Shanda Shares Distributed By SB Asia Infrastructure Fund L.P.

Shanda Shares Distributed By SB Asia Infrastructure Fund L.P. SHANGHAI, China, Jan. 19 /Xinhua-PRNewswire/ -- On January 12, 2005, SB Asia Infrastructure Fund L.P. made a distribution of 20,600,000 ordinary shares of Shanda Interactive Entertainment Limited (NASDAQ:SNDA), which is equivalent to 10,300,000 American depositary shares, to its direct and indirect partners, Cisco Systems, Inc., SB Asia Pacific Investments Limited, an indirect subsidiary of Softbank Corporation, and SAIF Partners LP. Prior to the distributions, SB Asia Infrastructure Fund L.P. held Shanda ordinary shares in an amount equal to 10,628,749 ADSs, which was equivalent to approximately 15.2% of Shanda's issued and outstanding ordinary shares. On the date of the distribution, the lock up agreement entered into by SB Asia Infrastructure Fund L.P. in connection with Shanda's issuance of $275 million zero coupon senior convertible notes due 2014 and Shanda's repurchase of shares from SB Asia Infrastructure Fund L.P., expired. Following such distribution, SAIF Partners LP filed a Form 144 with the U.S. Securities and Exchange Commission announcing its intention to sell all of the ordinary shares, equivalent to 1,110,630 ADSs or 1.6% of Shanda's issued and outstanding ordinary shares, that it received in such distribution. We are not aware of any other sale of Shanda ordinary shares by our principal shareholders, directors or executive officers since the date of the lock up expiration. Shanda's principal shareholder, Skyline Media Limited, which is 100% owned by Shanda's founders, holds approximately 60.4% of Shanda's issued and outstanding shares. About Shanda Interactive Entertainment Limited Shanda Interactive Entertainment Limited (NASDAQ:SNDA) is the largest operator of online games in China. Shanda offers a portfolio of massively multi-player and casual online games that users play over the Internet, including several of the most popular online games in China. Shanda's game platform attracts a large and loyal user base, each member of which can interact with thousands of others, which creates a strong community among users. For more information about Shanda, please visit http://www.snda.com/ . Source: Shanda Interactive Entertainment Limited CONTACT: Donglei Zhou of Shanda, +86-21-5050-4740, or IR@shanda.com.cn; or Todd St.Onge of Brainerd Communicators, Inc., +1-212-986-6667, or stonge@braincomm.com, for Shanda Web Site: http://www.snda.com/ ------- Profile: International Entertainment