Appellate Court Holds VisionChina in Breach of Contract Granting Summary Judgment in Favor of Gobi and Oak

   Appellate Court Holds VisionChina in Breach of Contract Granting Summary
                      Judgment in Favor of Gobi and Oak

Total Damages Could Exceed US$108 million

PR Newswire

NEW YORK, June 13, 2013

NEW YORK, June 13, 2013 /PRNewswire/ -- The Appellate Division of the New York
State Supreme Court has granted partial summary judgment in favor of Gobi
Partners and Oak Investment Partners in their breach of contract claims
against VisionChina Media Inc. (Nasdaq: VISN) and its subsidiary
("VisionChina"). In the same ruling, the appellate court affirmed the
dismissal of VisionChina's claims of fraud and reversed the lower court's
grant of a motion to attach $60m in assets.

In reaction to this ruling, Thomas J. Kavaler, a partner at Cahill Gordon &
Reindel LLP and counsel to Gobi and Oak, stated that, "With this legal
victory, plaintiffs now can proceed to collect their judgment of $60 million
from VisionChina and also to continue to pursue their other claims."

With this grant of partial summary judgment, Gobi and Oak have prevailed on
most of the claims in their lawsuit against VisionChina relating to
VisionChina's acquisition of a promising digital advertising company called
Digital Media Group (DMG), previously owned by Gobi and Oak.Gobi and Oak plan
to take all measures to enforce over US$108 million in contractual obligation
and damages against VisionChina.

SOURCE Gobi Partners, Inc.

Contact: Mr. Mark Kuo, +86 21 5292 9729, mark@gobivc.com
 
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