ChinaNet Online Holdings Builds Relationships with Taiwan-Based Global Franchises

BEIJING, October 4, 2010 -- ChinaNet Online Holdings, Inc. ("ChinaNet"), (Nasdaq:CNET), a leading full-service media development, and internet technology company for small and medium-sized enterprises (SMEs) in the People's Republic of China ("China"), today reported on the Company’s successful participation in the 2010 Taipei International Chain and Franchise Autumn Exhibition held September 17 - 20 at the World Trade Exhibition Centre in Taipei, Taiwan, introducing a new media platform to showcase and initiate relationships with the Taiwan-based franchises in attendance.

Hosted by the Taiwan Chain and Franchise Association, the Exhibition is the largest franchise business exhibition in Asia with over two hundred brands and 60,000 visitors in attendance this year. Attendance at the Exhibition served as the launch of ChinaNet’s strategic expansion into Taiwan, and is part of the overall strategy to attract foreign franchises to China through its flagship franchise gateway and marketing platform, 28.com

For the event, ChinaNet placed a professional editorial and TV production team onsite to meet, interview and showcase franchises and their brands. The company built a new online media reporting platform on 28.com (http://taipei2010.expo.28.com) for viewers in China and Taiwan, which has now received over 10 million views.

Mr. Handong Cheng, Chairman and CEO of the Company said, "We are pleased with the launch of our expansion into Taiwan and the positive response to our new media platform. Our onsite reporting introduced us to a host of Taiwan-based franchises, and demonstrated our full service media capabilities. We will build upon these new relationships as we promote the expansion of Taiwanese franchise enterprises in China."

About ChinaNet Online Holdings, Inc.

ChinaNet Online Holdings Inc. (hereafter ChinaNet, NASDAQ: CNET), a leading B2B full-service media development and internet technology company connecting entrepreneurs in China with global business opportunity. ChinaNet focuses on small- and medium-sized enterprises (SMEs), especially franchise business, providing online advertising, content and brand management solutions, and offering online management tools on a multichannel communication platform. The headquarters is located in Beijing with other branches in Shanghai, Guangzhou, Shenzhen and Wuhan. As a technology and strategy-driven investment holding company, serving for Chinese medium and small companies and entrepreneurs is currently our fundamental purpose; relevant diversification is our principle of investment, initially to form the Internet advertising and product services, television advertising, program production and delivery, interbank media, marketing and brand planning and their core businesses. Under the leadership of Mr. Handong Cheng, who is the Chairman and CEO of ChinaNet, the company has been growing continuously since its establishment in 2003 with all aspects of operations to be the leading company in the Chinese online merchant join industry. ChinaNet Online taking the meaning "online network for Chinese people," it indicates that through innovative products and services for medium and small enterprises and entrepreneurs to create an ideal entrepreneurial home.

Safe Harbor Statement

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.