YY Announces Underwriters' Exercise of Over-Allotment Option

YY Announces Underwriters' Exercise of Over-Allotment Option

GUANGZHOU, China, Dec. 3, 2012 (GLOBE NEWSWIRE) -- YY Inc. (Nasdaq:YY) ("YY"
or the "Company"), a revolutionary rich communication social platform, today
announced that the underwriters for the Company's recent initial public
offering have exercised in full the over-allotment option to purchase an
additional 1,170,000 American depositary shares, each representing 20 Class A
common shares of the Company. Immediately upon closing of the exercise of the
over-allotment option, the Company will have 8,970,000 American depositary
shares outstanding, representing 179,400,000 Class A common shares of the
Company and approximately 15.2% of the Company's total outstanding share
capital after the offering on a fully diluted basis, taking into consideration
all share incentive awards issued.As a result, the total gross proceeds that
the Company will receive from the initial public offering, including from the
underwriters' exercise of the over-allotment option in full, is US$94.2

Morgan Stanley & Co. International plc, Deutsche Bank Securities Inc. and
Citigroup Global Markets Inc. acted as joint bookrunners and Pacific Crest
Securities LLC and Piper Jaffray & Co. acted as co-managers for the initial
public offering.

The Company's registration statement relating to the initial public offering
has been filed with, and declared effective by, the United States Securities
and Exchange Commission. This press release does not constitute an offer to
sell or a solicitation of an offer to buy any securities, nor shall there be
any sale of these securities, in any state or other jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or jurisdiction.

The offering of the securities was made only by means of a prospectus forming
a part of the effective registration statement. A copy of the prospectus
relating to the offering may be obtained by contacting Morgan Stanley & Co.
Incorporated, Attention: Prospectus Department, 180 Varick Street, 2nd Floor,
New York, NY, 10014, United States of America, or by calling 1-866-718-1649,
or by email at prospectus@morganstanley.com; or Deutsche Bank, Attn:
Prospectus Department, 100 Plaza One, Jersey City, NJ 07311, United States, or
by calling 1-800-503-4611, or by email at prospectus.cpdg@db.com; or
Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, or by calling 800-831-9146.

About YY Inc.

YY Inc. ("YY" or the "Company") is a revolutionary rich communication social
platform that engages users in real-time online group activities through
voice, text and video. Launched in July 2008, YY Client, the Company's core
product, empowers users to create and organize groups of varying sizes to
discover and participate in a wide range of online activities, including
online games, karaoke, music concerts, education, live shows and conference
calls. In August 2012, YY Client achieved approximately 10.0 million peak
concurrent users and approximately 70.5 million monthly active users. As of
September 30, 2012, YY Client had 400.5 million registered user accounts, and
in the first nine months of 2012, users spent 393.0 billion voice minutes on
YY Client. 

CONTACT: Investor Relations Contact:
         ICR, Inc.
         Jeremy Peruski
         +1 (646) 915-1611
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