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Changyou.com to Report First Quarter 2009 Financial Results on May 4, 2009

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Beijing, China, April 27, 2009 - Changyou.com Limited ("Changyou" or the "Company") (NASDAQ: CYOU), a leading online game developer and operator in China, today announced that it will report its first quarter 2009 unaudited financial results before the U.S. markets open on Monday, May 4, 2009.

Changyou's management team will host an earnings conference call on May 4, 2009 at 7 a.m. U.S. Eastern Daylight Time (7 p.m. Beijing/Hong Kong time on May 4, 2009) following the quarterly results announcement.

Dial-in details for the earnings conference call are as follows:

US: +1-866-362-4829
Hong Kong: +852-3002-1672
International: +1-617-597-5346

Please dial in 10 minutes before the call is scheduled to begin and provide the passcode to join the call. The passcode is "CYOU."

A replay of the conference call may be accessed by phone at the following number until May 11, 2009:

International: +1-617-801-6888
Passcode: 81001157

Additionally, a live and archived webcast of the conference call will be available at http://www.changyou.com/ir/.

About Changyou

Changyou.com Limited ("Changyou") (NASDAQ: CYOU) is a developer and operator of online games in China. Changyou currently operates two MMORPGs, including the in-house developed Tian Long Ba Bu and the licensed Blade Online. Changyou has three pipeline games scheduled to begin open beta testing in 2009 and 2010, including the in-house developed Duke of Mount Deer, as well as the licensed Immortal Faith and Legend of the Ancient World.

For investor and media inquiries, please contact:

In China:
Mr. Yaobin Wang
Investors Relations Manager
Changyou.com Limited
Tel: +86 (10) 6272-7777
E-mail: ir@cyou-inc.com

Mr. Derek Mitchell
Ogilvy Financial, Beijing
Tel: +86 (10) 8520-6284
E-mail: derek.mitchell@ogilvy.com

In the United States:
Mr. Thomas Smith
Ogilvy Financial, New York
Tel: +1 (212) 880-5269
E-mail: thomas.smith@ogilvypr.com