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Hurray! Announces Completion of Merger with Ku6 and Appointment of New Board Members

BEIJING -- Hurray! Holding Co., Ltd. (Nasdaq: HRAY), a leading company in artist development, music production and wireless music distribution and other wireless value-added services in China, today announced the successful completion, effective January 18, 2010, of the previously announced merger with Ku6 Holding Limited ("Ku6"), pursuant to the Share Purchase Agreement by and among Hurray!, Ku6 and the shareholders of Ku6 dated as of November 26, 2009.

Following the completion of this merger, the Company is pleased to announce the appointment of Mr. Danian Chen and Mr. Shanyou Li to the Hurray! Board of Directors, effective January 19, 2010.

Mr. Danian Chen has served as chief operating officer of Shanda Interactive Entertainment Limited ("Shanda") since April 2008 and as a director since 1999. Previously, he served as Shanda's director of products, vice president, senior vice president, and executive senior vice president. Prior to joining Shanda, he held various positions with Xinghui International Transport Company, Haijie Shipping Agency Company, and Jinyi Network Company from 1996 to 1999.

Mr. Shanyou Li is the Founder and Chief Executive Officer of Ku6. From 2000 to 2006, Mr. Li served in various senior management positions with Sohu.com. Prior to that, Mr. Li worked for Motorola, Alcoa Group and Bausch & Lomb. Mr. Li holds a bachelor's degree in mathematics from Nankai University and an EMBA from China Europe International Business School.

About Hurray! Holding Co., Ltd.

Hurray! is a leading company in artist development, music production and offline distribution in China through its record labels Huayi Brothers Music, Freeland Music, New Run Entertainment, Secular Bird and Seed Music. The Company, through Fly Songs, also organizes concerts and other music events in China.

Hurray! is also a leading online distributor of music and music-related products such as ringtones, ringbacktones, and truetones to mobile users in China through the full range of wireless value-added services platforms over mobile networks and through the internet.

The Company also provides a wide range of other wireless value-added services to mobile users in China, including games, pictures and animation, community, and other media and entertainment services.

About Ku6

Founded in June 2006, Ku6.com is a web2.0-based online video website and has quickly become one of the leading online video portals in China. In June 2008, Ku6 was the first privately held video portal to receive a License for Internet Broadcasting Audio-Visual Programs issued by the State Administration for Radio, Film and Television (the "SARFT"). After that, Ku6 was awarded by CCTV, China's national broadcaster, the rights to provide VOD services on the 2008 Beijing Olympic Games using CCTV's video images, as the first one amongst all online video portals. Ku6 received its first round of venture funding in 2007 and second round of venture funding in 2008, which were led by Draper Fisher Jurvetson (DFJ) and DT Capital Partners, UMC Capital and SBI Broadband Fund respectively.

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