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AutoNavi Issues Clarification on Market Activity

2012-12-07 04:30 ET - News Release

BEIJING, Dec. 7, 2012 (GLOBE NEWSWIRE) -- AutoNavi Holdings Limited ("AutoNavi" or the "Company") (Nasdaq:AMAP) is a leading provider of digital map content and navigation and location-based solutions in China. In view of the recent market activity in the Company's American depositary shares, the Company would like to clarify that even though its independent auditor is Deloitte Touche Tohmatsu CPA Ltd., the company is not the Deloitte Touche Tohmatsu client referred to by the U.S. Securities and Exchange Commission in its proceedings initiated against the five accounting firms in China. AutoNavi was not and is not subject to any SEC investigations.

About AutoNavi Holdings Limited

AutoNavi Holdings Limited (Nasdaq:AMAP) is a leading provider of digital map content and navigation and location-based solutions in China. At the core of its business is a comprehensive nationwide digital map database that covers approximately 3.6 million kilometers of roadway and over 20 million points of interest across China. Through its digital map database and proprietary technology platform, AutoNavi provides comprehensive, integrated navigation and location-based solutions optimized for the Chinese market and users, including automotive navigation solutions, mobile location-based solutions and Internet location-based solutions, and public sector and enterprise applications. For more information on AutoNavi, please visit http://www.autonavi.com.

CONTACT: For investor and media inquiries please contact:

         In China:
         Serena Shi
         AutoNavi Holdings Limited
         Tel: +86-10-8410-7883
         E-mail: serena.shi@autonavi.com
         Derek Mitchell
         Ogilvy Financial, Beijing
         Tel: +86-10-8520-3073
         E-mail: amap@ogilvy.com
         In the U.S.:
         Jessica Barist Cohen
         Ogilvy Financial, New York
         Tel: +1-646-460-9989
         E-mail: amap@ogilvy.com

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