SOURCE: China 3C Group

August 28, 2006 08:00 ET

China 3C Group Added to China Small Cap Index

ZHEJIANG, CHINA -- (MARKET WIRE) -- August 28, 2006 -- China 3C Group (OTCBB: CHCG), the parent company of Zhejiang Yong Xin Digital Technology Co., Ltd., today announced that it has been added as a component of the Ludlow China SmallCap Index.

Mr. Zhenggang Wang, Chief Executive Officer, stated, "We're pleased to be part of the Ludlow China Small Cap Index. This further enhances our visibility in the American capital markets and provides us with useful exposure to investors."

About Ludlow Capital

Headquartered in Manhattan, Ludlow Capital is a full service investment banking company that assists companies and institutional investors by arranging private equity financing and secondary public offerings.

The Ludlow Small Cap China Index is a basket of some of the top U.S.-traded OTC and small cap Chinese stocks. The index provides institutional and individual investors a gauge for tracking the day-to-day performance of small cap Chinese stocks in a diversified basket. The index is designed for investors who have a long-term bullish outlook on China's emerging market. The Ludlow China Index is owned and operated by Ludlow China Fund, Inc., based in New York City.

About China 3C Group

China 3C Group is a leading retail chain operating over 600 independent stores in Eastern China. The Company specializes in selling 3C products (communication products, information technology products, and digital products) in China through its subsidiary Zhejiang Yong Xin Digital Technology Co., Ltd. Among China 3C's primary attributes is its efficient distribution network and rapid logistics system. The Company's goal is to become the number one retailer of 3C products in China.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995.

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the recent economic slow down affecting technology companies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our Annual Report on Form 10-KSB, recent and forthcoming Quarterly Reports on Form 10-QSB, recent Current Reports on Forms 8-K and 8-K/A, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.

Contact Information

  • At Company
    Jincheng (Jason) Yuan
    Vice President
    Tel: 201-963-6764
    Fax: 201-963-6794
    Email: Email Contact
    Website: www.China3CGroup.com

    At Financial Relations Board
    Marilynn Meek
    General
    212-827-3773

    Julie Tu
    Analysts
    212-827-3776