The number of shares to be purchased and the proration information are preliminary and subject to change. The preliminary information contained in this press release is subject to confirmation by the depositary, the impact of "odd lot" holders whose shares will be purchased on a priority basis and the proper delivery of all shares tendered (including shares tendered pursuant to guaranteed delivery procedures). The final number of shares to be purchased and the final proration information will be announced following the expiration of the guaranteed delivery period and completion by the depositary of the confirmation process. Payment for the shares accepted for purchase under the tender offer, and return of all other shares tendered and not purchased, will occur promptly thereafter, which UTStarcom currently expects to be on or about January 11, 2013.Jefferies & Company, Inc. is the dealer manager for the tender offer. The information agent for the tender offer is Alliance Advisors LLC. Shareholders, banks and brokers who have questions may call the dealer manager at (877) 547-6340 (toll free) or the information agent at (877) 777-5603 (toll free). Tender Offer Statement This press release is for informational purposes only and is neither an offer to buy nor the solicitation of an offer to sell any of UTStarcom's ordinary shares. About UTStarcom Holdings Corp. UTStarcom is focused on providing next generation media operational support services in the rapidly growing markets for TV over IP services and broadband equipment products and services. UTStarcom is committed to meeting the evolving needs of cable and broadband service providers to enable a more personalized entertainment experience. The Company sells its media operational support services and broadband equipment products and services to operators in both emerging and established broadband and cable markets around the world. UTStarcom was founded in 1991 and has traded on the NASDAQ since 2000. The Company has its operational headquarters in Beijing, China and research and development operations in China and India. For more information about UTStarcom, visit the Company's website at http://www.utstar.com.