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Beijing, China, March 29, 2013 – Changyou.com Limited (“Changyou” or the “Company”) (NASDAQ: CYOU), a leading online game developer and operator in China, today announced that it will begin open beta testing of Dou Po Cang Qiong, a self-developed 2.5D fantasy MMORPG, on April 10, 2013.

Dou Po Cang Qiong is a 2.5D fantasy MMORPG that has been under development by Changyou for the past 3 years. The game is adapted from the popular online novel of the same name. Using the specially tailored PyroEnigma game engine and other new technologies, the game recreates classic elements in the novel including Yi Huo (PyroEnigma), Dou Qi Continent, and Alchemy. The game version intensifies the usage of Dou Qi skills, allowing players who have reach a required level to evolve their own “Wings of Dou Qi” and giving them access to mid-air combat. In this game, players can control Yi Huo of various types just as the main characters in the novel do, experiencing the intense combat among the numerous forces of the unique Dou Qi Continent.

Mr. Xiaojian Hong, Changyou’s chief operations officer, commented, “We continue to expand our portfolio of MMO games with the upcoming launch of our new in-house developed game, Dou Po Cang Qiong. The game recreates the Dou Qi Continent from the novel from which the game was adapted, enabling players to experience the unique glamour of the Dou Qi world. We expect the game to attract new players with its interesting and innovative gameplay, ultimately further expanding our user base.”

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 and Wartune (also known as Shen Qu), which are two popular web 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://ir.changyou.com/.

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