China Mobile Games and Entertainment Group Limited Announces Closing of Its Follow-On Public Offering of 3,442,000 American

China Mobile Games and Entertainment Group Limited Announces Closing of Its
Follow-On Public Offering of 3,442,000 American Depositary Shares

HONG KONG, March 26, 2014 (GLOBE NEWSWIRE) -- China Mobile Games and
Entertainment Group Limited ("CMGE" or the "Company") (Nasdaq:CMGE), the
largest publisher and a leading developer of mobile games in China, today
announced the closing of its follow-on public offering of 3,442,000 American
depositary shares ("ADSs") of the Company at US$24.00 per ADS. Each ADS
represents 14 Class A ordinary shares, par value US$0.001 per ordinary share.
The Company received aggregate net proceeds of approximately US$78.7 million
from the offering, after deducting discounts and commissions but before
offering expenses.

Credit Suisse Securities (USA) LLC, Barclays Capital Inc., Jefferies LLC, and
Nomura Securities International, Inc. are acting as joint bookrunners and
Brean Capital, LLC is acting as co-manager for the offering. CMGE has granted
the underwriters a 30-day option to purchase up to an additional 516,300 ADSs
in connection with the offering to cover over-allotments.

A registration statement relating to these securities has been declared
effective by the U.S. Securities and Exchange Commission on March 20, 2014.
This offering is being made by means of a written prospectus forming a part of
the effective registration statement. Investors are advised to read the
prospectus and other documents the Company has filed with the SEC for more
complete information about the Company and the offering.

This press release does not constitute an offer to sell or the solicitation of
an offer to buy the securities, nor will there be any sale of the securities
in any state or jurisdiction in which such an offer, solicitation or sale
would be unlawful.

About CMGE

CMGE is the largest publisher and a leading developer of mobile games in China
with integrated capabilities across the mobile game value chain. Its fully
integrated capabilities include the development, licensing, publishing,
distribution and operation of mobile games, primarily in China. Its social
games are mainly developed for Android and iOS-based smartphones. CMGE's
extensive distribution network includes its proprietary Game Center
application, handset pre-installations, application stores and web platforms
and mobile network operators. The offices are in Guangzhou, Shenzhen, Beijing,
Chengdu, Shanghai and Hong Kong. The Company's stock is traded on NASDAQ under
the symbol CMGE. For more corporate and product information, please visit
CMGE's website at http://www.cmge.com.

Safe Harbor Statement

This announcement contains forward-looking statements. These 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," "confident" and similar
statements. CMGE may also make written or oral forward-looking statements in
its periodic reports to 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
CMGE'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 those
contained in any forward-looking statement, including but not limited to the
following: our growth strategies as well as our business plans; our future
development, results of operations and financial condition; our ability to
continue to develop new and attractive products and services; our ability to
continue to develop new technologies or upgrade our existing technologies; our
ability to attract and retain users and customers and further enhance our
brand recognition; the expected growth of and trends in the mobile game
industry in China; PRC governmental policies and regulations relating to the
mobile game industry in China; competition in the mobile game industry; and
general economic and business conditions in China. Further information
regarding these and other risks is included in our registration statement on
Form F-3, annual report on Form 20-F for the year ended December 31, 2013 and
other documents filed with the Securities and Exchange Commission. CMGE does
not undertake any obligation to update any forward-looking statement, except
as required under applicable law. All information provided in this press
release and in the attachments is as of the date of the press release, and
CMGE undertakes no duty to update such information, except as required under
applicable law.

CONTACT: For investor and media inquiries, please contact:

         China Mobile Games and Entertainment Group Limited
         Tel: +852 2700 6168
         E-mail: ir@cmge.com
         In the U.S.:
         The Piacente Group
         Investor Relations
         Glenn Garmont
         Tel: +1 212-481-2050
         E-mail: cmge@tpg-ir.com
 
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