Starwin Media Group Terminated Reverse Merger Discussion with Intermost Corporation

Starwin Media Group Terminated Reverse Merger Discussion with Intermost Corporation

LOS ANGELES, May 6 /PRNewswire/ -- Starwin Media Group today announced that the reverse merger with Intermost Corporation (BULLETIN BOARD: IMOT) was terminated by Starwin Media Group, instead of by Intermost Corporation. The termination of the merger discussion is concluded based on due diligence and decisions made by Starwin Media Group management and board of directors.

The recent press release issued by IMOT on May 5, 2005 has a direct contradiction to their news release published on March 2, 2005. IMOT board of directors has approved the merger as of March 2, 2005 and since then Starwin has taken the initiative to carry out the due diligence.

Ms. Wendyfer Zhong, President of Starwin Media Group said, "Our termination to merge with IMOT is solely based on the outcome of our due diligence, and our board of directors and management do not believe such results from the due diligence represents any viable merger that the company should execute. IMOT is a fully diversified corporation and does not have an identity of itself. Starwin is in the media business, and we want to continue to focus on media or media-related business, making this merger a non-viable merger for us."

In addition, the merger agreement Starwin entered with IMOT on February 9, 2005 includes a condition that Starwin will submit an S1 registration to the SEC at a minimum offering price of US$10 per share which was also a disclosure made by IMOT 8K filing on February 10,2005. This factor that impacted the dilution of our offering is also one of our considerations to terminate the merger," said Ms. Zhong.

In the coming future, Starwin will continue to spin-off all of its non-media related business to become a corporation that is fully dedicated to provide media and media-related products and services. "Starwin's objective is to become one of the leading media corporations in the United States and China," added Ms. Zhong.

ABOUT STARWIN MEDIA GROUP

Starwin Media Group Holding, a California corporation in the United States. It is the first US media group aim to cover both US and China with programs including: financial, entertainment, variety show, talk show, food, travel and education. Starwin's television broadcasting network is actively pursuing setting up a worldwide media network via satellite to bring different cultures in the world together on a congenial basis. The operation has been set up, and is ready to launch extensively.

Contact: Starwin Media Group Tel: (213) 572-0388 pr@starwinmedia.com

Source: Starwin Media Group

CONTACT: Starwin Media Group, +1-213-572-0388, pr@starwinmedia.com

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