1171689--4/14/2008--ASIA_GLOBAL_HOLDINGS

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{regulation, change, law}

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Risks Related to the Company You should not place undue reliance on our financial guidance, nor should you rely on our quarterly or annual operating results as an indication of our future performance because our results of operations are subject to significant fluctuations. We may not be able to successfully upgrade and integrate our existing products and technology. Our future revenues and results of operations may be difficult to forecast and results in prior periods may no be indicative of future results. Changes in general economic conditions could have a material impact on our business. Acquisitions may harm our financial results. Disputes concerning media content and intellectual property may adversely affect us. Third parties that are engaged by the Company may have legal action brought against them which could adversely affect us or may result in legal action against the Company. Television production budgets may increase, and television production spending may exceed such budgets. We have an obligation to finance production costs. In order for our television and related products to be successful, we must develop appealing creative content. Work stoppages could adversely impact our operations. If we lost any key personnel, our business will be adversely affected. In order to continue to operate efficiently and to grow our business, we will need to attract and retain qualified personnel and manage our costs, which we may be unable to do. Our operations are vulnerable to natural disasters and other events, including terrorist attacks, because we have limited backup systems. Our network operations may be vulnerable to hacking, viruses and other disruptions, which may make our products and services less attractive and reliable. We depend on proprietary rights and we face the risk of infringement. Future currency fluctuations and restrictions on currency exchange may adversely affect our business, including limiting our ability to convert Chinese renminbi into foreign currencies and, if Chinese renminbi were to decline in value, reducing our revenues in U.S. dollar terms. Changes to existing accounting pronouncements, including SFAS 123R, or taxation rules or practices may adversely affect our reported results of operations or how we conduct our business. While we believe that we currently have adequate internal control procedures in place, we are still exposed to potential risks from recent legislation requiring companies to evaluate controls under Section 404 of the Sarbanes-Oxley Act of 2002. Our stock price has been historically volatile and may continue to be volatile, which may make it more difficult for you to resell shares when you want at prices you find attractive. We may be classified as a passive foreign investment company, which could result in adverse U.S. tax consequences to U.S. investors. We have a single shareholder who can substantially influence the outcome of all matters voted upon by our shareholders and whose interests may not be aligned with yours. We must rely on the Chinese government to develop China's Internet infrastructure and, if it does not develop this infrastructure, our ability to grow our business could be hindered. We may be adversely affected by complexity, uncertainties and changes in PRC regulation of Internet business and companies, including limitations on our ability to own key assets such as our website. We may be exposed to infringement claims by third parties, which, if successful, could cause us to pay significant damage awards. Our failure to compete successfully may hinder our growth. Changes in laws and standards relating to data collection and use practices and the privacy of internet users, or related litigation, could harm our business. Privacy concerns may prevent us from collecting user data. We face risks associated with technological changes.

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1171689--4/14/2008--ASIA_GLOBAL_HOLDINGS_CORP.