China Crescent Enterprises, Inc. Recommended by Micros Report With Target Price of $0.55 as Company Kicks Off M&A Campaign With Conference Near Hong Kong

DALLAS, TX--(Marketwire - September 22, 2008) - China Crescent Enterprises, Inc. (OTCBB: CCSE) management recently participated in the "Summit on the Industrial Transformation of Zhu Jian Delta" conference near Hong Kong. The conference provided the Company an opportunity to reach hundreds of companies in China at once as part of the Company's ongoing initiative to expand both its service offerings and its operations throughout China and to evaluate potential M&A candidates. In conjunction with the conference, the Company was featured in the Southern Metropolis Daily, one of the top three daily newspapers in China.

Micros Report Assigns Fair Value Target Price of $0.55

On Friday, Micros Report issued an update to its initial research coverage assigning a fair value target price of $0.55 for China Crescent stock. Michael Willingham, Micros Report Director of Research, initiated research coverage and published his first report on China Crescent in December 2007.

Mr. Willingham stated in his recent update, "For 2008, the Company has forecast $50 million in sales which if achieved would result in a 25% growth rate during a year where the Dow Jones Industrial Average has seen a 25% decrease from its peak."

The report further states:

-- "The Company's core business will complete its fourth year of operations in December of 2008, and has grown revenue from zero, to $29 million in 2006, $40 million in 2007 and has forecast $50 million for 2008."

-- "The Company now has 7 quarters of independent reporting under its belt, and has been profitable in the last four consecutive quarters. In addition, they now have two quarters with year on year comparable data that demonstrates improved gross, operating, and net margins. This Company is growing, maturing and becoming more efficient."

-- "China has the fastest growing large economy in the world, and is growing approximately three times as fast as the U.S... 2Q U.S. GDP grew at an annual rate of 3.3% vs. 10.1% for China."

-- "The Company has established a broad base of domestic Chinese customers including government, military, private business and retail buyers."

Interested parties may contact ir@chinacrescent.com to receive a copy of the report.

Archive of Webcast on YTD Progress Available Online

China Crescent management conducted a Webcast Friday, September 19, discussing the Company's year-to-date progress to meet or exceed its profitable $50 million revenue forecast. Highlights from the Webcast include:

--  2008 Financial and Operational Performance YTD
--  $50 million profitable 2008 revenue goal
--  Improved gross margins
--  Reduced liabilities
--  Concentration on higher margin business sectors
--  $19.2M revenue & $362K net income YTD
--  Actively seeking M&A candidates in China
--  Share price performance, including potential uplift due to SEC short
    selling ban
    

A link to the Webcast is available on the Company's corporate Website at www.chinacrescent.com titled "China Crescent Year-to-Date Corporate Update."

Corporate E-mail Updates

To be added to China Crescent's e-mail database to receive company updates or to obtain more information on the Company, please send an e-mail to ir@chinacrescent.com or call 214-722-3065.

About China Crescent Enterprises, Inc. (www.chinacrescent.com)

China Crescent Enterprises, Inc. is a technology leader in the rapidly developing Chinese market specializing today in software engineering, high quality software development and digital multimedia outsourcing services delivered to customers globally. At the same time, the firm is a systems integrator and value added reseller of major global hardware brands in the Chinese domestic market.

Headquartered in Dallas with operations in Shanghai and Beijing, China Crescent bridges the gap between Western and Eastern business cultures to assist western clients in realizing the advantages of the high quality, low cost technology products and services available from China. China Crescent also assists Western clients in localizing products and services to realize the tremendous growth potential available by expanding into the Chinese Market.

"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause China Crescent's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.

Contact Information: Contact: China Crescent Enterprises, Inc. Investor Relations 214-722-3065 ir@chinacrescent.com http://www.chinacrescent.com