UTStarcom Shareholders Approve One-for-Three Reverse Share Split

UTStarcom Holdings

today announced the official results of its extraordinary meeting of shareholders, held on March 21, 2013 at 1:00 p.m. local time in Beijing, China. The shareholders cast their votes as described below: 1. The shareholders approved, effective as of 4:30 p.m. Eastern Standard Time on March 21, 2013, as an ordinary resolution, in accordance with Article 49 of the Company's Amended and Restated Memorandum and Articles of Association, that the authorized share capital of the Company be amended by the consolidation of the existing 750,000,000 Ordinary Shares of US$0.00125 par value each into 250,000,000 Ordinary Shares of US$0.00375 par value each, such that: (i) the authorized share capital of the Company is amended to US$943,750 divided into 250,000,000 Ordinary Shares of a par value of US$0.00375 each and 5,000,000 Preference Shares of a par value of US$0.00125 each; (ii) each existing issued 3 Ordinary Shares of US$0.00125 par value each be consolidated into 1 Ordinary Share of US$0.00375 par value each and the register of members of the Company be updated accordingly; and (iii)