Leading Chinese Online Advertising Company AdChina Completes Series B Financing

Investment led by Richmond Management, along with co-investors GSR Ventures
and News Corporation

SHANGHAI, July 17 /PRNewswire/ -- AdChina, the largest online advertising
network in China, today announced it has completed its series B round of
venture financing led by Richmond Management, along with co-investors GSR
Ventures and News Corporation. The financing will enable AdChina to grow its
staff and invest in several new technology and commercial initiatives planned
for 2009-10. AdChina's current investors have previously been involved with
such companies as aQuantive, DoubleClick, MySpace, Salesforce.com, Netease and
AsiaInfo.

AdChina is the largest online ad network in China enabling publishers to
maximize the value of their online ad inventory and helping advertisers make
online branding easy. AdChina's network reaches 300 million, or 85% of the
Chinese Internet users and has been pioneering many new models for branding
and performance-based online advertising. The company has developed a powerful
set of targeting technologies built on the largest inventory of advertising
aimed at women, youth and male audiences. In addition to its world-class
technologies, AdChina is also led by one of the most experienced executive
teams from the Internet and advertising technology space.

Headquartered in Shanghai, the company has established regional sales offices
in major cities in China, and signed up premium brand advertisers such as
Unilever, L'Oreal Group, Diageo, HP, Nike, China Telecom, etc. AdChina's
AdTarget service has been adopted by a growing list of media agencies
including MindShare, Ogilvy, OMD, ZenithOptimedia, etc. Over 300 leading
publishers such as portals, vertical, video and social networking sites have
joined AdChina's network and allowed AdChina's AdManager to access their
quality ad inventory.

Driven by a rapidly expanding online user base and growing domestic consumer
spending, the market for online display ads in China is growing in excess of
30% per year on a $2 billion base for 2008 according to iResearch.

"The Chinese online ad market has been growing very fast in the past few
years," said Alan Yan, Founder and CEO of AdChina. "With a great team and
funding in place, we are confident in our ability to rapidly scale our
business and continue building AdChina into one of the dominant players in
China's online advertising industry."

Peter Kellner, Richmond's Managing Partner who was also one of the first angel
investors behind AdChina, adds "AdChina brings together one of the best teams
in online advertising with one of the largest and fastest growing markets
where the winning business models are currently being developed. We have seen
Platform-A and aQuantive emerge as two of the largest online advertising power
houses in the U.S. and expect AdChina to blaze the path for the Chinese
market."

"AdChina is an innovative, technology-driven company with an exceptional
strategic vision for the future of online advertising in China," said Richard
Lim, Managing Director with GSR Ventures. "Given AdChina's progress over the
past two years, we are confident in their ability to achieve their vision in
the years to come."

According to Wendi Murdoch who led News Corp's investment in AdChina, "We have
long been aware of the talented team behind AdChina and are excited to support
their ongoing success."

About AdChina, Ltd.
AdChina is China's leading online ad network. With its proprietary AdManager,
AdTarget, and AdContent platforms, AdChina is committed to helping advertisers
achieve superior results and make online branding easy.

About Richmond Management
Richmond Management is a venture firm focused on technology-enabled services
and mobile applications in the US and across major emerging markets. Since its
establishment ten years ago, Richmond has been a seed or expansion-stage
investor in such companies as Salesforce.com, aQuantive, Color Kinetics,
Personifi and Athleta.com. Current investments include Obopay (mobile
payments), Voxiva (mobile healthcare), Skydeck (mobile analytics) and AdChina
(online advertising). In addition to its portfolio of direct investments,
Richmond has seeded or been an early investor in premier venture capital and
private equity firms around the world. Richmond is headquartered in New York
with an additional office in Delhi, India.

About GSR Ventures
GSR Ventures is a venture capital fund that invests primarily in early and
growth stage technology companies with substantial operations in China. GSR
Ventures' investments include semiconductor, Internet, wireless, new media and
green technology. The Fund currently has about $700 million under management,
a partnership with Mayfield Fund, and offices in Beijing and Silicon Valley.

About News Corporation
News Corporation (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) had total assets as of
December 31, 2008 of approximately US$50 billion and total annual revenues of
approximately US$33 billion. News Corporation is a diversified global media
company with operations in eight industry segments: filmed entertainment;
television; cable network programming; direct broadcast satellite television;
magazines and inserts; newspapers and information services; book publishing;
and other. The activities of News Corporation are conducted principally in the
United States, Continental Europe, the United Kingdom, Australia, Asia and
Latin America.

SOURCE AdChina

Ms. Freda Zhu of AdChina, +86-21-6267-5588, Freda.zhu@adchina.com