Hurray! Announces Merger With Enlight Media

Hurray! Holding Co., Ltd. (Nasdaq: HRAY – News), a leader in artist development, music production, wireless music distribution, and other wireless value-added services in China, announced today the signing of a definitive agreement to merge with Enlight Media Ltd. (”Enlight”), a leading private entertainment content production and distribution company in China, in an all stock transaction. After the transaction, the combined company will be renamed Hurray! Enlight Media Group.

Hurray! is a leading online distributor of music and music-related products such as ringtones, ringbacktones and truetones to mobile users in China through the full range of wireless value-added services platforms over mobile networks and through the internet. Hurray! is also a leader in artist development, music production and offline distribution in China through its record labels Huayi Brothers Music, Freeland Music, New Run Entertainment and Secular Bird. In addition, the company provides a wide range of other wireless value-added services to mobile users in China, including games, pictures and animation, community and other media and entertainment services.

Enlight is one of the largest private entertainment program producers and publishers in China, producing four hours of daily entertainment news, music, fashion and reality shows. The programs are broadcast through more than 600 television channels in China, including one national digital pay-television channel. Enlight is also a leading event and concert organizer in China, organizing five annual entertainment award ceremonies covering the fields of music, television drama, fashion and modeling. As one of the largest movie and television drama companies in China, Enlight invested in and distributed five full length motion pictures and over 200 hours of television drama in 2007. It also maintains an entertainment video library with over 50,000 hours of content and a video website.

The combination of the two companies creates one of the largest domestically-based entertainment content and distribution companies in China, with a leading position in diversified areas, including entertainment content and music production, event organization, mobile gaming, artist agency, movie and television drama investment and distribution and wireless value-added services.

”This is a defining moment for Hurray!,” said QD Wang, the Founder and CEO of Hurray! ”With our prior acquisitions of music and gaming companies, Hurray! has been transitioning from a pure SP company to an entertainment and media group, integrating content production and distribution. This merger with Enlight is definitely a key milestone in attaining that goal. I look forward to the new company’s sustainable and rapid development within China’s fast growing entertainment and media market”.