Hurray! Holding Co., Ltd. Appoints Citigroup Depositary for Nasdaq Listed ADR Program

New York, February 9, 2005 – Citigroup Depositary Receipt Services, the leading depositary bank, announced today that it has established an American Depositary Receipt (ADR) program for Hurray! Holding Co., Ltd. (Hurray!), a leading provider of wireless value added services in China. The company is headquartered in Beijing, China.

The ADRs are now listed on the Nasdaq under the symbol HRAY (CUSIP 447773 10 2). Each Nasdaq traded ADS represents 100 ordinary shares.

“We look forward to supporting Hurray! Holding Co., Ltd. as the company expands its visibility and reach among U.S. investors,” said Sanjeev Nanavati, Managing Director of Citigroup Depositary Receipt Services.

“The Nasdaq listed ADR program will be an important step forward for Hurray! as we look to expand access to investors in the world’s largest capital market. We are committed to uphold the highest standards for our customers and shareholders,” said Jesse Liu, Chief Financial Officer of Hurray! Holding Co., Ltd.

Hurray! Holding Co., Ltd. (Hurray!) provides wireless value-added services for mobile phones and related software technologies in China. The company is one of the market leaders in terms of revenue in providing Wireless Application Protocol, or WAP, services over China's 2.5G networks. WAP is the predominant 2.5G service available in China and enables mobile phone users to directly access, browse, search and download content through their mobile phones, using WAP portals provided by the mobile operators. Hurray! also provides 2G services such as short messaging services, or SMS, and interactive voice response services, or IVR. Additionally, the company designs, develops, sells and supports a services provisioning and management software platform called VASPro, and is the sole provider to China Unicom for its nationwide WAP portal. For further information, visit

For background on Citigroup ADR programs as well as industry trends and developments, visit


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Citigroup Depositary Receipt Services is a leader in bringing quality issuers to the U.S. market and promoting American Depositary Receipts (ADRs) as an effective capital markets tool. Citibank began offering ADRs in 1928 and today is widely recognized for providing non-U.S. companies with a gateway to the resources of Citigroup and the means to diversify shareholder bases and increase liquidity. In addition, Citigroup’s financial strength and global reach provide clients with access to Citigroup's on-the-ground presence and in-depth knowledge of 90 local markets.
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