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<SEC-DOCUMENT>0001299933-10-000050.txt : 20100106
<SEC-HEADER>0001299933-10-000050.hdr.sgml : 20100106
<ACCEPTANCE-DATETIME>20100106171202
ACCESSION NUMBER:		0001299933-10-000050
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20100104
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20100106
DATE AS OF CHANGE:		20100106

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Searchmedia Holdings Ltd
		CENTRAL INDEX KEY:			0001460329
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ADVERTISING [7310]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			AZ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-158336
		FILM NUMBER:		10512377

	BUSINESS ADDRESS:	
		STREET 1:		1990 S. BUNDY BLVD.
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90025
		BUSINESS PHONE:		310-694-8150

	MAIL ADDRESS:	
		STREET 1:		1990 S. BUNDY BLVD.
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90025

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ID ARIZONA CORP.
		DATE OF NAME CHANGE:	20090330
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>htm_35738.htm
<DESCRIPTION>LIVE FILING
<TEXT>
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<TITLE> SearchMedia Holdings Limited (Form: 8-K) </TITLE>
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<A NAME="DOCUMENT_TOP">&nbsp;</A>
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		UNITED STATES<BR>
	SECURITIES AND EXCHANGE COMMISSION
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<BR>
<FONT SIZE="2">
	WASHINGTON, D.C. 20549
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<P ALIGN="CENTER">
<FONT SIZE="5">
	FORM 8-K
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<FONT SIZE="2">

