of class B common shares, which have ten votes per share. The investing public, the company's China partners, executives and staff own class A common shares in the company with one vote per share. The dual-class common share structure was created to accommodate the regulatory landscape of China's media sector. For more information, please visit http://www.xinhuafinancemedia.com/. For further information, Media Contacts China Xinhua Finance Media Ms. Joy Tsang, +86 21 6113 5999, United States Taylor Rafferty John Dudzinsky, +1 212 889 4350, IR Contacts China Xinhua Finance Media Jennifer Chan Lyman, +86 21 6113 5960, United States Ms. Dana E. Johnston, +1 212 889 4350, Ms Jessica McCormick, +1 212 889 4350, DATASOURCE: Xinhua Finance Ltd. and Xinhua Finance Media CONTACT: Media: China, Ms. Joy Tsang of Xinhua Finance Media, +86 21 6113 5999, or , or United States, John Dudzinsky of Taylor Rafferty, +1-212-889-4350, or ; or IR: Jennifer Chan Lyman of China Xinhua Finance Media, +86 21 6113 5960, or , or United States, Ms. Dana E. Johnston, +1-212-889-4350, , or Ms Jessica McCormick, +1-212-889-4350, , both of Taylor Rafferty Web site: http://www.xinhuafinance.com/ http://www.xinhuafinancemedia.com/

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