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CMGE Launches War Valley

Stocks in this article: CMGE

GUANGZHOU, China, July 18, 2013 (GLOBE NEWSWIRE) -- China Mobile Games and Entertainment Group Limited ("CMGE" or the "Company") (Nasdaq:CMGE), a leading mobile game company in China, today announced that it began open beta testing for its newest proprietary heavy MMORPG game War Valley on July 17, 2013. The Company has entered into agreements with China's six largest game platforms to distribute the game during open beta testing.

War Valley is a heavy MMORPG social game set against a backdrop of Western fantasy myth. Players can choose from four unique classes as they customize and develop their characters through exploration and raiding. Revenue is generated through the in-game sale of virtual items. Developed for both iOS and Android-based platforms, War Valley will be translated into multiple languages and published in Asia, North America and Europe upon its expected August 2013 global launch.

On the first day of its release, War Valley delivered the following financial and operational results:

   
Registrations Over 50,000
Pay Rate: 10%
Recharge Amount Over RMB200,000 

In May 2013, War Valley received both the Online Game Award for Excellence at the Global Mobile Games Congress and the Top 10 Mobile Game at the Global Mobile Internet Conference.

"I am extremely excited to announce the launch of War Valley, a game which I believe demonstrates our ability to design and develop exciting proprietary smartphone games with the potential to become major hits," commented Mr. San Liu, CMGE's Chief Operating Officer. "We continue to work diligently on our long-term strategy of focusing on developing and publishing smartphone games. We expect monthly revenue from War Valley to potentially exceed RMB10 million, and the initial results from its first day in operation are very encouraging. We anticipate that the release of solid proprietary games such as this will help drive our sustainable performance over the long run."

About CMGE

CMGE is a leading mobile game company in China with the largest market share among mobile game developers in terms of revenues in 2010, 2011 and 2012, according to Analysys International, an independent market research firm. CMGE has integrated capabilities in the development, operation, sale and distribution of mobile games in China. Its mobile handset design business complements its game development business as it pre-installs CMGE's mobile games and game platforms in the handsets it designs, and enhances CMGE's knowledge of user habits and preferences and industry trends. CMGE has a large and diversified portfolio of games for smartphones and feature phones, and has strong development capabilities, evidenced by the fact that it develops single-player games and social games for both types of handsets.

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