Hurray! News
Hurray! Announces Appointment
of New Independent Director
BEIJING, February 16, 2006/Xinhua-PRNewswire/ -- Hurray! Holding Co.,
Ltd. (Nasdaq: HRAY - News), a leader in advanced wireless value-added
services, digital music production and distribution, and mobile telecommunication
network software in the People’s Republic of China, today announced
that its Board of Directors has appointed Mr. Suberna Shringla as
an independent director on the company’s board of directors. He replaces
Daniel Auerbach, who has resigned for personal reasons, effective
immediately.
Mr. Suberna Shringla is the founding partner of Team Ventures,
which is a boutique Corporate Finance Advisory firm focused on Media
and Communications. Additionally, He was previously Director of
TMT Corporate Finance at SG Cowen Asia Pacific, Head of Business
development at Turner Broadcasting Services International Asia Pacific,
and Walt Disney Studios. Mr. Shringla graduated from St. Stephens
College, Delhi with Bachelor’s degree in History and Economics and
received M.B.A. from ENPC Paris.
Commenting on this event, Hurray!’s Chairman and Chief Executive
Officer, QD Wang, said “We are very pleased to welcome Suberna to
the board. We believe that Suberna will add great value to the Company
with his expertise and experience in the media industry. ”
Commenting on Mr. Daniel Auerbach’s resignation, Mr. Wang said,
“We are grateful for Daniel’s contribution to the Company’s growth
and success in the past three years.”
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! focuses on digital music
production and distribution.
Hurray! also 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: any uncertainties associated with Mr.
Suberna Shringla joining our board of directors; Hurray!'s ability
to maintain its leading position in the market for wireless value-added
services in China, including its ability to anticipate or address
changes in technologies and user preferences in an effective and
timely manner; the risk that Hurray's profitability may be adversely
affected in future periods for a variety of reasons, many of which
may be beyond management's control; 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.
For more information, please contact:
Phoebe Meng
Investor Relations Manager
Tel: 8610-6518-8989 x 6806
yfmeng@hurray.com.cn
SOURCE: Hurray! Holding Co., Ltd.
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