Focus Media Network : Rights Issue on the Basis of Four Rights Shares for Every One Existing Share Held on the Record Date - Commencement of Dealing in the Shares on An Ex-rights Basis

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement appears for information purposes only and does not constitute an invitation or offer to sell, dispose, acquire, purchase or subscribe for securities in the Company.

FOCUS MEDIA NETWORK LIMITED

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 8112)

RIGHTS ISSUE ON THE BASIS OF FOUR RIGHTS SHARES FOR EVERY ONE EXISTING SHARE HELD ON THE RECORD DATE

COMMENCEMENT OF DEALING IN THE SHARES ON AN EX-RIGHTS BASIS

References are made to the circular of Focus Media Network Limited (the ''Company'') dated 3 August 2017 (the ''Circular'') and the announcement of the Company dated 22 August 2017 (the ''Announcement'') in relation to, among other things, the Rights Issue. Unless otherwise specified, capitalised terms used herein shall have the same meanings as those defined in the Circular

Pursuant to the expected timetable for the Rights Issue as set out in the Announcement, the last day of dealings in the Shares on a cum-rights basis was Thursday, 24 August 2017. The closing price per Share as quoted on the Stock Exchange on Thursday, 24 August 2017 was HK$0.245. The theoretical ex-entitlement price per Share after the Rights Issue, based on the closing price per Share as quoted on the Stock Exchange on Thursday, 24 August 2017, is HK$0.233.

Dealings in the Shares on an ex-rights basis shall commence on Friday, 25 August 2017.

WARNING OF THE RISK OF DEALINGS IN THE SHARES AND THE NIL-PAID RIGHTS SHARES

Shareholders and potential investors should note that the Rights Issue is conditional upon the Underwriting Agreement having become unconditional and the Underwriters not having terminated the Underwriting Agreement in accordance with the terms thereof. Accordingly, the Rights Issue may or may not proceed.

In the event the conditions of the Rights Issue are not fulfilled or waived (as the case may be) or the Underwriting Agreement is terminated, the Rights Issue will not proceed. Any Shareholders or other persons contemplating selling or purchasing Shares and/or Rights Shares in their nil- paid form who are in any doubt about their position are recommended to consult their professional advisers. Any Shareholders or other persons dealing in Shares up to the date on which all the conditions to which the Rights Issue is subject are fulfilled or waived (as the case may be) (and the date on which the Underwriters' right of termination of the Underwriting Agreement ceases) and any persons dealing in the nil-paid Rights Shares during the period from Monday, 4 September 2017 to Monday, 11 September 2017 (both dates inclusive) will accordingly bear the risk that the Rights Issue may not become unconditional and may not proceed.

Shareholders and potential investors should exercise extreme caution when dealing in the Shares and the nil-paid Rights Shares, and if they are in any doubt about their position, they should consult their professional advisers.

By order of the Board

Focus Media Network Limited An Xilei

Chairman

Hong Kong, 24 August 2017

As at the date of this announcement, the Board comprises Mr. An Xilei (Chairman), Mr. Wong Hong Gay Patrick Jonathan, Mr. Chen Xiaoping, Mr. Mock Wai Yin, Ms. Lam Hoi Yu Nicki and Mr. Wang Jun as executive Directors; and Mr. Chan Chi Keung Alan, Mr. Lee Chi Hwa Joshua and Ms. Lau Mei Ying as independent non-executive Directors.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will remain on the ''Latest Company Announcements'' page of the GEM website at www.hkgem.com for at least 7 days from the date of its posting. This announcement will also be posted on the Company's website at www.focusmedia.com.