China MediaExpress Holdings, Inc. Updates Market Regarding Listing Status

FUJIAN, China--(Business Wire)--
China MediaExpress Holdings, Inc. (NYSE Amex: TMI; TMI/U; TMI/WS) ("CME" or
"Company"), China`s largest television advertising operator on inter-city
express buses, today announced that it has received further communications from
NYSE Amex LLC ("AMEX") indicating that AMEX is considering the matters raised in
a delisting determination letter previously issued to the Company and is likely
to be rescinding that determination based on more recent stockholder information
that CME has provided to the AMEX.

As previously described, on October 23, 2009 AMEX had determined that CME did
not meet the standards for initial listing upon the closing of its business
combination earlier this month. Based on the growth in CME`s stockholder base,
the Company now meets those standards. CME believes it should be able to resolve
this matter to the satisfication of AMEX and is working closely with AMEX to
achieve prompt resolution of the matter. The Company has been informed that upon
issuance of the letter rescinding such determination, which may be provided as
early as Friday, no further appeals will be required and it will be granted a
new approval for its listing status.

About CME

CME, through contractual arrangements with Fujian Fenzhong, an entity majority
owned by CME`S former majority shareholder, operates the largest television
advertising network on inter-city express buses in China. While CME has no
direct equity ownership in Fujian Fenzhong, through the contractual agreements
CME receives the economic benefits of Fujian Fenzhong`s operations. Fujian
Fenzhong generates revenue by selling advertisements on its network of
television displays installed on over 18,000 express buses originating in
thirteen of China`s most prosperous regions, including the five municipalities
of Beijing, Shanghai, Guangzhou, Tianjin and Chongqing and eight economically
prosperous provinces, namely Guangdong, Jiangsu, Fujian, Sichuan, Hebei, Anhui,
Hubei and Shandong which generate nearly half of China`s GDP.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 (the "Securities Act"), as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"). Forward-looking statements include, but are not limited to
statements regarding expectations, hopes, beliefs, intentions or strategies
regarding the future. In addition, any statements that refer to projections,
forecasts or other characterizations of future events or circumstances,
including any underlying assumptions, are forward-looking statements. The words
"anticipate," "believe," "continue," "could," "estimate," "expect," "intend,"
"may," "might," "plan," "possible," "potential," "predict," "project," "should,"
"would" and similar expressions may identify forward-looking statements, but the
absence of these words does not mean that a statement is not forward-looking.
Forward-looking statements in this report may include, for example, statements
about the Company`s:

* Success in retaining or recruiting, or changes required in, management or
directors following the acquisition;
* Public securities` limited liquidity and trading;
* The delisting of the Company`s securities from the NYSE Amex or an inability
to have the Company`s securities listed on the NYSE Amex following a business
combination;
* The Company`s goals and strategies;
* The Company`s future prospects and market acceptance of its advertising
network;
* The Company`s future business development, financial condition and results of
operations;
* Projected changes in revenues, costs, expense items, profits, earnings, and
other estimated financial information;
* The Company`s ability to manage the growth of its existing advertising network
on inter-city express buses and expansion to prospective advertising network on
high speed railways;
* Trends and competition in the out-of-home advertising media market in China;
* Changes in general economic and business conditions in China; and
* Chinese laws, regulation and policies, including those applicable to the
advertising industry.

China MediaExpress Holdings, Inc.
Jacky Lam
Chief Financial Officer
jackylam@mediaexpress.com.hk
or
Investor Relations:
The Equity Group Inc.
Lena Cati, 212-836-9611
lcati@equityny.com
or
Linda Latman, 212-836-9609
llatman@equityny.com

Copyright Business Wire 2009