Hurray! News

Hurray! Signs Licensing Agreements with Three Record Companies

BEIJING, China -- /Xinhua-PRNewswire/ -- March 16, 2005 -- Hurray! Holding Co., Ltd. (Nasdaq: HRAY), a provider of advanced wireless value-added services and mobile telecommunication network software in China, announced on March 15 the signing of agreements with three record companies: Warner Music, EMI and Ocean Butterflies Music. Under these agreements, Hurray! will be able to offer music from the libraries of all three companies in its Color Ring Back Tone (CRBT) services and to offer the music from Warner Music and Ocean Butterflies Music in its Interactive Voice Response (IVR) services.

Hurray! also announced today that it has acquired the exclusive right to distribute a song called “Spy Xiao Qiang” in its wireless value-added services. It is thus far one of the most popular songs distributed through the Internet in China in 2005. Hurray! intends to use this song in its WAP, CRBT, IVR and Multimedia Messaging Services (MMS) services.

Commenting on these new agreements, Hurray!’s Chairman and Chief Executive Officer, Qindai Wang, said, “We are very pleased to have the opportunity to partner with Warner Music, EMI and Ocean Butterflies Music. These copyright licensing activities will greatly enrich the content of our services, and we believe that they will help enhance our competitiveness in the wireless value-added services market, especially in the growing market for interactive music entertainment. We also expect that the current strong popularity of "Spy Xiao Qiang" in China will not only create interest in our services that feature that song, but will also generate customer interest for our other music services.”

About Hurray! Holding Co., Ltd.
Hurray! provides wireless value-added services such as ringtones, picture downloads, community and entertainment services to mobile users in China. The company is one of the market leaders in providing these services using wireless application protocol, commonly referred to as WAP, in China. WAP services are offered through the advanced 2.5G mobile networks, the most advanced broadly available mobile networks deployed in China. Hurray! also offers these services through 2G mobile networks.
In addition, Hurray! designs, develops, sells and supports a service provisioning and management software that is used by China Unicom, one of the two principal mobile operators in China, to support its 2.5G services platform.

Forward-looking Statements:

This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "will," "expects," "believes" and similar statements. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks related to: the risk that Hurray! may not be able to develop services incorporating the songs of its content partners which are timely and attractive to China's mobile phone users; uncertainty regarding the future level of consumer demand for wireless music services in China; the possibility that "Spy Xiao Qiang" and the other songs licensed from Hurray!'s content partners will not be as popular among China's mobile phone users as management expects; Hurray!'s ability to maintain its relationships with Warner Music, EMI, Ocean Butterflies Music and its other content partners; continued competitive pressures in China's wireless value-added services market; changes in technology and consumer demand in this market; the state of Hurray!'s relationships with China's mobile operators; and other risks outlined in Hurray!'s filings with the Securities and Exchange Commission, including its registration statement on Form F-1, as amended. Hurray! does not undertake any obligation to update this forward-looking information, except as required under applicable law.