Shanda Games Establishes Joint Venture With China Network Television

SHANGHAI, China, Sept. 8, 2010 (GLOBE NEWSWIRE) -- Shanda Games Limited ("Shanda Games", or the "Company") (Nasdaq:GAME), a leading online game developer, operator and publisher in China, and China Network Television ("CNTV"), a national online broadcaster, today announced a strategic partnership to form a joint venture company ("the Joint Venture") to establish an online game video channel, as well as to engage in other related businesses such as online game operation.

CNTV is a global, multi-lingual and multi-terminal online broadcasting platform that offers interactive audiovisual services to users. The Joint Venture will operate a new, interactive game media platform that will leverage the superior capabilities of CNTV and Shanda Games, such as an integrated media platform, multiple marketing channels, technology and game operating expertise. Additionally, the Joint Venture will develop and offer innovative game products through CNTV's full-featured media channels, which integrate both traditional and new media, and enhance online game user experience.

Mr. Wen-bin Wang, General Manager of China Network Television, said, "This Joint Venture advances CNTV's development strategy by leveraging Shanda Games' superior online game operation capabilities and deep understanding of the market in a way that will strengthen the competitiveness of both companies."

Mr. Alan Tan, Chairman and CEO of Shanda Games, commented, "We believe that online video is becoming an important channel for all game users to gather information and experience game content. Shanda Games strives to remain at the forefront of innovation as it shapes the industry's future. I believe that the Joint Venture will create more possibilities for industry partnerships and will bring new ideas and creativity to the China online game industry's future development. We believe that this partnership can be a model for strategic cooperation within the industry, and we will make a determined effort to maximize the value of the Joint Venture to make that model a reality."