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China Crescent Enterprises, Inc.: China Crescent Enterprises, Inc. Files Form 8-K on $30 Million Outsourcing Services Agreement

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^{Published in Science and Technology on Monday, June 8th 2009 at 13:11 GMT, Last Modified on 2009-06-08 13:12:04 by Market Wire}  

DALLAS, TX--(Marketwire - June 8, 2009) - China Crescent Enterprises, Inc. (OTCBB: [ CCTR ]) today announced the Company has filed a Form 8-K regarding the recent $30 million outsourcing services agreement with Shanghai-based Beijing Chuangzhitongda Technology Development. The $30 million in contract revenue is expected to be earned over the three year contract period. Because of the size of the agreement in relation to the Company's over $40 million in 2008 revenue, the Company has filed a Form 8-K on the material agreement.

The new outsourcing service offering is part of the Company's overall strategy to increase margins and the percentage of its overall revenue generated from recurring contracts. Beijing Chuangzhitongda Technology Development is China Crescent's first outsourcing customer. China Crescent anticipates engaging additional outsourcing customers over the course of the year.

Company Anticipates Reporting Increased Earnings per Share in Q2 '09

Last week, the Company released a letter to shareholders from CFO Philip J. Rauch. In the letter Mr. Rauch addresses the Company's improving operational maturity, recent recapitalization and anticipated earnings per share increase in the second quarter of fiscal year 2009. In 2008, the Company reported over $40 million in revenue with more than $600,000 in net income.

The letter is available in its entirety at: [ http://finance.yahoo.com/news/China-Crescent-Enterprises-iw-15430380.html ].

Outsourcing Strategy Webcast

China Crescent recently released an on-demand Webcast to present the Company's new outsourcing services strategy and the new services' benefits to customers, the Company and shareholders.

A link to the Webcast titled 'China Crescent Outsourcing Services Strategy Webcast (June 2, 2009)' is available on the Company's website under Webcasts at: [ http://www.newmarkettechnology.com/about-newmarket-china.htm ].

Corporate E-mail Updates

To be added to China Crescent's e-mail database to receive company updates or to obtain more information on the Company, please send an e-mail to [ ir@chinacrescent.com ] or call 214-722-3065.

About China Crescent Enterprises, Inc. ([ http://www.chinacrescent.com/ ])

China Crescent Enterprises, 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, 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.