Robbins Geller Rudman & Dowd LLP ("Robbins Geller") (http://www.rgrdlaw.com/cases/camelot/) today announced that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Camelot Information Systems Inc. ("Camelot") (NYSE:CIS) American Depositary Shares ("ADSs") between July 21, 2010 and August 17, 2011 (the "Class Period"), including those who acquired Camelot ADSs pursuant or traceable to the Company's false and misleading Registration Statements and Prospectuses issued in connection with its July 21, 2010 initial public offering ("IPO") and December 10, 2010 Secondary Offering ("Secondary Offering") (collectively, the "Offerings").

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Darren Robbins of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at djr@rgrdlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.rgrdlaw.com/cases/camelot/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges Camelot, certain of its officers and directors and the underwriters of the Offerings with violations of the Securities Act of 1933 and the Securities Exchange Act of 1934. Camelot is a holding company that conducts business through its operating subsidiaries in China. The Company is a provider of enterprise application services and financial industry information technology ("IT") services in China.

The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's business practices and financial results. Specifically, defendants failed to disclose negative trends in Camelot's business, including with Camelot's most important customers. As a result of defendants' false statements, Camelot ADSs traded at artificially inflated prices during the Class Period, reaching a high of $26.73 per share on January 11, 2011.

On July 21, 2010, Camelot announced the pricing of its IPO of 13.3 million ADSs at $11.00 per ADS. Subsequently, on December 9, 2010, Camelot announced the pricing of its Secondary Offering of 7,160,206 ADSs by selling shareholders at $19.50 per ADS. The complaint alleges that the Registration Statements issued in connection with the Offerings were inaccurate and misleading and omitted to state material facts required to be stated therein.

On August 15, 2011, Seeking Alpha published an article questioning several key components of Camelot's business. This caused Camelot's ADSs to drop to below $9 per share. Then on August 18, 2011, Camelot issued a press release announcing its second quarter 2011 unaudited financial results, including lower-than-expected guidance for fiscal 2011. On this news, Camelot's ADSs dropped $2.24 per share to close at $6.32 per share on August 18, 2011, a one-day decline of 26%.

According to the complaint, the true facts, which were known by the defendants but concealed from the investing public during the Class Period, were as follows: (a) the Company's IT professionals were not a competitive advantage to the Company and many were dissatisfied with Camelot, which would adversely affect Camelot's ability to retain its customers; (b) the Company was suffering from undisclosed attrition of employees, which was having a negative impact on the Company's ability to attract new customers; (c) Camelot did not have the large numbers of highly trained professionals at its disposal that it had represented; and (d) Camelot's contract with its most important customer, IBM, was not as solid as represented, and would not be renewed on the same terms.

Plaintiff seeks to recover damages on behalf of all purchasers of Camelot ADSs during the Class Period, including purchasers in the IPO and Secondary Offering (the "Class"). The plaintiff is represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Robbins Geller, a 180-lawyer firm with offices in San Diego, San Francisco, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Robbins Geller Web site (http://www.rgrdlaw.com) has more information about the firm.

Robbins Geller
Darren Robbins, 800-449-4900 or 619-231-1058
djr@rgrdlaw.com