Mecox Lane's Board of Directors Establishes Special Committee to Evaluate Non-Binding 'Going Private' Proposal

Mecox Lane Limited

today announced that its board of directors has established a special committee of independent, disinterested directors to consider the non-binding proposal letter dated July 21, 2015 from CNshangquan Limited and Leading Capital Co. Ltd. (the to acquire all of the outstanding shares of the Company (including shares represented by American depositary shares, or "ADS," with each ADS representing 35 ordinary shares of the Company) not already owned by the Consortium Members in a "going private" transaction. The Special Committee is comprised of independent directors Mr. Xiongsheng Yang and Mr. Xiaohua Li. Mr. Yang will serve as the chairperson of the Special Committee. The Special Committee intends to retain legal and financial advisors to assist it in evaluating the Proposal. The Board cautions the Company's shareholders and others considering trading its securities that no decisions have been made by the Special Committee or the Company with respect to the Company's response to the Proposal. There can be no assurance that any definitive offer will