The9 Appoints Deloitte Vet As New CFO

Shanghai-based online game operator The9 Limited has appointed former Deloitte Touche Tohmatsu senior auditor George Lai as its new Chief Financial Officer, effective July 3rd, 2008. Lai will take over current CFO Tony Tse's position as he resigns due to personal and family reasons. Lai served in several positions at Deloitte Touche Tohmatsu's Hong Kong, New York, and Beijing offices since he began working at the company in 2000, including audit manager and senior audit manager. Lai played key roles in numerous IPO projects in the United States and China. The9 manages the operation and distribution for several popular MMORPG titles, including Ragnarok Online 2 and World of Warcraft and its expansions, in mainland China. Most recently, the company invested $38 million in G10 Entertainment, the Korean developer behind Audition 2, an MMO dancing game which The9 plans to operate in China. Said The9 CEO and chairman Jun Zhu, "Although we are sorry to see Tony's departure due to personal and family reasons, we would like to express our sincere gratitude to his hard work during his serving period at The9, especially his contribution to the company's Form 20-F filing process." Zhu continued: "In addition, we are very pleased to welcome George on board as our new Chief Financial Officer. George has extensive knowledge in US GAAP and solid background in dealing with public company issues, especially in the fast booming internet industries, and we believe he will fully utilize these knowledge and skill-sets to perform the important managerial role of Chief Financial Officer at The9."