E-House Announces ADS Purchase Plan by Executive Chairman
Shanghai, China, June 22, 2011 ¡ª E-House (China) Holdings Limited (¡°E-House¡± or the ¡°Company¡±) (NYSE: EJ), a leading real estate services company in China, announced today that Mr. Xin Zhou, a major shareholder and executive chairman of the Company, intends to use his personal funds to purchase up to an aggregate of US$10 million of E-House¡¯s American depositary shares ("ADSs") in open market transactions within the next 12 months.
Mr. Zhou said, "My plan to purchase ADSs of E-House is based on my belief that the Company¡¯s shares are presently undervalued. Despite the challenging real estate market conditions we are experiencing now, I am confident in the strong fundamentals and long-term prospects of the real estate industry in China and the ability of E-House to execute its business strategies and generate long-term value for its shareholders.¡±
The ADS purchases will be made subject to applicable legal restrictions and other factors and in a manner consistent with E-House¡¯s securities trading policies and applicable securities laws.
E-House (China) Holdings Limited (¡°E-House¡±) (NYSE: EJ) is China¡¯s leading real estate services company with a nationwide network covering more than 140 cities. E-House offers a wide range of services to the real estate industry, including primary sales agency, secondary brokerage, information and consulting, online, advertising, promotional events and investment management services. The real estate information and consulting, online, advertising and promotional events services are offered through E-House¡¯s majority owned subsidiary, China Real Estate Information Corporation (NASDAQ: CRIC). E-House has received numerous awards for its innovative and high-quality services, including ¡°China¡¯s Best Company¡± from the National Association of Real Estate Brokerage and Appraisal Companies and ¡°China Enterprises with the Best Potential¡± from Forbes. For more information about E-House, please visit http://www.ehousechina.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the ¡°safe harbor¡± provisions of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by terminology such as ¡°will,¡± ¡°expects,¡± ¡°anticipates,¡± ¡°future,¡± ¡°intends,¡± ¡°plans,¡± ¡°believes,¡± ¡°estimates,¡± ¡°may,¡± ¡°intend,¡± ¡°confident,¡± ¡°is currently reviewing,¡± ¡°it is possible,¡± ¡°subject to¡± and similar statements. Among other things, quotations from E-House¡¯s management in this announcement contain forward-looking statements. Statements that are not historical facts, including statements about E-House¡¯s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding these and other risks is included in the annual reports on Form 20-F and other documents filed with the Securities and Exchange Commission. E-House undertakes no obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release is as of the date of the press release, and E-House undertakes no duty to update such information, except as required under applicable law.
For Investor and Media Inquiries:
Manager, Investor Relations
E-House (China) Holdings Limited
Phone: +86 (21) 6133-0770
Ogilvy Financial, Beijing
Phone: +86 (10) 8520-6284
Jessica Barist Cohen
Ogilvy Financial, New York
Phone: +1 (646) 460-9989