Company penetrates into traditional media and strengthens leadership in digital media advertising

AirMedia Group Inc., operator of the largest digital media network in China dedicated to air travel advertising, today announced that it recently obtained the contractual concession rights to operate various traditional advertising media in Beijing Capital International Airport and Shenzhen International Airport and digital frames in the baggage claim areas in Beijing Capital International Airport. In addition, AirMedia also renewed its concession rights contract for digital TV screens in Shenzhen International Airport.

AirMedia entered into a concession rights contract with Beijing Capital International Airport to operate traditional advertising formats including billboards, light boxes and other formats in 376 locations at Terminals 1, 2, and 3 of Beijing Capital International Airport from April 1, 2009 to March 31, 2012. AirMedia will start operating most of these 376 locations on April 1, 2009. In the same contract, AirMedia also obtains concession rights to operate digital frames in the baggage claim areas in all of the three Terminals from April 1, 2009 to March 31, 2012. Previously, AirMedia only operated digital frames in the departure areas of Terminals 2 and 3. The newly obtained concession rights will significantly enhance AirMedia's digital frame presence in the arrival areas to meet advertisers' strong demands for advertisements in Beijing Capital International Airport.

AirMedia also entered into a concession rights contract with Shenzhen International Airport to operate 90 light boxes in the arrival walkways of Terminals A and B of Shenzhen International Airport from April 1, 2009 to December 31, 2011. AirMedia will start operating the light boxes in most of these 90 locations on April 1, 2009.

"We are excited about the signing of these contracts as we expected in our fourth quarter 2008 earnings release. These contracts also opened a new era for AirMedia to become a one-stop operator of both digital and traditional media in the air travel advertising sector with a leading market share. We believe we are now better positioned to broaden and integrate our customer base, strengthen our pricing power and further enhance our relationships with airports and airlines," commented Herman Guo, chairman and chief executive officer of AirMedia.

In a separate concession rights contract with Shenzhen International Airport, AirMedia also renewed its concession rights contract to continue operating digital TV screens in Shenzhen International Airport from January 1, 2009 to December 31, 2011.

Taking into account the above new concession rights contracts and some other concession rights contracts expected to be entered into, AirMedia currently expects that total concession fees for all the product lines in the second quarter of 2009 will be at least US$30.3 million.

About AirMedia Group Inc.

AirMedia Group Inc. operates the largest digital media network in China dedicated to air travel advertising. AirMedia has contractual concession rights to operate digital TV screens in 53 airports, including all of the 30 largest airports in China. AirMedia also has contractual concession rights to operate TV-attached digital frames ranging from 46 to 52 inches and stand-alone digital frames ranging from 63 to 82 inches in 22 major airports. In addition, AirMedia has contractual concession rights to place its programs on the routes operated by 10 airlines, including the three largest airlines in China, and the exclusive rights in mainland China to sell advertisements on Cathay Pacific Airline and Dragonair's routes. In select major airports, AirMedia also operates traditional media platforms, such as billboards, light boxes, and mega display screens.