China MediaExpress Holdings, Inc., China’s largest television advertising operator on inter-city and airport express buses, has announced that based on the latest developments, including the expanded geographic coverage, increased number of inter-city buses, and higher margins from the airport express buses platform, it is revising its 2010 net income guidance.

The revised guidance calls for 2010 net income to be in the range of $82 million to $85 million compared to the initial 2010 net income guidance of $71 million to $75 million.

Jacky Lam, CME’s Chief Financial Officer stated, “Our revised 2010 net income guidance reflects the continued growth of our business from existing revenue sources, and excludes the impact of any possible acquisitions, additional new buses, new revenue streams and any new investments in other media projects in 2010. We expect to continue to benefit from China’s rapid increase in advertising spending – which is projected to remain one of the fastest growing advertising markets in the world – sustained economic growth, and increases in disposable income and domestic consumption. We plan to continue to grow our business organically and we are also actively looking for acquisition opportunities within our core business platform. Furthermore, we are working hard to finalize several new projects which we believe will further enhance CME’s shareholder value. We have sufficient resources to fund our business expansion plans, including internal growth initiatives as well as potential acquisitions.”