SCCC Sun 3C Media

RNS Number:0783N
Sun 3C Media PLC
01 December 2006


                                 Sun 3C Media Plc
                           ("Sun 3C" or the "Company")

                Acquisition of Rights to the China Business Post


Sun 3C Media plc ("Sun 3C"), the integrated new media company listed on AIM
(AIM: SCCC) announced today that it had entered into agreements to acquire an 80
per cent interest in the companies holding the sales, marketing and distribution
rights to the China Business Post ("the Business Post Rights") and a 100 percent
interest in 21 CN Business News Agency, Ltd, ("21 CN") a multimedia business
information services provider, for an aggregate consideration of #5.28 million,
satisfied by the issue of 26.4 million ordinary shares of Euro0.01 in Sun 3C 
("Ordinary Shares") at a price of 20 pence per share.

The China Business Post is one of the leading weekly business newspapers in
China reaching 300,000 readers per week with strong brand equity and a talented
editorial team.

The acquisition of the Business Post Rights, which is conditional upon the
approval of the shareholders of one of the vendors,  will give Sun 3C:
     
-    the sales, marketing and distribution rights to a well-respected Chinese 
     media brand;
-    access to China-focused business content for use across multiple media
-    the use of the China Business Post brand for online community building;
-    access to 21CN's database of 5 million business executives in China;
-    online content development expertise.; and
-    personnel to execute Sun 3C's strategy, including Mr. He Li, China Business 
     Post's President and Chief Executive.

The directors of Sun 3C intend to launch a daily digital version of the paper,
the China Business Post Express, a mobile edition, CBP Mobile, and an
English-language edition for distribution outside of China in 2007.

The access to content and rights gained in the Business Post Rights acquisition
and the subscriber base gained will serve as the foundation for the roll-out of
a series of branded, cross-media business information and learning products that
address the enormous unmet demand amongst Chinese urban professionals for
relevant, in-depth business content, accessible across multiple media channels.

He Li, the President and Chief Executive of the China Business Post, is one of
China's most respected newspaper publishers.  He founded the China Economic
Observer, China's most popular daily business newspaper, in 2000 and is listed
as one of the top 100 most influential media people in China. He has also hosted
and produced numerous award winning economic review programs on Beijing TV and
China Central Television.

According to the terms of the acquisitions, Sun 3C is acquiring an 80 per cent.
interest in Caijing Times Advertising Corporation, Ltd ("Caijing") and Optima
Media International, Ltd, ("Optima") which between them control the sales and
marketing and distribution rights for the China Business Post, from Sun Business
Network for a consideration of #4.28m, satisfied by the issue of 21,400,000
Ordinary Shares at 20 pence per share.

The remaining 20 per cent. interest in both Caijing and Optima is being acquired
by Sun Media Investment Holdings, Limited, a company controlled by Dr. Bruno Wu,
Chairman and controlling shareholder of Sun 3C.

Sun 3C is also acquiring the entire issued share capital of 21 CN Business News
Agency Limited for a consideration price of #1 million, to be satisfied by the
issue of 5,000,000 Ordinary Shares at 20 pence per share.  The acquisition of 21
CN contains a condition whereby the vendors of 21 CN must make a cash repayment
to Sun 3C in the event that 21 CN fails to report profit after taxation of at
least #200,000 for the year ending 31 December 2007.

The vendors of Caijing, Optima and 21 CN include companies controlled by Bruno
Wu, Executive Chairman of Sun 3C, and in addition Ricky Ang, a director of Sun
3C, is  Managing Director and Vice-Chairman of Sun Business Network.
Accordingly the acquisitions are considered to be a transaction with a related
party under the AIM Rules.

The directors of Sun 3C, other than Bruno Wu and Ricky Ang, have consulted with
Corporate Synergy Plc, the Company's nominated adviser, and are of the opinion
that the terms of the transaction are fair and reasonable insofar as Sun 3C's
shareholders are concerned.

Financial Information on the target companies.

In the 15 months to 31 March 2006, the first audited period under their current
ownership, Caijing and Optima together reported a loss of RMB20.1m (#1.3m) on
revenue of RMB4.9m (#319,000).  However, in the six months to 31 October 2006
the unaudited loss was RMB7.1m (#461,000) on revenue of RMB5.8m (#375,000) and
the financial performance of the two companies has continued to improve.

21CN is a newly incorporated company, formed specifically for the purpose of
holding the rights to the database and  multimedia development team for the
China Business Post and as such has not produced any financial results to date.

Bruno Wu's interest in the company as at the date of this announcement and,
subject to regulatory and shareholder approval, will be as a result of these
acquisitions:


                        As at the date of this announcement         Following completion of the
                                                                           acquisitions
                      Number of Ordinary     Percentage of    Number of Ordinary     Percentage of
                            Shares           issued share           Shares           issued share
                                                capital                                 capital
Bruno Wu                  248,475,030            64.5%            274,875,030            66.8%


Mr. Matthew Burr, CEO of Sun 3C Media commented:

"These deals will give us the operational and content strength to build a
leading business information brand in China, giving us yet another content-rich
communication channel with our key demographic and opening up numerous new
potential revenue streams, in line with our content, community and commerce
agenda.  The China Business Post is one of the leading business newspapers in
China and will be of enormous significance to the company as we move forward.
We are also very excited that Mr. He Li will be joining our team. He is one of
the most respected figures in China's business media space and will be a great
asset to the company as we continue our rapid growth."



Enquiries:

Sun 3C Media:
Matt Burr / John McKeon                            020 7638 9571

Corporate Synergy
William Vandyk                                     020 7448 4400

Citigate Dewe Rogerson
Martin Jackson / Nina Soon / Hannah Seward         020 7638 9571


About Sun 3C Media:

Sun 3C Media Plc is a consumer media company delivering cross-media content,
community, and commerce applications in mainland China. The company manages a
network of interactive communication channels from mobile to internet to TV, and
owns the rights to a number of leading traditional media brands in China.  Sun
3C is positioning itself as China's leading integrated, multi-platform media
company creating new media products and services that leverage recognised
traditional media brands.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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