GUANGZHOU, China, Nov. 20 /PRNewswire-Asia-FirstCall/ -- 7 Days Group Holdings Limited ("7 Days Group" or the "Company") (NYSE: SVN), a leading economy hotel chain based in China, announced today that its initial public offering of 10,100,000 American Depositary Shares ("ADSs"), each representing three ordinary shares, was priced at an initial offering price of US$11.00 per ADS. All of the 10,100,000 ADSs sold in this offering were sold by 7 Days Group. The gross proceeds from the sale of the ADSs are approximately US$111.1 million. The ADSs are expected to begin trading on November 20, 2009 on The New York Stock Exchange under the symbol "SVN."

7 Days Group has granted the underwriters a 30-day option to purchase up to an additional 1,515,000 ADSs to cover over-allotments.

The Company intends to use the net proceeds from this offering to repay outstanding indebtedness under its senior notes, to fund working capital and for other general corporate purposes, which may include the expansion of its hotel chain and the improvement of existing leased-and-operated hotels.

J.P. Morgan Securities Inc. and Citigroup Global Markets Inc. are acting as the joint bookrunners for this offering.

The Company's registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering of the securities is made only by means of a written prospectus forming a part of the effective registration statement. A copy of the prospectus related to this offering may be obtained by calling: J.P. Morgan Securities Inc. (+1-866-803-9204 (for prospectus) or +1-866-430-0686 (for free writing prospectus only)) or Citigroup Global Markets Inc. (+1-800-831-9146).

About 7 Days Group Holdings Limited

7 Days Group is a leading and fast growing national economy hotel chain based in China. It converts and operates limited service economy hotels across major metropolitan areas in China under its award-winning "7 Days Inn" brand. The Company strives to offer consistent and high-quality accommodations and services primarily to the growing population of value-conscious business and leisure travelers who demand affordable, clean, comfortable, convenient and safe lodging, and to respond to its guests' needs.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties that could cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Further information regarding these and other risks is included in 7 Days Group's filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1, as amended from time to time. 7 Days Group does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

    For more information, please contact:

    7 Days Group Holdings Limited
     Eric Haibing Wu, Chief Financial Officer
     Tel: +86-20-8922-5251

    Investor Relations (HK):
     Ruby Yim, Managing Director
     Taylor Rafferty
     Tel: +852-3196-3712

    Investor Relations (US):
     Mahmoud Siddig, Director
     Taylor Rafferty
     Tel: +1-212-889-4350

SOURCE 7 Days Group Holdings Limited

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