Malaysian Launch for Celestial’s Youth Culture Channel

HONG KONG, August 29: Celestial Pictures has launched WaTV,
a channel exploring youth lifestyles in modern china, on the pay-TV platform Astro
All Asia Networks in Malaysia and Brunei.

The channel, according to Celestial, is devoted to the
“trendy youth lifestyle of the new China.” Airing 24-hours a day, seven days a
week, WaTV targets viewers aged 18 to 35. The Mandarin-language network offers
up art, travel, music and fashion-related content, as well as talk shows, game
shows and entertainment news.

“The launch of WaTV in Malaysia and Brunei is important as
Malaysia is the biggest market for the consumption of Chinese programming
outside Greater China,” said William Pfeiffer, the CEO of Celestial Pictures.
“People all over the world are sharing an increasing fascination with the latest
cultural and economic developments in China. WaTV is well-positioned to satisfy
this interest and capture this opportunity.”

Annie Ng, Celestial Pictures' GM of television in China,
added, "WaTV's unique positioning is providing a window for the young
audiences in Asia to satisfy their desire to learn about the latest lifestyle
trends from today's China. Through originating and aggregating quality and
popular China content, WaTV brings to the viewers a glimpse of modern
China."

WaTV made its debut on PT Direct Vision’s pay-TV service in
Indonesia in February, and plans to roll out in other parts of Asia in
2007.