Shanda Interactive Entertainment Limited Enters into Definitive Agreement with Premium Lead Company Limited and New Era Investment Holding for Going Private Transaction for $20.675 per Share

Shanda Interactive Entertainment Limited, incorporated in the Cayman Islands

announced today that it has entered into an Agreement and Plan of Merger, dated November 22, 2011 with Premium Lead Company Limited and New Era Investment Holding Ltd. pursuant to which Parent will acquire Shanda for US$20.675 per ordinary share or US$41.35 per American Depositary Share, each representing two ordinary shares. This represents a 26.6% premium over the Company's 30 trading day volume-weighted average price as quoted by NASDAQ on October 14, 2011, the last trading day prior to the Company's announcement on October 17, 2011 that it had received a "going private" proposal. The Transaction values Shanda's equity at approximately US$2.3 billion on a fully diluted basis.