January 7, 2016, Ctrip (Nasdaq: CTRP) (hereinafter referred to as "Ctrip") announced that it will use convertible bonds to makeMyTrip (Nasdaq: MMYT), India's largest online travel company (hereinafter referred to as "MakeMyTrip") Investment 1.USD 800 million。 Also，MakeMyTrip allows Ctrip to purchase a certain number of shares in the open market，Making the number of MakeMyTrip shares including the convertible bonds accounting for the total number of MakeMyTrip 188bet app shares outstanding up to 26.6%。After the investment is completed，Ctrip will gain the right to appoint a director to MakeMyTrip’s board of directors。

Deep Kalra，MakeMyTrip founder and group CEO said: "We are delighted with Ctrip's investment。Ctrip is an important leader in China’s online travel market。We believe there are many similarities between the Indian and Chinese online travel markets。The establishment of this strategic relationship will benefit both parties。”

“Today’s announcement marks the beginning of a strategic relationship between Ctrip and MakeMyTrip。Through this investment，Ctrip begins to occupy a place in India's fast-growing online travel market。” Co-founder of Ctrip、Said Liang Jianzhang, Chairman of the Board and Chief Executive Officer。

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