Qihoo 360 proposes to issue 550 million US dollar advanced convertible bills

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Beijing time August 28 Morning News, Qihoo 360 (Nyse:qihu) announced today that the company plans to issue 2018, the scale of 550 million U.S. dollars of advanced convertible notes.

In addition, Qihoo 360 plans to give first-time purchasers a 30-day allotment option to purchase bills of up to $50 million. The bill could be transformed into Qihoo 360, the US Depository ("ads"), and each two ADS amounted to 3 shares of the company's Class A common stock.

The advanced convertible bills will expire on September 15, 2018. From September 20, 2016 onwards, the holder of the bill may, under certain circumstances, be able to cash the notes purchased, and may require the company to repurchase the instruments it holds. Qihoo 360 said the proceeds from the issuance of the bill would be used for the general expenses of the company. The conversion ratio of the issued notes and other relevant provisions are still to be determined when final issue pricing is pending. (Chen)

The following contact information can be consulted by investors and the media:

China: Qihoo 360 Technology Co., Ltd.

Tel: +86 10-5878-1574

Mail: ir@360.cn

United States: The Piacente Group, Inc.

Contact person: Brandi Floberg;lee Roth

Tel: +1 (212) 481-2050

Mail: qihu@tpg-ir.com