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TheStreet Open House

KongZhong Corporation Partners With ArenaNet To Bring Guild Wars 2 To The China Online Game Market

BEIJING, Aug. 29, 2012 /PRNewswire-Asia/ -- KongZhong Corporation (NASDAQ: KONG), a leading provider of digital entertainment services for consumers in the PRC, today announced that it has entered into a definitive agreement with ArenaNet, Inc, developer of the renowned Guild Wars franchise, to bring Guild Wars 2 ( www.guildwars2.com) to the mainland China online game market as its exclusive mainland China partner.  Guild Wars 2 is a visually stunning game that is poised to revolutionize the MMO genre by providing players the epic grandeur of a massive roleplaying environment as well as innovative combat mechanics, dynamic events, and personal storytelling.

The partnership entered between KONG and ArenaNet ranks as one of the largest single new Western game licensing transactions to date in the China marketplace, which emphasizes the growing significance KONG has in the digital entertainment distribution space. As part of this agreement, KONG has granted a warrant to ArenaNet for the purchase of up to 40 million of KONG's ordinary shares (equivalent to 1 million of KONG's ADSs), with an exercise price of US$ 0.175 per ordinary share (or US$ 7.00 per ADS). This warrant is exercisable after the commercial launch of Guild Wars 2 in the mainland China market and is valid for one year after the commercial launch.

KONG's Chief Executive Officer and Chairman of the Board, Mr. Wang Lei Lei, said, "We are excited to be the exclusive partner of ArenaNet to bring Guild Wars 2 to the mainland China market. We admire the dedication and passion of the Guild Wars 2 development team and believe this is reflected in Guild Wars 2 being highly anticipated around the world, including by China gamers. I believe Chinese game players will be impressed by Guild Wars 2 unique gameplay which will bring truly epic, cooperative gameplay back to the MMORPG genre."

"We designed Guild Wars 2 to not only redefine the MMO category, but to appeal to a global audience," said Mike O'Brien, president and co-founder, ArenaNet. "We are looking forward to introducing Guild Wars 2 to Chinese gamers, who are eager to experience bold and innovative games, and KongZhong is the perfect partner in this market."

About KongZhong:

We are one of the leading providers of digital entertainment services for consumers in the PRC. We operate three main business units, namely WVAS, mobile games and Internet games. We are one of the leading providers of WVAS to mobile phone users and have been in cooperation with all major telecommunications operators in the PRC since 2002. In 2005, we began providing feature-phone mobile games on the networks of China Mobile with the acquisition of Tianjin Mammoth, a mobile games developer. To further expand our mobile games development capabilities, we acquired Noumena in 2012 in order to develop smartphone mobile games on smartphone mobile operating systems, such as iOS and Android. We commenced our Internet games business in 2010 through our acquisition of Dacheng, a developer and operator of Internet games in the PRC. In addition to developing and operating our self-developed Internet games, such as Loong, Demon Code and Kung Fu Hero, we are the exclusive operator of the popular World of Tanks game for the PRC Internet games market. About ArenaNet, Inc.:



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