UTStarcom appoints Wendong Zhang to its Board of Directors

– CHINA, Hangzhou – UTStarcom Holdings Corp. (NASDAQ:UTSI), today announced that Mr. Xiaoping Li resigned from his position as a member of the Board of Directors of UTStarcom. His resignation also vacates positions on the Audit Committee, the Compensation Committee, and Chairman of the Nominating and Corporate Governance Committee. His resignation is effective as of November 21, 2017. Mr. Li has no disagreement with the Company.

Following Mr. Li’s resignation, Ms. Wendong Zhang was appointed as a member of the Board, the Audit Committee, the Compensation Committee, and the Nominating and Corporate Governance Committee of the Board. Ms. Zhang is the designee for Beijing E-town International Investment Development Co., Ltd. (“BEIID”), pursuant to the stockholders rights agreement entered into by and between the Company and BEIID on February 1, 2010. In addition, Mr. Hongliang Lu, currently an independent director of the Company and Chairman of the Compensation Committee, was appointed to serve as Chairman of the Nominating and Corporate Governance Committee of the Board.

Ms. Zhang received an MBA degree from the Graduate University of Chinese Academy of Sciences. She earned a Bachelor degree in Economics at Minzu University of China. Ms. Zhang has rich experience in the areas of investment and financial management, strategic management and organization restructuring. Since 2015, she has been the assistant to the general manager of Beijing E-town International Investment & Development Co., Ltd., as well as to the leaders of its subsidiaries. Before that, she had various management roles at Beijing E-town, Orient Cultural Asset Management Co., Ltd. and Sheng Andi Investment Management Consulting Co., Ltd.

“I am delighted that Ms. Zhang has joined our board and look forward to working with her as we continue driving growth in our core business. Also, I would like to thank Mr. Li for his leadership and dedication to UTStarcom since 2010. We wish him the very best in all his future endeavors,” said Himanshu Shah, Chairman of the Board of Directors.

About UTStarcom Holdings Corp.

UTStarcom is a global telecom infrastructure provider dedicated to developing technology that will serve the rapidly growing demand for bandwidth from cloud-based services, mobile, streaming, and other applications. We work with carriers globally, from Asia to the Americas, to meet this demand through a range of innovative broadband packet optical transport and wireless/fixed-line access products and solutions. The Company’s end-to-end broadband product portfolio, enhanced through in-house Software Defined Networking (SDN)-based orchestration, enables mobile and fixed-line network operators and enterprises worldwide to build highly efficient and resilient future-proof networks for a range of applications, including mobile backhaul, metro aggregation, broadband access and Wi-Fi data offload. Our strategic investments in media operational support service providers expand UTStarcom’s capabilities in the field of next generation video platforms. UTStarcom was founded in 1991, started trading on NASDAQ in 2000, and has operating entities in Hong Kong; Tokyo, Japan; San Jose, USA; Delhi and Bangalore, India; Hangzhou, China.

For more information : http://www.utstar.com

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