China Youth Media Enters into Joint Venture with Xinhua Finance Media

China Youth Media, Inc. (OTCBB: CHYU), a China focused youth marketing and media company, announced today that its operating subsidiaries, Youth Media Hong Kong (YMHK) and Youth Media Beijing (YMBJ), have entered into a Joint Venture Agreement with Xinhua Finance Media Limited (Nasdaq: XFML), a leading China based media and entertainment company, and China Youth Interactive, a Chinese government controlled company.

The Joint Venture Agreement with XFML will provide working capital for the purposes of deploying and marketing a Campus Network for video distribution built on the existing broadband infrastructure connecting colleges and universities throughout China. The Agreement will provide working capital for a minimum of twelve months ending December 31, 2009.

The Joint Venture Agreement builds upon the 30-year Cooperation Agreement YMHK entered into on June 10, 2008, with three Chinese government controlled companies to develop and operate the Campus Network.

XFML will work with CHYU�s subsidiaries to market and develop ad sales for the Campus Network. Additionally, XFML will collaborate on the sale and operation of brand sponsored campus events and the supply of sports and other commercial content to the Campus Network.

Jay Rifkin, CEO of China Youth Media, commented, �Xinhua Finance Media is an ideal JV partner for us, bringing immediate and extensive resources along with deep China media and advertising experience. We can now focus on deploying the Campus Network and building the revenue streams.�

"Youth Media�s Campus Network is a compelling opportunity to penetrate one of the most sought-after demographics in Asia and build a loyal following,� commented XFML's CEO, Fredy Bush. "Xinhua Finance Media is committed to supporting and capitalizing on this unique value proposition."

About China Youth Media, Inc.

China Youth Media, Inc. is a China focused youth marketing and media company whose business is to deliver advertising and content to one of the most sought after and fastest growing demographics in the world. Through its wholly owned subsidiary Youth Media (Hong Kong) Limited, China Youth Media is engaged in the business of providing advertisers and corporations with direct and centralized access to China�s massive but hard-to-reach student population. For more information, please visit http://www.chinayouthmedia.com.

About Xinhua Finance Media Limited

Xinhua Finance Media is a leading media group in China with nationwide access to the upwardly mobile demographic. Through its synergistic business groups, Broadcast, Print and Advertising, XFMedia offers a total solution empowering clients at every stage of the media process and connecting them with their target audience. Headquartered in Beijing, the company has offices and affiliates in major cities of China, including Beijing, Shanghai, Guangzhou, Shenzhen and Hong Kong. For more information, please visit http://www.xfmedia.cn.

Forward-Looking Statements

This press release contains certain forward-looking statements. These forward-looking statements can generally be identified as such because the context of the statement will include words such as China Youth Media "expects," "should," "believes," "anticipates" or words of similar import. Stockholders, potential investors and other readers are cautioned that these forward-looking statements are predictions based only on current information and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by the forward-looking statements. Certain of those risks and uncertainties are discussed in the China Youth Media filings with the Securities and Exchange Commission, including China Youth Media�s annual report on Form 10-KSB and quarterly reports on Form 10-Q. These forward-looking statements are only made as of the date of this press release and China Youth Media does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

Xinhua Finance Media Limited ADS (MM) (NASDAQ:XFML)
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