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Changyou.com Announces its 2011 Annual Report on Form 20-F is Available on the Company’s Website

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Beijing, China, February 29, 2012 – Changyou.com Limited (“Changyou” or the “Company”) (NASDAQ: CYOU), a leading online game developer and operator in China, today announced that it filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2011 with the Securities and Exchange Commission on February 28, 2012.  The Annual Report is available on the “Investor Relations” section of the Company’s Website at http://www.changyou.com/ir. The Company will also provide a hard copy or electronic copy of the Annual Report free of charge to its shareholders upon request. Requests should be directed to Changyou’s Investor Relations Department by email at ir@cyou-inc.com or by mail at Investor Relations Department, Changyou.com Limited, East Tower, Jing Yan Building, 29 Shijingshan Road, Shijingshan District, Beijing, People’s Republic of China, 100043.

About Changyou

Changyou.com Limited (NASDAQ: CYOU) is a leading developer and operator of online games in China with a diverse portfolio of online games that includes Tian Long Ba Bu, one of the most popular massively multi-player online (“MMO”) games in China, and DDTank, one of the top-ranking Web-based games in China. Changyou also owns and operates the 17173.com Website, a leading game information portal in China. Changyou began operations as a business unit within Sohu.com Inc. (NASDAQ: SOHU) in 2003, and was carved out as a separate, stand-alone company in December 2007. It completed an initial public offering on April 7, 2009. Changyou has an advanced technology platform that includes advanced 2.5D and 3D graphics engines, a uniform game development platform, effective anti-cheating and anti-hacking technologies, proprietary cross-networking technology and advanced data protection technology. For more information, please visit http://www.changyou.com/ir/.

For investor and media inquiries, please contact:

In China:

Ms. Angie Chang
Investors Relations
Changyou.com Limited
Tel:       +86 (10) 6861-3688
E-mail: ir@cyou-inc.com

In the United States:

Mr. Jeff Bloker
Christensen
Tel:       +1 (480) 614-3003
E-mail:   jbloker@ChristensenIR.com