Shanda and Baidu Forge Strategic Partnership.
According to International Data Corporation, or IDC, a leading market research firm, the online population in China reached approximately 90 million in 2004 and is expected to grow to 170 million by 2009. At the same time, an increasing amount of multimedia entertainment content is becoming available through the Internet, increasing the need for fast, efficient and comprehensive web search tools of such content. The strategic cooperation between Shanda, the leading interactive entertainment content provider in China, and Baidu, the largest Chinese language search engine, will better serve the consumers' rapidly evolving Internet entertainment needs.
"We are delighted about the opportunity to cooperate with Shanda. We believe this cooperation will help to improve our users' search experience as well as enable us to reach more users with specific needs for interactive entertainment content," said Robin Li, chief executive officer of Baidu.
"Making our content offerings more easily available to a broader user base is consistent with our strategy to become the leader of interactive entertainment in China. The strategic cooperation with Baidu is an important step toward this goal," said Tianqiao Chen, chief executive officer of Shanda. "In addition, having Baidu's search engine available on our platform brings more convenience and value to our millions of users."
About Shanda Interactive Entertainment Limited
Shanda Interactive Entertainment Limited is the largest operator of online games in China. Shanda offers a portfolio of massively multi-player and casual online games that users play over the Internet, including several of the most popular online games in China. Shanda's game platform attracts a large and loyal user base, each member of which can interact with thousands of others, which creates a strong community among users. For more information about Shanda, please visit http://www.snda.com/ .
About Baidu.com Inc.
Baidu.com, Inc. is the largest Chinese language search engine developer and operator in the world. Based on its core value of "simple and dependable," Baidu aims to provide the best way for people to find information. Baidu offers a comprehensive index of Chinese web pages, mp3 files, images, news as well as an online community based on users' queries. Baidu boosts over 100 million search page views on a daily basis and is ranked as the second largest website in China. For more information about Baidu.com, please visit http://www.baidu.com/ .
Safe Harbor Statement
This announcement contains forward-looking statements that are based on current expectations, assumptions, estimates and projections about the companies and the industry. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to statements regarding the growth of Internet users in China and the future benefits of the strategic partnership between Baidu and Shanda. These forward-looking statements involve various risks and uncertainties. Although the companies believe that their expectations expressed in these forward-looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct. Important risks and uncertainties could cause actual results to be materially different from expectations include but not limited to the risks set forth in Shanda's filings with the U.S. Securities and Exchanges Commission, including Shanda's registration statement on Form F-1.
CONTACT: Donglei Zhou, Director of Investor Relations of Shanda Interactive Entertainment Limited, +86-21-5050-4740, or IR@shanda.com.cn; or Investors - Todd St.Onge +1-212-986-6667, or firstname.lastname@example.org, or Media - Michael DiPaolo, +1-212-986-6667, or email@example.com, both of Brainerd Communicators, Inc., for SNDA; or Kun He, Manager of Investor Relations of Baidu.com Inc., +86-10-8262-1188, or firstname.lastname@example.org
Web Site: http://www.baidu.com/ http://www.snda.com/
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|Date:||Mar 24, 2005|
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