Acquisition Will Add Two Million Paying Subscribers and Further Solidify SINA’s leadership in the mobile value-added service market in China

　　Shanghai, China.--(Xinhua/PR Newswire)—February 27 2004--SINA Corporation (Nasdaq:SINA), a leading online media company and value-added information service provider for China and for global Chinese communities, announced today that it has entered into a definitive agreement to acquire Crillion Corp, one of the leading mobile valued-added service providers in China. The acquisition will add two million paying subscribers to SINA and further solidify SINA’s leadership position in China mobile value-added service market.

　　Based in Shenzhen, Crillion works with job centers around China to provide job referrals via wireless short messaging service (“SMS”) to a large number of job seekers in China. Building upon this customer base, Crillion has created various popular SMS based mobile communities with members paying between US$0.70 and US$1.00 on a monthly basis. In 2003, Crillion generated approximately US$10.5 million in revenues and US$4.4 million in net income.

　　The rapid economic development in China in recent years has created a large pool of job seekers. According to a report by issued by China’s National Bureau of Statistics, based on the 2000 census, China has a total migrant population of over 121 million. A large majority of this population represents job seekers who have relocated to more prosperous cities in search of job opportunities.

　　"Over the past year, Crillion has targeted the job seeking market and rapidly established itself as the clear leader in this demographic segment," said Wang Yan, CEO of SINA. "This acquisition will allow SINA to expand into new market segments and further solidifies our leadership position in the mobile value-added service market in China.”

　　SINA will pay approximately US$17.9 million in cash and SINA shares as the first installment upon closing and with the rest paid out on an earn-out basis over the next 2 years. The subsequent earn-out payments after the first installment will be paid out roughly on a 1.5 to 2 times 2004 and 2005 earnings basis respectively, provided that Crillion’s pretax net income for 2004 and 2005 is over US$6.7 million and US$13.3 million, respectively. The total consideration has a cap of US$125 million, of which, 60% will be paid in cash and the remaining in SINA shares.

　　The transaction is subject to customary closing conditions including regulatory approvals and is expected to close no later than the second quarter of 2004.

　　About SINA

　　SINA Corporation (FKA: SINA.com) (NASDAQ: SINA) is a leading online media company and value-added information service ("VAS") provider for China and for global Chinese communities. With a branded network of localized web sites targeting Greater China and overseas Chinese, SINA operates four major business lines including SINA.com (online media and entertainment service), SINA Mobile (wireless VAS), SINA Online (consumer fee-based online VAS) and SINA.net (enterprise and government VAS), providing an array of services including online portals, premium email, wireless VAS, telecom VAS, virtual ISP, search, classified information, online games, e-learning, e-commerce and e-government solutions.

　　Safe Harbor Statement

　　This announcement contains forward-looking statements. We may also make written or oral forward-looking statements in our periodic reports to the Securities and Exchange commission on forms 10-K, 10-Q, 8-K, etc., in our annual report to shareholders, in our proxy statements, in our offering circulars and prospectuses, in press releases and other written materials and in oral statements made by our officers, directors or employees to third parties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, SINA’s historical losses, its limited operating history, the uncertain regulatory landscape in the People's Republic of China, fluctuations in quarterly operating results, the Company's reliance on its mobile content value added services and online advertising sales for a majority of its revenues, the Company’s reliance on mobile operators in China to provide wireless short messaging service, any failure to successfully develop and introduce new products and any failure to successfully integrate acquired businesses. Further information regarding these and other risks is included in SINA's prospectus, 10K, 10Q and in its other filings with the Securities and Exchange Commission.