DALLAS, TX--(Marketwire - March 26, 2010) - China Crescent Enterprises, Inc. (OTCBB: CCTR) and Fonix Corporation (OTCBB: FNXC) today announced that they have agreed to the terms of a management agreement whereby China Crescent will assist in the management of the Fonix telecom industry-related software operations in China currently conducted by Fonix's subsidiary, Shanghai Gaozhi Software Systems Limited. The management agreement is part of a contemplated strategic business transaction between Fonix and China Crescent currently under development.