SOURCE: China Crescent Enterprises, Inc.

September 23, 2008 10:25 ET

China Crescent Enterprises, Inc. Wraps South China Conference With New Contacts and Wholly Owned Foreign Entity Ready for M&A

DALLAS, TX--(Marketwire - September 23, 2008) - China Crescent Enterprises, Inc. (OTCBB: CCSE) today announced the successful completion of its participation in the "Summit on the Industrial Transformation of Zhu Jian Delta," a conference focused on small business financing in China. The conference was held in South China, in close proximity to Hong Kong. This conference marked the official beginning of China Crescent's merger and acquisition efforts and has given the Company an opportunity to present to hundreds of small Chinese companies and to gather contacts who are directly seeking finance and investment. China Crescent entered the conference with one very critical capability, namely the ability to acquire or merge companies into its own Wholly Owned Foreign Entity. China Crescent is the sole owner of Clipper Technology, Inc. (CLPTEC). CLPTEC is a computer hardware and software company formed in 2005 by China Crescent and is registered and based in Shanghai, China. CLPTEC has since formed its own majority owned subsidiary in Ningbo, China. The benefit of having a domestic Chinese operation with which to conduct merger and acquisition efforts cannot be understated. In many circumstances, the ability to conduct transactions between two Chinese firms, rather than between a foreign firm and a Chinese firm is extremely advantageous. China Crescent established this ability in 2005, providing several different ways to structure merger and acquisition opportunities in China. Both CLPTEC and its Ningbo subsidiary are now well established and in good standing with all applicable China Government entities.

Micros Report Assigns Fair Value Target Price of $0.55

On Friday, Micros Report issued an update to its initial research coverage assigning a fair value target price of $0.55 for China Crescent stock. Michael Willingham, Micros Report Director of Research, initiated research coverage and published his first report on China Crescent in December 2007.

Mr. Willingham stated in his recent update, "For 2008, the Company has forecast $50 million in sales which if achieved would result in a 25% growth rate during a year where the Dow Jones Industrial Average has seen a 25% decrease from its peak."

Interested parties may contact ir@chinacrescent.com to receive a copy of the report.

Corporate E-mail Updates

To be added to China Crescent's e-mail database to receive company updates or to obtain more information on the Company, please send an e-mail to ir@chinacrescent.com or call 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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