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The phrase "a press release announcing" is correct and usable in written English.
You can use it when referring to a formal statement issued to the media to announce something significant, such as an event, product launch, or company news.
Example: "The company issued a press release announcing the launch of their new product line next month."
Alternatives: "a media statement declaring" or "an announcement regarding".
Exact(60)
(a) Issued a press release announcing… 1.
(a) Issued a press release announcing his endorsement by Hootie and the Blowfish.
In February, he sent out a press release announcing a $78 billion takeover offer for Sony.
On December 12th, however, Eisner presented him with a press release announcing his departure.
On December 1st, RT issued a press release announcing Flynn's participation.
Nobody hit the send button on a press release announcing the news.
In a press release announcing the sale, Verizon used similar language.
In an unprecedented move, BlackRock issued a press release announcing that it had supported the shareholder proposal.
A press release announcing the release of yet another new product – the Tesla Model W captioned 'It's a watch.
About 12 30 Monday morning, Lehman sent out a press release announcing its intention to seek bankruptcy protection.
Meanwhile, Nike sends out a press release, announcing that it's signed Jones to a multi-year endorsement deal.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com