Hurray! News

Hurray! Reports First Quarter 2006 Financial Results

BEIJING, May 18, 2006 /Xinhua-PRNewswire/ -- Hurray! Holding Co., Ltd. (Nasdaq: HRAY - News), a leader in wireless music distribution and other wireless value-added services, artist development and music production, and wireless value-added services management software in China, today announced its unaudited financial results for the first quarter ended March 31, 2006.

FINANCIAL HIGHLIGHTS:

 Total revenues: $16.6 million, growth of 3.9% quarter-over-quarter and 11.4% year-over-year
 Wireless value-added services revenues: $14.5 million, decline of 0.8% quarter-over-quarter and growth of 11.8% year-over-year
 Software and system integration services revenues: $0.6 million, decline of 54.6% quarter-over-quarter and 67.3% year-over-year
 Recorded music revenues, which are from the Company's new music development, production and distribution business: $1.5 million
 Net income: $0.9 million, decline of 69.3% quarter-over-quarter and 83.5% year-over-year
 Adjusted EBITDA (a non-GAAP measure which is defined as earnings before interest, tax, depreciation, amortization and stock-based compensation): $1.6 million, decline of 43.7% quarter-over-quarter and 75.7% year-over-year
 Diluted earnings per ADS: $0.04

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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.