Xinhua Finance Announces Management Changes, Strengthened Executive Team and Streamlined Structure

Xinhua Finance Announces Management Changes, Strengthened Executive Team and Streamlined Structure

May 15, 2007

    SHANGHAI, China, May 15 /Xinhua-PRNewswire/ -- Xinhua
Finance Limited (TSE: 9399) (OTC ADRs: XHFNY)
("XFL"), today announced the promotion of several
executives in connection with the creation of a shared
services group designed to consolidate and simplify certain
operational and reporting structures between XFL and its
subsidiary Xinhua Finance Media ("XFMedia")
(Nasdaq: XFML).  

    (Logo: http://www.xprn.com.cn/xprn/sa/200611140926.gif
)

    The shared services group is made up of executives from
both XFL and XFMedia, and centralizes support for strategy,
investor relations, corporate communications, legal
services and branding for XFL and XFMedia.  This group
reports to Fredy Bush, who is CEO of both companies.  
    XFL, founded in 1999, is a financial information
company focusing on China which serves financial
institutions, corporations and re-distributors through five
focused and complementary service lines: Indices, Ratings,
Financial News, Investor Relations, and Distribution.  
XFMedia is a China based financial and entertainment media
company.  Through its five synergistic business groups,
Advertising, Broadcast, Print, Production and Research,
XFMedia offers a total solution empowering clients at every
stage of the media process.   

    The two Xinhua Finance businesses operate with highly
complementary objectives: XFL continually improves the
quality and scope of its financial content, while XFMedia
focuses on distributing that content to a target audience
of high net worth individuals in China via television,
radio, newspapers, magazines and other distribution
channels. 

    Fredy Bush, Chief Executive commented, "We are
keenly aware of the need for our corporate structure and
executive team to stay one step ahead of the rapid
development of our businesses.  Our sharp focus and clear
strategy allows us to think and plan ahead.  The Xinhua
Finance companies now have more than 10,000 investors
globally, in excess of $1.5 billion in market capital and
have completed $400 million in M&A transactions.  The
shared services group is important to the group's efficient
expansion going forward and represents our commitment to
sustainable growth."

    John McLean, who has served as XFL General Counsel
since 2004, will continue to head up the legal department
for the group as part of the shared services team.  

    Given his in-depth knowledge of both XFL and XFMedia,
Shelly Singhal has been appointed Executive Director,
Corporate Development, and will serve as a part of the
shared services group with responsibility for capital
markets activities, transactions, and mergers and
acquisitions.  

    Andrew Chang has been appointed Chief Financial Officer
of XFMedia.  Andrew joined the finance department of XFL in
2003.  He played a key role working closely with Shelly
Singhal in the development of the XFMedia business as
Managing Director of Finance. Zhu Shan remains in his
position as Chief Operating Officer of XFMedia.

    At XFL, David Wang assumes the role of Chief Financial
Officer after serving as Managing Director, Corporate
Finance since joining XFL in 2006.    He replaces Gordon
Lau, who is leaving XFL to pursue other interests.  David
will assume the role on July 1st and is working closely
with Gordon to facilitate a smooth transition. During his
tenure with XFL, David worked with Gordon on several
financing transactions, including XFL's $100 million high
yield bond financing. Dan Connell continues in his role as
XFL Chief Operating Officer.

    Fredy Bush added, "These changes in responsibility
will better leverage our executive skill set and help build
a management infrastructure strong enough to support our
ambitious growth plans.  Personally, I am very excited to
be able to sharpen my focus on what I do best: strategic
and tactical planning, leadership and China market
development.  John, Shelly, David, Dan, Andrew, and Zhu
Shan have made valuable contributions to our success and
these enhancements to our corporate structure will increase
their opportunities to do so in the future.  I extend my
sincere appreciation to Gordon Lau for his invaluable
contribution to the successful development of Xinhua
Finance, and wish him the best in his future
endeavors."  

