China Finance Online Announces Stock Repurchase Program

BEIJING, March 31 /Xinhua-PRNewswire/ -- China Finance Online Co. Limited (Nasdaq: JRJC ), one of the leading companies that specialize in providing online financial and listed company data and information in China, announced today that its board of directors has approved a stock repurchase program pursuant to which the company expects to purchase from time to time up to US$10 million worth of its American Depositary Shares, or ADSs, over a period of six months.

Under the terms of the approved stock repurchase program, China Finance Online will repurchase its ADSs through open market purchases on NASDAQ on terms deemed appropriate by the company in compliance with the anti- manipulation provisions of the SEC's Rule 10b-18. The timing and amount of repurchase transactions under this program will depend on market conditions as well as other corporate and regulatory considerations, and will also be subject to Rule 10b-18 requirements. The purchases will be funded from available working capital. As of February 28, 2005, China Finance Online had 6,320,000 ADSs outstanding.

''We believe that China Finance Online's stock is undervalued in the marketplace and as such represents a sound investment for the Company,'' said Sam Qian, president and chief financial officer of China Finance Online. ''In addition, we believe this repurchase represents China Finance Online's commitment to its shareholders and serves as an indication of the fundamental strength of the Company and its positive outlook for long-term growth. We are confident in the future of China Finance Online and believe this repurchase program articulates our confidence while at the same time allows us to maintain significant cash for strategic purposes.''