VisionChina Media Announces Addition of Guangzhou Metro Line No. 5 to Existing Subway Network
October 22 2009 - 4:00PM
PR Newswire (US)
BEIJING, Oct. 22 /PRNewswire-Asia/ -- VisionChina Media Inc.
("VisionChina" or the "Company") (NASDAQ:VISN), one of China's
largest out-of-home digital television advertising networks on mass
transportation systems, today announced that the company has
successfully signed a 16-month contract with Guangzhou Metro TV
Media Company ("GMTM") to add the new Metro Line No. 5 to the
Company's existing subway network in the city of Guangzhou upon the
opening of that line on January 1, 2010. VisionChina already holds
exclusive rights to operate on all existing subways in the city of
Guangzhou as well as on the platforms that service the subway
system. Line No. 5 will serve as a main artery and operate though
the downtown area of Guangzhou. Including the new line, the
Guangzhou subway system will feature a network of 5 lines covering
150 kilometers of track accessed via 91 subway stations. Commenting
on the Company's successful bid in Guangzhou, Mr. Limin Li,
VisionChina Media's chairman and chief executive officer, said,
"Our ability to add Line No. 5 to our existing subway network in
Guangzhou is an important step in our strategic expansion plan.
Guangzhou has a large and attractive pool of local advertisers and
is also one of China's four Tier I cities that are important to
national and international advertisers alike." Mr. Li continued,
"Additionally, in 2010, Guangzhou will host the 16th Asian Games.
This sporting event, second in Asia only to the Olympic Games, is
expected to attract millions of visitors of all nationalities. The
combination of our leading above-ground bus network and our newly
expanded underground subway network in the city of Guangzhou
positions us well to explore the vast opportunities presented by
the event." Guangzhou, the capital city of Guangdong province, has
over 10 million residents and will host the 16th Asian Games from
November 12-27, 2010. Seventy five percent of subway platforms and
stations are located in major business centers and densely
populated areas of the city. According to official national
statistical data, Guangzhou's GDP reached RMB 821.6 billion in 2008
and ranked 3rd among all cities in China. About VisionChina Media,
Inc. VisionChina Media Inc. (NASDAQ:VISN) operates an out-of-home
advertising network on mass transportation systems, including buses
and subways that reaches over 40 million viewers each day in China,
according to CTR Market Research. As of June 30, 2009, VisionChina
Media's advertising network included 82,349 digital television
displays on mass transportation systems in 18 of China's
economically prosperous cities, including Beijing, Guangzhou and
Shenzhen. VisionChina Media has the ability to deliver real-time,
location-specific broadcasting, including news, stock quotes,
weather and traffic reports and other entertainment programming.
For more information, please visit http://www.visionchina.cn/ . For
investor and media inquiries, please contact: In China: Mrs. Helen
Plummer Investor Relations Officer VisionChina Media Inc. Tel:
+86-139-1167-2124 Email: Mr. Derek Mitchell Ogilvy Financial,
Beijing Tel: +86-10-8520-6284 Email: In the United States: Ms.
Jessica Barist Cohen Ogilvy Financial, New York Tel:
+1-646-460-9989 Email: DATASOURCE: VisionChina Media, Inc. CONTACT:
In China: Mrs. Helen Plummer, Investor Relations Officer,
VisionChina Media Inc., +86-139-1167-2124, , or Mr. Derek Mitchell,
Ogilvy Financial, Beijing, +86-10-8520-6284, ; In the United
States: Ms. Jessica Barist Cohen, Ogilvy Financial, New York,
+1-646-460-9989, Web site: http://www.visionchina.cn/
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