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Giant Interactive Group Inc. Announces Exercise of Over-Allotment Option
Nov 05, 2007 (08:11 AM EST)


SHANGHAI, China, Nov. 5 /Xinhua-PRNewswire-FirstCall/ -- Giant Interactive Group Inc. (''Giant'') , one of China's leading online game developers and operators in terms of revenues, announced today that the underwriters of its initial public offering exercised their over-allotment option to purchase 8,579,613 shares from the selling shareholder at $15.50 per share. The option was granted in connection with the company's initial public offering (the ''IPO''), which priced on October 31, 2007.

After inclusion of the over-allotment shares, the aggregate gross proceeds from the sale of ADSs in the IPO and the placement of ordinary shares to a third party at the IPO price were approximately $1.04 billion. Giant will not receive any of the proceeds from the sales of the ADSs by the selling shareholder in the IPO, including pursuant to the exercise of the over- allotment option.

Merrill Lynch, Pierce, Fenner & Smith Incorporated and UBS Investment Bank acted as the joint global coordinators and joint book runners for the offering. UBS Investment Bank acted as stabilization agent. J.P. Morgan Securities Inc., CIBC World Markets Corp., Piper Jaffray & Co. and Susquehanna Financial Group LLLP were co-managers.

The U.S. Securities and Exchange Commission (the ''SEC'') declared Giant's registration statement to these securities effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering of the securities is made only by means of a prospectus. A copy of the prospectus related to this offering may be obtained by contacting UBS Securities LLC, Attn: Prospectus Department, 299 Park Avenue, New York, NY 10171, phone: 1-212-821-3000 or Merrill Lynch, Pierce, Fenner & Smith Incorporated, 4 World Financial Center, New York, NY 10080, phone: 1-212-449- 1000.

About Giant Interactive Group Inc.

Giant Interactive Group Inc. is one of China's leading online game developers and operators in terms of revenues, focusing on massively multiplayer online role-playing games. Giant's game, ZT Online, was voted the most popular online game in China in 2006 according the International Data Corporation. Giant has three additional online games that it intends to commercially launch, including ZT Online PTP, Giant Online and King of Kings III. Giant has built a nationwide distribution network to sell the prepaid game cards and game points required to play its games, which as of August 31, 2007 consisted of over 200 distributors, and reached over 116,500 retail outlets, including internet cafes, software stores, supermarkets, bookstores, newspaper stands and convenience stores located throughout China.

Safe Harbor Statement

This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The forward-looking statements involve a number of risks and uncertainties. A number of factors could cause Giant's actual results, performance, achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in the SEC filings of Giant.

For more information, please contact: Investor Contact: Eric He, CFO Giant Interactive Group Inc. Tel: +86-21-6451-5001 Investor Relations (US): Mahmoud Siddig Taylor Rafferty Tel: +1-212-889-4350 Investor Relations (HK): Ruby Yim Taylor Rafferty Tel: +852-3196-3712 Media Contact: John Dooley Taylor Rafferty Tel: +1-212-889-4350

CONTACT: Investor Contact: Eric He, CFO of Giant Interactive Group Inc.,+86-21-6451-5001; or Mahmoud Siddig of Taylor Rafferty, +1-212-889-4350 (Investor Relations (US)); or Ruby Yim of Taylor Rafferty, +852-3196-3712 (Investor Relations (HK)); or Media Contact: John Dooley of Taylor Rafferty,+1-212-889-4350