DALLAS, TX -- 11/05/09 --
China Crescent Enterprises, Inc. (OTCBB: CCTR)
of Dallas, Texas and China Radio Technology Ltd, a Hong Kong-registered
company, today announced a letter of intent for China Crescent to acquire a
China Radio subsidiary in Shenzhen. The China Radio subsidiary is
anticipated to produce $20 million in annual revenue. China Radio is a
mobile communication hardware and software company that develops and
manufactures products for sale in China. Paul Danner, the CEO of China
Crescent, is scheduled to be in China next week to develop the current
terms of the non-binding letter of intent into finalized acquisition terms
for a transaction expected before year end. China Crescent is scheduled to
release a webcast next Thursday, November 12th to present more details on
the China Radio Technology opportunity.
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About China Crescent Enterprises, Inc. (www.chinacrescent.com)
China Crescent Enterprises, Inc. reported over $40 million in profitable
revenue in 2008. The Company is a technology leader in the rapidly
developing Chinese market specializing today in software engineering, high
quality software development and digital multimedia outsourcing services
delivered to customers globally. At the same time, the firm is a systems
integrator and value added reseller of major global hardware brands in the
Chinese domestic market.
Headquartered in Dallas with operations in Shanghai and Beijing, China
Crescent bridges the gap between Western and Eastern business cultures to
assist Western clients in realizing the advantages of the high quality, low
cost technology products and services available from China. China Crescent
also assists Western clients in localizing products and services to realize
the tremendous growth potential available by expanding into the Chinese
Market.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995
This press release contains forward-looking statements that involve risks
and uncertainties. The statements in this release are forward-looking
statements that are made pursuant to safe harbor provision of the Private
Securities Litigation Reform Act of 1995. Actual results, events and
performance could vary materially from those contemplated by these
forward-looking statements. These statements involve known and unknown
risks and uncertainties, which may cause China Crescent's actual results in
future periods to differ materially from results expressed or implied by
forward-looking statements. These risks and uncertainties include, among
other things, product demand and market competition. You should
independently investigate and fully understand all risks before making
investment decisions.
Contact:
China Crescent Enterprises, Inc.
ir@chinacrescent.com
214-722-3060
