Three year strategic advertising agreement with SINA signed, and to day announced that both have entered into definitive agreements by which eLong will acquire Shanghai Xinwang Computer Technology Co., Ltd. and its affiliate Bravado Investments Limited which together are engaged in the business of providing online and offline hotel booking services in the People's Republic of China ("PRC") under the Fortune Trip brand name. eLong expects the deal to close during its second quarter ending June 30, 2005.

Fortune Trip is one of the largest hotel consolidators in China and has its head office in Shanghai, China. During the year ended December 31, 2004, Fortune Trip's customers booked approximately 250,000 hotel rooms through its call center and online via SINA's hotel channel. Fortune Trip has a national hotel network of 1,600 hotels.

eLong and SINA separately announced they have entered into a three year strategic advertising cooperation agreement whereby eLong will become SINA's exclusive hotel bookings partner in the PRC upon the closing of the Fortune Trip transaction. During this period, SINA and eLong will operate a co-branded online hotel booking channel, and eLong will receive advertising placements on SINA's website including SINA's travel channel, which is located at tour.sina.com.cn. The co-branded hotel channel will be located at sina.elong.com.

"Through this acquisition we believe eLong will enhance our competitive position especially in Eastern China, increase our hotel volumes and strengthen our management team. We are especially pleased that at closing, Wu Hai, Fortune Trip's founder and one of China's most seasoned travel executives, will be joining eLong as a Vice President and Wu Hai will be joined at eLong by the Fortune Trip management team," said Justin Tang, Chairman and Chief Executive Officer of eLong.

"We are pleased for the next three years to be teaming up with eLong, one of China's leading online travel companies, to provide our growing user base access to eLong's high quality hotel, air and vacation package products," said Wang Yan, Chief Executive Officer of SINA.

eLong's Safe Harbor Statement

Statements in this press release concerning eLong's future business, operating results and financial condition are "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 Private Securities Litigation Reform Act of 1995. These statements are based upon management's current views and expectations with respect to future events and are not a guarantee of future performance.

Furthermore, these statements are, by their nature, subject to a number of risks and uncertainties that could cause actual performance and results to differ materially from those discussed in the forward-looking statements as a result of a number of factors. Factors that could affect the Company's actual results and cause actual results to differ materially from those included in any forward-looking statement include, but are not limited to, eLong's historical operating losses, its limited operating history, declines or disruptions in the travel industry, the recurrence of SARS, eLong's reliance on having good relationships with hotel suppliers and airline ticket suppliers, collection risk with respect to eLong's corporate travel accounts receivable, the possibly that eLong will be unable to timely comply with Section 404 of the Sarbanes-Oxley Act of 2002, the risk that eLong will not be successful in competing against new and existing competitors, risks associated with IAC's investment in eLong and the integration of eLong's business with that of IAC's, changes in eLong's management team and other key personnel and other risks outlined in eLong's filings with the U.S. Securities and Exchange Commission (or SEC), including eLong's registration statement on Form F-1 filed with SEC in connection with eLong's IPO and eLong's Form 6-K filed with the SEC in connection with this press release. eLong undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.