COMPLETES INITIAL PUBLIC OFFERING

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FOR IMMEDIATE RELEASE

PANTHEON CHINA ACQUISITION CORP.

COMPLETES INITIAL PUBLIC OFFERING

Hong Kong, China , December 20, 2006 - Pantheon China Acquisition Corp. (OTC Bulletin Board: PCQCU) announced today that it has completed its initial public offering of 5,750,000 units, including 750,000 units subject to the over-allotment option. Each unit consists of one share of common stock and two warrants. The units were sold at an offering price of $6.00 per unit, generating gross proceeds of $34,500,000 to the Company. EarlyBirdCapital, Inc. acted as representative of the underwriters for the initial public offering. A copy of the prospectus may be obtained from EarlyBirdCapital, Inc., 275 Madison Avenue, Suite 1203, New York, New York 10016.

The Company also announced the simultaneous consummation of the private sale of 2,083,334 warrants at a price of $0.60 per warrant, generating total pro