Baidu Signs Memorandum of Understanding to Acquire 100% Interest in NetDragon's Subsidiary 91 Wireless

     Baidu Signs Memorandum of Understanding to Acquire 100% Interest in
                      NetDragon's Subsidiary 91 Wireless

PR Newswire

BEIJING, July 15, 2013

BEIJING, July 15, 2013 /PRNewswire/ -- Baidu, Inc. (NASDAQ: BIDU), the leading
Chinese language Internet search provider, today announced that it has signed
a Memorandum of Understanding ("MOU") on the Proposed Acquisition of all
equity interests in 91 Wireless Websoft Limited ("91 Wireless") from NetDragon
(HKEx:777).

(Logo: http://photos.prnewswire.com/prnh/20081103/BAIDULOGO)

Pursuant to the MOU, Baidu will purchase the entire issued share capital of 91
Wireless for a total of US$1.9 billion. Baidu and NetDragon will further
negotiate and agree on the relevant terms of the Proposed Acquisition in the
definitive agreements by 14 August 2013 ("the Long Stop Date") to purchase
NetDragon's 57.41% equity interest in 91 Wireless. Before the signing of
definitive agreements or the Long Stop Date (whichever is earlier), NetDragon
is restricted from approaching or discussing with any third parties the sale
of 91 Wireless. Baidu intends to purchase the remaining equity interests in 91
Wireless from other shareholders based on terms and conditions similar to
those offered to NetDragon, provided those shareholders are willing to sell by
the Long Stop Date.

About Baidu

Baidu, Inc.is the leading Chinese language Internet search provider. As a
technology-based media company,Baiduaims to provide the best and most
equitable way for people to find whatever they're looking for. In addition to
serving individual Internet search users,Baiduprovides an effective platform
for businesses to reach potential customers.Baidu's ADSs trade on the NASDAQ
Global Select Market under the symbol "BIDU". Currently, ten ADSs represent
one Class A ordinary share.

About NetDragon Websoft Inc.

NetDragon Websoft Inc. (HKSE: 0777) is a leading innovator and creative force
in China's online gaming and mobile Internet industries. Established in 1999,
NetDragon is a vertically integrated developer & operator of MMORPGs and a
cutting-edge R&D powerhouse. NetDragon launched its first self-made online
game Monster & Me in 2002, followed by multiple titles including Eudemons
Online, Conquer Online and Heroes of Might & Magic Online. It is also China's
pioneer in overseas expansion, directly operating titles in overseas markets
since 2003 in English, Spanish, Arabic and other languages. In the mobile
Internet industry, NetDragon provides China's leading marketplace for
smartphone users, offering applications and content for the most popular
mobile operating systems. NetDragon offers many well-known mobile Internet
products and services, including 91 Assistant, HiMarket, 91 Launcher, 91 Panda
Reader, sj.91.com and www.hiapk.com.

About 91 Wireless Websoft Limited

Started in 2007, 91 Wireless mainly engages in the development and operation
of two leading smartphone app distribution platforms in China, namely 91
Assistant and HiMarket ("91 Smartphone Apps Marketplaces"), community
websites, 91 Launcher, 91 Panda Reader, as well as other popular products for
smartphone users. To date, over 10 billion apps have been downloaded through
the 91 Smartphone Apps Marketplaces. According to the iResearch 2011-2012
report, compiled by independent research firm iResearch, 91 Wireless is the
No.1 3rd party app distribution platform in China by both active users and
accumulated downloads.

For investor inquiries please contact:

China

Victor Tseng
Baidu, Inc.
Tel: +86-10-5992-7244
Email: ir@baidu.com

Nick Beswick
Brunswick Group
Tel: +86-10-5960-8600
Email: baidu@brunswickgroup.com

U.S.

Cindy Zheng
Brunswick Group
Tel: +1-212-333-3810
Email: baidu@brunswickgroup.com

SOURCE Baidu, Inc.

Website: http://www.baidu.com
Website: http://www.hiapk.com
 
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