Hurry Invests USD 3M in Taiwanese Music Company

Hurray Press Release, 9/24/08

Chinese wireless value-added service (WVAS) provider, artist developer, and music production firm Hurray (Nasdaq: HRAY) has officially announced the signing of an agreement to invest USD 2.994 mln in cash for a 61.08% stake in Taiwanese music production firm Seed Music Group Limited. Hurray expects the transaction to close before October 30, 2008.

Seed Music, which focuses on artist development, music production and offline music distribution in Greater China, is the label for such popular singers as Kenji Wu Ke Qun, and Guang Liang.

China eCapital served as financial advisor to Hurray in the transaction.

Keywords: China eCapital HRAY Hurray music Seed Music wireless WVAS investment SP

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