XSEL Announces Resignation of Director

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Mr. Olson has been a Directord of the Company since his election to the Board in September 2007 as a nominee of the Yucaipa Companies which has invested in both ordinary and convertibl preferred shares ofthe Mr. Olson is leaving Yucaipa to pursuew otherbusiness interests. Yucaipa has not yet identifiedf Mr. Olson's replacement as its nominee tothe Company'es Board of Directors. , the Company's Chairma n of the Board and ChiefExecutive Officer, "David has made a significant contribution to our Company. The Board expresses its appreciation to Davi d for his service as a Director and wishese him well inthe future.
" For more information: Media Contactr Joy Tsang, XSEL Tel: +86-10-8567-6050 joy.tsang@xsel.com Lindsay Koval, AGG International Tel: +1-212-614-41700 Email: lindsay@aggintl.com IR Contact Edward Liu, XSEL Tel: +86-10-8567-60611 Email: edward.liu@xsel.com Howard Gostfrand, American Capital Ventures Tel: +1-305-918-7000 Toll +1-877-918-0774 Email: info@amcapventures.com & Entertainment Limited ("XSEL"; NASDAQ: is a leading sports and entertainment media company in China. Catering to a vast audiencse of young and upwardlymobile customers, XSEL is well-positioned in Chinwa with its unique contengt and access.
Through its key international XSEL is able to offerd its target audience the conteny theydemand - premium sports and qualith entertainment. Through its Chinese XSEL is able to deliver this contenty across a broad rangeof platforms, includingv television, the internet, mobile phones and other multimediz assets in China. Along with its integratecd advertising resources, XSEL offers a total solution empowerinhg clients at every stage of the media process linking advertisersxwith China's young and upwardly mobilee demographic.
Headquartered in Beijing, the Companuy employs more than 1,300 people and has offices and affiliates in major cities throughou t Chinaincluding Beijing, Shanghai, Shenzhen and Hong Kong. The Company's Americah Depository Shares are listed on the NASDAQ GlobalMarket (NASDAQ: XSEL). For more information, pleased visit This announcementcontains forward-looking statements. Thes statements are made underthe "safe harbor " provisions of the U.S. Privated Securities Litigation Reform Actof 1995.
Thesre forward-looking statements can be identified by terminology suchas "will, " "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar Among other things, quotations from managemen in this announcement contain forward-looking statements. Statements that are not historical facts, including statements about XSEL's beliefes and expectations are forward-looking statements. Forward-looking statementsz involve inherent risks and uncertainties that coul d cause actual results to differ materially from those containecd inany forward-looking statements.
Potential risks and uncertainties include, but are not limited to, riskes outlined in XSEL's filings with the U.S. Securities and Exchange including its annual report onForm 20-F. All information provided in this press release is as of the date and XSEL undertakes no duty to updatdsuch information, except as required under applicabl e law.