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CDC Corporation and Executives Plan Additional Share BuybackCDC Corporation, its Subsidiaries and Executives Purchased 4.8 Million Shares During 2007BEIJING, ATLANTA, April 29, 2008 - CDC Corporation (NASDAQ: CHINA) focused on enterprise software and online games, announced today that the company and its subsidiaries purchased a total of approximately 3.0 million shares during 2007 at an average price of approximately $6.31 per share. After accounting for these and other previous purchases, the company has approximately $8.5 million remaining in its $60.0 million share repurchase plan. Also during 2007, directors and officers purchased a net amount of approximately 1.8 million shares.
During Q4 2007 and Q1 2008, directors and officers purchased a net amount of approximately 742,137 shares, and the company and its subsidiaries purchased approximately 426,000 shares at an average price of approximately $5.98.
"In light of the growth prospects and position of our core businesses, we believe CDC is undervalued," stated Peter Yip, CEO of CDC Corp. "The share purchases demonstrate the confidence we have in CDC's strategy and prospects. Our software business has leading vertical applications and a comprehensive services suite. We are seeing solid trends in our services revenue and installed-base purchases, and we have recently implemented cost control initiatives. CDC Games is one of the leading global online games companies and is poised for its third quarter of strong sequential growth. To further emphasize our confidence, CDC and I are establishing new 10b5-1 trading programs to continue share purchases. Furthermore, our majority-owned subsidiary, China.com, is seeking shareholder approval to purchase $10.0 million of CDC shares."
About CDC CorporationThe 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 SoftwareCDC Software, The Customer-Driven Company™, 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 GamesCDC Games is one of the market leaders of online and mobile games in China with more than 120 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. CDC Games anticipates being able to deploy up to $100 million for CDC Games Studio investments through contributions from CDC affiliated companies, external partners and its internal resources. Through its CDC Games International (CGI) subsidiary, the company launched Minna de Battle in Japan in December 2007, and 16pounds in Thailand in January 2008. In February 2008, CDC Games USA launched the www.12FootTall.com portal to showcase online games in North America, sell virtual merchandise and promote collaboration among players. Also in February 2008, CGI launched Lunia, its first game in North America, and is planning several new games for Southeast Asia, further strengthening its position as a global publisher of online games. For more information on CDC Games, visit: www.cdcgames.net. For further information, please contact:
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