BEIJING, July 17 (UPI) -- Greater China Media and Entertainment Corp. says it has entered into a contract with Kingjoy Vision Inc. to produce a TV series called "Cherry Love."

Greater China is an integrated professional media and entertainment company and Kingjoy is a movie and film producing company.

The two parties Wednesday announced plans to jointly produce the 27-episode, small-screen romantic drama, "Cherry Love," which is to start shooting next June.

The total investment is estimated to be $3.8 million, with each company paying half.

After the completion of the show, GCME said it will enjoy exclusive copyrights in mainland China, while Kingjoy will be entitled to the copyright in Hong Kong, Taiwan and Macao.

The lead role in "Cherry Love" will be played by Takeshi Kaneshiro, a Japanese-Taiwanese actor, however, the show's lead actress has yet to be cast.

"TV dramas centering on finding and keeping true love are still the mainstream on TV, especially in Asia," Jake Wei, chief executive offcier of GCME, said in a statement. "With the incredible cast and crew, I believe that this TV series will enjoy high ratings and bring our investors a great deal of success."
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Greater China Media & Entertainment Corporation Jointly Invests $3.8 million
in TV series 'Cherry Love'

BEIJING, July 16 /Xinhua-PRNewswire/ -- Greater China Media &
Entertainment Corporation (OTC Bulletin Board: GCME), an integrated
professional media and entertainment company (GCME or the Company), announced
that it has entered into a contract with Kingjoy Vision Inc. (Kingjoy), a well
known movie and film producing company, to jointly produce a TV drama,
tentatively titled "Cherry Love". "Cherry Love" is scheduled to start shooting
next June.
Per the agreement, the total investment is estimated at RMB 26 million
(approximately US $3.8 million). Each company will be responsible for 50%, or
approximately US $1.9 million. GCME secured an investment opportunity for
Cherry Love and paid RMB 384,000 (approximately US$56,470) for the script fee.
GCME also has the right to assign this agreement to a third party or partner
with the third party to raise US $1.9 million fund. After the completion of
this drama, GCME will enjoy exclusive copyrights in Mainland China. Kingjoy
will be entitled to the copyright in Hong Kong, Taiwan, and Macao.
"Cherry Love" is a 27-episode romantic drama. Several top directors,
screenwriters as well as acclaimed performers from both China and Korea are
slated to participate. The leading actor role will be played by Takeshi
Kaneshiro, a Japanese-Taiwanese actor, and one of the most sought-after
performers in Asia. The lead actress role is yet to be cast. Candidates
include: BingBing Fan, who was recognized as the best supporting actress at
the 44th Taiwan Golden Horse Awards, and Korean actress Song Hye Kyo, who was
recognized as the best new actress at the 6th Korea Film Award 2007.
"TV dramas centering on finding and keeping true love are still the
mainstream on TV, especially in Asia," commented Jake Wei, CEO of the Company.
"With the incredible cast and crew, I believe that this TV series will enjoy
high ratings and bring our investors a great deal of success."
About Greater China Media and Entertainment Corporation:
Greater China Media & Entertainment Corp. ("GCME" or the "Company") is an
integrated professional media and entertainment company covering various areas
including film and TV production, management, promotion and distribution. The
Company maintains its own film and television production center, promotion
agency, audio-visual distribution company, digital network company, talent
agency, as well as sales and advertising agencies acquired as a result of
recent joint ventures. With its broad range of media and entertainment
talents, the Company is capable of making films, TV programs and related
projects on a large scale.
Joint Ventures and Affiliated Entity:
In 2006, the Company formed a joint venture with Beijing Racemind HuaDing
International Marketing Consultants Limited (Racemind). Racemind specializes
in public relations, media strategy, consulting and event management services.
The Company signed an agreement with Beijing Star King Talent Agency to
form a joint venture to carry on business as a talent agency. This joint
venture is in process.
In March 2008, the Company obtained control of a local Chinese company
called Beijing HuaDing Century International Cultural Limited Corp. ("Beijing
HuaDing") to produce movies and TV series.
Milestones:
Movie and TV production and distribution:
-- Signed a trust agreement with Beijing Jin Ying Xiang Media Culture
Limited Corp. to produce 'Rose Thorn', a 24-episode TV series. The
series is now in production.
-- Closed a first round of private placement for US $1.6 million.
-- Signed a production and distribution deal with Mega Vision Productions
Limited for the new movie 'Tough Guy.'
-- Received US $100,000 for the TV series 'Poor Dad, Rich Dad'

Racemind HuaDing
-- Total contract value from January 2008 to April 2008 was RMB 7,424,540
(approx. US $1,061,000).
-- Total contract value for calendar year 2007 was RMB 12,333,669 (approx.
US $1,762,000).
-- Provided an array of public relations services to Siemens China.
-- Selected by Microsoft China as an approved public relations vendor.

For more information, please visit the Company website at
http://www.greaterchinamedia.com .
Forward-looking statements:
This report contains "forward-looking" statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements other than
statements of historical facts included in this report are forward-looking
statements. Forward-looking statements involve risks and uncertainties
including, but not limited to, economic and political factors; changes and
developments in the Chinese and North American markets as well as changes in
regulatory matters; our business strategies and future operation plans; market
acceptance and volume of sales of our products and services; our historical
losses; the competitive environment in the industries in which we compete; and
our ability to raise additional capital currently needed for expansion. The
Company cautions that forward-looking statements are subject to certain risks
and uncertainties that could cause actual results to differ materially from
those indicated in the forward-looking statements.
For more information, please contact:

Greater China Media & Entertainment Corp.
Jake Wei
Tel: +86-10-5921-2333

SOURCE Greater China Media and Entertainment Corporation

Jake Wei of Greater China Media and Entertainment Corporation,
+86-10-5921-2333