SOURCE: China Media Group Corporation

June 16, 2008 05:43 ET

China Media Group Corporation Announces Opening Line of Credit for First Shipment of 110 M.A.G.I.C. Shiv1 Units

SAN ANTONIO, TX--(Marketwire - June 16, 2008) - China Media Group Corporation (OTCBB: CHMD) ("CMG") announces today that it is in the process of opening an initial Line of Credit ("LC") for the initial purchase order of 110 M.A.G.I.C. Shiv1 units to be delivered within 2 months.

Mobile Advanced Global Integrated Communicator (M.A.G.I.C.) is one of the world's first true convergent devices for the ubiquitous platforms of today. M.A.G.I.C. is a laptop computer miniaturized to the size of a handheld device, and incorporates a mobile phone, digital camera and global positioning device, which we believe to be one of the most powerful true convergent multimedia devices of its kind in the world today. M.A.G.I.C. is able to deliver rich multimedia experiences like a powerful desktop PC because of its powerful hardware.

Mr. Con Unerkov, Chairman of China Media Group, stated, "This is truly and exciting time for the company. The highly anticipated rollout of M.A.G.I.C. to the market is fast approaching. We recently announced at the commercial launch of M.A.G.I.C. held in Malaysia that we would be placing an initial purchase order for over 5,000 units to be delivered by an initial 100, then 1,000 followed by 5,000 units. The LC for 110 units to be delivered within 2 months is the first step in this process."

Mr. Unerkov added, "Since the recent launch of M.A.G.I.C in Malaysia, the company has been encouraged with the response and the amount of enquiries it has received from companies wishing to become distributors and/or people looking to purchase a unit. We believe that M.A.G.I.C. is a device that allows people to conduct business the way they choose to and not alter their business habits as a result of the device they are using."

About China Media Group Corporation:

China Media Group Corporation (OTCBB: CHMD) is a "Next Generation" advertising / media company focusing on the very lucrative Chinese market. It has offices in China, Hong Kong and Texas, USA. The company was incorporated in Texas on October 1, 2002. The Company is currently entering the fast growing advertising industry in China and plans to expand its offices in key cities such as Shanghai, Guangzhou and Shenzhen. The Company will also cooperate with strategic partners in other cities to serve our clients for nationwide advertising coverage.

Additional information concerning other areas and topics of China Media Group can be found on our web site at http://www.chinamediagroup.net

A number of statements contained in this Report are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Certain written statements in this press release constitute "forward-looking statements" as defined under the Private Securities Litigation Reform Act of 1995. Words or phrases such as "should result," "are expected to," "we anticipate," "we estimate," "we project," "we intend," or similar expressions are intended to identify forward-looking statements. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed in any forward-looking statements. These risks and uncertainties include demand for our services, product development, our ability to maintain acceptable margins and control costs, the impact of federal, state and local regulatory requirements on our business, the impact of competition and the uncertainty of economic conditions in general, including the timely development and market acceptance of products, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses, and other factors. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. Readers are cautioned not to place undue reliance on forward-looking statements, since the statements speak only as of the date that they are made, and we undertake no obligation to publicly update these statements based on events that may occur after the date of this document.

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