Xinhua Finance Makes Second Payment for Acquisition of China TV Consulting Company

Xinhua Finance Makes Second Payment for Acquisition of China TV Consulting Company

March 20, 2006

    SHANGHAI, China, March 20 /Xinhua-PRNewswire/ -- Xinhua
Finance Limited ("Xinhua Finance") (TSE Mothers:
9399; OTC: XHFNY), China's unchallenged leader in financial
information and media, today announced details of the second
consideration payment to be made to the original
shareholders of Beijing Century Media Culture Co., Ltd.
("Beijing Century Media") pursuant to the sale
and purchase agreement signed in September 2005. 

    As announced in the press release of October 11, 2005,
further purchase consideration for Beijing Century Media
will be payable depending on Beijing Century Media's
financial performance during 2005, 2006 and 2007. 

    Xinhua Finance is pleased to announce that Beijing
Century Media has reported net income for 2005 of US$2.2
million, which significantly exceeds the original estimate
of USD 1.3 million as announced by the Company at the time
of the acquisition.  Accordingly, the original shareholders
of Beijing Century Media will be issued 14,629 of Xinhua
Finance shares pursuant to the sale and purchase agreement.

	
    Details of the issuance:

     No. of shares issued: 14,629 shares

     Issue price per share: US$565.84

     Total amount of the issue price: US$8,277,712

     Amount to be added to share capital: HK$20 per share

     Date of issuance: March 21, 2006

     Objective of issuance: The shares are part of
consideration of the shares             
      of Beijing Century Media that were acquired in
September 2005.

    About Xinhua Finance Limited

    Xinhua Finance Limited is China's unchallenged leader
in financial information and media, 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 four focused and
complementary service lines: Indices, Ratings, Financial
News and Investor Relations.  Founded in November 1999, the
Company is headquartered in Shanghai with 21 news bureaus
and offices in 18 locations across Asia, Australia, North
America and Europe. 

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

    For more information, please contact:

    Xinhua Finance
     Hong Kong / Shanghai
     Ms. Joy Tsang
     Tel:   [phone] or
[phone] 
     Email: [e-mail]
                           
     Japan 
     Mr. Sun Jiong, 
     Tel:   [phone]
     Email: [e-mail]

    Taylor Rafferty (IR Contact)
     Japan 
     Mr. James Hawrylak
     Tel:   [phone]
     Email: [e-mail]

     United States
     Mr. David Leeney
     Tel:   [phone]
     Email: [e-mail]

SOURCE  Xinhua Finance Limited