MOBI Sky-Mobi Limited ADS (MM)

Sky-mobi Limited (Nasdaq:MOBI) ("Sky-mobi" or the "Company"), a leading mobile application store and mobile social network community operator in China, today announced that its annual general meeting will be held at 9:00 am (China Standard Time) on December 5, 2011 at Wynn Macau Hotel, Rua Cidade de Sintra, NAPE, Macau, China.

The primary agenda of the meeting is to re-elect Mr. Michael Tao Song and Mr. Li Ou as the Company's directors, and to appoint Deloitte Touche Tohmatsu as the Company's independent registered public accounting firm for the fiscal year ending March 31, 2012.

Only shareholders of record at the close of business on October 21, 2011 are entitled to receive notice and to vote at the annual general meeting and any adjournment. Holders of the Company's American Depository Shares who wish to exercise their voting rights for the underlying shares must act through the depository. Shareholders are cordially invited to attend the annual general meeting.

A notice of the annual general meeting describing the matters to be considered at the meeting is available on Sky-mobi's website at http://www.sky-mobi.com. The Company's 20-F for the year ended March 31, 2011 is also available online.

Shareholders of the Company may obtain a hard copy of 20-F free of charge upon request. Please send a request by email to ir@sky-mobi.com, or in writing to:

10/F, Building B, United Mansion

No. 2 Zijinghua Road

Hangzhou, Zhejiang 310013

People's Republic of China

Attention: Ms. Feifei Wang

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms or other comparable terminology. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Potential risks and uncertainties include the effectiveness, profitability and marketability of the Company's solutions; the Company's limited operating history; measures introduced by the PRC government and mobile network operators aimed at the telecommunications industry and mobile applications-related services; the Company's ability to maintain cooperation relationships with handset companies, content providers and payment service providers; its dependence on mobile service providers, and ultimately mobile network operators, for the collection of a substantial majority of its revenues; billing and transmission failures, which are often beyond the Company's control; its ability to compete effectively; its ability to capture opportunities in the expected growth of the smart phone market; its ability to obtain and maintain all applicable permits and approvals; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements are based on current expectations, assumptions, estimates and projections about the Company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.

About Sky-mobi Limited:

Sky-mobi Limited operates the leading mobile application store in China as measured by revenues in 2010, according to Analysys International. The company works with handset companies to pre-install its Maopao mobile application store on handsets and with content providers to provide users with applications and content titles. Users of its Maopao store can browse, download and enjoy a range of applications and content, such as single-player games, mobile music and books. The Company's Maopao store enables mobile applications and content to be downloaded and run on various mobile handsets with different hardware and operating system configurations. The company also operates a mobile social network community in China, the Maopao Community, where it offers mobile social games, as well as applications and content with social network functions to its registered members. The Company is based in Hangzhou, the People's Republic of China. For more information, please visit: www.sky-mobi.com.

The Sky-mobi Limited logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8458

CONTACT: Sky-mobi Limited
         Mr. Carl Yeung, CFO
         Phone: +(86) 571-87770978 (Hangzhou)
         Email: ir@sky-mobi.com
         
         CCG Investor Relations
         Elaine Ketchmere, Partner and VP
         Phone: +(1) 310-954-1345 (Los Angeles)
         Email: elaine.ketchmere@ccgir.com