"We are very pleased to have someone of Dan's pedigree joining our team," said Ms. Fredy Bush, CEO of Xinhua Finance. "His range of experiences in the Asian investment community and twenty-three year career in the international financial information sector make him a perfect fit for the global nature of our growing Xinhua Finance family."

As former President and CEO of financial data provider ComStock, Dan Connell brings a wealth of industry experience and contacts to Xinhua Finance. Before being named CEO of ComStock which was acquired by Interactive Data from Standard & Poor's in March 2003, he was Executive Managing Director at Standard & Poor's, with overall responsibility for the Retail Market Services which included the ComStock Business Unit, Reference Markets, Advisor Services and The Outlook, and the Asian operations of Standard & Poor's Investment Services. Prior to S&P, Dan held a variety of operational positions at British Airways' subsidiary Bedford Associates, as well as a ten-year career with the American Express Company.

Jae Lie, who has been promoted from COO to President, will now focus his efforts in our growth strategies, with particular focus on the terminal business as well as China related initiatives, assisting the company to continue growingly rapidly for the foreseeable future.

"Jae Lie has proven himself an invaluable asset to the company over the last five years and is well-suited to the role of President, where he will continue to draw on his significant international business experience and assume an increasingly public role for Xinhua Finance," continued Ms. Bush. "I look forward to working closely with both Jae and Dan as we continue to expand our business and build more bridges between China's financial markets and the world."

"As the Chinese market continues to internationalize, a company as pioneering and focused as Xinhua Finance is uniquely positioned for success," said Dan Connell. "I'm proud to join such a global team of ambitious professionals, and excited to take part in the growth of this new generation of financial services."

"I also extend a warm welcome to Dan, on behalf of all of us here at Xinhua Finance," added Jae Lie. "His proven skills will undoubtedly help our company to seize and create value from the Chinese market. I would also like to express my thanks to Fredy and the Board for my appointment to President, and welcome the new opportunities it brings."