Contact Information: Contact: NewMarket China, Inc. Investor Relations 214-722-3065 ir@newmarketchina.com www.newmarketchina.com
NewMarket China, Inc. Announces Plans to Change Corporate Name to China Crescent Enterprises, Inc.
Name Change Will Highlight the Company's Independent Direction to Be Discussed in Strategic Plan Update Webcast Scheduled for May 14, 2008 at 4:30 PM EDT
| Source: NewMarket China, Inc.
DALLAS, TX--(Marketwire - May 7, 2008) - NewMarket China, Inc. (OTCBB : NMCH ) today
announced the Company's plans to change its corporate name to China
Crescent Enterprises, Inc. The name change, which has already been approved
by the Board of Directors, is meant to reflect the Company's independent
direction. When the Company's core operations were established in January
of 2005, they were purposely designed to resemble its parent company. Now
the Company has developed to a point where the similarities between the two
organizations are becoming fewer, and the Company's forward-looking plans
will likely broaden the difference between the two. The name change will
formally become effective upon satisfaction of various State of Nevada and
Securities and Exchange Commission administrative requirements. In
conjunction with the name change, the Company will also apply for a new
CUSIP and ticker symbol.
New Lines of Business
Last week, NewMarket China announced plans to expand current operations
into new lines of business (http://biz.yahoo.com/iw/080430/0392162.html).
The Company currently provides a wide range of technology services to
include hardware and software sales, support and customization. The Company
has already expanded its software development services outside of China and
signed initial contracts in North America. The news lines of business are
set to be discussed in the Company's upcoming Webcast on May 14, 2008.
Recent CEO Letter to Shareholders
NewMarket China last week released a letter to shareholders from CEO John
T. Verges. The letter highlights the Company's rapid growth to $40 million
in revenue and its improving financial performance over the past five
quarters since the Company's reorganization. Additionally, the letter goes
on to discuss how the current share price performance has not yet reflected
the Company's fundamental financial performance. The letter, which provides
thoughtful internal analysis on share price performance potential, is meant
to provide insight to shareholders and investors in regard to management's
ongoing commitment to the Company's vision while current market performance
is not necessarily conveying fundamental financial progress. The CEO's
intention is to open a dialogue with shareholders and investors on the
relationship between operational performance and share price performance.
To receive a copy of the letter in its entirety, contact the Company at
ir@newmarketchina.com or 214-722-3065.
Strategic Plan Update Webcast Scheduled for May 14, 2008 at 4:30 PM EDT
The Company has scheduled a Webcast for 4:30 pm EDT on May 14, 2008 to
present a strategic plan update. A link to the Webcast will be available at
http://www.investorcalendar.com/IC/CEPage.asp?ID=127668.
Also available at this link is an archive to the recent Webcast reviewing
2007 operational and financial results conducted by the Company CEO and
CFO.
Corporate Fact Sheet and Email Updates
If you would like to receive a corporate fact sheet highlighting the
Company's operations, business plan and technology partners, or to be added
to the corporate e-mail list for updates, please send an e-mail to
ir@newmarketchina.com or call 214-722-3065.
About NewMarket China, Inc. (www.newmarketchina.com)
NewMarket China, Inc. is a technology leader in the rapidly developing
Chinese market specializing today in software engineering, high quality
software development and digital multimedia outsourcing services delivered
to customers globally. At the same time, the firm is a systems integrator
and value added reseller of major global hardware brands in the Chinese
domestic market.
Headquartered in Dallas with operations in Shanghai and Beijing, NewMarket
China bridges the gap between Western and Eastern business cultures to
assist western clients in realizing the advantages of the high quality, low
cost technology products and services available from China. NewMarket China
also assists Western clients in localizing products and services to realize
the tremendous growth potential available by expanding into the Chinese
Market.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995
This press release contains forward-looking statements that involve risks
and uncertainties. The statements in this release are forward-looking
statements that are made pursuant to safe harbor provision of the Private
Securities Litigation Reform Act of 1995. Actual results, events and
performance could vary materially from those contemplated by these
forward-looking statements. These statements involve known and unknown
risks and uncertainties, which may cause NewMarket's actual results in
future periods to differ materially from results expressed or implied by
forward-looking statements. These risks and uncertainties include, among
other things, product demand and market competition. You should
independently investigate and fully understand all risks before making
investment decisions.