Beijing, China, November 13, 2009 –Shanda Pictures Limited ("Shanda Pictures"), a wholly owned subsidiary of Shanda Interactive Entertainment Limited (NasdaqGS: SNDA), or Shanda, a leading interactive entertainment media company in China, and Hunan Broadcasting and Television Group ("Hunan TV"), today announced the formation of a joint venture to invest an aggregate of RMB 600 million to produce and distribute movies and television series, as well as engage in other related businesses such as agency services.

China eCapital acted as the exclusive financial advisor to the transaction.

The Joint Venture's first project will be a remake of a TV series, "Princess Huanzhu", which was adapted from the romantic novel of the same name by renowned Taiwanese writer, Qiong Yao. Princess Huanzhu was first produced in 1998, and instantly became a national hit. The Joint Venture also announced its intent to produce a movie adapted from "Xing Chen Bian "(Evolution of Beginnings), one of the most popular novels from Shanda Literature, a wholly owned subsidiary of Shanda.

Chairman and CEO of Shanda, Tianqiao Chen, commented, "The Hunan Broadcasting, Film and TV Group is one of the most vital and innovative Chinese media and entertainment groups. Its first class production team is the creative force behind some of China 's most original music and talent shows and TV series. Our partnership will combine the best aspects of traditional and new media to create new and exciting content that I believe will entertain people around the world."

Hunan Broadcasting, Film, and TV Group Bureau Chief Mr. Changlin Ouyang commented, "The cultural industry is in a crucial period of restructuring. It presents both new opportunities and challenges for traditional broadcasting, film and TV companies to leverage various resources to continue to grow and develop. Shanda is a leading new media company focusing on interactive entertainment, with a portfolio of diversified entertainment content including music, games and literature with a huge user base. We believe this cooperation will greatly benefit both partners in its future endeavors."

About Shanda Interactive Entertainment Limited

Shanda Interactive Entertainment Limited (NasdaqGS: SNDA) is a leading interactive entertainment media company in China . Shanda offers a portfolio of diversified entertainment content including some of the most popular massively multi-player online role-playing games (MMORPGs) and advanced casual online games in China, as well as online chess and board games, e-sports game platform and a variety of cartoons, literature works and music. Shanda's interactive entertainment platform attracts a large and loyal user base. Each user can interact with thousands of other users and enjoy the interactive entertainment content that Shanda provides. Interaction enriches your life. For more information about Shanda, please visit http://www.snda.com

About Hunan Broadcasting, Film and TV Group

Hunan Broadcasting, Film and TV Group is one of the leading entertainment brands and celebrity producing platforms in China . Broadcasting since 1997, Hunan Satellite Television Station, a subsidiary of Hunan Broadcasting, Film and TV Group, has been widely recognized as the No.1 entertainment media outlet in China . Over the past 12 years, the company has grown rapidly, expanding its audience from 65 million to 880 million viewers. It also broadcasts to viewers in parts of North America, Asia, and Australia .

Together with some CCTV channels, Hunan Satellite Television is considered one of the first tier channels in China in terms of audience size. Hunan Satellite Television was among the top six satellite television channels for seven consecutive years, and has been the No.1 satellite television broadcaster on a provincial level for 80 months in a row.

About China eCapital

China eCapital is a leading investment bank in China. Founded in 2000 with headquarters in Beijing, it provides private placement, merger and acquisition (M&A), and initial public offering (IPO) advisory services. With an international background and strong local presence, China eCapital has emerged as one of the most dynamic and active players in the Chinese investment banking market. While its clients encompass a wide spectrum of industries, the firm is focused on media and entertainment, technology and internet, consumer products and services, healthcare, and cleantech. For more information please visit our website at www.china-ecapital.com.