Yucheng Technologies Limited's Independent Committee Appoints Financial Advisor and Legal Counsel to Evaluate Non-binding "Going Private" Proposal

Yucheng Technologies Limited

today announced that the Independent Committee of the Company's board of directors (the "Independent Committee") has appointed Roth Capital Partners, LLC as its financial advisor and Cleary Gottlieb Steen & Hamilton LLP as its United States legal counsel. As previously announced, the Company's board of directors formed the Independent Committee to review and evaluate the May 21, 2012 non-binding proposal from its chairman and chief executive officer, Mr. Weidong Hong, to acquire all of the outstanding shares of the Company not currently owned, legally or beneficially, by Mr. Hong and companies controlled by Mr. Hong. The Independent Committee is considering Mr. Hong's proposal. The Independent Committee has not set a definitive timetable to complete its evaluation of Mr. Hong's proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed, that the Independent Committee will recommend Mr. Hong's proposal or that this or any other transaction will be approved or consummated.