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Planet Payment Inc.
Aug 02,2018

KanKan AI Forms Partnership with University of Electronic Science and Technology of China to Advance AI Research and Development

LAS VEGAS, Aug. 2, 2018 /PRNewswire/ -- Remark Holdings, Inc. (NASDAQ: MARK), a diversified global technology company with leading artificial intelligence (AI) solutions and digital media properties, including Vegas.com, today announced that the Company has formed a strategic cooperative agreement with the School of Information and Software Engineering at the University of Electronic Science and Technology of China to jointly establish a school-enterprise laboratory for AI research and development.  The two parties will work together to research ways to optimize and compress deep-learning models so that they can be run on lower-cost hardware with more efficient power consumption and strong performance.  This collaborative partnership boosts KanKan's research and development resources and gives the university access to KanKan's cognitive computing platform for academic research and the development of new technological applications.

"We're proud to collaborate with leading institutions like the University of Electronic Science and Technology of China to advance AI research and develop new applications that utilize our cognitive computing platform," said Kai-Shing Tao, Chairman and Chief Executive Officer of Remark Holdings. "This partnership will provide us with added resources to help us continue to develop accessible AI solutions that solve problems, reduce risk and deliver positive outcomes across multiple industries.  We look forward to the launch of our school-enterprise laboratory and working together with the university to strengthen our technology and develop new innovative solutions.  We expect more school-enterprise collaborations to come in China, Europe and U.S."

The School of Information and Software Engineering at the University of Electronic Science and Technology of China has a leading computer science doctoral program and has long been engaged in system software and industry application research.  Some of the research results have been successfully deployed in areas such as airborne, satellite, smart TV, railway systems and network terminals.

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About Remark Holdings, Inc.
Remark Holdings, Inc. (NASDAQ: MARK) delivers an integrated suite of AI solutions that enable businesses and organizations to solve problems, reduce risk and deliver positive outcomes.  The company's easy-to-install AI products are being rolled out in a wide range of applications within the retail, financial, public safety and workplace arenas.  The company also owns and operates digital media properties that deliver relevant, dynamic content and ecommerce solutions. The company is headquartered in Las Vegas, Nevada, with additional operations in Los Angeles, California and in Beijing, Shanghai, Chengdu and Hangzhou, China. For more information, please visit the company's website at www.remarkholdings.com.

Forward-Looking Statements
This press release may contain forward-looking statements, including information relating to future events, future financial performance, strategies, expectations, competitive environment and regulation. Words such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and similar expressions, as well as statements in future tense, identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, including those discussed in Part I, Item 1A. Risk Factors in Remark Holdings' Annual Report on Form 10-K and Remark Holdings' other filings with the SEC. Any forward-looking statements reflect Remark Holdings' current views with respect to future events, are based on assumptions and are subject to risks and uncertainties. Given such uncertainties, you should not place undue reliance on any forward-looking statements, which represent Remark Holdings' estimates and assumptions only as of the date hereof. Except as required by law, Remark Holdings undertakes no obligation to update or revise publicly any forward-looking statements after the date hereof, whether as a result of new information, future events or otherwise.

Company Contact:
Kai-Shing Tao
Remark Holdings, Inc.
stao@remarkholdings.com
702-701-9514

Investor Relations Contact:
Colton Krueger
The Plunkett Group, Inc.
Colton@ThePlunkettGroup.com
210-602-4078

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SOURCE Remark Holdings, Inc.