Press Releases

BEIJING, Nov. 7 /Xinhua-PRNewswire/ -¨C AirMedia Group Inc. ("AirMedia") , the operator of the largest digital media network in China dedicated to air travel advertising, announced today that its initial public offering of 15,000,000 American Depositary Shares ("ADSs") was priced at $15 per ADS. The ADSs, each representing two ordinary shares of AirMedia, will begin trading on the NASDAQ Global Market on November 7, 2007 under the trading symbol "AMCN".

The offering consists of 11,750,000 ADSs offered by AirMedia and 3,250,000 ADSs offered by a selling shareholder. AirMedia and another selling shareholder have granted the underwriters an option to purchase up to 2,000,000 and 250,000 additional ADSs respectively to cover over-allotments.

Morgan Stanley and Lehman Brothers Inc. acted as the joint book runners for this offering and CIBC World Markets Corp. and Susquehanna Financial Group, LLLP acted as co-managers for the offering.

AirMedia's registration statement relating to these securities was filed and declared effective by the U.S. Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering of the securities is made only by means of a prospectus. A copy of the prospectus relating to the offering may be obtained by contacting Morgan Stanley & Co. Incorporated, 180 Varick Street, New York, New York 10014; Attention: Prospectus Department, or by email at prospectus@morganstanley.com; or from Lehman Brothers Inc., c/o Broadridge Prospectus Fulfillment, 1155 Long Island Avenue, Edgewood, NY 11717, by email at Qiana.Smith@Broadridge.com or by fax at 1-631-254-7140.

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 52 airports, including 28 out of the 30 largest airports in China, and has contractual concession rights to place its programs on the routes operated by 9 airlines, including the three largest airlines in China. AirMedia also offers advertisers other media platforms in airports, such as digital frames, light box displays, 360-degree LED displays and 3D displays. For more information about AirMedia, please visit http://www.airmedia.net.cn/ .

  For more information, please contact:

  Investor Contact:
   Raymond Huang
   Investor Relations Director
   Email: ir@airmedia.net.cn

  FD Beijing
   Julian Wilson
   Tel:   +86-10-8591-1951
   Email: julian.wilson@fd.com

  FD New York
   Peter Schmidt
   Tel:   +1-212-850-5654
   Email: peter.schmidt@fd.com

SOURCE: AirMedia Group Inc.