SOURCE: China Crescent Enterprises, Inc.

China Crescent Enterprises, Inc.

August 24, 2009 09:10 ET

China Crescent Enterprises, Inc. Credited for Deloitte Recognition

Tech Titans Fast Tech Finalist

DALLAS, TX--(Marketwire - August 24, 2009) - China Crescent Enterprises, Inc. (OTCBB: CCTR) today announced receiving notable credit in the Metroplex Technology Business Council's (MTBC) Tech Titan Fast Tech award for the fastest growing technology companies in the Dallas-Fort Worth (DFW) area as compiled by Deloitte. The North Texas area contains over 4,000 technology firms making it a very competitive arena. China Crescent reported $17 million in revenue and an over 200% net income increase to $1.1 million through the first six months of 2009. The Company has forecasted profitable revenue growth in 2009 compared to 2008, in which the Company reported over $40 million in profitable revenue.

"China Crescent's growth has driven our Deloitte recognition," said Philip Verges, founder, board member and CEO of China Crescent's largest shareholder, NewMarket Technology, Inc. "Bolstered by China Crescent's aggressive growth, our consolidated financial growth continues to win recognition by Deloitte for fast growth in the technology sector. This is the sixth year in a row the consolidated company has been named to the Tech Titan's list, being recognized twice as the number one fastest growing company. The consolidated company was recognized as the third fastest growing technology company in the United States in 2006."

The Tech Titan Fast Tech program recognizes the fastest-growing technology companies in the DFW area, based on percentage revenue growth over five years (2004 to 2008) as well as percentage revenue growth over one year (2007-2008). The Tech Titans Award Ceremony will be held Friday, August 28th. For more information on the Tech Titan awards, please visit http://www.metroplextbc.org/Events/Tech-Titans.aspx.

Webcast to Review Q2'09 Results, 2009 Outlook and $0.30 PPS Target PPS

The Company recently released a Webcast reviewing the Company's second quarter 2009 financial performance, which includes an update on Management's optimistic outlook on the Company's 2009 forecasted revenue and net income growth in light of the Q2 results and the recently announced sales contracts. The Webcast also includes a review of the $0.30 fair value target pps and the ongoing potential short squeeze.

A link to the Webcast titled 'China Crescent 2nd Quarter Review Webcast' is available on the Company's corporate website under Recent Webcasts at www.chinacrescent.com.

Corporate E-mail Updates

To sign up to receive company updates or to obtain more information on the Company, please visit www.chinacrescent.com.

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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