NQ Mobile Confirms Formation of Special Committee

NQ Mobile

, a leading global provider of mobile Internet services, announced that the Company's board of directors today formed an independent special committee to conduct an independent review of the allegations raised in a report issued by Muddy Waters dated October 24, 2013. The special committee is comprised of four independent directors of the Company, Ms. Ying Han and Messrs. William Tiewei Li, Xiuming Tao and Jun Zhang, with Ms. Han being the chairwoman of the committee. The committee is authorized to retain independent advisors in connection with its investigation. As previously stated, NQ Mobile believes that the Muddy Waters report contains numerous errors of fact, misleading speculations and malicious interpretations of events. Nevertheless, in order to provide the highest level of transparency to its shareholders, the board of directors of the Company has formed the independent special committee to review the allegations, and management will fully cooperate with the committee in the investigation.