China Networks to be Delisted From NYSE/Amex, Continues to Trade on Bulletin Board

China Networks to be Delisted From NYSE/Amex, Continues to Trade on Bulletin Board

NEW YORK, Sept. 1 /PRNewswire-FirstCall/ -- China Networks International Holdings Ltd. (BULLETIN BOARD: CNWHF) ("CNIH") today reported that on Friday, August 28, 2009, it received notice from the NYSE/Amex that the Exchange's Appeals Panel has affirmed the Staff's determination to delist the Company's securities. The Panel agreed with the Staff that the Company does not currently meet the Exchange's initial listing requirements following the business combination between Alyst Acquisition Corp. and China Networks Media, Ltd. in June 2009, resulting in the recommendation to complete the delisting without prejudice to the Company going through the initial listing once it has satisfactorily addressed all eligibility requirements. The Company continues to review its options, including a formal Committee on Securities review of the decision, and is proceeding with its efforts to meet the eligibility requirements for listing on a national stock exchange, with respect to which there can be no assurance as to whether or when such a listing will occur. In the interim, its securities will continue to trade on the OTCBB.

About CNIH

CNIH is a provider of broadcast television advertising in the PRC through joint venture arrangements with state-owned television stations. The Company's principal executive offices are in Beijing, PRC. CNIH is the result of a merger between Alyst Acquisition Corp., a SPAC, and China Networks Media, Ltd., which was consummated on or about June 30, 2009. CNIH is incorporated in the British Virgin Islands.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about CNIH. Forward-looking statements are statements that are not historical facts and may be identified by the use of forward-looking terminology, including the words "believes," "expects," "intends," "may," "will," "should" or comparable terminology. Such forward-looking statements are based upon the current beliefs and expectations of CNIH's management and are subject to risks and uncertainties which could cause actual results to differ from the forward- looking statements.

Forward-looking statements are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry may differ materially from those made in or suggested by the forward-looking statements contained in this press release. These forward-looking statements are subject to numerous risks, uncertainties and assumptions. The forward-looking statements in this press release speak only as of the date of this press release and might not occur in light of these risks, uncertainties, and assumptions. CNIH undertakes no obligation and disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

First Call Analyst:
FCMN Contact: gkaufman@chardancm.com

Source: China Networks International Holdings Ltd.

CONTACT: George Kaufman of China Networks International Holdings Ltd.,
+1-646-465-9015, gkaufman@chardancm.com

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Profile: International Entertainment