</FONT>
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<P ALIGN="CENTER">
<FONT SIZE="3">
	CURRENT REPORT
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<P ALIGN="CENTER">
<FONT SIZE="2">
	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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	&nbsp;
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	&nbsp;
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	&nbsp;
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	Date of Report (Date of Earliest Event Reported):
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	&nbsp;
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	January 4, 2010
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<BR>
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<FONT SIZE="6">
	SearchMedia Holdings Limited
</FONT>
<FONT SIZE="2">
<BR>__________________________________________<BR>
	(Exact name of registrant as specified in its charter)
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	&nbsp;
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	&nbsp;
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	&nbsp;
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	Cayman Islands
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<FONT SIZE="2">
	0001-33800
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<FONT SIZE="2">
	77-0688094
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<FONT SIZE="2">
_____________________<BR>
	(State or other jurisdiction
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<FONT SIZE="2">
_____________<BR>
	(Commission
</FONT>
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______________<BR>
	(I.R.S. Employer
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	of incorporation)
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	File Number)
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<FONT SIZE="2">
	Identification No.)
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	&nbsp;&nbsp;
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	&nbsp;
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	&nbsp;
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	4B, Ying Long Building, 1358 Yan An Road West, Shanghai, China,
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	&nbsp;
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	200052
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_________________________________<BR>
	(Address of principal executive offices)
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	&nbsp;
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___________<BR>
	(Zip Code)
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	Registrant&#146;s telephone number, including area code:
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	&nbsp;
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	(86-21) 5169 0552
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</TR>
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</CENTER>
<P ALIGN="CENTER">
<FONT SIZE="2">
	Not Applicable
<BR>______________________________________________<BR>
	Former name or former address, if changed since last report
</FONT>
<P ALIGN="CENTER">
<FONT SIZE="2">
	&nbsp;
</FONT>
<!-- CoverPageRegistrant END --><P><FONT SIZE="2">
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:</FONT>
</P>
<P><FONT SIZE="2">
[&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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<A HREF="#DOCUMENT_TOP">
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<B>
<FONT SIZE="2">Top of the Form</FONT>
</B>
</U>
</A>
</DIV>
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<P ALIGN="LEFT">
<FONT SIZE="2">
<B>
	Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
</B>
</FONT>
</P>
<P ALIGN="LEFT">
<FONT SIZE="2">
	Effective January 4, 2010, the Board of Directors of SearchMedia Holdings Limited, a Cayman Islands company (the "Company") appointed Wilfred Chow, age 43, as its Chief Financial Officer.<br><br>	From April 2006 through December 2009, Mr. Chow was Senior Vice President of American Oriental Bioengineering, a pharmaceutical company, and from January 2005 through March 2006, Mr. Chow was a financial consultant with PriceWaterhouseCoopers.<br><br>	Effective January 4, 2010, the Company and Mr. Chow entered into the Executive Employment Agreement (the "Agreement").  Pursuant to the Agreement, Mr. Chow will receive an annual salary of US $200,000, subject to annual review by the Board.  On January 4, 2010, Mr. Chow was granted options to purchase 225,000 shares of common stock (the "Initial Grant"), which vest one-third annually on the anniversary of the date of grant, with an exercise price at  the closing price on the date of grant.  The term of the Agreement is for three years and the Agreement will be automat
ically extended for successive one-year terms unless either party gives written notice to the other party to terminate the Agreement no less than 60 days, and no more than 120 days prior, to the expiration of the then-current term.  <br><br>In the event the Company terminates Mr. Chow without cause or Mr. Chow terminates his employment for good reason (as described in the Agreement), (i) Mr. Chow would receive severance equal to three months salary if such termination occurred in his first year of employment and severance equal to six months&#x2019; salary if such termination occurred after his first year of employment, and (ii) those options in the Initial Grant that would have vested during the applicable severance period shall vest and be exercisable.  <br><br>	The Agreement also contains other customary provisions, including provisions relating to non-solicitation, non-compete, confidentiality and compliance with Sections 409A and 457A of the Internal Revenue Code.  In addition, pursuant to the terms of 
the Agreement, upon the occurrence of a Change in Control (as defined in the Agreement), all unvested options from the Initial Grant will become vested and fully exercisable.<br><br>	The foregoing description of the Agreement is not intended to be a comprehensive summary.  A copy of the Agreement is filed as Exhibit 10.1 to this Current Report on Form 8-K and its contents are incorporated herein by this reference.<br><br>	Ms. Jennifer Huang, who has been serving in the additional role as Acting Chief Financial Officer, will continue to serve as the Company&#x2019;s Chief Operating Officer.<br><br>	In connection with the hiring of Mr. Chow, the Company issued a press release attached hereto as Exhibit 99.1.<br>
</FONT>
</P>
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<P ALIGN="LEFT">
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<B>
	Item 9.01 Financial Statements and Exhibits.
</B>
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</P>
<P ALIGN="LEFT">
<FONT SIZE="2">
Exhibit 10.1 &#x2013; Executive Employment Agreement effective January 4, 2010.<br>Exhibit 99.1 - Press Release dated January 6, 2010.<br>
</FONT>
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<B>
	SIGNATURES
</B>
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</P>
<P ALIGN="LEFT">
<FONT SIZE="2">
	Pursuant to the requirements of the Securities Exchange Act of 1934, the
	registrant has duly caused this report to be signed on its behalf by the
	undersigned hereunto duly authorized.
</FONT>
</P>
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<TABLE CELLSPACING="0" BORDER="0" CELLPADDING="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
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	&nbsp;
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	&nbsp;
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<TD WIDTH="3%">
	&nbsp;
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<TD WIDTH="1%">
	&nbsp;
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	&nbsp;
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	&nbsp;
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<FONT SIZE="2">
	&nbsp;
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<FONT SIZE="2">
	SearchMedia Holdings Limited
</FONT>
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<TD VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;&nbsp;
</FONT>
</TD>
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	&nbsp;
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<FONT SIZE="2">
	&nbsp;
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<FONT SIZE="2">
	&nbsp;
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<FONT SIZE="2">
	&nbsp;
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<I>
	January 6, 2010
</I>
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	&nbsp;
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<I>
	By:
</I>
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	&nbsp;
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<I>
	/s/ Wilfred Chow
</I>
<BR>
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<FONT SIZE="2">
	&nbsp;
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</TD>
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	&nbsp;
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<FONT SIZE="2">
	&nbsp;
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	&nbsp;
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	&nbsp;
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	&nbsp;
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	&nbsp;
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	&nbsp;
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<I>
	Name: Wilfred Chow
</I>
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	&nbsp;
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<I>
	Title: Chief Financial Officer
</I>
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<FONT SIZE="2">Top of the Form</FONT>
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<FONT SIZE="2">
	Exhibit&nbsp;Index
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<B>
	Exhibit No.
</B>
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	&nbsp;
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	Description
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<DIV ALIGN="LEFT">
	10.1
</DIV>
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<FONT SIZE="2">
	&nbsp;
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<TD ALIGN="LEFT" VALIGN="TOP" WIDTH="77%">
<FONT SIZE="2">
Executive Employment Agreement effective January 4, 2010
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<DIV ALIGN="LEFT">
	99.1
</DIV>
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<FONT SIZE="2">
	&nbsp;
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</TD>
<TD ALIGN="LEFT" VALIGN="TOP" WIDTH="77%">
<FONT SIZE="2">
Press Release dated January 6, 2010
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit1.htm
<DESCRIPTION>EX-10.1
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<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 3.2//EN">
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<TITLE> EX-10.1 </TITLE>
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<BODY TEXT="#000000" BGCOLOR="#FFFFFF" ALINK="#0000FF" HLINK="#FF0000" VLINK="#800080">

<BODY style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="font-size: 10pt"><FONT style="font-size: 12pt"><B>Exhibit&nbsp;10.1</B>
</FONT>

<P align="center" style="font-size: 12pt"><B>EXECUTIVE EMPLOYMENT AGREEMENT</B>



<P align="left" style="font-size: 12pt; text-indent: 4%"><FONT style="font-size: 11pt">This EXECUTIVE EMPLOYMENT AGREEMENT (the &#147;<U>Agreement&#148;</U>) is entered into as of
December&nbsp;30, 2009 by and between SearchMedia Holdings Limited, a company incorporated and existing
under the laws of the Cayman Islands (the &#147;<U>Company</U>&#148;), and Mr.&nbsp;Wilfred Chow, an individual
(the &#147;<U>Executive</U>&#148;) and effective on the Effective Date (as hereinafter defined). The term
&#147;Company&#148; as used herein with respect to all obligations of the Executive hereunder shall be deemed
to include the Company and all of its direct or indirect parent companies, subsidiaries,
affiliates, or subsidiaries or affiliates of its parent companies (collectively, the &#147;<U>SM
Group</U>&#148;).
</FONT>

<P align="center" style="font-size: 11pt"><B>RECITALS</B>



<P align="left" style="font-size: 11pt">A.&nbsp;The Company desires to employ the Executive and to assure itself of the services of the
Executive during the term of Employment (as defined below).


