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China Crescent Enterprises, Inc.: China Crescent Enterprises, Inc. Anticipates 50% Increase in 2009 Net Income

^{Published on 2009-01-13 08:16:08, Last Modified on 2009-01-13 08:17:04 - Market Wire}
 

DALLAS, TX--(Marketwire - January 13, 2009) - China Crescent Enterprises, Inc. (OTCBB: [ CCSE ]) today announced an agreement to increase the Company's ownership in its Chinese operating subsidiary. China Crescent currently owns 51% of the technology service provider it operates in China. Yesterday, China Crescent entered into an agreement to acquire an additional 25% interest from the Chinese operating subsidiary's minority shareholder. Net income is anticipated to increase 50% as a result of the increased ownership. The acquisition is expected to be complete by the end of January.

CEO Paul K. Danner has just completed a series of 2009 kick-off meetings in Shanghai with senior company management. The acquisition of an additional 25% interest is the first step of a plan to rebuild the Company's market capitalization value. The Company anticipates releasing further updates throughout the first quarter of 2009 in relation to the plan to rebuild market capitalization value. After reporting $40 million in revenue in 2007, management anticipates reporting increased revenue and profit for 2008. Nevertheless, the Company's share price decreased throughout 2008, as did the share prices of many publicly listed companies during the course of the global financial crisis.

"Few publicly listed companies have escaped from having their share price negatively impacted," said Danner, commenting on the global financial crisis. "China Crescent is growing both the top and bottom line. The Company's opportunity to grow domestically in China remains strong. We will take every advantage of the domestic growth opportunity in China and take every measure to see the share price reflect the Company's continued growth and ongoing opportunity."

Corporate E-mail Updates

To be added to China Crescent's e-mail database to receive company updates or to obtain more information on the Company, please send an e-mail to [ ir@chinacrescent.com ] or call 214-722-3065.

About China Crescent Enterprises, Inc. ([ http://www.chinacrescent.com/ ])

China Crescent Enterprises, Inc. 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.