Hurray! Awarded a Contract to Develop Application Software for China Telecom's Future 3G Portal

BEIJING, Sept. 14 -- Hurray! Holding Co., Ltd. , a leader in artist
development, music production, wireless music distribution, and other
wireless value-added services in China, today announced that it has
been awarded a contract by China Telecom to design, develop, sell and
support an application software for China Telecom's future nation-wide
3G portal.

Commenting on this event, Hurray!'s Chairman and Chief
Executive Officer, QD Wang, said, ''We are pleased to win this software
contract which will utilize our significant technical expertise, and we
believe this contract will further strengthen our strategic
relationships with China Telecom.''

About Hurray! Holding Co., Ltd.
Hurray! is a leader in
artist development, music production and offline distribution in China
through its record labels Huayi Brothers Music, Freeland Music, New Run
Entertainment, and Secular Bird.

Hurray! is also a leading online distributor of music and music-related
products such as ringtones, ringbacktones, and truetones to mobile
users in China through the full range of wireless value-added services
platforms over mobile networks and through the internet.
The Company also provides a wide range of other wireless value-added
services to mobile users in China, including games, pictures and
animation, community, and other media and entertainment services. The
Company has further expanded its reach through a new venture with
Beijing TV Media, the new media channel of Beijing TV, to provide
mobile interactive services for all Beijing TV programs.

Forward-looking Statements
This press release contains statements of a forward-looking nature.
These statements are made under the "safe harbor" provisions of the
U.S. Private Securities Litigation Reform Act of 1995. You can identify
these forward- looking statements by terminology such as "will,"
"expects," "anticipates," "future," "intends," "plans," "believes,"
"estimates" and similar statements. The accuracy of these statements
may be impacted by a number of business risks and uncertainties that
could cause actual results to differ materially from those projected or
anticipated, including: the risk that Hurray! cannot maintain the
relations with China Telecom; the risk that this or any future
cooperation will not create the operational and financial results that
the management and board of directors of Hurray! expect; the risk that
this and any future partnership could divert management's attention
from Hurray!'s operations, which could adversely affect its results of
operations; and the risks outlined in our filings with the Securities
and Exchange Commission, including our registration statement on Form
F-1. We do not undertake any obligation to update this forward-looking
information, except as required under applicable law.