updated 10/28/2010 8:15:34 AM ET 2010-10-28T12:15:34

ORLANDO, Fla., Oct. 28, 2010 (GLOBE NEWSWIRE) -- Emerging Media Holdings, Inc. (OTCBB:EMDH), a prominent television and media supplier in the Eastern European markets of Moldova, announced today the completion of an exciting and profitable joint venture agreement with Zingan.com, the parent company of allMoldova.com, the nation's leading internet news and information portal.

allMoldova.com represents 55% of the online advertising revenue generated in the Republic of Moldova and has continued to be the driving force in the online advertising sector in this Eastern European geography and demographic. With a focus on providing timely information such as news, politics, weather, financial and local business advertising, allMoldova.com is the premier one stop source for all things Moldovan.

Emerging Media Holdings, Inc. through an agreement with Zingan.com, the parent company of allMoldova.com, intends to merge Television Advertising and Online Advertising into one complete offering that will insure the marketing dollars of its advertisers are precise and effective in reaching the entire target audience. Through this joint venture agreement, Emerging Media Holdings, Inc. will immediately gain access to a stream of online advertising revenue that has not been recognized in previous years.

"We are excited to have completed this partnership agreement with Zingan.com and believe that we are on track to maintain our position as the leading news and information source provider in Eastern Europe, with emphasis in the Republic of Moldova. The online advertising market in Moldova is growing at a record 25% per year. This strategic move will provide stability, revenue and earnings to our shareholder base ahead of schedule," said Iurie Bordian, CEO of Emerging Media Holdings, Inc.

About allMoldova.com

allMoldova.com provides daily news covering Moldova's most significant political, economic and social events. With an emphasis on vital interviews and current articles on business and culture. allMoldova.com provides local businesses with a marketing and advertising platform that provides direct viewership and information distribution to the masses. More than 40,000 weekly viewers turn to allMoldova.com for their news and information needs.

About Emerging Media Holdings Inc.

Emerging Media Holdings Inc. is the U.S. parent company of three Moldova-based subsidiaries engaged in radio and television broadcasting and related advertising sales activities. Its 100%-owned subsidiary Analytic Media Group is a market-leading television broadcaster and content creator in the Republic of Moldova, an Eastern European country located between Romania to the west and Ukraine to the north, east and south. Visit the company on the Web at http://www.emergingmediaholdings.com

About Our Forward-Looking Statements

Certain statements contained in this press release, including, without limitation, statements containing the words "believes", "anticipates", "expects" and words of similar import, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve both known and unknown risks and uncertainties. Our actual results may differ materially from those anticipated in our forward-looking statements as a result of a number of factors, including our ability to create, sustain, manage or forecast our growth; our ability to attract and retain key personnel; changes in our business strategy or development plans; competition; business disruptions; adverse publicity and international, national and local general economic and market conditions. Except as required by applicable law, we undertake no obligation to revise or update any of our forward-looking statements in order to reflect any event or circumstance that may arise after the date hereof.

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