Capital Alliance Group Inc.
TSX VENTURE : CPT

Capital Alliance Group Inc.

September 20, 2005 12:21 ET

Capital Alliance's Former Subsidiary Announces Symbol Change & Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 20, 2005) - Capital Alliance Group Inc. (TSX VENTURE:CPT) - NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE US.

Capital Alliance Group Inc. reports that its former subsidiary, SE Global Equities Corp. (OTCBB:SEGB) ("SEG"), has tendered all necessary documents and material into escrow to close the transaction and is waiting for Sun Media Investment Limited to deliver the remaining documents and material. The parties have agreed to an effective closing date of September 18, 2005.

Effective September 20, 2005 SEG will commence trading under its new name "Sun New Media Inc." ("SNM") and on a consolidated basis under the new trading symbol: SNMD. Capital Alliance Group will hold approximately 7.5 million post consolidated shares of SNM.

China's population is approximately 1.3 billion but the Internet penetration rate is relatively low at approximately 7.9%, which represents only about 100 million people. By 2008, the number of Internet users in China is expected to reach 252 million, surpassing that of the U.S. despite only representing 19% of the expected population at that time. SNM aims to secure a major share of the multimedia market in China, which is expected to become the largest sector in the Chinese economy by 2010, exceeding aggregate revenues of RMB 1500 Billion(1) (USD 181 Billion).

"Our goal is to become China's preeminent leader in the multimedia sector which spans from traditional print and television to the new mediums of online delivery," said Bruno Wu, Chairman of Sun New Media Inc and its parent company Sun Media Investment Holdings Ltd. "In addition to Sun Media Investment's extensive presence in China's traditional media markets, Sun New Media will be the flagship to expand aggressively in the Internet sector and capture a substantial share of China's online media market".

SEG's former majority shareholder, Capital Alliance Group's President and CEO, Toby Chu commented, "since the establishment of our first business school in 1994, we have securely positioned ourselves to prosper in China's growing economy. Capital Alliance will continue to support Dr. Wu's company and vision by providing our expertise and sharing our experiences to enhance the value for our strategic holdings in Sun New Media Inc."

About Sun Media

Sun Media Investment Limited ("SMIH") is the majority shareholder and parent company of Sun New Media Inc. SMIH is an investment group focusing on growth opportunities in media markets in Asia, particularly Greater China. SMIH enhances its value by creating and sustaining branded content platforms, which it can leverage across many different forms of media. Today, SMIH has activities in six strategic areas: television, news media, publishing, education, advertising and sports. In all, Sun Media Investment Holdings has direct interests in 11 media companies, through which it holds shares in more than 30 media operations, controlling no less than 60 media brands in 9 countries and 15 cities. To view a recent corporate video on Sun Media Investment Holdings visit: www.cag-global.com/newflash/sun.html. For more information on Sun New Media Inc. please visit the company's new website at www.sunnewmedia.net which will be launched in the coming days.

Capital Alliance Group Inc.

Toby Chu, President & C.E.O.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.

(1) Source: Beijing Multimedia Association

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information