Hong Kong, October 15, 2004-China Finance Online Co. Limited announced today that its initial public offering of 6.2 million American Depositary Shares ("ADSs"), consisting of 5.0 million ADSs offered by the company and 1.2 million ADSs offered by its selling shareholders, was priced at US$13 per ADSs. In addition, the selling shareholders have granted the underwriters an option to purchase up to an additional 930,000 ADSs to cover over-allotments. The ADSs are scheduled to begin trading on October 15, 2004 New York City time on the Nasdaq National Market under the trading symbol "JRJC".

J.P.Morgan Securities Inc., Jeffries Broadview and WR Hambrecht Co. are underwriting the offering, with J.P.Morgan Securites Inc. serving as the representative of the underwriters.

A copy of the prospectus relating to the offering may be obtained from J.P.Morgan Securites Inc., 277 Park Avenue, New York, New York 10172, telephone +1-212-902-1000.

About China Finance Online Co. Limited

China Finance Online specializes in providing online financial and listed company data and information in China. Through its website, www.jrj.com, the company offers subscription-based service packages that integrate financial and listed company data and information from multiple sources with features and functions such as data and information search, retrieval, delivery, storage and analysis. These features and functions are delivered using software tools China Finance Online has developed.