SOURCE: China Broadband, Inc.

China Broadband, Inc.

November 29, 2010 10:30 ET

China Broadband Announces Additional Changes to Its Board of Directors

NEW YORK, NY--(Marketwire - November 29, 2010) - China Broadband, Inc. ("China Broadband" or the "Company") (OTCBB: CBBD), a publisher of digital and analog program guides and a provider of value added services for the cable industry, including broadband internet, pay-per-view and video-on-demand services for viewers in the People's Republic of China, today announced several board and management changes including the resignation of Clive Ng as Senior Executive and Co-Chairman of the Board, and the resignation of Jonas Grossman and David Zale from the Board of Directors, effective immediately. Following such resignations, Marc Urbach and Steven Oliveira were appointed to the Company's Board of Directors.

Mr. Urbach, who currently serves as China Broadband's President and Chief Financial Officer, joined China Broadband in 2008. Mr. Urbach has over 15 years of accounting, finance, and operations experience. From 2004 to 2008, he served as Chief Operating Officer and Chief Financial Officer of Profile Lighting and Design and Director of Finance at Mercer Inc., a Marsh & McLennan Company from 2002 to 2004. From 1999 to 2002, he served as Finance Manager at The Walt Disney Company and started his career at Arthur Andersen from 1995 to 1998. 

Mr. Oliveira has been Chief Investment Officer of Chardan SPAC Asset Management, LLC since 2008, and President of Oliveira Capital, LLC since its inception in 2002, with focus on investments in Asia, biotechnology and Special Purpose Acquisition Companies (SPACs). In 1995, while a Managing Partner at CSO Ventures, Mr. Oliveira co-founded Depomed, Inc. and Siga Pharmaceuticals. Mr. Oliveira's career in biotechnology began in 1992 as a Vice President at D. Blech and Company, an investment bank that specialized in financing emerging companies in the life sciences sector.

"We are delighted that Marc and Steve have joined our Board. They bring vast financial expertise and years of experience in the capital markets, both of which will be very useful as we begin the execution of our Pay-Per-View and Video on Demand services in China," said Shane McMahon, China Broadband's Chief Executive Officer and Chairman. "The Board of Directors and the management of the Company would like to thank Mr. Ng, Mr. Grossman, and Mr. Zale for their contributions and we wish them success in their future endeavors."

About China Broadband

China Broadband is positioned to be the first national provider of Pay-Per-View and Video on Demand services in China. Through its recent acquisition of Sinotop Group, the Company plans to offer high quality content to viewers in the People's Republic of China through Near Video On Demand (NVOD) and Video On Demand (VOD) services. China Broadband's historical core business operations have been conducted through its affiliate, and with Jinan Jia He Broadband, also known as "Jinan Broadband," the fifth largest broadband operator in China and the second largest broadband service provider in the Shandong Province's capital city of Jinan. Additionally, through its Shandong Group affiliate, China Broadband publishes digital and analog television program guides, newspapers and entertainment magazines. It holds the exclusive license to publish television program guides in Shandong Province, one of the largest regional economies in China. For more information, visit http://www.chinabroadband.tv.

Safe Harbor Statement

This press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

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