ACEI Begins Trading on OTC Bulletin Board on April 3, 2001

Apr 03, 2001, 01:00 ET from American Champion Entertainment

    HAYWARD, Calif., April 3 /PRNewswire/ --
 American Champion Entertainment, Inc. (OTC Bulletin Board:   ACEI) announces
 today that its common stock and its warrants are delisted from the Nasdaq
 SmallCap market effective April 3, 2001, and its common stock under the same
 symbol begins trading on the OTC Bulletin Board on April 3, 2001.  The Company
 will conduct business as usually and its largest shareholder, Holley Holding
 (U.S.A.) Ltd., will continue to move forward with its business plan
 interjecting Holley's business in the U.S. under the ACEI structure.
     In a letter from Nasdaq dated April 2, 2001, the Company is notified that
 its common stock is delisted from the Nasdaq SmallCap market due to "bid price
 deficiency, ... change of control, ... change in the Company's fundamental
 business and financial structure, thereby requiring the combined entity to
 satisfy all requirements for initial inclusion..."  The warrant is delisted
 due the lack of two market makers.  When Holley's utilities meters and power
 automation businesses begin to reflect on the Company's financial statements,
 the Company plans to re-qualify for Nasdaq under initial listing requirements.
 The Chairman of ACEI, Mr. Licheng Wang, and the President, Mr. Yuanhao Li,
 remain to have confidence in the Company's business future and look forward to
 eventually re-qualifying on Nasdaq.
     The Company's common stock is immediately eligible to trade on the
 OTC Bulletin Board and shall begin so on April 3, 2001.
     American Champion Entertainment is a holding company with subsidiaries
 specializing in the development and acquisition of quality family and sports
 programming, as well as development and sales of utilities meter products and
 technology.
     Private Securities Litigation Reform Act of 1995 provides a ``safe
 harbor'' for forward-looking statements.  Certain information included in this
 Press Release contain statements that are forward-looking, such as statements
 relating to the future anticipated direction of the industry as described in
 this release, plans for future expansion, various business development
 activities, planned capital expenditures, future funding sources, anticipated
 sales growth, and potential contracts.  Such forward-looking information
 involves important risks and uncertainties that could significantly affect
 anticipated results in the future, and accordingly, such results may differ
 from those expressed in any forward-looking statements made by or on behalf of
 ACEI.  These risks and uncertainties included, but are not limited to, those
 relating to development and expansion activities, dependence on existing
 management, financing activities, domestic and global economic conditions,
 change in Federal or state laws, and market competition factors.  In the
 context of forward-looking information provided in this news release,
 reference is made to the discussion of risk factors detailed in the company's
 filings with the Securities and Exchange Commission during the past 12 months.
 
 

SOURCE American Champion Entertainment
    HAYWARD, Calif., April 3 /PRNewswire/ --
 American Champion Entertainment, Inc. (OTC Bulletin Board:   ACEI) announces
 today that its common stock and its warrants are delisted from the Nasdaq
 SmallCap market effective April 3, 2001, and its common stock under the same
 symbol begins trading on the OTC Bulletin Board on April 3, 2001.  The Company
 will conduct business as usually and its largest shareholder, Holley Holding
 (U.S.A.) Ltd., will continue to move forward with its business plan
 interjecting Holley's business in the U.S. under the ACEI structure.
     In a letter from Nasdaq dated April 2, 2001, the Company is notified that
 its common stock is delisted from the Nasdaq SmallCap market due to "bid price
 deficiency, ... change of control, ... change in the Company's fundamental
 business and financial structure, thereby requiring the combined entity to
 satisfy all requirements for initial inclusion..."  The warrant is delisted
 due the lack of two market makers.  When Holley's utilities meters and power
 automation businesses begin to reflect on the Company's financial statements,
 the Company plans to re-qualify for Nasdaq under initial listing requirements.
 The Chairman of ACEI, Mr. Licheng Wang, and the President, Mr. Yuanhao Li,
 remain to have confidence in the Company's business future and look forward to
 eventually re-qualifying on Nasdaq.
     The Company's common stock is immediately eligible to trade on the
 OTC Bulletin Board and shall begin so on April 3, 2001.
     American Champion Entertainment is a holding company with subsidiaries
 specializing in the development and acquisition of quality family and sports
 programming, as well as development and sales of utilities meter products and
 technology.
     Private Securities Litigation Reform Act of 1995 provides a ``safe
 harbor'' for forward-looking statements.  Certain information included in this
 Press Release contain statements that are forward-looking, such as statements
 relating to the future anticipated direction of the industry as described in
 this release, plans for future expansion, various business development
 activities, planned capital expenditures, future funding sources, anticipated
 sales growth, and potential contracts.  Such forward-looking information
 involves important risks and uncertainties that could significantly affect
 anticipated results in the future, and accordingly, such results may differ
 from those expressed in any forward-looking statements made by or on behalf of
 ACEI.  These risks and uncertainties included, but are not limited to, those
 relating to development and expansion activities, dependence on existing
 management, financing activities, domestic and global economic conditions,
 change in Federal or state laws, and market competition factors.  In the
 context of forward-looking information provided in this news release,
 reference is made to the discussion of risk factors detailed in the company's
 filings with the Securities and Exchange Commission during the past 12 months.
 
 SOURCE  American Champion Entertainment