Hurray! News

Hurray! to Establish Joint Venture with BTV Subsidiary to Become Exclusive Wireless Value-Added Services Provider

BEIJING, August 16, 2007 /Xinhua-PRNewswire/ -- 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, today announced the signing of definitive agreements to establish a joint venture with Beijing TV Media Co., Ltd. ("BTVM"), a subsidiary of Beijing TV station (“BTV”), which will exclusively operate BTV’s wireless value-added services for ten years, such as SMS, MMS, IVR, WAP, RBT, True Tone, music video, picture downloads and other wireless value-added services.

Commenting on this announcement, QD Wang, Chairman and Chief Executive Officer of Hurray!, said, "We are extremely pleased to announce this further strategic partnership with BTV in developing and delivering wireless value-added services enabling all BTV channels and programs to interact with TV audiences. This event further enhances us in developing new distribution channels and gaining access to TV and video content. It takes us one step closer toward our goal of becoming a leading digital entertainment content production and distribution house in China."

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, and Secular Bird.

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. The company has further expanded its reach through a new venture with Beijing TV Media, the new media channel of Beijing TV, to provide mobile interactive services for all Beijing TV programs.

About Beijing TV station
BTV is one of the top five TV networks in China, with a broad audience of more than 250 million viewers. It operates one national satellite TV channel and twelve local channels, and offers a broad range of programs including news, TV drama, business, entertainment and sports.

About Beijing TV Media Co., Ltd.
BTVM is the new media subsidiary of BTV and owns exclusive rights for wireless value-added services offered through all BTV programs and channels, in addition to other new media services rights.
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," "anticipates," "future," "intends," "plans," "believes," "estimates" 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: the risk that Hurray! and BTVM may not be able to agree on the specific terms of the proposed partnership, in which case such partnership may not be established in a timely manner or at all; the risk that this or any future cooperation will not create the operational and financial results that the management and board of directors of Hurray! expect, including in particular the risk that BTV’s programming will not continue to be able to attract audiences in China; the risk that the popularity of BTV program related wireless value-added services will not continue to grow or that it may decrease; the risk that this and any future partnership or acquisition could divert management's attention from Hurray!'s operations, which could adversely affect its results of operations; and the risks outlined in our filings with the Securities and Exchange Commission, including our registration statement on Form F-1. We do not undertake any obligation to update this forward-looking information, except as required under applicable law.

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For more information, please contact:
Phoebe Meng
Investor Relations Manager
Tel: 8610-84555566 x 5532
yfmeng@hurray.com.cn

Source: Hurray! Holding Co., Ltd.