Hurray!'s Board of Directors Receives Expression of Interest for Share Acquisition

Hurray!'s Board of Directors Receives Expression of Interest for Share
Acquisition

BEIJING, April 29 /PRNewswire-Asia/ -- Hurray! Holding Co., Ltd.
(Nasdaq: HRAY), a leader in artist development, music production and wireless
music distribution and other wireless value-added services in China, today
announced that the Company has received from Best Prospect Overseas Limited an
expression of interest in acquiring a 51% stake in the Company. The expression
of interest is subject to the satisfactory completion of various conditions,
including negotiation of mutually acceptable terms of the acquisition.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050314/CNM005LOGO )
The Board of Directors of the Company is evaluating various strategic
alternatives in due course to maximize shareholder value. The Company cautions
that there can be no assurance that the consideration or exploration of
alternatives will result in a particular course of action.
About Hurray! Holding Co., Ltd.
Hurray! is a leader in artist development, music production and offline
distribution in China through its record labels Huayi Brothers Music, Freeland
Music, New Run Entertainment, Secular Bird and Seed Music Group. The Company,
through Fly Songs, also organizes concerts and other music events in China.
Hurray! is also 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.
The Company also 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.
Forward-looking Statements
This press release contains statements of a forward-looking nature. These
statements are made under the "safe harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995. You can identify these forward-
looking statements by terminology such as "will," "expects," "believes" and
similar statements. The accuracy of these statements may be impacted by a
number of business risks and uncertainties that could cause actual results to
differ materially from those projected or anticipated, including risks related
to: the decision by the Company to explore one or more strategic alternatives,
including the ability to reach an acceptable agreement with respect to any
strategic alternative; Company's ability to implement a strategic alternative;
whether the strategic alternatives could result in increasing shareholder
value; and other risks outlined in Hurray!'s filings with the Securities and
Exchange Commission, including its registration statement on Form F-1, as
amended, and annual reports on Form 20-F. Hurray! does not undertake any
obligation to update this forward-looking information, except as required
under applicable law.
SOURCE Hurray! Holding Co., Ltd.

Christina Low F.S., Investor Relations Officer, +86-10-8455-5566 x5532, or
IR@hurray.com.cn