Exhibit 99.1

CHINA XIN  NETWORK  MEDIA  CORP.  SIGNS  BINDING  LETTER  OF  INTENT TO  ACQUIRE
PROFITABLE WALL STREET FIRM BENCHMARK CAPITAL CONSULTING, INC.

Monday November 4, 12:35 pm ET

MONTREAL--(BUSINESS  WIRE)--Nov.  4, 2002--China Xin Network Media Corp. (OTCBB:
CXIN - News)  announces  signing of a binding  letter of intent to acquire  Wall
Street  based  strategic  consulting  and  merger &  acquisition  advisory  firm
Benchmark Capital Consulting, Inc. (`Benchmark').

Benchmark  Capital  Consulting,  Inc. is a wholly owned  subsidiary of Benchmark
Global Capital Group  (www.bgcus.com),  a Wall Street  headquartered  investment
banking,  securities trading,  strategic consulting and international  marketing
consulting firm with extensive  operations in North America and the Asia Pacific
region.  CXIN  is  a  Florida  registered  information  services  provider  that
specializes  in delivering  Asian  financial,  economic and business news to the
North American markets.

Subject to due diligence by Benchmark,  a definitive agreement is expected to be
signed within 60 days. This acquisition requires shareholder  approval.  CXIN is
in the process of preparing proxy statements to be sent out to its shareholders.
This  acquisition  will result in Benchmark Global Capital Group owning majority
shares in CXIN.

George Lee, CXIN's Chairman and CEO commented: "This acquisition is an important
milestone in the history of our company.  This  transaction is a great strategic
fit between  Benchmark and CXIN. With Benchmark's  global business  presence and
its  extensive  business  relationships  in Asia,  particularly  in  China,  our
shareholders will greatly benefit from Benchmark's successful business."

Jerry  Gruenbaum,   Benchmark's   Senior  Vice  President  and  General  Counsel
commented:  "Benchmark's staff has extensive experience in strategic consulting,
international  marketing  consulting,  and merger & acquisition advisory related
services.  Upon  closing  of this  transaction,  Benchmark  will bring to CXIN a
highly skilled management team and a highly qualified Board of Directors. CXIN's
current  information  services business and its impressive client list including
clients such as Factiva,  Thomson Dow Jones and several  others will  compliment
our  consulting  business very well.  This  transaction  will allow us to better
serve our clients with more value added  products and services.  We look forward
to working closely with CXIN's  management team towards a successful  closing as
quickly as possible."

Safe Harbor  Statement  under the Private  Securities  Litigation  Reform Act of
1995: The statements,  contained in this release which are not historical  facts
may be deemed to contain forward-looking  statements with respect to events, the
occurrence  of  which  involves  risk  and  uncertainties   including,   without
limitation,  demand and competition for the Company's products and services, the
availability  to the company of adequate  financing  to support its  anticipated
activities, the ability of the Company to generate cash flow from its operations
and the ability of the Company to manage its operations.

Contact:
     China Xin Network Media Corp.
     Rahman A. Khan, 514/398-0515, ext. 23