ChinaNet Online Holdings Attended Largest SME Fair in Korea

BEIJING, Oct. 23, 2012 (GLOBE NEWSWIRE) -- ChinaNet Online Holdings, Inc. (Nasdaq:CNET) (the "Company"), a leading B2B (business to business) Internet technology company focusing on providing online-to-offline ("O2O") sales channel expansion services for small and medium-sized enterprises ("SMEs") and entrepreneurial networking and management services for entrepreneurs in the People's Republic of China, today announced that the Company has participated in the 15th Global Great Good Fair ("G-Fair"), the biggest trade fair of SMEs in Korea held at the Korea International Exhibition Center ("KINTEX") located in Seoul, South Korea, on October 17-19, 2012.

G-Fair is the biggest trade fair for SMEs in Korea, featuring consumer goods and industrial products and services companies. Hundreds of domestic and international buyers, suppliers and service providers attend G-Fair to see the latest products, services, and technologies from over 900 companies worldwide. It also provides an opportunity for companies to discuss partnership opportunities, particularly in markets such as China.

"We are proud to be invited to G-Fair Korea," Mr. George Chu, COO of the Company stated. "It's a terrific opportunity for us to expand our network and client base to the large and vibrant small and medium business community in Korea. At this exhibition, we held extensive one-on-one talk discussions with over 40 prospective clients and business partners. Korean businesses are exhibiting strong growth in several sectors, including cosmetic, food and electronics. This is part of our strategic goal of communicating to businesses around the world that we can help them to expand faster than any other company in China, just as we have for over 10,000 small businesses in China over the last eight years"

About ChinaNet Online Holdings, Inc.

The Company, a parent company of ChinaNet Online Media Group Ltd., incorporated in the BVI ("ChinaNet"), is a leading B2B (business to business) Internet technology company focusing on providing O2O (online to offline) sales channel expansion service for small and medium-sized enterprises (SMEs) and entrepreneurial management and networking service for entrepreneurs in China. The Company, through certain contractual arrangements with operating companies in the PRC, provides Internet advertising and other services for Chinese SMEs via its portal websites, 28.com, Liansuo.com and Chuangye.com, TV commercials and program production via China-Net TV, and in-house LCD advertising on banking kiosks targeting Chinese banking patrons. Website: http://www.chinanet-online.com.

Safe Harbor

This release contains certain "forward-looking statements" relating to the business of ChinaNet Online Holdings, Inc., which can be identified by the use of forward-looking terminology such as "believes," "expects," "anticipates," "estimates" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including business uncertainties relating to government regulation of our industry, market demand, reliance on key personnel, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on ChinaNet's current expectations and beliefs concerning future developments and their potential effects on the company. There can be no assurance that future developments affecting ChinaNet will be those anticipated by ChinaNet. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. ChinaNet undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

CONTACT: MZ North America

         Ted Haberfield, President

         Tel:  +1-760-755-2716

         Email: thaberfield@mzgroup.us

         Web: www.mzgroup.us

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