<P align="left" style="font-size: 11pt">B.&nbsp;The Executive desires to be employed by the Company during the term of Employment and under the
terms and conditions of this Agreement.


<P align="center" style="font-size: 11pt"><B>AGREEMENT</B>



<P align="left" style="font-size: 11pt; text-indent: 4%">The parties hereto agree as follows:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">1.</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><B>POSITION</B></FONT></TD>
</TR>

</TABLE>



<P align="left" style="margin-left:4%; font-size: 11pt">The Executive hereby accepts a position of Chief Financial Officer (the
&#147;<U>Employment</U>&#148;) of the Company.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">2.</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><B>TERM</B></FONT></TD>
</TR>

</TABLE>



<P align="left" style="margin-left:4%; font-size: 11pt">Subject to the terms and conditions of this Agreement, the initial term of the Employment
shall be three years, commencing on January&nbsp;4, 2010 (the &#147;<U>Effective Date</U>&#148;), until
January&nbsp;4, 2013, unless terminated earlier pursuant to the terms of this Agreement. Upon
expiration of the initial three-year term, the Employment shall be automatically extended
for successive one-year terms unless either party gives the other party hereto written
notice to terminate the Employment no less than 60&nbsp;days, and no more than 120&nbsp;days, prior to
the expiration of such one-year term or unless terminated earlier pursuant to the terms of
this Agreement.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">3.</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><B>DUTIES AND RESPONSIBILITIES</B></FONT></TD>
</TR>

</TABLE>



<P align="left" style="margin-left:4%; font-size: 11pt">The Executive&#146;s duties at the Company will include all jobs assigned by the Board of
Directors of the Company (the &#147;<U>Board</U>&#148;) or the Chief Executive Officer (&#147;CEO&#148;). The
Executive will report directly to the CEO.



<P align="left" style="margin-left:4%; font-size: 11pt">The Executive shall devote all of his working time, attention and skills to the performance
of his duties at the Company and shall faithfully and diligently serve the Company in
accordance with this Agreement and the guidelines, policies and procedures of the Company
approved from time to time by the Company.



<P align="left" style="margin-left:4%; font-size: 11pt">The Executive shall use his best efforts to perform his duties hereunder. The Executive
shall not, without the prior written consent of the Board, become an employee or consultant
of any entity other than the Company and/or any member of the SM Group, and shall not carry
on or be interested in the business or entity that competes with that carried on by the SM
Group (any such business or entity, a &#147;<U>Competitor</U>&#148;), provided that nothing in this
clause shall preclude the Executive from holding any shares or other securities of any
Competitor that is listed on any securities exchange or recognized securities market
anywhere. The Executive shall notify the Company in writing of his interest in such shares
or securities in a timely manner and with such details and particulars as the Company may
reasonably require.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">4.</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><B>NO BREACH OF CONTRACT</B></FONT></TD>
</TR>

</TABLE>



<P align="left" style="margin-left:4%; font-size: 11pt">The Executive hereby represents to the Company that: (i)&nbsp;the execution and delivery of this
Agreement by the Executive and the performance by the Executive of the Executive&#146;s duties
hereunder shall not constitute a breach of, or otherwise contravene, the terms of any other
agreement or policy to which the Executive is a party or otherwise bound, except for
agreements that are required to be entered into by and between the Executive and any member
of the SM Group pursuant to applicable law of the jurisdiction where the Executive is based,
if any; (ii)&nbsp;that the Executive has no information (including, without limitation,
confidential information and trade secrets) relating to any other person or entity which
would prevent, or be violated by, the Executive entering into this Agreement or carrying out
his duties hereunder; (iii)&nbsp;that the Executive is not bound by any confidentiality, trade
secret or similar agreement (other than this) with any other person or entity except for
other member(s) of the SM Group, as the case may be.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">5.</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><B>LOCATION</B></FONT></TD>
</TR>

