Zuoan Fashion Limited (NYSE: ZA) (“Zuoan” or the “Company”), a leading design-driven fashion casual menswear company in China, today announced that it has priced its initial public offering of 6,000,000 American Depositary Shares (“ADSs”), each representing four ordinary shares of the company, at US$7.00 per ADS. The offering generated gross proceeds of approximately US$42.0 million, before exercising the over allotment option by the underwriters. The ADSs will begin trading on the New York Stock Exchange on February 15, 2011 under the symbol “ZA.” The underwriters have been granted a 30-day option to purchase up to 900,000 additional ADSs from the selling shareholders to cover over allotments. Cowen and Company, LLC acted as book-runner and RBC Capital Markets, LLC, Samsung Securities (Asia) Limited and Janney Montgomery Scott, LLC acted as co-managers for the offering. Zuoan’s registration statement relating to the initial public offering has been declared effective by the United States Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting Cowen and Company, LLC c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, phone: +1-631-274-2806, and fax: +1-631-254-7140. About Zuoan Fashion Limited Zuoan Fashion Limited is a leading design-driven fashion casual menswear company in China. Zuoan offers a wide range of products, including men’s casual apparel, footwear and lifestyle accessories, primarily targeting urban males between the ages of 20 and 40 who prefer stylish clothing that represents a sophisticated lifestyle. Through extensive networks of distributors and retail stores, Zuoan sells its products in 27 of China’s 32 provinces and municipalities. As of September 30, 2010, Zuoan had 1,075 stores in total including 31 direct stores located in seven provinces and municipalities in China.