SHANGHAI, June 22, 2011 /PRNewswire-Asia-FirstCall/ --
China Real Estate Information Corporation ("CRIC" or the "Company")
(NASDAQ: CRIC), a leading provider of real estate information,
consulting and online services in China, announced today that Mr. Xin Zhou, co-chairman and chief executive
officer of the Company, intends to use his personal funds to
purchase up to an aggregate of US$10
million of CRIC's American depositary shares ("ADSs") in
open market transactions within the next 12 months.
Mr. Zhou said, "My plan to purchase CRIC's ADSs is based on my
belief that the Company's shares are presently undervalued. Despite
the challenging real estate market conditions, CRIC is on track to
deliver strong, consistent growth by leveraging its real estate
database and portal and search-based online advertising models to
gain market share. I am confident in CRIC's ability to execute its
business strategies and continue its solid organic growth while
capitalizing on new initiatives, such as the launch of its real
estate e-commerce business and extended strategic partnership with
Baidu, Inc., to 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
CRIC's securities trading policies and applicable securities
laws.
About CRIC
China Real Estate Information Corporation ("CRIC") (NASDAQ:
CRIC) is a leading provider of real estate information, consulting
and online services with a presence in over 140 cities across
China. CRIC, a subsidiary of
E-House (China) Holdings Limited
(NYSE: EJ), merged with the online real estate business of SINA
Corporation (NASDAQ: SINA) upon the completion of CRIC's initial
public offering and listing of its ADSs on the NASDAQ Global Select
Market in October 2009. Leveraging
its proprietary, advanced and comprehensive real estate information
database and analysis system, CRIC provides a broad range of real
estate-related services to all participants in the real estate
value chain, including developers, suppliers, agents, brokers,
service providers and individual consumers. CRIC's services include
subscription-based information services, customized consulting
services and online services through several real estate websites
that provide region-specific real estate information and access to
online communities. For more information about CRIC, please visit
http://www.cric.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 CRIC's management
in this announcement contain forward-looking statements. Statements
that are not historical facts, including statements about CRIC'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. CRIC 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 CRIC
undertakes no duty to update such information, except as required
under applicable law.
For Investor and Media Inquiries:
In China
Penny Pan
Manager, Investor Relations
China Real Estate Information Corporation
Phone: +86 (21) 6086-8111
E-mail: ir@cric.com
Derek Mitchell
Ogilvy Financial, Beijing
Phone: +86 (10) 8520-6284
E-mail: cric@ogilvy.com
In the U.S.
Jessica Barist Cohen
Ogilvy Financial, New York
Phone: +1 (646) 460-9989
E-mail: cric@ogilvy.com
SOURCE China Real Estate Information Corporation