</TABLE>



<P align="left" style="margin-left:4%; font-size: 11pt">The Executive will be based in, and shall work from, Shanghai, China on a full time basis.
Subject to pre-approval by the Company, Executive shall be reimbursed for his reasonable
relocation expenses to the Shanghai, China area. If, within one year from the date of
Executive&#146;s relocation, Executive voluntarily terminates his employment with the Company for
any reason other than by the Executive for Good Reason pursuant to Section 7(c) herein,
Executive will be required to refund all relocation expenses to the Company within 30&nbsp;days
of his termination date.</FONT><FONT style="font-size: 12pt">
</FONT>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 11pt"><B>COMPENSATION AND BENEFITS</B></FONT></TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">(a)</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><U>Cash Compensation</U>. The Executive&#146;s cash compensation shall be
provided by the Company pursuant to <U>Schedule&nbsp;A-1</U> hereto, subject to annual
review and adjustment by the Board. The Company and the Executive hereby agree that
any of the Company&#146;s subsidiaries&#146; or affiliated entities&#146; payment of the cash
compensation payable for the applicable time period under its labor contract with the
Executive shall constitute payment of part of the above cash compensation. The
Executive&#146;s entitlement to the aggregate cash compensation payable by the Company and
any of the Company&#146;s subsidiaries or affiliated entities shall not exceed the amount
set out in <U>Schedule&nbsp;A-1</U> hereto.</FONT></TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">(b)</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><U>Equity Incentives. </U>The Executive will be eligible to participate in
any of the Company&#146;s equity incentive plans as determined by the Board, consistent with
the terms provided to the Company&#146;s other senior officers. Subject to approval by the
Company&#146;s Board of Directors and the execution of a stock option agreement which will
govern the terms and conditions contained in a stock option agreement to be entered
into by you and the Company prior to the grant, you will receive the equity award
listed on <U>Schedule&nbsp;A-2</U> (the &#147;Initial Grant&#148;). Following a Company Change of
Control Transaction (as hereinafter defined), all unvested options under the Initial
Grant shall vest upon the closing of the Change of Control Transaction.</FONT></TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">(c)</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><U>Benefits</U>. The Executive is eligible for participation in any standard
employee benefit plan of the Company, including any health insurance plan and annual
holiday plan.</FONT></TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">(d)</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><U>Certain Definitions</U>. For purposes of this Agreement, a Change of
Control Transaction shall mean (a)&nbsp;any sale, lease, exchange or other transfer (in one
transaction or a series of transactions) of all or substantially all of the assets of
the Company other than to a Company Affiliate; (b)&nbsp;any consolidation or merger or other
business combination of the Company with any other entity, other than a Company
Affiliate, where the shareholders of the Company, immediately prior to the
consolidation or merger or other business combination would not, immediately after the
consolidation or merger or other business combination, beneficially own, directly or
indirectly, shares representing fifty percent (50%) of the combined voting power of all
of the outstanding securities of the entity issuing cash or securities in the
consolidation or merger or other business combination (or its ultimate parent
corporation, if any); or (c)&nbsp;the Board of the Company adopts a resolution to the effect
that a &#147;Change In Control&#148; has occurred for purposes of this Agreement. Company
Affiliate shall mean any affiliate of the Company, including without limitation,
Phillip Frost, Frost Gamma Investments Trust, The Frost Group, LLC or any of their
respective members or affiliates.</FONT></TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">7.</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><B>TERMINATION OF THE AGREEMENT</B></FONT></TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">(a)</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><U>By the Company with cause</U>. The Company may terminate the Executive&#146;s
Employment for cause, at any time, without advance notice or remuneration, if (1)&nbsp;the
Executive is convicted or pleads guilty to a felony or to an act of fraud,
misappropriation or embezzlement, (2)&nbsp;the Executive has been grossly negligent or acted
dishonestly to the detriment of the Company, (3)&nbsp;the Executive has engaged in actions
amounting to gross misconduct or failed to perform his duties hereunder and such
failure continues after the Executive is afforded a reasonable opportunity to cure such
failure, (4)&nbsp;the Executive has died, or (5)&nbsp;the Executive has a disability which shall
mean a physical or mental impairment which, as reasonably determined by the Board,
renders the Executive unable to perform the essential functions of his employment with
the Company, even with reasonable accommodation that does not impose an undue hardship
on the Company, for more than 180&nbsp;days in any 12-month period, unless a longer period
is required by applicable law, in which case that longer period would apply.</FONT></TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">(b)</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><U>By the Company without cause</U>. The Company may terminate the
Executive&#146;s Employment without cause, at any time, upon one-month prior written notice
to the Executive during the first year after the Effective Date, or two-month prior
written notice to the Executive during any period after the first anniversary of the
Effective Date.</FONT></TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">(c)</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><U>By the Executive for Good Reason</U>. If there is a material and
substantial reduction in the Executive&#146;s existing authority and responsibilities and
such resignation is approved by the Board, the Executive may resign upon one-month
prior written notice to the Company during the first year after the Effective Date, or
two-month prior written notice to the Company during any period after the first
anniversary of the Effective Date.</FONT></TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">(d)</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><U>Notice of Termination</U>. Any termination of the Executive&#146;s employment
under this Agreement shall be communicated by written notice of termination from the
terminating party to the other party. The notice of termination shall indicate the
specific provision(s) of this Agreement relied upon in effecting the termination.</FONT></TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">(e)</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><U>Remuneration upon Termination</U>. Upon the Company&#146;s termination of the
