Chinese media group Huayi Brother Tuesday held a press conference on the contract extension with actor Ren Quan and actress Li Bingbing, two of its leading stars, Sohu.com reports.

The media giant has been involved in a series of "contract rumors" in recent months, after actress Fan Bingbing terminated her contract with Huayi Brothers at the end of last year.

Speculations rose as another influential star Li Bingbing's contract with Huayi Brother was also going to run out. News has spread that Huayi Brothers offered 80 million yuan (about US$10 million) for a three-year renewal.

Now the dust may settle as Huayi Brothers took a high-profile stance and announced the stay of Li Bingbing and Ren Quan.

Ren quan was dressed as a "piano prince' at the press conference and Li Bingbing, dressed as a fairy, ascended from air with her "wings".

Actress Zhou Xun, actor Huang Xiaoming, director Zhang Jizhong, also appear at the conference.

(CRI.cn May 30, 2007)