Baoshinn Corporation
OTC Bulletin Board : BHNN

Baoshinn Corporation

November 30, 2007 16:52 ET

Baoshinn Corporation Subsidiary Granted CEPA License

HONG KONG, CHINA--(Marketwire - Nov. 30, 2007) - Baoshinn Corporation (OTCBB:BHNN) today announces that its wholly-owned subsidiary, Bao Shinn International Express Limited of Hong Kong ("BSI"), has been recently granted a Mainland and Hong Kong Closer Economic Partnership Arrangement ("CEPA") License.

CEPA, which was signed on June 29, 2003, is a free trade agreement between the Government of the Hong Kong Special Administrative Region and the Central People's Government of the People's Republic of China ("China"). The agreement gives preferential treatment to Hong Kong companies entering the China market.

As an air transportation service provider and tourism & travel related service operator, management expects that BSI will benefit from having a CEPA license, because BSI can now operate in China on a wholly-owned basis, rather than being required to partner with a Chinese-based company. This license facilitates the establishment and expansion of BSI's China operations.

Benny Kan, CEO of Baoshinn Corporation said, "We are very excited with this new opportunity. Through the CEPA license, BSI is now able to participate in the China tourism market, which is one of the fast-growing sectors in the China economy."

About Baoshinn Corporation

Baoshinn Corporation operates principally through its wholly owned Hong Kong based subsidiary BSI. BSI offers extended travel services focusing primarily on wholesale business and corporate clients. BSI is a ticket consolidator of major international airlines and provides travel services such as ticketing, hotel and accommodation arrangements, tour packages, incentive tours and group sightseeing services. Baoshinn Corporation began trading on the OTCBB in September 2007.

This release may contain certain statements that are not based on historical facts and which may be considered forward-looking statements under the federal securities laws. These statements may differ materially from actual future events or results, and by their nature they involve substantial risks and uncertainties, certain of which are beyond the Company's control. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect Management's judgment based on assumptions as of the date hereof which may or may not prove to be correct. Many factors might cause the Company's actual results to differ from those described in the forward-looking statements and these factors include the Company's ability to maintain its regulatory licenses, global economic conditions, as well as the economic conditions in the Company's markets, levels of consumer spending, and exchange rates, particularly between the Chinese Yen and the U.S. Dollar and competition. The Company undertakes no obligation to update forward-looking statements contained herein.

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