Employment without cause pursuant to Section 7(b) above or the Executive&#146;s resignation
upon the Board&#146;s approval pursuant to Section 7(c) above and upon the execution of a
general release agreement in a form reasonably acceptable to the Company, the Company
will provide remuneration to the Executive as follows: (1)&nbsp;if such termination or
resignation becomes effective during the first year after the Effective Date, the
Company will provide the Executive with a severance pay equal to three months base
salary of the Executive; (2)&nbsp;if such termination or resignation becomes effective
during any period after the first anniversary of the Effective Date, the Company will
provide the Executive with a severance pay equal to six months base salary of the
Executive; and (3)&nbsp;the Company will vest any options of the Initial Grant that would
have vested during the applicable severance period. Except for the foregoing, the
Executive shall not be entitled to any severance payments or benefits upon the
termination of the Employment for any reason, unless otherwise agreed to by the
Company. Any payments made pursuant to Section&nbsp;7(e)(1) or Section&nbsp;7(e)(2) shall be paid
in accordance with the Company&#146;s normal payroll cycles in effect on the termination or
resignation date.</FONT></TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">(f)</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><U>Termination by Executive for No Reason</U>. The Executive may terminate
his Employment for any reason, at any time, upon 90&nbsp;days prior written notice to the
Company.</FONT></TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">(g)</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><U>Compliance with Internal Revenue Code Section&nbsp;409A and 457A.</U> This
Agreement is intended to comply with the requirements of Internal Revenue Code (the
&#147;Code&#148;) Section&nbsp;409A and 457A, as applicable, and the corresponding regulations and
related guidance, and shall be administered in accordance with Section&nbsp;409A and Section
457A, to the extent such sections apply. To the extent Section&nbsp;409A or Section&nbsp;457A
applies, the parties agree to work together to ensure any payments pursuant to Section
7(d) of this Agreement comply with Section&nbsp;409A and Section&nbsp;457A, as applicable.</FONT></TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">8.</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><B>CONFIDENTIALITY AND NONDISCLOSURE</B></FONT></TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Confidentiality and Non-disclosure</U>. In the course of the Executive&#146;s
services, the Executive may have access to the Company and/or the Company&#146;s client&#146;s
and/or prospective client&#146;s trade secrets and confidential information, including but
not limited to those embodied in memoranda, manuals, letters or other documents,
computer disks, tapes or other information storage devices, hardware, or other media or
vehicles, pertaining to the Company and/or the Company&#146;s client&#146;s and/or prospective
client&#146;s business. All such trade secrets and confidential information are considered
confidential. All materials containing any such trade secret and confidential
information are the property of the Company and/or the Company&#146;s client and/or
prospective client, and shall be returned to the Company and/or the Company&#146;s client
and/or prospective client upon expiration or earlier termination of this Agreement.
The Executive shall not directly or indirectly disclose or use any such trade secret or
confidential information, except as required in the performance of the Executive&#146;s
duties in connection with the Employment, or pursuant to applicable law.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Trade Secrets.</U> During and after the Employment, the Executive shall
hold the Trade Secrets in strict confidence; the Executive shall not disclose these
Trade Secrets to anyone except other employees of the Company who have a need to know
the Trade Secrets in connection with the Company&#146;s business. The Executive shall not
use the Trade Secrets other than for the benefits of the Company.</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:8%; font-size: 11pt">&#147;<U>Trade Secrets</U>&#148; means information deemed confidential by the Company,
treated by the Company or which the Executive know or ought reasonably to have known
to be confidential, and trade secrets, including without limitation designs,
processes, pricing policies, methods, inventions, conceptions, technology, technical
data, financial information, corporate structure and know-how, relating to the
business and affairs of the Company and its subsidiaries, affiliates and business
associates, whether embodied in memoranda, manuals, letters or other documents,
computer disks, tapes or other information storage devices, hardware, or other media
or vehicles. Trade Secrets do not include information generally known or released
to public domain through no fault of the Executive.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Former Employer Information</U>. The Executive agrees that he has not and
will not, during the term of his employment improperly use or disclose any proprietary
information or trade secrets of any former employer, unless the former employer has
been acquired by the Company, or other person or entity with which the Executive has an
agreement to keep in confidence information acquired by Executive, if any. The
Executive will indemnify the Company and hold it harmless from and against all claims,
liabilities, damages and expenses, including reasonable attorneys&#146; fees and costs of
suit, arising out of or in connection with any violation of the foregoing.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Third Party Information</U>. The Executive recognizes that the Company may
have received, and in the future may receive, from third parties their confidential or
proprietary information subject to a duty on the Company&#146;s part to maintain the
confidentiality of such information and to use it only for certain limited purposes.
The Executive agrees that the Executive owes the Company and such third parties, during
the Executive&#146;s employment by the Company and thereafter, a duty to hold all such
confidential or proprietary information in the strictest confidence and not to disclose
it to any person or firm and to use it in a manner consistent with, and for the limited
purposes permitted by, the Company&#146;s agreement with such third party.</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:4%; font-size: 11pt">This Section&nbsp;8 shall survive the termination of this Agreement for any reason. In the
event the Executive breaches this Section&nbsp;8, the Company shall have right to seek any and
all remedies at law or in equity.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">9.</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><B>NON-COMPETITION AND NON-SOLICITATION</B></FONT></TD>
</TR>

