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eLong Enters into Definitive Merger Agreement for Going Private Transaction for $18.00/ADS in Cash

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eLong, Inc. (NASDAQ: LONG) today announced that it has entered into a definitive Agreement and Plan of Merger (the "Merger Agreement") with China E-dragon Holdings Limited ("Parent") and China E-dragon Mergersub Limited, a wholly owned subsidiary of Parent, pursuant to which Parent will acquire eLong. At the closing of the transaction, Parent will be owned by a consortium of certain of the Company's existing shareholders (including C-Travel International Limited, TCH Sapphire Limited, Ocean Imagination L.P. and Luxuriant Holdings Limited), along with Seagull Limited and certain management members of eLong (the "Buyer Group").

Under the terms of the Merger Agreement, eLong shareholders other than those in the Buyer Group will receive US$9.00 in cash for each ordinary share of the Company (a "Share") they hold or US$18.00 in cash for each American Depositary Share, each representing two (2) Shares (an "ADS") they hold. The price represents a premium of approximately 24% to the closing trading price of the Company's ADS on July 31, 2015, the last trading day prior to August 3, 2015, the date that the Company announced that it had received

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