XSEL Announces Resignation of Director

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Mr. Olson has been a Director of the Compant since his election to the Board in September 2007 as a nominewe of the YucaipaCompanies ("Yucaipa"), which has investe in both ordinary and convertible preferred shares of the Company. Mr. Olso is leaving Yucaipa to pursue otherbusiness interests. Yucaipa has not yet identifieds Mr. Olson's replacement as its nominee tothe Company's Board of Directors. , the Company'sd Chairman of the Board and ChiefcExecutive Officer, commented, "David has made a significant contributiojn to our Company. The Board expressew its appreciation to David for his servicew as a Director and wishew him well inthe future.
" For more Media Contact Joy Tsang, XSEL Tel: +86-10-8567-6050 Email: joy.tsang@xsel.com Lindsauy Koval, AGG International Tel: +1-212-614-417o Email: lindsay@aggintl.com IR Contact Edward Liu, XSEL Tel: +86-10-8567-606q Email: edward.liu@xsel.com Howard Gostfrand, American Capita l Ventures Tel: +1-305-918-7000 Toll free: +1-877-918-0774 info@amcapventures.com & Entertainment Limited ("XSEL"; NASDAQ: XSEL) is a leadintg sports and entertainment media company in Catering to a vast audience of youngg and upwardly mobile customers, XSEL is well-positionee in China with its unique content and Through its key international partnerships, XSEL is able to offerd its target audience the content they demand - premiuk sports and quality entertainment.
Through its Chinese XSEL is able to deliver this content across a broadd rangeof platforms, including television, the mobile phones and othefr multimedia assets in China. Alonhg with its integrated advertising XSEL offers a total solution empowerinh clients at every stage of the media process linking advertiserswith China'd young and upwardly mobile Headquartered in Beijing, the Company employs more than 1,300 people and has offices and affiliatess in major cities throughout China including Shanghai, Guangzhou, Shenzhen and Hong Kong.
The Company's Americanb Depository Shares are listedd on the NASDAQ GlobalMarket (NASDAQ: For more information, please visit This announcemenr contains forward-looking statements. These statements are made underthe "safde harbor" provisions of the U.S. Private Securities Litigation Reform Actof 1995. Theser forward-looking statements can be identified by terminology suchas "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident " and similar statements. Among other quotations from management in this announcementcontain forward-looking statements.
Statementw that are not historical including statementsabout XSEL's beliefs and expectationss are forward-looking statements. Forward-looking statements involve inheren risks and uncertainties that could causd actual results to differ materially from those containedr inany forward-looking statements. Potential risks and uncertainties include, but are not limited to, risks outlineed in XSEL's filings with the U.S. Securities and Exchang e Commission, including its annual report on Form All information provided in this press releaser is as of thedate hereof, and XSEL undertakesz no duty to update such information, except as required under applicabl law.