SOURCE: China Crescent Enterprises, Inc.

China Crescent Enterprises, Inc.

October 13, 2009 09:00 ET

China Crescent Enterprises, Inc. in Final Negotiations for Anticipated New $15 Million Contract to Provide Back Office and Strategic Technology Services

DALLAS, TX--(Marketwire - October 13, 2009) - China Crescent Enterprises, Inc. (OTCBB: CCTR) announced that the Company met in Dalian, China today with a pending new outsourcing client to discuss terms for an anticipated $15 million contract to provide back office and strategic technology services. These meetings in Dalian were scheduled as part of China Crescent's previously announced Shanghai management summit being conducted this week.

Yesterday, China Crescent began the Shanghai management summit meetings with a review of the Company's first major outsourcing agreement signed earlier this year worth $30 million over three years. China Crescent has 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 has reported over $40 million in annual revenue the last two years. This year the Company has focused on larger, long-term outsourcing contracts and has forecasted $50 million in profitable revenue for 2009. The Company reported record net income of $1.1 million through the first half of 2009 on $17 million in revenue and anticipates record operating income to continue throughout the year.

Shanghai Summit Webcast Scheduled for Thursday October 15th

China Crescent has scheduled to release an on-demand Webcast this Thursday, October 15th to report on this week's management summit in Shanghai. A link to the Webcast is scheduled to be available on the Company's website www.chinacrescent.com upon release.

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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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