BRIEF-Beijing Sports And Entertainment Industry says unit entered into share transfer agreement

April 7 (Reuters) - Beijing Sports And Entertainment

Industry Group Ltd :

* Zhong Hu Yuedong, Beijing Zhongying and Beijing Zhong Hu

Shengjia entered into share transfer agreement

* Group will receive a net proceeds of disposal of

approximately HK$15 million

* Zhong Hu Yuedong agreed to sell and Beijing Zhongying

agreed to repurchase 65% shareholding interest in jv co and jv

subsidiary co

* Deal for consideration of RMB13 million

* Estimated that co will realize an unaudited gain on

disposal of approximately RMB4.1 million

* Intends to apply net proceeds for investment in

sports-related business

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