Starr International Company, Inc. to Purchase 1.5M Shares from Founders of China MediaExpress

China MediaExpress Holdings, Inc.

today announced that Starr International Company, Inc., through its wholly-owned subsidiary, Starr Investments Cayman II, Inc., has agreed to purchase an aggregate of 1.5 million shares of the Company's common stock in two private transactions. Mr. Ou Wen Lin and Mr. Qing Ping Lin, two of CME's founding shareholders, through their holding companies, Thousand Space Holdings Limited and Bright Elite Management Limited have agreed to sell 1,000,000 and 500,000 shares of the Company's common stock, respectively, to Starr International at $9 per share.