[July 26, 2005] Enjoy Media Enters Outdoor Advertising Market by Acquisition of Tianhua Tweet HONG KONG --(Business Wire)-- July 26, 2005 -- Enjoy Media Holdings Limited (Pink Sheets: EJYM) announced today that it has entered into a definitive agreement to acquire 60% of the outdoor display advertising business of Guangzhou Tianhua Advertising Limited ("Tianhua", www.gztianhua.com), a company based in Guangzhou, China. Tianhua manages outdoor advertising displays located at the Guangzhou train station, where the daily average commuters is over 150,000 and over 300,000 during holidays. It has secured a significant portion of the train station's outdoor advertising displays through 2009. The total consideration of US$1,108,000 is to be settled by common shares of Enjoy Media and is conditional upon the extension of the exclusive arrangement with the Guangzhou train station to the year 2014. The acquisition will further develop Enjoy Media's "Wait Media" focus that provides advertisements to waiting train commuters. Tianhua, a privately-held company in Guangzhou, China, runs diversified businesses that include outdoor display advertising, fashion magazine publication and inflatable advertising balloon manufacturing. Tianhua's major customers include Pepsi, Coca-Cola, Haier, Heinz, Lenovo and Skyworth. In 2004, Tianhua's outdoor advertising business generated US$240,000 in revenue and net profit of US$145,000. Tianhua expects to increase its outdoor advertising revenue to at least US$300,000 and net profit of US$180,000 in 2005. About Enjoy Media Holdings Limited Enjoy Media Holdings Limited is an innovative media and advertising company based in Guangzhou, China. Its advertising targets the young urban and white-collar audience. Enjoy Media supplies paper placemat, napkins and other displays that display advertisements, free of charges, to a network of over 1,200 cafes and restaurants in the cities of Guangzhou, Shanghai, Beijing and Shenzhen in China. Its advertising clients include: China Telecom, China Mobile, China Unicom, Wrigley, Siemens, Samsung, Dell, and numerous other consumer brands as well as real estate development companies. Enjoy Media expects to grow its network of restaurants and cafes to more than 4,000 in the next 3 years. For more information, please visit http://www.enjoymedia.com. Certain information contained in these materials is "forward-looking" information, such as projections, estimates, pro formas, or statements of intentions, expectations or plans. All forward-looking information is subject to known and unknown risks and uncertainties, many of which are outside of the control of the company. Consequently, actual results may, and probably will, differ materially from the results contemplated in such forward-looking information. [ Back To TMCnet.com's Homepage ]