SHANGHAI, China, March 21 /Xinhua-PRNewswire/ -- Shanda Interactive Entertainment Limited (Nasdaq: SNDA), or Shanda, a leading interactive entertainment media company in China, announced today that it has entered into an exclusive agreement with leading Korean online game developer Wemade Entertainment, Co., Ltd., or Wemade, for the license to operate the highly anticipated 3D MMORPG Changchun Online in mainland China. The game is expected to enter open-beta testing in China in the second half of 2007.
Changchun Online is a unique fighting game based upon the popular Chinese novel "The Romance of Three Kingdoms," which is one of a collection of four classic novels with an extensive reader base in China. It was produced by Kwan-ho Park, CEO of Wemade, who is often referred to as the ‘Steven Spielberg' of the online game industry. On January 22, 2007, Changchun Online won the Championship for its game music in Computer Entertainment Listening Session of Midem, the world largest music event in France. The game has finished the second round of closed-beta testing in Korea, which attracted over 100,000 applicants for only 2,000 accounts. As of March 20, 2007, Changchun Online was voted as the most anticipated game by Korean gamers on Mud4u.com, one of the largest game portals in Korea.
As the best-performing Korean online game developer in the Chinese market, Wemade has an excellent track record in online game development and a deep understanding of China's online game market. The Company's most popular MMORPG titles, Legend of Mir II and Legend of Mir III, which were launched in China by Shanda and Optisp in 2002 and 2003, recorded Peak Concurrent Users ("PCU") of 700,000 and 300,000 respectively.
"After three years of dedication and effort we are ready to introduce Changchun Online in China. Shanda is the largest and also the best game operator in China. Given our previous relationship, Shanda was our first and we believe, the best, choice," said Kwan-ho Park, CEO of Wemade. "Our collaboration with Shanda reinforces our expectation that Changchun Online has the potential to become yet another record breaking title."
"We are very excited to work with Mr. Park again. He is one of the most respected online game producers, designers and architects with a track record of blockbuster titles. We are very optimistic about Changchun Online's prospects, particularly given our previous successful cooperation with Wemade on Mir II," said Tianqiao Chen, CEO of Shanda.
"Changchun Online offers a visually appealing and dynamic gaming experience that could appeal a large audience. The game is well suited to our profitable come-stay-pay revenue model, and will be supported by our strong operating and marketing platform. After introducing this exceptional new title, we plan to add more high quality games to our platform in the months ahead," Mr. Chen concluded.
About Wemade Entertainment, Co., Ltd.
Wemade Entertainment, Co., Ltd. ("Wemade") is a South Korean online game developer founded in 2000. The Company developed the highly popular MMORPG games Legend of Mir II and Legend of Mir III. In addition to Changchun Online, which is currently in open-beta testing, Wemade is developing Chung in and Creamph. As one of the first South Korean online game developers to enter the Chinese market, Wemade has accumulated expertise in online game development and marketing in China. In 2005, Wemade established a Shanghai branch focusing on developing games for the Chinese local market. For more information about Wemade, please visit http://www.wemade.com .
About Shanda Interactive Entertainment Limited
Shanda Interactive Entertainment Limited (Nasdaq: SNDA) is a leading interactive entertainment media company in China. Shanda offers a portfolio of diversified entertainment content including some of the most popular massively multi-player and casual online games in China, along with online chess and board games, network PC games and a variety of cartoons, literature works and music. Shanda's interactive entertainment platform attracts a large and loyal user base, of which more and more is coming from homes. Each user can interact with thousands of others and enjoy the interactive entertainment content that Shanda provides. Interaction enriches your life. For more information about Shanda, please visit http://www.snda.com .
Safe Harbor Statement
This announcement contains forward-looking statements that are based on current expectations, assumptions, estimates and projections about the companies and the industry. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the statements regarding the date open-beta testing of Changchun Online is expected to begin, the future appeal of Changchun Online to MMORPG users in China and Changchun Online's ability to provide the company with future growth opportunities. These forward-looking statements involve various risks and uncertainties. Although the companies believe that their expectations expressed in these forward-looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct. Important risks and uncertainties could cause actual results to be materially different from expectations include but not limited to the risk that open beta testing of Changchun Online may be delayed, that Changchun Online is not well received by MMORPG users in China and the risks set forth in Shanda's filings with the U.S. Securities and Exchanges Commission, including Shanda's annual report on Form 20-F.
