BEIJING (EMWNews) August 11, 2008 —

The Cisneros Group

of Companies, a global media and entertainment company headed by the

entrepreneur Gustavo

Cisneros, and China Central Television (CCTV), the principal media

company in the People’s Republic of China,

signed a groundbreaking agreement during the 2008 Summer Olympic Games

in Beijing, allowing CCTV and Venevision

International, a Cisneros Group Company, to pool their resources to

distribute television programming in their respective markets, in an

effort to improve awareness of both Hispanic and Chinese culture.

This breakthrough agreement for the international media industry —

between two of the world great cultures – was

signed by Gustavo Cisneros, Chairman and CEO of the Cisneros Group of

Companies and Mr. Zhao Hua Yong, President of CCTV, accompanied by Mr.

Li Jian, President of China International Television Corporation, Mr.

Luis Villanueva, President of Venevision International and Mr. Ma

Runsheng, General Manager of CPEC and Assistant to the President of

CITVC, among other executives from these organizations.

This is the final step in a four-year effort to mutually open the

Chinese and Ibero-american markets, led by Venevision International, the

entertainment company of the Cisneros Group, and CITVC, the corporation

that owns the rights to and distributes CCTV’s

programming worldwide.

Gustavo Cisneros views the fast-growing Chinese market with intense

interest, given the business potential of its increasingly open media

environment. The Cisneros Group is internationally known for its

aggressive global growth strategy and the popularity of its programming,

broadcasting in 104 countries and more than 20 different languages.

CCTV, on the other hand, is well known for the high quality of its

productions and its increasingly expanding international presence,

taking advantage of the world audience’s

interest in China due to its powerful presence in the world economy and

fascinating culture. Especially in August all eyes are in China,

celebrating the 2008 Summer Olympic Games in Beijing.

About the Cisneros Group of Companies

The Cisneros Group of Companies is one of the largest privately held

media, entertainment, telecommunications and consumer products

organizations in the world. The Cisneros Group owns or holds interests

in companies ranging from broadcast television, television production,

and telecommunications to beverage businesses and travel resorts.

Through its diverse businesses and world-class partnerships, the

Cisneros Group of Companies delivers some of the top brands and

highest-quality services to the 550 million Spanish- and

Portuguese-speaking consumers in the Americas and Europe. The Cisneros

Group sells TV programming and other media content on five continents

and in over 90 countries.

About CCTV

China Central TV (CCTV) is China’s largest

national TV network. CCTV first broadcast in 1958. By 1985 it was China’s

major television network. Today it operates 16 channels throughout

China, most offering 24-our broadcasting, and a High Definition channel.

CCTV programming is also available overseas and in languages including

English, Spanish and French.

About Venevision International

Venevision International is an entertainment company part of the

Cisneros Group with more than 30 years in the market. Its projects are

part of the business development strategy designed by Gustavo Cisneros,

Chairman and CEO of the Cisneros Group of Companies. Venevision

International distributes television programming throughout the world

and is one of the largest independent producers of television programs

in Spanish. The company also distributes films in Spanish for theater,

pay-per-view, home video, paid and free television in the United States,

where it broadcasts its movie channel, Vene Movies. Venevision

International also does business in the international arena of music

with its record label, Vene Music, and Siente Music; and mobile

entertainment with Venemobile and LatCel. The company is also a pioneer

in the area of “product integration”

through Synapsys International.

About CITVC

China International Television Corporastion (CITVC) is a wholly-owned

subsidiary of CCTV. CITVC was founded in 1984 and is now the largest and

most profitable media company in China. Its business includes program

production and distribution, audio and video publishing, advertising.

Pay TV, market research, technical development, investment, and tourism

services. CITVC is the global marketing agent for program copyrights

owned by CCTV and is the sole authorized agent for importation of

foreign TV programs to China.

Keyword Tags: cisneros group, gustavo cisneros, venevision