Simpson Thacher is representing Bank of America Merrill Lynch as the financial advisor to the Special Committee of the Board of Directors of Shanda Interactive Entertainment Limited (“Shanda”), in connection with a going private transaction involving Shanda proposed by Mr. Tianqiao Chen, Chairman of the Board, Chief Executive Officer and President of Shanda, his wife Ms. Qian Qian Chrissy Luo, who is a non-executive director of Shanda and his brother Mr. Danian Chen, who is the Chief Operating Officer and a director of Shanda (collectively the “Buyer Group”). Shanda has entered into a definitive agreement with Premium Lead Company Limited (“Parent”), which is a newly-formed entity owned by the Buyer Group, and New Era Investment Holding Ltd. (“Merger Sub”), pursuant to which Parent will acquire Shanda for $20.675 per ordinary share or $41.35 per American Depositary Share, each representing two ordinary shares. The transaction values Shanda’s equity at approximately $2.3 billion on a fully diluted basis.