[Hurray! and Shanda Interactive Enter Into Asset Sale Agreement Beijing, China and Shanghai, China — June 1, 2010 — Shanda Interactive Entertainment Limited (Shanda) (Nasdaq: SNDA), a leading interactive entertainment media company in China and Hurray! Holding Co., Ltd. (Hurray!) (Nasdaq: HRAY), a leader in online video portal operations, artist development, music production, wireless music distribution, and other wireless value-added] [EXECUTION VERSION MASTER TRANSACTION AGREEMENT by and between SHANDA INTERACTIVE ENTERTAINMENT LIMITED and HURRAY! HOLDING CO., LTD. Dated as of June 1, 2010 TABLE OF CONTENTS Page Definitions ARTICLE 1 . Definitions Section 1.01 1 . Other Definitional and Interpretative Provisions Section 1.02 4 Purchase and Sale ARTICLE 2 Purchase and Sale Section 2.01. 4 . Purchase Price; Allocation of] [FORM 6-K Hurray! Holding Co., Ltd. Beijing 100131, People’s Republic of China 11/F, China Railway Construction Tower þ o Form 20-F o S-T Rule 101(b)(1): o S-T Rule 101(b)(7): o þ Yes 82-N.A. PRESS RELEASE DATED JUNE 1, 2010 MASTER TRANSACTION AGREEMENT BETWEEN SHANDA INTERACTIVE ENTERTAINMENT LIMITED AND HURRAY! HOLDING CO., LTD. DATED JUNE 1, 2010 Hurray! Holding Co., Ltd.]

[Hurray! Reports Preliminary Results for the First Quarter 2010 BEIJING, China, June 1, 2010 /Xinhua-PRNewswire/ — Hurray! Holding Co., Ltd. (“Hurray!” or the “Company”, Nasdaq: HRAY), a leading company in online video portal operations, artist development, music production, wireless music distribution, and other wireless value-added services in China, today announced its preliminary unaudited financial results for its first quarter ended]