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AirMedia Announces Resignation Of Chief Financial Officer And Appointment Of New Chief Financial Officer

BEIJING, Aug, 14, 2012 /PRNewswire-Asia/ -- AirMedia Group Inc. ("AirMedia" or the "Company") (Nasdaq: AMCN), a leading operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers, today announced the appointment of Henry Ho as chief financial officer of the Company ("CFO"), effective September 1, 2012. Mr. Ho will replace Ms. Ping Sun as CFO. Ms. Sun tendered her resignation as chief financial officer due to personal reasons, effective August 31, 2012.

"We thank Ping for her leadership and integrity and wish her well in her future endeavors," commented Herman Guo, chairman and chief executive officer of AirMedia. "We're excited to welcome Henry to join AirMedia; we expect that he will bring his valuable experience and expertise in capital market and finance to help AirMedia return to profitability and achieve sustained positive earnings."

Separately, AirMedia also announced its results for the second quarter of 2012 today.

About Henry Ho

Mr. Henry Hin-hung Ho, a British citizen, aged 55, has over 28 years of experience in investment management, investment banking and research. Prior to joining AirMedia, Mr. Ho was a senior partner at Cornerstone Fund Management, a private equity fund management company based in Tianjin. From 2001 to 2008, Mr. Ho worked for several international investment banks as China strategist and/or head of China equity research, including Morgan Stanley, Merrill Lynch, UBS and Lehman Brothers. From 1999 to late 2000, Mr. Ho was a founding partner and a managing director of Atlantis Investment Management ( Asia). From 1994 to 1999, Mr. Ho was a director at Baring Asset Management ( Asia), and headed its Greater China investment team. From 1991 to 1994, Henry was a fund manager at Schroders Investment Management (HK), specializing in Asian emerging markets in Asia. From 1985 to 1991, Mr. Ho was an investment manager at James Capel Asset Management (HK). From 1983 to 1985, Mr. Ho was an investment manager at BankAmerica Trust (HK). In his early career, Mr. Ho also worked for Ernst & Young and KPMG.  During the period from 1994 to 1999, Mr. Ho served as a part-time member of the Central Policy Unit of the Government of the Hong Kong Special Administrative Region. Mr. Ho holds a degree of Master of Arts in Accounting and Finance from the University of Lancaster, United Kingdom. Mr. Ho is a fellow of the Hong Kong Institute of Certified Public Accountants. Mr. Ho has been serving as a director of several Hong Kong and Shanghai listed companies, including as a director of Tasly Pharmaceutical Group Co. Ltd. (stock code: 600535.SH) since March 2009, an independent non-executive director of Larry Jewelry Limited (stock code: 8351.HK) since February 2011, and a non-executive director and an executive director of Mongolia Investment Group Limited (stock code: 402.HK) from April 2011 to June 2012 and from march 2010 to March 2011, respectively.

About AirMedia Group Inc.



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