UPDATE: Bona Film Group Announces Chair, CEO Mr. Yu Dong to Buy 21st Century Fox's Stake in Bona Film, Will Pay $5.90/ADS

Bona Film Group Limited ("Bona" or the "Company") BONA, a leading film distributor and vertically integrated film company in China, and Fosun Group (Fosun International Limited, 00656.HK, and its subsidiaries) ("Fosun"), announced that Fosun has agreed to purchase an additional 13.3% interest in the Company. Fosun, which owned 7.5% of Bona prior to this transaction, is a leading investment group based in China with worldwide operations. Its principal business operations include insurance, industrial operations, property development, media and entertainment, investment and asset management. Under the investment agreement, Fosun will acquire 4,165,926 Bona ordinary shares, representing approximately a 13.3% equity stake in the Company, from Bona's Founder, Chairman and CEO, Mr. Yu Dong, at a price of $11.80 per share, or $5.90 per American Depositary Share. Following the close of the transaction, Mr. Yu and Fosun will own approximately 32.3% (including 2.7% from stock options) and 20.8%, respectively, of the Company's ordinary shares outstanding. The transaction is expected to close in the next two weeks and is subject to customary closing conditions. "We are delighted to announce this additional strategic investment by Fosun, one of the largest, most diverse enterprises in China," said Mr. Yu Dong. "With its extensive resources, strong investment and management track record both in China and internationally, Fosun has proven to be a valued strategic partner to Bona since its initial investment in 2013. This additional investment by Fosun will further contribute to Bona's efforts in achieving its ambitious strategic goals across all segments, and speaks to Fosun's commitment to the entertainment industry as a whole as well as its recognition of Bona as the industry leader in China with strong potential going forward. The Chinese film is proving to become increasingly important internationally, and we hope to seize this valuable opportunity to become one of the top players in the global market." "China has already become the world's second largest motion picture market, and is expected to be the largest market in the next few years," said Mr. Guo Guangchang, Chairman of Fosun. "This additional investment is another strategic foothold for Fosun in the global movie and entertainment industry. Bona has a unique vertically-integrated business model and an experienced and professional management team in the field. Our partnership will combine the resources of Fosun and Bona to capture attractive opportunities in the fast growing domestic movie industry, as well as the opportunities that will emerge through the cooperation in the movie business between the United States and China."