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

today announced that it has entered into an Agreement and Plan of Merger, dated December 28, 2011 with China Real Estate Information Corporation

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.