    Notes to Editors

    Biographies of the two new CFOs

    Mr. David Wang, CFO, Xinhua Finance Limited

    Mr. Wang joined Xinhua Finance Limited in October 2006
as Managing Director, Corporate Finance. Prior to that, Mr.
Wang had served as a financial advisor to the Company since
February 2006 and took a key role in leading a number of
major financing transactions for the company, including its
syndicated loan and high yield bond financing, as well as
the NASDAQ IPO of its subsidiary Xinhua Finance Media
Limited. 

    Prior to joining Xinhua Finance, Mr. Wang served as CFO
and board member of Kentucky Electric Steel, Vice President
of Libra Securities, and an Associate with the leveraged
finance investment banking division of U.S Bancorp
Investments, Inc. 

    Mr. Wang graduated from the Wharton School at the
University of Pennsylvania.

    Mr. Andrew Chang, CFO, Xinhua Finance Media Limited

    Mr. Chang joined our parent Xinhua Finance Limited
(XFL) in 2003 and had taken senior positions at Corporate
Finance Department until November 2006 when he transferred
to Xinhua Finance Media (XFMedia). He successfully managed
and completed various acquisitions, fund raisings, and
other strategic financial initiatives for both XFL and
XFMedia, including their IPOs on the Tokyo Stock Exchange
and the NASDAQ respectively. 

    Prior to joining Xinhua Finance, Mr. Chang had over 10
years of investment banking experience in the US, Hong
Kong, China and Japan including working at such prestigious
investment banks as GE Capital, ABN AMRO, and Nomura.  

    Mr. Chang graduated from University of California at
Berkeley.

    About the companies

    Xinhua Finance Limited 

    Xinhua Finance Limited is China's premier financial
information and media service provider and is listed on the
Mothers Board of the Tokyo Stock Exchange (symbol: 9399)
(OTC ADRs: XHFNY). Bridging China's financial markets and
the world, Xinhua Finance serves financial institutions,
corporations and re-distributors through five focused and
complementary service lines: Indices, Ratings, Financial
News, Investor Relations, and Distribution.  Founded in
November 1999, the Company is headquartered in Shanghai,
with offices and news bureaus spanning 14 countries
worldwide.   For more information, please visit
http://www.xinhuafinance.com .

    About Xinhua Finance Media Limited 

    Xinhua Finance Media ("XFMedia"; NASDAQ:
XFML) is China's leading diversified financial and
entertainment media company targeting high net worth
individuals nationwide. The company reaches its target
audience via TV, radio, newspapers, magazines and other
distribution channels. Through its five synergistic
business groups, Advertising, Broadcast, Print, Production
and Research, XFMedia offers a total solution empowering
clients at every stage of the media process and keeping
people connected and entertained.  

    Headquartered in Beijing, the company has offices and
affiliates in major cities of China including Beijing,
Shanghai, Guangzhou, Shenzhen and Hong Kong. 

    Xinhua Finance Media is a subsidiary of Xinhua Finance
Limited ("XFL"; TSE Mothers: 9399), China's
premier financial information and media service provider.
XFL owns 36.9% of the equity and 85.4% of the voting rights
of XFMedia through its holding of class B common shares,
which have ten votes per share. The investing public, the
company's China partners, executives and staff own class A
common shares in the company with one vote per share. The
dual-class common share structure was created to
accommodate the regulatory landscape of China's media
sector. 

    For more information, please visit
http://www.xinhuafinancemedia.com .

 


    For more information, please contact:

    Xinhua Finance

    Japan: 
     Mr. Sun Jiong
     Tel:   [phone]
     Email: [e-mail]

    China: 
     Ms Joy Tsang
     Tel:   [phone]
     Email: [e-mail] 

    Taylor Rafferty (IR Contact)

    Japan: 
     Mr. James Hawrylak
     Tel:   [phone]
     Email: [e-mail]

    United States: 
     Mr. John P. Dudzinsky
     Tel:   [phone]
     Email: [e-mail]