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Ctrip Announces the Closing of a Secondary Offering of 13,290,000 ADSs

Ctrip.com International, Ltd.
2007-08-16 12:30 1231

SHANGHAI, China, Aug. 16 /Xinhua-PRNewswire-FirstCall/ -- Ctrip.com International, Ltd. (Nasdaq: CTRP), a leading travel service provider of hotel accommodations, airline tickets and packaged-tours in China, today announced the closing of a secondary offering of 13,290,000 American depositary shares ("ADSs"), each representing 0.5 ordinary share, at a price to the public of $38 per ADS. All of the 13,290,000 ADSs are sold by Rakuten, Inc., a Japanese public company listed on the JASDAQ market (Jasdaq: 4755) which was a shareholder of Ctrip until the closing of the offering. Ctrip will not receive any proceeds from the sale of ADSs by Rakuten.

Morgan Stanley & Co. Incorporated is serving as the sole bookrunner for this offering, and Citigroup Global Markets Inc. is serving as the senior co-manager.

In connection with this secondary offering, Mr. Hideaki Yokomizo, a former director of Ctrip appointed by Rakuten, has resigned from Ctrip’s Board of Directors, effective on August 16, 2007.

The offering of these securities is being made only by means of a prospectus supplement, filed with the U.S. Securities and Exchange Commission in connection with an automatic shelf registration statement previously filed by Ctrip. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Ctrip.com International, Ltd.

Ctrip.com International, Ltd. is a leading travel service provider of hotel accommodations, airline tickets and packaged-tours in China. Ctrip aggregates information on hotels and flights and enables customers to make informed and cost-effective hotel and flight bookings. Ctrip targets primarily business and leisure travelers in China who do not travel in groups. These travelers form a traditionally under-served yet fast-growing segment of the travel industry in China. Since its inception in 1999, Ctrip has experienced substantial growth and become one of the best-known travel brands in China.

For Further Information

Tracy Cui

Ctrip.com International, Ltd.

Tel: +86-21-3406-4880 X 12216

Email: jrcui@ctrip.com

Source: Ctrip.com International, Ltd.
Keywords: Travel
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