Xinhua Finance Makes Second Payment for Acquisition of Chinese Advertising Group, Ming Shing International Limited

Xinhua Finance Makes Second Payment for Acquisition of Chinese Advertising Group, Ming Shing International Limited

June 08, 2006

    SHANGHAI, China, June 8 /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 Ming Shing International Limited
("Ming Shing") pursuant to the share purchase
agreement ("Agreement") signed in December 2005.


    As announced in the press release of January 12, 2006,
further purchase consideration for Ming Shing will be
payable depending on Ming Shing's financial performance
during 2005, 2006 and 2007. 

    Xinhua Finance is pleased to announce that Ming Shing
has reported net income for 2005 of US$3.96 million. 
Accordingly, the original shareholders of Ming Shing will
be entitled to an additional payment of US$ 27.53 million,
consisting of US$13.77 million in cash and 18,105 of Xinhua
Finance shares pursuant to the Agreement. 
	
    Details of the issuance:

     1. No. of shares issued: 18,105 shares
     2. Issue price per share: US$760.32 (JPY 84,947). 
Price is based on average 
        closing share price for fifteen trading days up to
and including 
        June 5, 2006.
     3. Total amount of the issue price: US$13,765,517
     4. Amount to be added to share capital: HK$20 per
share
     5. Date of issuance: June 8, 2006
     6. Use of proceeds: The shares are part of
consideration of the shares of 
        Ming Shing that were acquired in January 2006.

    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
www.xinhuafinance.com . 

    More information:

    Xinhua Finance
    Hong Kong / Shanghai
     Ms. Joy Tsang
     Tel:   [phone],
[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. Brian Rafferty
     Tel:   [phone]
     Email: [e-mail]

SOURCE  Xinhua Finance Limited