</TABLE>



<P align="left" style="margin-left:4%; font-size: 11pt">(a)&nbsp;In consideration of the base salary provided to the Executive by the Company hereunder,
the adequacy of which is hereby acknowledged by the parties hereto, the Executive agrees
that during the term of the Employment and for a period of one year following the
termination of the Employment for whatever reason:



<P align="left" style="margin-left:8%; font-size: 11pt">(i)&nbsp;The Executive will not approach clients, customers or contacts of the Company or
other persons or entities introduced to the Executive in the Executive&#146;s capacity as
a representative of the Company for the purposes of doing business with such persons
or entities which will harm the business relationship between the Company and such
persons and/or entities;



<P align="left" style="margin-left:8%; font-size: 11pt">(ii)&nbsp;unless expressly consented to by the Company, the Executive will not seek
directly or indirectly, by the offer of alternative employment or other inducement
whatsoever, to solicit the services of any employee of the Company employed as at or
after the date of such termination, or in the year preceding such termination.



<P align="left" style="margin-left:4%; font-size: 11pt">(b)&nbsp;In consideration of the base salary provided to the Executive by the Company hereunder,
the adequacy of which is hereby acknowledged by the parties hereto, the Executive agrees
that during the term of the Employment and for a period of one year thereafter (except in
the event of a Termination by the Company without cause pursuant to Section 7(b) or in the
event of a Termination by the Executive for Good Reason pursuant to Section&nbsp;7(c)), following
the termination of the Employment for whatever reason, unless expressly consented to by the
Company, the Executive will not assume employment with or provide services for any
Competitor, or engage, whether as principal, partner, licensor or otherwise, in any
Competitor.



<P align="left" style="margin-left:4%; font-size: 11pt">(c)&nbsp;In consideration of the base salary provided to the Executive by the Company hereunder,
the adequacy of which is hereby acknowledged by the parties hereto, the Executive agrees
that in the event of a Termination by the Company without cause pursuant to Section 7(b) or
in the event of a Termination by the Executive for Good Reason pursuant to Section&nbsp;7(c),
then during the term of the Employment and for the period of the duration of the severance
pay described in Section&nbsp;7(e)(1) or Section&nbsp;7(e)(2), as appropriate, unless expressly
consented to by the Company, the Executive will not assume employment with or provide
services for any Competitor, or engage, whether as principal, partner, licensor or
otherwise, in any Competitor.



<P align="left" style="margin-left:4%; font-size: 11pt">The provisions contained in this Section&nbsp;9 are considered reasonable by the Executive and
the Company. In the event that any such provisions should be found to be void under
applicable laws but would be valid if some part thereof was deleted or the period or area of
application reduced, such provisions shall apply with such modification as may be necessary
to make them valid and effective.



<P align="left" style="margin-left:4%; font-size: 11pt">This Section&nbsp;9 shall survive the termination of this Agreement for any reason. In the event
the Executive breaches this Section&nbsp;9, the Executive acknowledges that there will be no
adequate remedy at law, and the Company shall be entitled to injunctive relief and/or a
decree for specific performance, and such other relief as may be proper (including monetary
damages if appropriate). In any event, the Company shall have right to seek any and all
remedies permissible at law or in equity.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">10.</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><B>ASSIGNMENT</B></FONT></TD>
</TR>

</TABLE>



<P align="left" style="margin-left:4%; font-size: 11pt">This Agreement is personal in its nature and neither of the parties hereto shall, without
the consent of the other, assign or transfer this Agreement or any rights or obligations
hereunder; provided, however, that (i)&nbsp;the Company may assign or transfer this Agreement or
any rights or obligations hereunder to any member of the SM Group without such consent, and
(ii)&nbsp;in the event of a Change-of-Control Transaction of the Company, this Agreement shall,
subject to the provisions hereof, be binding upon and inure to the benefit of such successor
and such successor shall discharge and perform all the promises, covenants, duties, and
obligations of the Company hereunder.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">11.</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><B>SEVERABILITY</B></FONT></TD>
</TR>

</TABLE>



<P align="left" style="margin-left:4%; font-size: 11pt">If any provision of this Agreement or the application thereof is held invalid, the
invalidity shall not affect other provisions or applications of this Agreement which can be
given effect without the invalid provisions or applications and to this end the provisions
of this Agreement are declared to be severable.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">12.</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><B>GOVERNING LAW</B></FONT></TD>
</TR>

</TABLE>



<P align="left" style="margin-left:4%; font-size: 11pt">This Agreement shall be governed by and construed in accordance with the law of the State of
New York, U.S.A.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">13.</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><B>AMENDMENT</B></FONT></TD>
</TR>

</TABLE>



<P align="left" style="margin-left:4%; font-size: 11pt">This Agreement may not be amended, modified or changed (in whole or in part), except by a
formal, definitive written agreement expressly referring to this Agreement, which agreement
is executed by both of the parties hereto.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">14.</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><B>WAIVER</B></FONT></TD>
</TR>

</TABLE>



<P align="left" style="margin-left:4%; font-size: 11pt">Neither the failure nor any delay on the part of a party to exercise any right, remedy,
power or privilege under this Agreement shall operate as a waiver thereof, nor shall any
single or partial exercise of any right, remedy, power or privilege preclude any other or
further exercise of the same or of any right, remedy, power or privilege, nor shall any
waiver of any right, remedy, power or privilege with respect to any occurrence be construed
as a waiver of such right, remedy, power or privilege with respect to any other occurrence.
No waiver shall be effective unless it is in writing and is signed by the party asserted to
have granted such waiver.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">15.</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><B>NOTICES</B></FONT></TD>
</TR>

