Focus Media Holding Limited (Nasdaq: FMCN) announced on March 1 st , 2007 that it has entered into a definitive agreement to acquire Allyes Information Technology Company Limited. Under the agreement, Focus Media will acquire a 100% equity stake of Allyes for $70 million in cash and $155 million in the form of Focus Media ordinary shares, and an additional payment of up to $75 million in Focus Media ordinary shares contingent upon Allyes meeting certain earnings targets during the twelve month period from April 1, 2007 to March 31, 2008.

Allyes is the largest Internet advertising agency and provider of Internet advertising technology in China .