Symbol			CRIC

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China Real Estate Information Corporation Announces Closing of Initial Public Offering and Merger With SINA's Online Real Estate Business

2009-10-21 16:30 ET - News Release

SHANGHAI, China, Oct. 22, 2009 (GLOBE NEWSWIRE) -- China Real Estate Information Corporation (''CRIC" or the "Company") (Nasdaq:CRIC), a leading provider of real estate information, consulting and online services in China, today announced the closing of its initial public offering of a total of 20,700,000 American depositary shares ("ADSs") at the public offering price of $12.00 per ADS (the "IPO"). Total proceeds to the Company from the IPO are approximately $231 million after deducting underwriting discounts and commissions. The total number of ADSs sold by the Company includes 2,700,000 ADSs sold pursuant to the underwriters' over-allotment option, which was exercised in full.

Upon the closing of the IPO, CRIC also completed the previously announced merger with the online real estate business of SINA Corporation ("SINA") (Nasdaq:SINA) (the "SINA Transaction").

Upon the completion of the IPO and the SINA Transaction, E-House (China) Holdings Limited (NYSE:EJ) remained the majority shareholder of CRIC with 50.04% of the total outstanding shares, and SINA became CRIC's second largest shareholder with 33.35% of the total outstanding shares.

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