CDC Corporation to Continue Share Repurchase Initiative
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CDC Corporation Intends to Implement a New 10b5-1 Trading Plan and China.com Minority Shareholders to Vote on Repurchase of up to $10 Million of CDC Shares
BEIJING, ATLANTA, May 22, 2008 - CDC Corporation (NASDAQ: CHINA), a leading global enterprise software and new media company, today announced its intent to implement a new 10b5-1 trading plan to repurchase additional CDC shares after the company's trading window opens. Additionally, China.com, a majority-owned subsidiary of CDC Corporation, has recommended that its minority shareholders approve a plan to acquire up to (U.S.)$10 million of CDC shares. The shareholder vote is expected to take place on Tuesday, May 27, 2008. Also during 2008, China.com has repurchased approximately 19.6 million of its own shares, which trade on the Growth Enterprise Market of the Stock Exchange of Hong Kong. Shares of CDC Corporation that are purchased by its subsidiaries are not included as part of the company's authorized repurchase program.
Since January 1 2008, CDC Corporation management has purchased a net amount of approximately 319,112 shares of the company.
"As we have said before, we believe our shares are undervalued by the investment community," said Peter Yip, CEO of CDC Corporation. "These share repurchase initiatives demonstrate our confidence in our strategy for the company and our future. We have successful and diverse businesses which we believe have achieved critical mass with stable, recurring revenues. As a result, we believe we are well positioned and looking to grow and take advantage of market opportunities as economic conditions improve."
About CDC Corporation
The CDC family of companies includes CDC Software focused on enterprise software applications and services, CDC Games focused on online games, and China.com focused on portals for the greater China markets. For more information about CDC Corporation (NASDAQ: CHINA), please visit www.cdccorporation.net.
About China.com Inc.
China.com is a leading operator of Internet portals, serving a broad range of audiences in China. In 2006, it was chosen as the first company to host Google's Video Adsense which serves video ads targeted at China's English-speaking audience. China.com also was appointed by the Jilin government as the exclusive web sponsor of the 2007 Asian Winter Games. China.com was listed on the GEM of the Stock Exchange of Hong Kong Limited on March 9, 2000. In December 2000, China.com Inc. was admitted as a constituent stock of the Hang Seng IT and IT Portfolio Indices.
About CDC Software
CDC Software, The Customer-Driven Company(TM), is a provider of enterprise software applications designed to help organizations deliver a superior customer experience while increasing efficiencies and profitability. CDC Software's product suite includes: CDC Factory (manufacturing operations management), Ross ERP (enterprise resource planning) and SCM (supply chain management), CDC Supply Chain (supply chain management, warehouse management and order management), Pivotal CRM and Saratoga CRM (customer relationship management), CDC MarketFirst (marketing automation and lead management), Respond (customer complaint and feedback management), c360 CRM add-on products, industry solutions and development tools for the Microsoft Dynamics CRM platform, Platinum HRM (human resources) and business analytics solutions.
These industry-specific solutions are used by more than 6,000 customers worldwide within the manufacturing, financial services, health care, home building, real estate, and wholesale and retail distribution industries. The company completes its offerings with a full continuum of services that span the life cycle of technology and software applications, including implementation, project consulting, outsourced business services, application management and offshore development. CDC Software is the enterprise software unit of CDC Corporation (NASDAQ: CHINA) and is ranked number 12 on the MBT 2007 Global 100 List of Enterprise and Supply Chain Management Application vendors. For more information, please visit www.cdcsoftware.com.
About CDC Games
CDC Games is one of the market leaders of online and mobile games in China with more than 140 million registered users. The company pioneered the "free-to-play, pay-for-merchandise" online games model in China with Yulgang and launched the first free-to-play, pay for merchandise FPS (first person shooter) game in China with Special Force. Launched in July 2007, Special Force has consistently ranked in the Top 10 downloaded games in China and becoming the top revenue producer for CDC Games. Currently, CDC Games offers six popular MMO online games in China that include: Special Force, Yulgang, Shaiya, Mir III, Shine and Eve Online. In March 2007, the company announced the formation of CDC Games Studio to establish strategic relationships with selected games development partners to accelerate the development of new, original online games for China and other targeted global geographies. Through its CDC Games International (CGI) subsidiary, the company launched a long-term strategy to be a global publisher of MMO games. As part of this long-term strategy, CDC Games launched the 12FootTall.com portal to showcase online games and related content in North America. For more information on CDC Games, visit: www.cdcgames.net.
For further information, please contact:
Media Relations
Scot McLeod
CDC Software
770-351-9600
Email: ScotMcLeod@cdcsoftware.com
Investor Relations
Monish Bahl
CDC Corporation
678-259-8510
Email: MonishBahl@cdcsoftware.com
