E-House Enters into Definitive Agreement to Acquire all Outstanding Shares of CRIC for $1.75 cash and 0.6 E-House shares

E-House (China) Holdings Limited (NYSE: EJ) today announced that it has entered into an Agreement and Plan of Merger, dated December 28, 2011 with China Real Estate Information Corporation (NASDAQ: CRIC) and CRIC (China) Holdings Limited. Pursuant to the Merger Agreement, E-House will acquire through a merger all the outstanding shares of CRIC that are not owned by E-House for a fixed consideration consisting of $1.75 cash and 0.6 E-House shares / American depositary shares for each CRIC share. E-House increased the cash portion of the consideration to $1.75 from the $1.60 initially proposed to the board of directors of CRIC and publicly announced on October 28, 2011.

E-House is the majority shareholder of CRIC, owning approximately 54.1% of CRIC's total outstanding shares. Merger Sub is a newly formed company with limited liability incorporated under the laws of the Cayman Islands and a direct wholly-owned subsidiary of E-House. Upon the successful consummation of the Transaction, Merger Sub will be merged with and into CRIC and CRIC will become a wholly-owned subsidiary of E-House. E-House intends to fund the Transaction through its cash and cash equivalents on hand, including funds held by CRIC.