Chinese insurance company receives acquisition proposal from BVI company

On May 14, 2011, Cninsure Inc., an independent insurance intermediary company operating in China and listed on Nasdaq, received a preliminary non-binding proposal letter from TPG Asia V MU, Inc., Kingsford Resources Limited, a company registered in the British Virgin Islands, and CDH Inservice Limited, to acquire all of the outstanding ordinary shares of the company. The shares are to be purchased in a going private transaction for US$19.00 per ADS, or US$0.95 per ordinary share, in cash, subject to certain conditions.

The Board of Directors is reviewing and evaluating the proposal, there can be no assurance that any definitive offer will be made, any agreement will be executed or this or any other transaction will be approved or consummated.

Cninsure Inc. is distributing a wide variety of property and casualty and life insurance products underwritten by domestic and foreign insurance companies operating in China, and provides insurance claims adjusting as well as other insurance-related services.

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