Changyou.com (NASDAQ: CYOU) is a leading developer and operator ofonline games in China. We began operations in 2003 as Sohu.com’smassively multi-player online games (“MMORPG”) business unit, beforeour carve-out as a separate, stand-alone company in December 2007 andsubsequent listing on the NASDAQ Global Select Market in April 2009. Wenow operate one of the most popular MMORPGs in China, and have enjoyedstrong growth in user data and revenues for our games. Our leadingin-house technology platform includes an advanced 2.5D graphics engine,a uniform game development platform, effective anti-cheating andanti-hacking technologies, proprietary cross-networking technology andadvanced data protection technology.