</TABLE>



<P align="left" style="margin-left:4%; font-size: 11pt">All notices, requests, demands and other communications required or permitted under this
Agreement shall be in writing and shall be deemed to have been duly given and made if (i)
delivered by hand, (ii)&nbsp;otherwise delivered against receipt therefor, or (iii)&nbsp;sent by a
recognized courier with next-day or second-day delivery to the last known address of the
other party.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">16.</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><B>COUNTERPARTS</B></FONT></TD>
</TR>

</TABLE>



<P align="left" style="margin-left:4%; font-size: 11pt">This Agreement may be executed in any number of counterparts, each of which shall be deemed
an original as against any party whose signature appears thereon, and all of which together
shall constitute one and the same instrument. This Agreement shall become binding when one
or more counterparts hereof, individually or taken together, shall bear the signatures of
all of the parties reflected hereon as the signatories. Photographic copies of such signed
counterparts may be used in lieu of the originals for any purpose.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">17.</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><B>NO INTERPRETATION AGAINST DRAFTER</B></FONT></TD>
</TR>

</TABLE>



<P align="left" style="margin-left:4%; font-size: 11pt">Each party recognizes that this Agreement is a legally binding contract and acknowledges
that such party has had the opportunity to consult with legal counsel of choice. In any
construction of the terms of this Agreement, the same shall not be construed against either
party on the basis of that party being the drafter of such terms.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right"><FONT style="font-size: 12pt">18.</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 12pt"></FONT><FONT style="font-size: 11pt"><B>LANGUAGE</B></FONT></TD>
</TR>

</TABLE>



<P align="left" style="margin-left:4%; font-size: 11pt">This Agreement is prepared and executed in English.


<P align="center" style="font-size: 11pt">&#091;Remainder of this page has been intentionally left blank.&#093;



<P align="left" style="font-size: 11pt">IN WITNESS WHEREOF, this Agreement has been executed as of the date first written above.

<DIV align="center">
<TABLE style="font-size: 11pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="100%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="%">&nbsp;</TD>
</TR>
<TR style="font-size: 11pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><B>SEARCHMEDIA HOLDINGS LIMITED</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By: /s/ Robert Fried&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</DIV></TD>
</TR>
<TR style="font-size: 1px">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Name: Robert Fried</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Title: Co-Chairman of the Board</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">EXECUTIVE</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By: /s/ Wilfred Chow</DIV></TD>
</TR>
<TR style="font-size: 1px">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Name: Wilfred Chow</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;&nbsp;</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt; display: none">1
<!-- PAGEBREAK -->


<P align="center" style="font-size: 11pt"><U>Schedule&nbsp;A-1</U><BR>
<B>Cash Compensation</B>


<DIV align="center">
<TABLE style="font-size: 11pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="58%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="22%">&nbsp;</TD>
</TR>
<TR style="font-size: 11pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Amount</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Pay Period</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top"><B>Base Salary&nbsp;</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">US $200,000 annually, subject to applicable<BR>
withholding and other taxes<BR>
&nbsp;<BR>
&nbsp;&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Payable in 12 equal<BR>
monthly<BR>
installments for<BR>
each calendar year<BR>
&nbsp;</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top"><B>Bonus</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Discretionary as approved by the Board of Directors.
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">As determined by<BR>
the Board of<BR>
Directors</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 11pt"><U>Schedule&nbsp;A-2</U><BR>
<B>Initial Equity Award</B>



<P align="left" style="font-size: 11pt"><FONT style="font-size: 12pt">Subject to the approval of the Company&#146;s Board of Directors, Executive will be granted an
option to purchase 225,000 shares of the Company&#146;s common stock. This award will vest 75,000
shares on the one year anniversary of the date of grant, 75,000 shares on the second anniversary on
the date of grant and 75,000 on the third anniversary of the date of grant and which will subject
to the terms and conditions contained in a stock option agreement to be entered into by you and the
Company prior to the grant. The exercise price per share will be equal to the closing price of the
Company&#146;s common stock on the date the option is granted. Following any Change of Control
Transaction, all unvested options in this grant will vest upon the closing of the Change of Control
Transaction.
</FONT>


<P align="center" style="font-size: 10pt; display: none">2




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<P align="left" style="font-size: 10pt"><FONT style="font-size: 8pt"><B>Exhibit&nbsp;99.1</B>
</FONT>

<P align="center" style="font-size: 8pt"><B>SearchMedia Holdings Limited Strengthens Management Team</B>



<P align="left" style="font-size: 8pt">SHANGHAI &#151;  January&nbsp;6, 2010 &#151; SearchMedia Holdings Limited (&#147;SearchMedia&#148; or the &#147;Company&#148;) (NYSE
Amex: IDI, IDI.WS) (formerly Ideation Acquisition Corp.), one of China&#146;s leading nationwide
multi-platform media companies, today announced that its Board of Directors has made several key
additions to the Company&#146;s executive team as part of its plan to enhance its senior management and
position SearchMedia for long-term profitable growth. Mr.&nbsp;Wilfred Chow has been appointed Chief
Financial Officer of the Company and Mr.&nbsp;Joshua Weingard has been appointed Corporate Counsel. Ms.
Jennifer Huang, who has been serving in the additional role as Acting CFO, will continue to serve
as the Company&#146;s Chief Operating Officer.


