ChinaGrowth South Acquisition Corp. (CGSAC) announced that its Extraordinary General Meeting of Shareholders originally scheduled to be convened on January 23 has been rescheduled for January 27. The company also said that in the event ChinaGrowth North Acquisition Corp. executes a definitive acquisition agreement, then CGSAC may pursue acquisition opportunities north of Yangtze River.

ChinaGrowth South Acquisition CORP, Special/Extraordinary Shareholders Meeting, Jan 27, 2009, at 11:00 US Eastern Time. Location: DLA Piper LLP, 1251 Avenue of the Americas, New York,United States. Agenda: To approve the share purchase agreement dated as of December 16, 2008, by and among CGSAC, Olympia Media Holdings Limited and each of the shareholders and founder of OMH as listed therein; to approve by ordinary resolution to increase CGSAC's share capital to $63,000 divided into 60,000,000 ordinary shares of a par value of $0.001 each and 3,000,000 preferred shares of a par value of $0.001 each; to approve by special resolution of the change of the corporate name of CGSAC to China Top Reach Inc.; to approve by special resolution of an amendment to the amended and restated Memorandum and Articles of Association to create a new class of ordinary shares called class A ordinary shares and exchange each founder share for one class A ordinary share.

ChinaGrowth South Acquisition Corp. will held extraordinary general meeting of shareholders on January 22, 2009, to approve the special resolution of an amendment to the Amended and restated Memorandum and Articles of Association to (i) create a new class of ordinary shares called class A ordinary shares and exchange each founder share for one class A ordinary Share, collectively, the (ii) redeem the IPO Shares for cash from the trust account in an amount per share not less than the amount required by the amended and restated memorandum and articles of association, and in connection with the redemption, distribute to holders of the IPO Shares one ordinary share for every forty IPO Shares redeemed and (iii) remove Article 168 through Article 173 from the amended and restated memorandum and articles of association, which, among other blank check company restrictions.