First Quarter 2009 Financial Highlights:

(Note: Unless otherwise indicated, all financial statement amounts used in this press release are based on United States Generally Accepted Accounting Principles (GAAP) and denominated in US dollars)

-- Revenues exceeded guidance - Total revenues for the first quarter of 2009 ("1Q09") increased 38% year-over-year and increased 11% quarter-over-quarter to $ 29.6 million ("mn"), exceeding the Company's first-quarter revenue guidance of $27.5 mn to $28.5 mn.

-- Gross margin stabilized - Total gross margin was 49% in 1Q09 or roughly the same level as in the fourth quarter of 2008 ("4Q08").

-- Mobile game accounted for 17% of total revenue in 1Q09, compared to 10% in 4Q08

-- Significant increase in net income - 1Q09 net income was $2.52 mn, a significant increase compared with 4Q08 net income of $ 0.52 mn. Diluted net income per ADS was $0.07 based on 36.74 mn ADS outstanding as of March 31, 2009.

-- Non-GAAP net income was $3.73 mn and Non-GAAP diluted net income per ADS was $0.10. (Non-GAAP Financial Measures are described and reconciled to the corresponding GAAP measures in the section titled "Non-GAAP Financial Measures.")

-- $141.67 mn in cash and cash equivalents - As of March 31, 2009, the Company had $141.67 mn in cash and cash equivalents, including funds received from the issuance of US$6.78 mn in convertible senior notes to Nokia Growth Partners.

Commenting on the results, the Company's Chairman and Chief Executive Officer, Leilei Wang, said, "In my first full quarter as CEO of KongZhong, I'm pleased to report that we have returned the Company to a positive operating profit and positioned the Company for future growth opportunities.

"During the quarter, we estimate that KongZhong is now the No. 1 mobile game publisher/developer in the mainland China market based on revenues, as we continued to enhance our in-house development capabilities while expanding our mobile game distribution channels.

"In addition, while we continued to enhance our market leading mobile entertainment content offerings on Kong.net with leading media firms like Titan Sports, we have also been increasing our efforts to supplement Kong.net by developing new mobile game social networking services. With the benefit of having over 3.0 mn unique daily users on Kong.net today, our team has launched a number of new initiatives including China's first flash-lite mobile game community, a new mobile avatar system, China's first mobile social game, 'Nong Chang Da Heng' and more importantly, through these new initiatives we have begun to generate revenues based on our 'Traffic to Transaction' or 'T2T' strategy which leverages Kong.net's mobile- based virtual currency system. While we expect to continue to invest in Kong.net, the early results of monetisation are encouraging and we expect Kong.net's user base and revenues to grow rapidly this year.

"Lastly, our WVAS business performed in-line with our goal in providing a strong cashflow source for our mobile game and Kong.net businesses. Although there was some impact from mobile operator policies related to handset embedding and other marketing channels due to consumer day, KongZhong is well positioned as a top-3 service provider in each of the major WVAS categories, providing us with strong relationships with each of the Chinese mobile operators and positioning us well for 3G opportunities.

"Overall, I'm very pleased with our results for the 1st quarter of 2009 and look forward to building upon these achievements as we seek to become the pre-eminent leader of the mobile Internet industry in China."

Subsequent Developments:

On March 27, 2009, the Company entered into an agreement with Mailifang to acquire 100% of its equity interest. The acquisition was closed in April 2009. Please see financial footnotes for more detail.

Mailifang is engaged in the business of developing and publishing mobile games in mainland China. The acquisition is expected to strengthen the Company's technical competence in the area of mobile game development and broaden the Company's distribution channels for mobile games in mainland China.

Financial Results:

__ For the Three__ For the Three__ For the Three

__ Months Ended__ Months Ended__ Months Ended

__ March 31,__ December 31,__ March 31,

__ 2008__ 2008__ 2009

__ (US$ thousands)__ (US$ thousands)__ (US$ thousands)

Revenues__ $21,386__ $26,736__ $29,586

WVAS__ 19,921__ 23,246__ 23,658

Mobile Games__ 1,224__ 2,698__ 4,944

Wireless Internet Service__ 241__ 792__ 984

Cost of Revenue__ $11,820__ $13,585__ $15,010

WVAS__ 10,717__ 12,201__ 12,470

Mobile Games__ 870__ 1,053__ 2,045

Wireless Internet Service__ 233__ 331__ 495

Gross profit__ $9,566__ $13,151__ $14,576

WVAS__ 9,204__ 11,045__ 11,188

Mobile Games__ 354__ 1,645__ 2,899

Wireless Internet Service__ 8__ 461__ 489

Gross profit ratio__ 45%__ 49%__ 49%

WVAS__ 46%__ 48%__ 47%

Mobile Games__ 29%__ 61%__ 59%

Wireless Internet Service__ 3%__ 58%__ 50%

Revenues

WVAS revenues in 1Q09 increased 19% from 1Q08 and increased 2% from 4Q08 to $23.66 mn. Revenues from 2.5G services accounted for approximately 20% of total WVAS revenues and revenues from 2G services represented the remaining 80%, compared to 74% in 4Q08. The increase in 2G revenue as a percentage of total WVAS in 1Q09 was due to an increase in both IVR and CRBT revenues as we broadened our distribution channels for these 2G business lines while WAP and MMS each declined sequentially due to more stringent mobile operator policies leading up to and continuing after Consumer Day activities.

Total mobile games revenues in 1Q09 increased 304% from 1Q08 and 83% from 4Q08 to $4.94 mn. Revenue from mobile multi-player online games ("MMO") accounted for 15% of total game revenue, which was approximately $0.72 mn, an increase of 11% quarter-over-quarter and 379% over the same period last year. MMO revenues benefited from the continued popularity and growth in the user base of "Tian Jie", one of the leading mobile online games in China. Revenue from downloadable offline games accounted for 85% of total game revenue, which was approximately $4.22 mn, an increase of 106% quarter-over- quarter and 293% over the same period last year. Downloadable mobile game revenues increased significantly during the quarter as the Company continued to broaden our distribution channels, including our cooperation with Nokia.

Wireless internet service revenues were $0.98 mn in 1Q09, representing an increase of 24% from 4Q08 and 309% increase from the same period last year. For 1Q09, wireless internet service revenues included revenues from wireless advertising as well as from premium services on the Kong.net wireless Internet site, including virtual item sales and cross-selling of our mobile game and WVAS services. Previously, wireless Internet services revenues were mainly from wireless advertising.

Gross Profit

WVAS gross profit increased slightly in 1Q09 to $11.19 mn compared to $11.05 mn in 4Q08, a 22% increase compared to the same period last year or $9.20 mn.