China Cablecom Announces Appointment of Emmanuel J. Olympitis to Its Board of Directors and Audit Committee

China Cablecom Announces Appointment of Emmanuel J. Olympitis to Its Board of Directors and Audit Committee

SHANGHAI, Oct. 21 /PRNewswire-FirstCall/ -- China Cablecom Holdings, Ltd. ("China Cablecom" or the "Company") (NASDAQ:CABL) (NASDAQ:CABLW) (NASDAQ: CABLU) , a joint-venture provider of cable television services in the People's Republic of China (PRC), today announced the appointment of Emmanuel J. Olympitis to its Board of Directors and Audit Committee. Mr. Olympitis currently serves as Executive Chairman of Petrocapital Resources Plc., a UK-listed company with investments in the oil sector. He is also a non-executive Director of Canoel International Energy Ltd., a Toronto-listed exploration oil and gas company.

"I am excited to welcome Manoli to our Company," says Clive Ng, Founder & Executive Chairman of China Cablecom. "I have known him for almost two decades and we have enjoyed tremendous success together as he was my former Chairman at Pacific Media. He brings with him an extensive background as Executive Chairman and Chief Executive of mainly listed companies. With over twenty years of experience, he has delivered a consistent track record of generating profitability through a broad range of banking and financial service groups. We are enthusiastic about our future outlook under his guidance."

From 1999 to 2004, Mr. Olympitis was formerly Executive Chairman of Pacific Media Plc., a London Stock Exchange listed retail, media, and e-commerce company focused on Asia. Previously, he held numerous executive positions including Group Chief Executive of Aitken Hume International Plc., a London Stock Exchange listed banking, insurance and fund management group. Subsequently, Mr. Olympitis was Executive Chairman and Managing Director of Johnson & Higgins Ltd., during which time the company won the Queens Award for Exports in 1994. Mr. Olympitis' background includes investment banking where he was appointed head of all Eurodollar syndicated loan activities for Bankers Trust International Limited in London. There he served as Executive Director where he managed international initiatives of several billion dollars into South America, Greece and Eastern Europe.

More recently, he has held positions as a non-executive Director and member of Audit Committees on several UK-listed companies including Matica Plc., Secure Fortress Plc., Bulgarian Land Development Plc., Norman 95 Plc., and served as Chairman for Bella Media Plc.

Mr. Olympitis will be replacing Pierre Suhandinata who previously resigned as a director of the Company.

"On behalf of the Board we would like to thank Pierre for his support and contributions which have served to be invaluable to the Company. We appreciate his dedication and strategic oversight as Board member and wish him success in his path ahead," says Clive Ng, Founder & Executive Chairman.

About China Cablecom

China Cablecom is a joint-venture provider of cable television services in the People's Republic of China, operating in partnership with a local state-owned enterprise ("SOE") authorized by the PRC government to control the distribution of cable TV services through the deployment of analog and digital cable services. China Cablecom has consummated the acquisition of a 55 percent economic interest in a cable network in Hubei province with paying subscribers exceeding 1,100,000. The Company originally acquired operating rights of the Binzhou Broadcasting network in Binzhou, Shandong Province in September 2007 by entering into a series of asset purchase and services agreements with a company organized by SOEs, owned directly or indirectly by local branches of State Administration of Radio, Film and Television in five different municipalities to serve as a holding company of the relevant businesses. China Cablecom now operates 28 cable networks with over 1.67 million paying subscribers. China Cablecom's strategy is to replicate the acquisitions by operating partnership models in other municipalities and provinces in the PRC and then introducing operating efficiencies and increasing service offerings in the networks in which it operates.

Safe Harbor Statement

The matters discussed in this press release contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this presentation and in the Company's other written and oral reports are based on current Company expectations and are subject to numerous risks, uncertainties and assumptions, Any forward-looking statements are not guarantees of future performance and actual results of operations, financial condition and liquidity. The forward-looking statements herein speak only as of the date stated herein and might not occur or the actual results may differ materially in light of these risks, uncertainties, and assumptions. The Company 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. You should carefully consider these factors, as well as the additional risk factors outlined in the filings that the Company makes with the U.S. Securities and Exchange Commission, including the Annual Report on Form 20-F filed on July 15, 2009.

   CONTACT:   China Cablecom Holdings, Ltd.   Debra Chen   Phone: 917.499.8129   Email: debra@chinacablecom.net  

First Call Analyst:
FCMN Contact: debra@chinacableone.net

Source: China Cablecom Holdings, Ltd.

CONTACT: Debra Chen of China Cablecom Holdings, Ltd., +1-917-499-8129,
debra@chinacablecom.net

Web Site: http://www.chinacablecom.net/

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Profile: International Entertainment