China Digital TV Announces Special Cash Dividend to Shareholders

       China Digital TV Announces Special Cash Dividend to Shareholders

PR Newswire

BEIJING, Nov. 12, 2012

BEIJING, Nov. 12, 2012 /PRNewswire/ -- China Digital TV Holding Co., Ltd.
(NYSE: STV) ("China Digital TV" or the "Company"), the leading provider of
conditional access ("CA") systems to China's expanding digital television
market, today declared a special cash dividend of US$2.30 per share on the
Company's ordinary shares, par value US$0.0005 per share. Each of the
Company's American depositary shares represents one ordinary share.

Shareholders of record as of the close of business on November 26, 2012, U.S.
Eastern Standard Time, will be eligible to receive the dividend. This cash
dividend is currently expected to be paid in two installments of US$1.00 and
US$1.30 on or around December 3, 2012 and February 4, 2013, respectively.

Mr. Jianhua Zhu, China Digital TV's Chairman and Chief Executive Officer
commented, "Our Board of Directors believes that a special cash dividend is an
efficient use of cash to maximize shareholder value. Our balance sheet and
cash flow will continue to allow us to invest in the development of
industry-leading technologies."

In light of the foregoing dividend declaration, the Company has accrued a
deferred tax liability related to the undistributed retained earnings of its
subsidiaries located in the PRC that will impact the net income attributable
to China Digital TV in its unaudited financial results in the three months
ended September 30, 2012, which are expected to be announced on November 20,

This is the fourth time that the Company has declared dividends to its
shareholders since its initial public offering and listing on the NYSE in
2007. Going forward, China Digital TV's board of directors will continue to
evaluate the Company's dividend policy based on various factors, including
those relating to shareholder value.

As of June 30, 2012, China Digital TV had cash and cash equivalents and
restricted cash totaling US$180.4 million, or US$3.05 per share on a diluted

Safe Harbor Statements

This announcement contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Such forward-looking statements
are made under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995.

These forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans," "believes,"
"estimates," "may," "should" and similar expressions. Such forward-looking
statements include, without limitation and comments by management in this
announcement about trends in the CA systems, digital television, cable
television and related industries in the PRC and China Digital TV's strategic
and operational plans and future market positions. China Digital TV may also
make forward-looking statements in its periodic reports filed with the U.S.
Securities and Exchange Commission, in its annual report to shareholders, in
press releases and other written materials and in oral statements made by its
officers, directors or employees to third parties. Statements that are not
historical facts, including statements about China Digital TV'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 projections contained or implied in
any forward-looking statement, including but not limited to the following:
competition in the CA systems, digital television, cable television and
related industries in the PRC and the impact of such competition on prices,
our ability to implement our business strategies, changes in technology, the
progress of the television digitalization in the PRC, the structure of the
cable television industry or television viewer preferences, changes in PRC
laws, regulations or policies with respect to the CA systems, digital
television, cable television and related industries, including the extent of
non-PRC companies' participation in such industries, and changes in political,
economic, legal and social conditions in the PRC, including the government's
policies with respect to economic growth, foreign exchange and foreign

Further information regarding these and other risks and uncertainties is
included in our annual report on Form 20-F and other documents filed with the
U.S. Securities and Exchange Commission. China Digital TV does not assume any
obligation to update any forward-looking statements, which apply only as of
the date of this press release.

About China Digital TV

Founded in 2004, China Digital TV is the leading provider of CA systems to
China's expanding digital television market. CA systems enable television
network operators to manage the delivery of customized content and services to
their subscribers. China Digital TV conducts substantially all of its business
through its PRC subsidiary, Beijing Super TV Co., Ltd., and its affiliate,
Beijing Novel-Super Digital TV Technology Co., Ltd., as well as subsidiaries
of its affiliate.

For more information please visit the Investor Relations section of China
Digital TV's website at

Investor Contact:

In China:

Nan Hao
Senior Supervisor of Investor Relations
Tel: +86-10-6297-1199 x 9780

Josh Gartner
Brunswick Group
Tel: +86-10-5960-8610

In the US:

Patricia Graue
Brunswick Group
Tel: +1-415-671-7676

SOURCE China Digital TV Holding Co., Ltd.

Press spacebar to pause and continue. Press esc to stop.