ChinaNet Online Holdings Inc. (CHNT)

[solarity]

Beijing, China, November 16, 2009 -- ChinaNet Online Holdings, Inc. (“ChinaNet”, OTC BB: CHNT), a leading full-service media development, advertising and communications company for small and medium-sized enterprises in the People's Republic of China ("PRC"), today announced higher revenues, net income and cash flow for the third quarter 2009.

Revenues increased 21.7 percent to $8.1 million in the third quarter 2009

Third quarter 2009 adjusted net income increased 19.9 percent to $1.9 million with adjusted earnings per share of $0.12

First nine months 2009 revenues increased 105.1 percent to $27.3 million

First nine months adjusted net income increased 120.1 percent to $4.5 million

First nine months 2009 adjusted earnings per share increased 106.7 percent to $0.31

Gross margins improved 581 basis points to 50.4 percent for the third quarter of 2009

Cash flow from operations was $4.7 million for the first nine months of 2009

Management to host earnings conference call November 16th at 11:30 a.m. ET