SHANGHAI, China, Aug. 31 /Xinhua-PRNewswire/ -- Focus Media Holding Limited (Nasdaq: FMCN - News ), China's largest out-of-home multi-platform life-style media company, today announced that it has completed its acquisition of Appreciate Capital Limited (''ACL''). ACL's network will be renamed as Focus Media's ''movie theatre network'' and will initially be included in the commercial location network when compiling financial results. Our movie theatre network currently covers over 120 movie theatres throughout China, which is expected to represent approximately 85% of the theatre ticket revenue in China.

About ACL acquisition

In July 2006, we entered into a share purchase agreement with the shareholders of ACL, a British Virgin Islands company, to purchase 70% of the equity interest in ACL. ACL, through its affiliated PRC entity, leases screen time from movie theatres in cities in China, and then sells those time slots to advertisers. Under its contracts with movie theatres, ACL has the right to three minutes of screen time prior to the screening of each movie shown in the theatre. Under the terms of the share purchase agreement, we made an initial deposit payment of $2.8 million to the shareholders of ACL upon signing. We will pay the shareholders of ACL additional earn-out payments calculated according to their attainment of certain earnings targets in respect of each of the years ending August 31, 2006, 2007 and 2008.

About Focus Media Holding Limited

Focus Media Holding Limited (Nasdaq: FMCN - News ) is China's leading out-of-home multi-platform life-style media company, which operates the largest out-of- home advertising network in China using audiovisual flat-panel displays. Based on an audience-centric approach, Focus Media provides targeted advertising channels which cover specific demographics groups and their daily activities, from office buildings to retail chain stores, residential building, shopping malls, golf country clubs, airports, and airport transit buses. As of June 30, 2006, Focus Media had approximately 70,000 display units in our commercial location network, 35,000 display units in our in-store network, 82,000 advertising poster frames installed throughout China and 75 outdoor LED displays in Shanghai. Over 2000 international and domestic advertisers had placed advertisements through our networks as of June 30, 2006. For more information about Focus Media, please visit our website http://ir.focusmedia.cn .