Camelot Information Systems Inc. Announces Pricing of Initial Public Offering of its American Depositary Shares

BEIJING, July 21 /PRNewswire-Asia-FirstCall/ -- Camelot Information Systems Inc. ("Camelot" or the "Company") (NYSE: CIS), a leading domestic provider of enterprise application services and financial industry information technology services in China, announced today that its initial public offering of 13,333,334 American Depositary Shares ("ADSs"), each representing four ordinary shares, was priced at US$11.00 per ADS. The ADSs are expected to begin trading on July 21, 2010 on the New York Stock Exchange under the symbol "CIS".

Of the 13,333,334 ADSs sold in the offering, 9,166,667 ADSs were sold by Camelot and the remainder by the selling shareholders. The selling shareholders have granted the underwriters a 30-day over-allotment option to purchase up to an additional 2,000,000 ADSs.

The total size of the offering is approximately US$146.7 million, and if the over-allotment option is exercised in full the total size of the offering will be US$168.7 million. The net proceeds to Camelot from the sale of the ADSs are approximately US$89.8 million. Camelot intends to use these net proceeds for working capital and general corporate purposes, as well as to fund possible future strategic acquisitions.

Goldman Sachs (Asia) L.L.C. is acting as Sole Global Coordinator and Joint Bookrunner, and Barclays Capital is acting as Joint Bookrunner for the offering. William Blair & Company, Cowen and Company and Oppenheimer & Co. are acting as Co-Managers.

Camelot's registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering of the securities is made only by means of a written prospectus forming a part of the effective registration statement. A copy of the prospectus related to this offering may be obtained by contacting Goldman Sachs at Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone (212) 902-1171, or by e-mailing [email protected] or by contacting Barclays Capital at Barclays Capital Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone (888) 603-5847, or by e-mailing [email protected].

About Camelot Information Systems Inc.

Camelot is a leading domestic provider of enterprise application services and financial industry information technology ("IT") services in China, focusing on the high end of the IT value chain. The Company is the largest domestic provider of SAP-based Enterprise Resource Planning services in China as measured by 2009 revenue and by number of SAP consultants as of December 31, 2009. Camelot also operates in other areas of the Asia Pacific region, including Taiwan and Japan. The Company provides services to a wide range of industries, including financial services, resources and energy, manufacturing and automobile, technology, as well as telecommunication, media and education. For more information about Camelot Information Systems Inc., please visit http://www.camelotchina.com .

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties that could cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Further information regarding these and other risks is included in Camelot's filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1, as amended from time to time. Camelot does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

    For more information, please contact:

    Camelot Information Systems Inc.
     Gordon Lau, Chief Financial Officer
     Tel:   +86-10-5810-0808
     Email: [email protected]

    Investor Relations (Hong Kong)
     Ruby Yim, Managing Director
     Taylor Rafferty
     Tel:   +852-3196-3712
     Email: [email protected]

    Investor Relations (US)
     Mahmoud Siddig, Director
     Taylor Rafferty
     Tel:   +1-212-889-4350
     Email: [email protected]

SOURCE Camelot Information Systems Inc.