Perfect World Announces Recent Business Developments

Press Releases Issued During the Period:

March 4, 2011 - Perfect World to Launch Open Beta Testing for "Empire of Immortals" on March 22

OVERSEAS LICENSING AGREEMENTS

Licensing "Dragon Excalibur" to Vietnam

In January 2011, Perfect World signed an agreement with FPT Online Service Joint Stock Company ("FPT Online") to license "Dragon Excalibur" to Vietnam. "Dragon Excalibur" is a 2D real-time MMORPG proprietarily developed by Perfect World's Shanghai R&D team. The game runs on a brand new game engine and features lustrous visual effects, clan battles that blend Eastern and Western fighting styles, diversified pet systems, and innovative classes and skills. "Dragon Excalibur" was first launched in Mainland China in October 2010.

Licensing "Forsaken World" to Singapore, Malaysia, Thailand, the Philippines, Hong Kong and Macau

In January 2011, Perfect World again cooperated with Cubinet Interactive Group ("Cubinet Interactive"), signing agreements with its subsidiaries Cubinet Interactive Sdn Bhd, Cubinet Interactive (Thailand) Co., Ltd. and Cubinet Interactive Philippines Corporation to license "Forsaken World" to Singapore and Malaysia, Thailand and the Philippines, respectively. In addition, Perfect World signed an agreement with Gamania Digital Entertainment (HK) Co., Ltd., a wholly owned subsidiary of Gamania Digital Entertainment Co., Ltd. (OTC: 6180) ("Gamania"), to license "Forsaken World" to Hong Kong and Macau. "Forsaken World" is a 3D MMORPG which caters to the tastes of global game players. Set against the backdrop of a fantasy world, "Forsaken World" breaks new ground by introducing a multitude of innovative features and novel gaming concepts.  Players themselves are able to alter the fate of the world through their individual actions in the game.  "Forsaken World" was first launched in Mainland China in October 2010.

OVERSEAS OPERATIONS

Obtained License to Operate "Rusty Hearts" in North America

In January 2011, Perfect World Entertainment Inc., a wholly owned U.S. subsidiary of Perfect World, signed an agreement with WindySoft Co., Ltd. ("WindySoft"), a Korea-based company, to operate "Rusty Hearts" in North America.  "Rusty Hearts" is an action-based MORPG developed by Stairway Games, and WindySoft possesses the game's global publishing rights.  With its advanced action features and game-play design, "Rusty Hearts" has received great attention of players and publishers from North America and Asia.

AWARDS

Won Eight Grand Awards at the "2010 China Game Industry Annual Conference"

The "2010 China Game Industry Annual Conference" was successfully held from January 18 to 21, 2011, in Beijing, China. At the "Golden Phoenix" Grand Awards Ceremony during the conference, Perfect World's outstanding performance in 2010 earned it the following awards:

• 2010 Top 10 Chinese Game Developers
• 2010 Top 10 Chinese Game Operators
• 2010 Most Influential Individuals in the Chinese Game Industry - Perfect World Chairman Mr. Michael Yufeng Chi
• 2010 Top 10 Most Popular Online Games- "Zhu Xian"
• 2010 Top 10 Most Popular Domestically-Developed Online Games - "Zhu Xian"
• 2010 Top 10 Most Popular Online Casual Games - "Hot Dance Party"
• 2010 Overseas Development Awards for Domestic Games - "Empire of the Immortals"
• 2011 Top 10 Most Anticipated Online Games - "Swordsman Online"

About FPT Online Service Joint Stock Company (http://www.fptonline.net)

Established in July 2007 in Vietnam, FPT Online Service Joint Stock Company primarily focuses on online games, digital music, e-commerce and SMS service.  FPT Online is particularly adept in the online gaming business, having publishing a number of online games in Vietnam.  The Company's portal site, Gate.vn, aggregates services including game portals, blogging, multimedia, file sharing, personal homepages, free email and SMS, as well as other commercial services like classifieds, online shopping and online payment.  Committed to the highest level of customer satisfaction, FPT aims to leverage its vision and visibility in Vietnam's online community to emerge as a top game publisher and digital content provider.

