XFML Xinhua Finance Media Limited ADS (MM)

Lerach Coughlin Stoia Geller Rudman & Robbins LLP (�Lerach Coughlin�) (http://www.lerachlaw.com/cases/xinhua/) today announced that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of all persons or entities who acquired Xinhua Finance Media Ltd. (�Xinhua�) (NASDAQ:XFML) American Depositary Shares (�ADSs�) pursuant to the Company�s false and misleading Registration Statement and Prospectus (collectively, the �Registration Statement�) issued in connection with its March 8, 2007 initial public offering (�IPO�). If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from May 22, 2007. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff�s counsel, Samuel H. Rudman or Darren J. Robbins of Lerach Coughlin at 800/449-4900 or 619/231-1058, or via e-mail at wsl@lerachlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.lerachlaw.com/cases/xinhua/. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. The complaint charges Xinhua and certain of its officers and directors with violations of the Securities Act of 1933. Xinhua is a diversified media company in China. The complaint alleges that on March 9, 2007, Xinhua accomplished its IPO of 23.07 million ADSs, representing 46.15 million common shares, at $13.00 per ADS (including 1.5 million shares sold by Xinhua�s Chairman and Chief Executive Officer, Fredy Bush) for net proceeds of $300 million, pursuant to the Registration Statement. Due to defendants� positive but false statements following the IPO, by May 15, 2007, the stock was trading around $12.00 per share. Then on May 21, 2007, Barron�s published an article on Xinhua disclosing that the Registration Statement for the IPO failed to disclose that Xinhua�s Chief Financial Officer (�CFO�) was simultaneously the Company�s CFO and an investment banker and stockbroker who ran a securities firm that had been under regulatory scrutiny in the past year. On this news, Xinhua�s stock price collapsed from $10.79 per share on May 17, 2007 to close at $8.76 per share on May 21, 2007, on unusually high volume. Plaintiff seeks to recover damages on behalf of all persons or entities who acquired Xinhua ADSs pursuant to the Company�s false and misleading Registration Statement issued in connection with its March 8, 2007 IPO. The plaintiff is represented by Lerach Coughlin, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud. Lerach Coughlin, a 180-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Houston, Philadelphia and Seattle, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. Lerach Coughlin lawyers have been responsible for more than $20 billion in aggregate recoveries. The Lerach Coughlin Web site (http://www.lerachlaw.com) has more information about the firm.