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SPRD Spreadtrum, Communications Inc.

Current Share Price:

MuddyWaters
Initial Report Date（2011/06/28）Share Price:26.250 delisted

Open Letter to SPRD Chairman re: MW Concerns

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Muddy Waters, LLC has begun researching Spreadtrum, Communications Inc. (NASDAQ: SPRD), and we have taken a short position in it. (Please see our disclaimer below.) We have identified a number of issues in SPRD’s filings, and we believe that there is a high risk of material misstatement in the reported financials. Our concerns are gravest regarding 2010 and 2011 numbers.

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