SOURCE: China Crescent Enterprises, Inc.

China Crescent Enterprises, Inc.

October 16, 2009 09:05 ET

China Crescent Enterprises, Inc. Achieves $66 Million Milestone in New Outsourcing Business for 2009 With Substantial PPS Increase Potential to $0.30 Suggested Fair Value Target

DALLAS, TX--(Marketwire - October 16, 2009) - October 16, 2009 - China Crescent Enterprises, Inc. (OTCBB: CCTR) announced yesterday that the Company has signed a letter of intent to provide outsourcing services to Aoyuan Electronic Co. ltd in Dalian, China, for $36 million over three years. The Company has been marketing a new outsourcing service since the beginning of this year and has already announced an outsourcing contract earlier this year worth $30 million with Beijing Chuangzhitongda Technology Development. The two agreements together, equaling potentially $66 million in new sales contracts for 2009, are a milestone achievement for China Crescent and support the previously announced $0.30 suggested fair value target price per share.

Additionally, this week, the Company announced that it reviewed the $30 million outsourcing agreement during the outsourcing management summit meetings in China and received high marks from the client and news that the total revenue value could exceed the originally anticipated $30 million. The client's business has been enhanced as a result of the project, and consequently, the services required from China Crescent could expand as early as next year. Initial estimates suggest the total contract value could increase to as high as $50 million over three years.

China Crescent is a systems integration service provider in China that provides technology outsourcing services and sells and services brand name technologies such as Microsoft, Oracle, Cisco, IBM, HP and Dell in addition to selling and servicing innovative new technologies. The Company reported over $40 million in revenue in both 2007 and 2008 and has forecasted reporting $50 million in profitable revenue in 2009.

Outsourcing Summit Webcast Available On-Line

China Crescent has been conducting a series of meetings across four cities in China this week in conjunction with the Company's scheduled outsourcing management summit, primarily aimed at reviewing and developing the Company's growing technology outsourcing business. Yesterday, China Crescent announced the close of the summit and posted a Webcast to review the week's highlights. A link to the Webcast titled 'China Crescent Outsourcing Summit Review Webcast' is available at www.chinacrescent.com under Recent Webcasts.

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

China Crescent Enterprises, Inc. reported over $40 million in profitable revenue in 2008. The Company 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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