By Expedia Guest Author, on August 7, 2007

eLong, Inc. Reports Resignation of Audit Committee Member

BEIJING, Aug. 6 /PRNewswire-FirstCall/ — eLong, Inc. (NASDAQ: LONG) (“eLong” or the “Company”), a leading online travel service provider in China, today reported that David Goldhill has resigned as a member of the audit committee of the board of directors of the Company effective July 30, 2007. Mr. Goldhill, who served as the chair of the audit committee, indicated that his resignation was prompted by the Company’s advice that, as a result of his having accepted a position as the chief executive officer of a company under common control with eLong, he is no longer considered “independent” under NASDAQ’S Marketplace Rules, and therefore can no longer serve on the audit committee.

 

On August 1, 2007, eLong received a letter from NASDAQ’s Listing Qualifications Department stating that, due to Mr. Goldhill’s resignation, the Company no longer complies with the requirement set forth in NASDAQ Marketplace Rule 4350 that the audit committee of a NASDAQ-listed company be composed of at least three members. The letter also indicated, however, that consistent with Marketplace Rule 4350(d)(4), NASDAQ would provide the Company with a cure period in order to regain compliance, until the earlier of the Company’s next annual meeting of shareholders or July 30, 2008 or, if the Company’s next annual meeting of shareholders is held before January 28, 2008, then no later than January 28, 2008.

 

eLong has initiated a search to find a suitable replacement for Mr. Goldhill, and expects that the vacancy on the audit committee caused by Mr. Goldhill’s resignation will be filled prior to the end of the cure period provided by NASDAQ.

 

About eLong, Inc.

 

eLong, Inc. (NASDAQ: LONG) is a leading online travel company in China. Headquartered in Beijing, eLong has a national presence across China. eLong uses web-based distribution technologies and a 24-hour call center to provide consumers with access to travel reservation services. Aiming to enrich people’s lives through the freedom of independent travel, eLong empowers consumers to make informed choices by providing a one-stop travel solution and consolidated travel tools and information such as maps, virtual tours and user ratings. eLong has the capacity to fulfill air ticket reservations in over 55 major cities across China. In addition to choice of a wide hotel selection in the Greater China region, eLong offers Chinese consumers the ability to make bookings at international hotels in over 140 destinations worldwide. eLong operates the websites http://www.elong.com/ and http://www.elong.net/.

 

Safe Harbor Statement

 

The statement in this press release concerning eLong’s expectation as to its ability to find a suitable replacement for David Goldhill on its audit committee prior to the end of the cure period provided by NASDAQ is a “forward-looking” statement 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. This forward looking statement is based upon management’s current views and expectations with respect to future events and is not a guarantee of future performance, and there can be no assurance that eLong will in fact be successful in locating a suitable replacement before the end of the cure period. Risk factors that could affect eLong’s ability to find a suitable replacement include a shortage of qualified persons who are willing to serve on the audit committee of a publicly-traded company. Readers are cautioned not to place undue reliance on this forward-looking statement, which speaks only as of the current date.

 

SOURCE: eLong, Inc.

 

CONTACT: Katie Deines of Expedia, Inc., +1-425-679-4317,
press@expedia.com, for eLong, Inc.</br/>

 

Web site: http://www.elong.com/
http://www.elong.net/ </br/>