November 10, 2008 08:10 ET

China INSOnline Corp.'s Subsidiary Acquires Insurance Agency Company

BEIJING--(Marketwire - November 10, 2008) - China INSOnline Corp. (NASDAQ: CHIO) (the "Company"), an integrated licensed insurance services provider operating a leading industry web portal www.soobao.cn in the People's Republic of China, announced that its wholly owned subsidiary, Rise and Grow Limited, and its variable interest entity, ZYTX Technology Co., Ltd acquired an insurance agency company in China to promote and enlarge the insurance business under our portal www.soobao.cn in a consideration of RMB40 million ($5,828,062) in cash. For details, please see the Company's Form 8-K filed with the SEC on November 3, 2008.

Mrs. Betty Xu, Chief Executive Officer of China INSOnline Corp., commented, "We are very committed to becoming China's top insurance portal. This acquisition provides us with more resources and insurance products to serve our customers instantly."

Mr. Hon Man Yun, COO and Treasurer, noted, "While we are focused on optimizing the effectiveness of our efforts in China, we are also looking for opportunities to accomplish our plans for growth."

Mr. Zhenyu Wang, Chairman of the Board, elaborated, "The completion of this acquisition provides further evidence that the Company is moving forward with our plans for growth."

About China INSOnline Corp.:

China INSOnline Corp., incorporated in Delaware and headquartered in Beijing, is a rapidly growing licensed insurance agency in The People's Republic of China. Representing major insurance underwriting firms in China, the Company offers online automobile, property and life insurance services through its industry web portal, www.soobao.cn. The Company's online platform also provides consumers, agents and insurance companies with online transaction capabilities, advertising, online inquiry, news circulation, statistical analysis and software development services. For more information, please visit www.china-insonline.com.

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning the Company's operations, financial performance and condition. For this purpose, statements that are not statements of historical fact may be deemed to be forward-looking statements. The Company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, but not limited to, the impact of competitive products, pricing and new technology; changes in consumer preferences and tastes; and effectiveness of marketing; changes in laws and regulations; fluctuations in costs of production, and other factors as those discussed in the Company's reports filed with the Securities and Exchange Commission from time to time. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

No securities regulatory authority has either approved or disapproved the contents of this news release.