[Changyou Reports First Quarter 2009 Results Company exceeds revenue guidance previously issued by Sohu by US$1.6 million; Total revenues grow 6% quarter-over-quarter and 50% year-over-year to record US$61.6 million; Non-GAAP net income grows 13% quarter-over-quarter and 100% year-over-year to record US$34.4 million Beijing, China, May 4, 2009 – Changyou.com Limited (“Changyou” or the “Company”) (Nasdaq: CYOU), a leading online game]

[Changyou Reports First Quarter 2009 Resultsmpany exceeds revenue guidance previously issued by Sohu by US$1.6 million; Total revenues grow 6% quarter-over-quarter and 50% year-over-year to record US$61.6 million; SIZE="2"> Non-GAAP netome grows 13% quarter-over-quarter and 100% year-over-year to record US$34.4 million Beijing, China, May4, 2009 Changyou.com Limited (Changyou or thempany) (Nasdaq: CYOU), a leading online]

[Press Release 99.1 Press Release issued by the Company on April 8, 2009 (Beijing Time): “Changyou Announces Closing of Initial Public Offering and Underwriters’ Exercise of Option to Purchase Additional Shares.” CHANGYOU.COM LIMITED TAO WANG, Chief Executive Officer]