KongZhong Announces Management Change

(Business News & Technology News, 18 Aug 2008)

KongZhong Corp.'s Yunfan Zhou, a co-founder of the company, has notified the company's Board of Directors of his intention to resign from his position as the Chief Executive Officer, effective October 13, 2008, for personal reasons. Zhou will continue to serve as the Chairman of the Board. Nick Yang, co-founder of the company with Zhou, will continue to serve in all of his current positions at the company, as Director, President and Chief Technology Officer. In addition, the Board has elected Yang as the Vice Chairman of the Board, effective immediately. The Company is currently considering a number of strong candidates for the CEO position and anticipates a smooth transition.

"In the past six years, Nick and I have led the company in its growth into a leading wireless value-added services and wireless media company in China," says Zhou. "I am very proud of what we have achieved, and this success simply would not have been possible without a team of talented, experienced and dedicated management personnel and employees and the steady support and guidance we received from the Board. However, I believe this is the right moment for me to transition to a less active role with the company in order to spend more time with my family and on other personal interests, which I have not been able to do in light of my daily responsibilities at the company."

"On behalf of the company, I would like to express deep appreciation for the leadership, dedication and vision that Yunfan, my co-founder, has brought to this remarkable enterprise. During his tenure as KongZhong's CEO, Yunfan has helped us achieve important milestones of good management and strategic positioning. We are confident about the future of both our wireless value-added services and our wireless Internet business, and are delighted that Yunfan will stay on as the Chairman of our Board. I will work with the Board, our management team and all of our employees to ensure a successful, smooth leadership transition and maintain continuity in the relationships we have all worked hard to cultivate with telecommunications operators and our customers," says Yang.