Exhibit 99.1
CONTACTS:
Stanley Wunderlich, CEO Don B. Lee, CEO
Consulting for Strategic Growth I Navstar Media Holdings, Inc.
Tel: 1-800-625-2236 Tel: 212-786-9378
Fax: 212-337-8089 Fax: 646-349-3864
info@cfsg1.com Leedonb@aol.com
NAVSTAR COMPLETES $1 MILLION FINANCING
NEW YORK, February 6, 2006 - Navstar Media Holdings, Inc. (NVMH.OB)
("Navstar"), a rapidly growing content provider for the burgeoning media market
in China, today announced that it has closed on a $1 million convertible debt
offering through vFinance Investments, Inc. The Company intends to use net
proceeds of the offering for working capital, with a portion also being used to
infuse additional capital to the Dong Fang Group, comprising Dong Fang Zheng Yi
Film & TV Communication Co., Ltd. and Beijing Dong Fang Zheng Yi Film Investment
Consulting Co., Ltd.
Navstar will continue to focus on enhancing its content production
capabilities as well as making selective acquisitions to solidify and expand its
strong market position.
Don B. Lee, CEO of Navstar Media Holdings, Inc., said, "We are very pleased
to close on this important financing. We are fulfilling our business strategy of
acquiring profitable, quality and creative media operations in China and
expanding our market reach with new and existing licensed properties. We will
explore new growth opportunities in such areas as new media and music as well in
new technology platforms for content production and delivery. China has become
one of the largest TV viewer markets in the world and its demand greatly
outpaces current content supply. Navstar Media intends to be a leader in
providing and delivering quality content to this market."
About Navstar Media Holdings, Inc.
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Navstar Media Holdings, Inc. (NVMH.OB), headquartered in New York and
Beijing, is a publicly traded U.S. company. The Company intends to grow through
internal expansion and strategic acquisitions in the largest emerging media
market in the world. In addition to content production, licensing and
distribution, Navstar is also engaged in advertising, televised cultural events,
corporate communications and exhibitions.
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Certain statements in this press release that are not historical facts are
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements may be identified by the use
words such as "anticipate," "believe," "expect," "future," "may," "will,"
"would," "should," "plan," "projected," "intend," and similar expressions. Such
forward-looking statements, involve known and unknown risks, uncertainties and
other factors that may cause the actual results, performance or achievements to
be materially different from those expressed or implied by such forward-looking
statements. All the unaudited numbers and data provided in this press release
are based on estimates according to the knowledge of the Company and may be
subject to changes that are beyond the control of the Company. The Company's
future operating results are dependent upon many factors, including but not
limited to the Company's ability to: (i) obtain sufficient capital or a
strategic business arrangement to fund its expansion plans; (ii) build the
management and human resources and infrastructure necessary to support the
growth of its business; (iii) competitive factors and developments beyond the
Company's control; and (iv) other risk factors discussed in the Company's
periodic filings with the Securities and Exchange Commission, which are
available for review at www.sec.gov under "Search for Company Filings."
Consulting For Strategic Growth I, Ltd. ("CFSG") provides Navstar Media
Holdings, Inc. ("Navstar") with consulting, business advisory, investor
relations, public relations and corporate development services. Independent of
CFSG's receipt of cash compensation from Navstar, CFSG may choose to purchase
the company's common stock and thereafter liquidate those securities at any time
it deems appropriate to do so.