SHANGHAI, China, Sept. 19 /Xinhua-PRNewswire/ -- Focus Media Holding
Limited (Nasdaq: FMCN) today announced a secondary offering by certain of its
existing shareholders of 2,459,345 American depositary shares ("ADSs"), each
representing ten ordinary shares, at a price to the public of $57 per ADS.
All of the shares in the offering are being offered by the selling
shareholders, consisting of David Feng Yu, the ex-CEO of Target Media, who
currently serves as our co-chairman and president, certain Carlyle funds, and
other former shareholders of Target Media. The remaining shareholdings of
these parties are subject to lock-up with the Company until February 28, 2007.
Focus Media will not receive any proceeds from the sale of ADSs in this
offering.
Credit Suisse Securities (USA) LLC is serving as the sole bookrunning
manager for this offering.
The offering of these securities is being made only by means of a
prospectus supplement, filed in connection with the filing of an automatic
shelf registration statement by Focus Media. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or jurisdiction.
About Focus Media Holding Limited
Focus Media Holding Limited (Nasdaq: FMCN) 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
ir.focusmedia.cn.
SOURCE Focus Media
-0- 09/19/2006
/CONTACT: Investor and Media Contact: Jie Chen, Focus Media Holding Ltd,
+86-21-3212-4661 ext 6607, ir@focusmedia.cn/
/Web site: http://ir.focusmedia.cn /
(FMCN)
CO: Focus Media
ST: China
IN: ADV MLM CPR
SU: OFR ASI
KC
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7566 09/19/2006 16:42 EDT http://www.prnewswire.com