About Cubinet Interactive Group (http://www.cubinet.com)

Cubinet Interactive Group is engaged in developing and publishing high-quality game products in the Southeast Asia market.  Composed of a large number of senior experts in all aspects, Cubinet Interactive also has strong network support and a strong user's community.  In addition to the publication and operation of games in Malaysia and Singapore, Cubinet Interactive also develops business throughout the rest of Southeast Asia region.  Through cooperation with Perfect World, the company successfully launched "Perfect World II" in Malaysia and Singapore.  "Perfect World II" was one of the best performing online games in Southeast Asia in 2007.  In addition, the company also introduced Perfect World's other games such as "Battle of the Immortals," "Legend of Martial Arts," "Chi Bi," "Zhu Xian" and "Hot Dance Party" to the region where they also became popular.

About Gamania Digital Entertainment Co., Ltd. (http://www.gamania.com)

Gamania Digital Entertainment Co., Ltd. (OTC: 6180) is a leading PC online game and digital entertainment corporation, providing high quality online games and digital entertainment content to consumers all over the world. Gamania has established a number of overseas branch offices in China, Japan, Korea, Hong Kong, the United States and Europe.  With its core-business being PC online gaming, Gamania aims to become a leading digital entertainment brand, providing diversified digital entertainment content including online games, animations, and other entertainment platform to the world.

About WindySoft Co., Ltd. (http://www.windysoft.net)

Established in 2002, WindySoft Co., Ltd. is a leading Korea-based online gaming company.  It has gained a high reputation by successfully publishing "GetAmped" in Korea.  The development or publishing of other games such as "GA2," "Cosmic Break," "Katamari Damacy Online," "MegaTen Online," "Rusty Hearts" and "HEVA" led to the build-up of its action-gaming portal "Windyzone.com."  WindySoft has also successfully licensed a number of games to its partners in various countries and areas, such as Japan, China, Taiwan, Brazil, Europe and other South East Asian territories.  Providing a variety of game business models to its selective partners, WindySoft continues to extend its resources and efficient business partnerships throughout the world.

About Perfect World Co., Ltd. (http://www.pwrd.com)

Perfect World Co., Ltd. (NASDAQ: PWRD) is a leading online game developer and operator based in China.  Perfect World primarily develops online games based on proprietary game engines and game development platforms.  The Company's strong technology and creative game design capabilities, combined with extensive knowledge and experiences in the online game market, enable it to frequently and promptly introduce popular games designed to cater changing customer preferences and market trends.  The Company's current portfolio of self-developed online games includes massively multiplayer online role playing games ("MMORPGs"): "Perfect World," "Legend of Martial Arts," "Perfect World II," "Zhu Xian," "Chi Bi," "Pocketpet Journey West," "Battle of the Immortals," "Fantasy Zhu Xian," "Forsaken World," "Dragon Excalibur," and "Empire of the Immortals;" and an online casual game: "Hot Dance Party."  While a substantial portion of the revenues are generated in China, the Company's games have been licensed to leading game operators in a number of countries and regions in Asia, South America and the Russian Federation and other Russian speaking territories.  The Company also generates revenues from game operations in North America, Europe and Japan.  The Company plans to continue to explore new and innovative business models and remains deeply committed to maximizing shareholder value over time.

Safe Harbor Statements

This press release contains forward-looking statements.  These statements constitute forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995.  These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements.  Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements.  Potential risks and uncertainties include, but are not limited to, our limited operating history, our ability to develop and operate new games that are commercially successful, the growth of the online game market and the continuing market acceptance of our games and in-game items in China and elsewhere, our ability to protect our intellectual property rights, our ability to respond to competitive pressure, our ability to maintain an effective system of internal control over financial reporting, changes of the regulatory environment in China, and economic slowdown in China and/or elsewhere.  Further information regarding these and other risks is included in Perfect World's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F.  Perfect World does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.