LFP - Large-Format-Printing

China New Media Corp. Appoints New Independent Director

Tuesday 08. March 2011 - China New Media Corp. (OTC Bulletin Board: CMDI) ("the Company"), China's fast-growing advertising company with current outdoor media networks located in Dalian, Shenyang, Tianjin and Shanghai, today announced the appointment of Mr. Stephen Monticelli as an independent director of the Company, effective immediately.

Mr.Monticelli will serve as the Chairman of the Auditing Committee. With this change, the Company’s Board of Directors now comprises five members, including three independent directors.
“We warmly welcome Mr. Stephen Monticelli to our board,” said James Wang, chairman and Chief Executive Officer of the Company. “His extensive experience in the capital markets and international business will assist the Company from both an operating and financial perspective. Stephen’s appointment also shows our commitment to the highest level of corporate governance. We believe that his expertise will further strengthen and improve our profile as a public company.”
Mr. Stephen Monticelli has an investment career spanning 23 years and encompassing both private and public equity. Mr. Monticelli founded Mosaic in 1996 and launched its first two funds in 1998. The Mosaic China Fund was launched in 2010. His investment career began in 1987 when he joined The Fremont Group (the primary investment vehicle for the Bechtel family) as a Principal. He was later a Managing Director with Baccharis Capital, a venture capital firm funded by another “Forbes 400” family. Prior to his investment career, Mr. Monticelli was a management consultant with Marakon Associates and a CPA with Deloitte and Touche. During his career, he has served on the Board of Directors of eleven private and public companies. He holds a BS and an MBA from the Haas School of Business at the University of California at Berkeley.