Company to Operate Outdoor Advertising at Sinopec Service Stations Nationwide

Extends AirMedia's Reach to China's 122 Million Automobile Drivers

BEIJING, April 30 /PRNewswire-Asia-FirstCall/ -- AirMedia Group Inc. (Nasdaq: AMCN), a leading operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers, and China Petroleum & Chemical Corporation ('Sinopec Corp.') (HKEX: 386; NYSE: SNP; LSE: SNP; CH: 600028) today announced they have entered into an exclusive concession rights contract under which AirMedia will develop and operate outdoor advertising platforms at all of Sinopec's service stations located throughout China for over five and half years, except for service stations in limited cities which still have original contracts with other operators in effect. The contract is effective immediately and will expire on December 31, 2014. AirMedia will incur concession fees to Sinopec beginning in the third quarter of 2009.

The move extends AirMedia's leadership in China's air travel advertising sector to the advertising market, the target demographic of which is the country's rapidly growing population of automobile drivers and owners who, along with air travelers, are among the most affluent members of China's emerging consumer class. As of the end of 2008, there were 122 million drivers and 64.7 million cars for civil use in China, of which 41.7 million were privately owned.

'As a leading operator of out-of-home advertising platforms targeting mid- to-high-end consumers in China, we are extremely excited to partner with Sinopec to extend our media reach to China's rapidly growing population of automobile drivers and owners,' said Herman Guo, chairman and chief executive officer of AirMedia.

'Similar to the air travel industry in China, Sinopec's service stations are frequently visited by consumers with higher-than-average disposable income. Expanding our advertising network to Sinopec's service stations is a natural extension of AirMedia's operation and will create synergies with our current media platforms and customer base,' Mr. Guo continued. 'China's consumer base will continue to evolve in exciting ways and AirMedia's extensive experience in targeting mid-to-high-end consumers in the air travel sector well prepares us to achieve further success in other advertising sectors.