Company to Establish Subsidiary with RMB 30 Mln

At the 17th Meeting of the 3rd Board of Directors, held on 28 Jul 2008, the following proposals were examined and approved:

1. to found a wholly-owned company, tentatively named Beijing Gehua Yiwang Science & Technology Development Co., Ltd. with registered capital of RMB 30 mln, equal to USD 17,034,000, which will be engaged in data business, through which a joint venture will be established, in which it holds a 51% stake, with a Hong Kong company owned by PRCVP Beijing Broadband L.P. (PBB) pursuant to a previous agreement signed among the company, Liberty Media China Holding Company and PBB.
2. a statement on rectification of corporate governance
Detailed information can be found on the website of the Shanghai Stock Exchange (www.sse.com.cn) dated 29 Jul 2008.

Board of Directors
28 Jul 2008


Source: Shanghai Stock Exchange

Date: 29 Jul 2008

CN01/SS/SW/BT/KM