Giant Interactive Picks Up New Russian Game

Giant Interactive (NYSE: GA) announced that it has signed an exclusive agreement with Mail.Ru, an internet portal and online game publisher in Russia, to operate Allods Online, a free-to-play massively multiplayer online role playing game ("MMORPG") developed by Astrum Nival, a studio owned by Mail.Ru, in mainland China. With a development budget of $12 million, it is the best-funded Russian game development project ever. Over the coming months, Giant will localize and tailor the game to Chinese gamers' preferences in advance of expected commercial launch in late 2010.