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The9 Limited Announces an Amendment to its Shareholder Rights Plan

2009-03-10 00:37 1053

SHANGHAI, March 10 /PRNewswire-Asia-FirstCall/ -- The9 Limited

(Nasdaq: NCTY) (“The9”), a leading online game operator and developer in China, today announced that its Board of Directors has adopted an amendment to its shareholder rights plan. The rights plan, initially adopted on January 8, 2009, is designed to protect the best interests of The9 and its shareholders. The amendment to the rights plan, among other things, increases the exercise price for each ordinary share pursuant to the exercise of a right from US$14.50 to US$19.50.

One right was distributed with respect to each ordinary share of The9 outstanding at the close of business on January 22, 2009. The rights will become exercisable only if a person or group (the “Acquiring Person”) obtains ownership of 15% or more of The9’s voting securities (including by acquisition of The9’s American Depositary Shares representing ordinary shares) (a “Triggering Event”), subject to certain exceptions. In the case of a Triggering Event, The9’s rights plan entitles shareholders other than the Acquiring Person to purchase, for an exercise price of US$19.50, a number of shares with a value twice that of the exercise price. The number of shares each such shareholder will be entitled to purchase is equal to the product of (i) the number of shares then owned by such shareholder and (ii) two times the exercise price divided by the then current market price per share. As a result of the amendment to the rights plan, for a given per share value, the increased exercise price entitles holders of the rights, other than the Acquiring Person, to purchase more shares than previously permitted when exercising their rights. The rights plan will continue in effect until January 8, 2019, unless the plan is terminated by The9 or the rights are redeemed by The9 before the plan expires.

About The9 Limited

The9 Limited is a leading online game operator and developer in China. The9’s business is primarily focused on operating and developing high-quality games for the Chinese online game market. The9 directly or through affiliates operates licensed MMORPGs, consisting of MU(R), Blizzard Entertainment(R)’s World of Warcraft(R), Soul of The Ultimate Nation(TM), Granado Espada, and its first proprietary MMORPG, Joyful Journey West(TM), in mainland China. It has also obtained exclusive licenses to operate additional MMORPGs and advanced casual games in mainland China, including EA SPORTS(TM) FIFA Online 2, Audition 2, Atlantica, Hellgate: London, Ragnarok Online 2, Emil Chronicle Online, Huxley(TM) and Field of Honor. In addition, The9 is also developing various proprietary games, including Warriors of Fate Online(TM) and others.

For further information, please contact:

Ms. Phyllis Sai

IR Manager, Investor Relations

The9 Limited

Tel: +86-21-5172-9990

Email: IR@corp.the9.com

Web: http://www.corp.the9.com/

Source: The9 Limited
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