Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent Enterprises, Inc. and NuMobile, Inc. Announce Letter of Intent for $1 Million Mobile Computing Project in Kenya
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - October 9, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
and NuMobile, Inc. (OTCBB : NUBL ) today announced signing a letter of intent
(LOI) for a mobile computing project worth approximately $1 million in
potential revenue with a company in Kenya, and the Companies have further
announced that the transaction is anticipated to close in conjunction with
the upcoming Trade Mission to Kenya. The two Companies have been in
Nairobi, Kenya this week meeting on myriad opportunities in the region and
preparing for the previously announced Trade Mission. The two companies
have entered into a partnership to combine NuMobile's smartphone and mobile
computing technology solutions with China Crescent's systems integration
expansion into East Africa in the launch of WiMax services in Africa.
Eyes to Africa as Next Emerging Market for Technology and
Telecommunications Infrastructure Growth
The rising market in Africa for mobile phones and supporting applications
and infrastructure have been making headlines lately. In its printed
edition on October 5th, the New York Times featured an article on Africa
having "the fastest-growing mobile phone market worldwide" titled "In Rural
Africa, a Fertile Market for Mobile Phones"
(http://www.nytimes.com/2009/10/06/science/06uganda.html?_r=2&ref=world).
The September 24th edition of The Economist magazine also focused on Africa
in a special report on telecommunications in emerging markets. The special
report, titled "The Power of Mobile Money"
(http://www.economist.com/opinion/displaystory.cfm?story_id=14505519) is
featured on the front cover of the magazine and includes five articles.
African mobile voice and data communications are featured throughout the
special report. Of particular interest is an article titled "Up, up and
Huawei"
(http://www.economist.com/specialreports/displaystory.cfm?story_id=14483904) about China's telecom leadership in Africa and "Beyond Voice"
(http://www.economist.com/specialreports/displaystory.cfm?story_id=14483848) which explores the use of mobile applications in Africa.
In addition to the growing market for mobile phones in Africa, broadband
adoption on the continent is also expected to experience 28% growth
annually through 2013 as undersea cables come online. The expanded
capacity for broadband is expected to reduce costs by nearly 75%, making
broadband affordable to end-users. A recent report by Pyramid Research
stated, "By early 2011, we expect that more than half of all African
markets will have 3G, while broadband coverage is increasing daily via both
wireless and wireline technologies."
Correspondingly, the need for technology infrastructure products and
services is expected to grow in the region. As the region's technology
needs and mobility use increase, China Crescent and NuMobile plan to be
well positioned to offer both the technology infrastructure needed as well
as the latest smartphone and mobile computing technologies.
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Company, please visit www.chinacrescent.com.
About NuMobile, Inc. (www.numobileinc.com)
NuMobile is building a portfolio of security and software solutions for the
global mobile computing and smartphone market. Through a roll-up strategy,
NuMobile plans to acquire and develop mobile computing solutions for a
variety of applications, including mobile banking, for the global
marketplace. The demand for mobile security and software applications is
being driven in large part by the growing number of mobile phone sales into
emerging economies that currently do not have substantial access to the
Internet via desktop computing. Already in North America, the Company has
also forged a partnership in the Chinese market and is developing a plan
for the emerging economies of Latin America and East Africa. NuMobile is a
SEC fully-reporting public company listed on the Over-the-Counter Bulletin
Board.
About China Crescent Enterprises, Inc. (www.chinacrescent.com)
China Crescent Enterprises, Inc. reported over $40 million in profitable
revenue in 2008. The Company 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, China
Crescent 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. China Crescent
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 China Crescent'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.