Kingsoft appoints Zhang Hong Jiang as Chief Executive Officer

Zhang will replace KAU Pak Kwan, who has been re-assigned as a nonexecutive director of the Company.

The board of directors (the “Board”) of Kingsoft Corporation Limited (the “Company”, together with its subsidiaries, the “Group”) announces that with effect from 24 October 2011, (i) Mr. KAU Pak Kwan (“Mr. KAU”), an executive director and the chief executive officer of the Company, has ceased to act as the chief executive officer of the Company and was re-designated as a nonexecutive director of the Company; and (ii) Dr. ZHANG Hong Jiang (“Dr. ZHANG”) has been appointed as the chief executive officer of the Company, according to a Kingston report.

Mr. KAU Pak Kwan, aged 46, has been employed by us since 1988. He graduated from National Defense University of Science and Technology in China in 1984 with a bachelor degree in Information Management Systems. Between 1984 and 1987, Mr. KAU worked at various Chinese companies as a software developer.

Mr. KAU started Kingsoft Software in 1988, and he was primarily responsible for the development of WPS 1.0 in 1988. Mr. KAU was named as one of the Top Ten Business Persons of the Year in 2000, one of the China Top Financial Figures of the Year in 2001 by CCTV, one of the Ten Most Influential Leaders in China’s Games Industry at the inaugural China Game Industry Annual Conference in January 2005, and one of the Most Outstanding Entrepreneurs at 2009 China Game Industry Annual Conference held in December 2009. Mr. KAU has never held directorship in any other listed public companies. Mr. KAU was appointed as an acting chief executive officer of the company in December 2007 and he was appointed as the chief executive officer of the Company in May 2008. Mr. KAU was chairman of the Board. Mr. KAU is also a director of certain subsidiaries of the Group.

Mr. KAU has entered into a service contract with the Company as a non-executive director of the Company for a term of 3 years from 24 October 2011. He is also subject to retirement by rotation and re-election at the annual general meeting of the Company in accordance with the articles of association of the Company. Under the service contract, he will receive director’s emoluments of USD30,000 per annum which was determined by the Board based on the recommendations of the remuneration committee and nomination committee of the Company, with reference to his duties and responsibilities with the Company and the market rate for his positions.

Dr. ZHANG Hong Jiang, aged 50, before joining the Company was the Chief Technology Officer for Microsoft Asia-Pacific Research and Development Group (ARD) and the Managing Director of the Microsoft Advanced Technology Center (ATC). In his duals role, Dr. Zhang led Microsoft’s research and development agenda in China, including strategy, planning, R&D and incubation for products, services and solutions. With his leadership, ARD has been developed into a key global research, innovation and product development base for Microsoft, with a team of over three thousands engineers and researchers, covering all Microsoft core product lines and emerging businesses, including Online Services, Offi ces, Windows, Sever, Cloud Service, Embedded and Healthcare. Dr. Zhang was also a member of Executive Management Committee of Microsoft (China) Limited, a committee that defines and leads Microsoft’s strategy and business development in the Greater China.