SOURCE: China Crescent Enterprises, Inc.

China Crescent Enterprises, Inc.

August 21, 2009 09:25 ET

China Crescent Enterprises, Inc. Reports Record Financial Results and Anticipated Price per Share Increase Supported by Potential Short Squeeze

Webcast Posted to Review $17 M in Revenue and 200% Net Income Increase to $1.1 M With Discussion on Near Term Potential PPS Increase of 50% on Way to $0.30 Target

DALLAS, TX--(Marketwire - August 21, 2009) - China Crescent Enterprises, Inc. (OTCBB: CCTR) today released an on-demand Webcast reviewing the Company's second quarter 2009 financial results recently filed on SEC Form 10-Q.

The Company 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. The first six months results beat management expectations. The Company's financial performance is ahead of the pace anticipated by management as necessary to meet year end revenue and net income growth objectives. The Company reported over $40 million in profitable revenue in 2008.

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

Today's Webcast reviews the Company's second quarter 2009 financial performance and 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 today's Webcast titled 'China Crescent 2nd Quarter Review Webcast' is now 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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