<P align="left" style="font-size: 8pt">Mr.&nbsp;Wilfred Chow joins the Company with nearly 20&nbsp;years of experience in the financial markets in
both China and the US. Prior to joining SearchMedia, Mr.&nbsp;Chow was the Senior VP of Finance of
American Oriental Bioengineering, Inc. (NYSE:AOB), where he orchestrated the company&#146;s overall
capital markets, investor relations and M&A strategies. He also led and completed two public
offerings raising over $200&nbsp;million. The company&#146;s market capitalization increased substantially
during his tenure. Mr.&nbsp;Chow also assisted in the company&#146;s implementation and compliance with SOX
404. From 2001 to 2004, Mr.&nbsp;Chow held the position of Chief Financial Officer for Aptegrity, Inc.,
a US venture-backed company specializing in providing applications monitoring and maintaining and
optimizing complex web-based systems. In addition, he has served as a manager for
PricewaterhouseCoopers in the New York capital market group and as a senior auditor for Deloitte &
Touche in Hong Kong and New York. Mr.&nbsp;Chow received his Bachelor&#146;s degree in Economics from the
University of Hong Kong and his MBA from the University of Leicester.


<P align="left" style="font-size: 8pt">Mr.&nbsp;Joshua Weingard has over 10&nbsp;years of experience in corporate and securities law.&nbsp; Prior to
joining SearchMedia, Mr.&nbsp;Weingard was the Executive Vice President and Chief Legal Officer for
NationsHealth, Inc., a publicly traded healthcare company, where he oversaw all legal matters.
Prior to that, he served as Senior Corporate and Securities Counsel for Andrx Corporation, a
Nasdaq-listed pharmaceutical company.&nbsp; Mr.&nbsp;Weingard received his JD, MBA and Bachelor&#146;s degree in
business administration from the University of Florida. Mr.&nbsp;Weingard also currently serves as the
chief legal officer for three other public companies with affiliations to The Frost Group.


<P align="left" style="font-size: 8pt">Ms.&nbsp;Garbo Lee, SearchMedia&#146;s President, stated, &#147;We are excited about these new additions to our
Company, and believe we now have a stronger and more highly seasoned management team in place to
help further accelerate our Company&#146;s growth and increase our competitive advantages. Wilfred
brings considerable experience navigating the financial markets, especially in a multi-cultural
setting. His expertise in auditing, SOX 404 compliance and communicating with Wall Street will
help us to improve our visibility and transparency. Along with Wilfred, Joshua deepens our
compliance, governance, and legal capabilities.&#148;


<P align="left" style="font-size: 8pt"><B>About SearchMedia</B>


<P align="left" style="font-size: 8pt">SearchMedia is a leading nationwide multi-platform media company and one of the largest operators
of integrated outdoor billboard and in-elevator advertising networks in China. SearchMedia
currently operates a network of over 1,500 high-impact billboards with over 500,000 square feet of
surface display area and one of China&#146;s largest networks of in-elevator advertisement panels
consisting of approximately 125,000 frames in 52 cities throughout China. Additionally,
SearchMedia operates a network of large-format light boxes in concourses of eight major subway
lines in Shanghai. SearchMedia&#146;s core outdoor billboard and in-elevator platforms are complemented
by its subway advertising platform, which together enable it to provide multi-platform, &#147;one-stop
shop&#148; services for its local, national and international advertising clients that numbered more
than 780 cumulatively since inception.


<P align="left" style="font-size: 8pt"><B>Forward-Looking Statements</B>


<P align="left" style="font-size: 8pt">Any statements contained in this press release that do not describe historical facts, including
statements about SearchMedia&#146;s beliefs and expectations, may constitute forward-looking statements
as that term is defined by the United States Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology such as &#147;will,&#148; &#147;expect,&#148;
&#147;anticipate,&#148; &#147;future,&#148; &#147;intend,&#148; &#147;plan,&#148; &#147;believe,&#148; &#147;estimate,&#148; &#147;confident&#148; and similar
statements. Any forward-looking statements contained herein are based on current expectations, but
are subject to a number of risks and uncertainties that may cause actual results to differ
materially from expectations. A number of important factors could cause actual results to differ
materially from those contained in any forward-looking statement. Potential risks and uncertainties
include, but are not limited to: our ability to achieve long-term profitable growth, the
effectiveness of our new management and the integration of new management into our current
management team, the risks that there are uncertainties and matters beyond the control of
management, and other risks outlined in our filings with the U.S. Securities and Exchange
Commission. SearchMedia cautions readers not to place undue reliance upon any forward-looking
statements, which speak only as of the date made. SearchMedia does not undertake or accept any
obligation or undertaking to release publicly any updates or revisions to any forward-looking
statement to reflect any change in their expectations or any change in events, conditions or
circumstances on which any such statement is based.


<P align="left" style="font-size: 8pt"><B>Contact:</B>
<BR>
Devlin Lander
<BR>
ICR
<BR>
(415)&nbsp;419-5606
<BR>
<U>devlin.lander@icrinc.com</U>



<P align="center" style="font-size: 10pt; display: none">




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