China Digital TV Announces Pricing of Initial Public Offering

China Digital TV Announces Pricing of Initial Public Offering

October 05, 2007

    BEIJING, Oct. 5 /Xinhua-PRNewswire-FirstCall/ -- China
Digital TV Holding Co., Ltd. (NYSE: STV) ("China
Digital TV"), the leading provider of conditional
access ("CA") systems to China's rapidly growing
digital television market, announced today that its initial
public offering of 12,000,000 American Depositary Shares
(ADSs) was priced at $16.00 per ADS. The ADSs, each
representing one ordinary share, will begin trading on the
New York Stock Exchange on October 5, 2007 under the symbol
"STV."

    The offering consists of ADSs to be issued by China
Digital TV. China Digital TV has granted the underwriters a
30-day option to purchase up to an additional 1,800,000 ADSs
to cover over-allotments.

    Morgan Stanley and Credit Suisse acted as joint book
runners for this offering, and Piper Jaffray, CIBC World
Markets and Needham & Company, LLC, acted as
co-managers for the offering.

    The United States Securities and Exchange Commission
has declared China Digital TV's registration statement
relating to these securities to be effective. This news
release shall not constitute an offer to sell or a
solicitation of an offer to buy the securities described
herein, nor shall there be any sale of these securities in
any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of
any such state or jurisdiction.

    The offering of the securities is made only by means of
a prospectus. A copy of the prospectus relating to the
offering may be obtained by contacting Morgan Stanley &
Co. Incorporated, 180 Varick Street, New York, New York
10014; Attention: Prospectus Department or by email at
[e-mail]; or by contacting Credit
Suisse Securities (USA) LLC, Attn: Prospectus Department,
One Madison Avenue 1B, New York, NY 10010; phone:
1-800-221-1037.

    About China Digital TV

    Founded in 2004, China Digital TV is the leading
provider of conditional access (CA) systems to China's
rapidly growing digital television market. As of June 30,
2007, China Digital TV had installed CA systems at 130
digital television network operators in 26 of the 32
provinces, autonomous regions and centrally administered
municipalities in the PRC. China Digital TV conducts
substantially all of its business through Beijing Super TV
Co., Ltd., its operating subsidiary in China, and through
Beijing Novel-Tongfang Digital TV Technology Co., Ltd., a
PRC company that China Digital TV controls through
contractual arrangements. For more information please visit
China Digital TV's IR website at http://ir.chinadtv.cn .

    For investor and media inquiries, please contact:

    In China:

    Helen Wu
    Senior Manager of Investor Relations
    Tel:    [phone]
    Email:  [e-mail]

    Helen Plummer
    Ogilvy Public Relations Worldwide (Beijing)
    Tel:    [phone]
    Email:  [e-mail]

    In the United States:

    Mr. Jeremy Bridgman
    Ogilvy Public Relations Worldwide (New York)
    Tel:    [phone]
    Email:  [e-mail]