SOURCE: China Crescent Enterprises, Inc.

November 17, 2008 10:06 ET

China Crescent Enterprises, Inc. Gains Profitability Traction Reporting $516K in Net Income on $30 Million in Revenue Through 3rd Quarter 2008

Webcast Scheduled for 3:30 EST Wednesday, November 19, 2008 to Review YTD Performance and 2008 Outlook

DALLAS, TX--(Marketwire - November 17, 2008) - China Crescent Enterprises, Inc. (OTCBB: CCSE) today announced that the Company has filed SEC Form 10-Q reporting the Company's performance for the third quarter and first nine months of 2008.

China Crescent reported $30.3 million in revenue for the first nine months of 2008 compared to $27.9 million in revenue for the same period last year. Notably, net income increased over 1,300 percent to $516,999 for the first nine months of 2008 compared to $36,010 for the same period last year.

Management points out that the Company is still an early stage operation having only listed publicly through a reverse merger approximately two years ago. The net income increase is a healthy indication of the Company's improving maturity.

Management is confident that the Company is on track to realize its forecasted $50 million 2008 revenue target. The Company historically reports the majority of its revenue in the second half of the fiscal year.

Third Quarter Financial Webcast

China Crescent management will review YTD financials in a Webcast scheduled for 3:30 pm EST on Wednesday, November 19, 2008. The Webcast link will be available on the Company's corporate Website at www.chinacrescent.com.

Corporate E-mail Updates

To be added to China Crescent's e-mail database to receive company updates or to obtain more information on the Company, please send an e-mail to ir@chinacrescent.com or call 214-722-3065.

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

China Crescent Enterprises, Inc. 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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