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Dangdang Announces Receipt of Revised Non-binding Proposal to Acquire the Company at US$6.50 per ADS or US$1.30 per Common Share

BEIJING, May 17, 2016 /PRNewswire/ -- E-Commerce China Dangdang Inc. ("Dangdang" or the "Company") (NYSE: DANG), a leading business-to-consumer e-commerce company in China, today announced that the board of directors of the Company (the "Board") has received a non-binding proposal, dated May 17, 2016, from Ms. Peggy Yu Yu, Chairwoman of the Board, and Mr. Guoqing Li, Chief Executive Officer and director of the Company (together, the "Buyer Group"), to acquire all of the outstanding shares of the Company not already owned by the Buyer Group at US$6.50 per American depositary share ("ADS", each ADS representing five Class A common share) or US$1.30 per common share in cash, subject to certain conditions. A copy of the proposal letter is attached hereto as Exhibit A.

The special committee of the Board (the "Special Committee"), formed to consider the original proposal by the Buyer Group, dated July 9, 2015, is evaluating this revised proposal with the assistance of its financial and legal advisors. The Special Committee cautions the Company's shareholders and others considering trading in the Company's securities that no decision has been made by the Special Committee or the Board with respect to the revised proposal. There can be no assurance that any definitive offer will be made, any agreement will be executed or that this or any other transaction will be approved or consummated.

About Dangdang

E-Commerce China Dangdang Inc. is a leading business-to-consumer e-commerce company in China. On its website and through mobile Dangdang, the Company offers books and media products as well as selected general merchandise products including fashion and apparel, baby, children and maternity and home and lifestyle products, among others. It also operates the marketplace program, which allows third-party merchants to sell their products alongside products sourced by the Company. Dangdang is transforming itself into an integrated online shopping experience with prominent destination categories. Dangdang's nationwide fulfilment and delivery capabilities, high-quality customer...