SOURCE: China Crescent Enterprises, Inc.

November 21, 2008 08:30 ET

China Crescent Enterprises, Inc. Reviews Profitable YTD Results With $516K in Net Income on $30 Million in Revenue Through 3rd Quarter 2008

DALLAS, TX--(Marketwire - November 21, 2008) - China Crescent Enterprises, Inc. (OTCBB: CCSE) conducted a Webcast this week to review third quarter and year-to-date financials for 2008. An archive of the Webcast is available at www.chinacrescent.com.

China Crescent reported $30.3 million in revenue for the first nine months of 2008 compared to $27.9 million in revenue for the same period last year. Notably, net income increased over 1,300 percent to $516,999 for the first nine months of 2008 compared to $36,010 for the same period last year. Management points out that the Company is still an early stage operation having only listed publicly through a reverse merger approximately two years ago. The net income increase is a healthy indication of the Company's improving maturity. Management is confident that the Company is on track to realize its forecasted $50 million 2008 revenue target. The Company historically reports the majority of its revenue in the second half of the fiscal year.

Additional Highlights from the Webcast Include:

--  Q3 and YTD financial results
--  Market wide share price decreases
--  2008 Sales update
--  Managed services rollout
--  Continued focus on improved profitability and steadily increasing
    revenue
--  Emphasis on higher margin business sectors - managed services &
    hardware repair
--  Actively looking for new acquisitions in China, and potentially
    throughout the rest of Asia
    

Further Information on China Crescent Enterprises

China Crescent is a U.S. corporation currently providing Information Technology infrastructure in China to both the private and public sector. The Company recently changed its name to better position itself in the Chinese market, and a Fact Sheet on the Company's updates and operations is now available.

If you are interested in receiving a copy of the Fact Sheet or to be added to China Crescent's e-mail database to receive company updates, please email or call China Crescent Investor Relations at ir@chinacrescent.com or 214-722-3065.

About China Crescent Enterprises, Inc. (www.chinacrescent.com)

China Crescent Enterprises, Inc. is a technology leader in the rapidly developing Chinese market specializing today in software engineering, high quality software development and digital multimedia outsourcing services delivered to customers globally. At the same time, the firm is a systems integrator and value added reseller of major global hardware brands in the Chinese domestic market.

Headquartered in Dallas with operations in Shanghai and Beijing, China Crescent bridges the gap between Western and Eastern business cultures to assist western clients in realizing the advantages of the high quality, low cost technology products and services available from China. China Crescent also assists Western clients in localizing products and services to realize the tremendous growth potential available by expanding into the Chinese Market.

"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause China Crescent's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.

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