China eCapital Corporation, a leading boutique investment bank in China with a core focus on the telecom, media and technology sectors, will release a comprehensive research report on China's newspaper market on July 5, 2004. According to the report, the Chinese newspaper market will grow 18% this year to reach $4.8 billion with $3.4 billion coming from advertising and the balance from circulation.

This 36-page report provides a comprehensive overview of the market landscape, emerging trends as well as the latest regulatory updates. According to the report, the most visible investment opportunities in the sector include consolidation plays amongst major metropolitan newspapers and the rise of daily business and financial newspapers targeting higher-disposable-income readers.

The report is part two of a series of research reports published by China eCapital on the Chinese media and entertainment industries. In February this year, the firm initiated coverage of the sector with an 88-page report on the Chinese television market. Subsequent reports on the Chinese magazine, radio, film, and music markets are being prepared for future releases.

For more information, please contact Irene Tanner at (86-10) 8519-2080.