Shanda will operate "Legend of the fairy tale" exclusively in mainland China"

Shanghai, China, on July 11, 2005, grand Interactive Entertainment Co., Ltd. (Nasdaq: SNDA) announced that it had signed a proxy agreement with South Korea's online game company Gravity (Nasdaq: GRVY. According to the agreement, Shanda will have the exclusive operation right of MMORPG, a cartoon-type multiplayer online role-playing game developed by Gravity, in mainland China. Shanda will take over operations in mainland China after the proxy agreement between the agency operators in mainland China and Gravity expires.
Legend of fairy tales is a major game product of Gravity and has been commercially available in 20 markets. The Legend of the fairy tale is based on the myth of North Europe. It has twists and turns and beautiful 3D scenes. Its screen design draws on mythical and historical elements with different cultural characteristics from all over the world.
"The cartoon and healthy game style of Legend of the fairy tale is very suitable for women and young gamers. These users have great potential for growth, and they are the target user group for grand family strategy implementation, "Chen Tianqiao, Chairman and CEO of Shanda, said," Shanda has a leading sales network and operation platform. We believe that it can provide a richer gaming experience for Chinese game players in Legend of the fairy tale."
David Woong-Jin Yoon, CEO of Gravity, said: "We are very happy to cooperate with Shanda. We believe that this cooperation can further consolidate Gravity's position in the Chinese online gaming market ."