MatchNet plc

euro adhoc: MatchNet plc
Quarterly or Semiannual Financial Statements
MatchNet® plc Reports Record Revenues In First Quarter 2003 (E)

--------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------- Subscriptions Drive 75% Revenue Growth Over Q1 2002 LOS ANGELES, CA - (May 30, 2003) - MatchNet plc (MHJG: Frankfurt Stock Exchange - Prime Standard), one of the largest providers of online personals worldwide, today reported first quarter results for the period ended March 31, 2003. Revenues increased 75% to $7,361,433 in Q1 2003, compared to $4,215,663 in Q1 2002. Increase in revenues is primarily attributed to growth in membership and improving conversion of members into paying subscribers. Operating expenses were $3,098,502 in Q1 2003, or 42% of revenues compared to $2,108,162, or 50% of revenues in Q1 2002. The decrease in operating expenses as a percent of revenue reflects the scalable nature of MatchNet’s online subscription-based business model and improved operating efficiencies. EBITDA1 was $99,840 in Q1 2003 compared to $1,093,167 in Q1 2002. The decrease is primarily due to the launch of an aggressive online marketing campaign. Net loss in Q1 2003 was $782,313 compared with net income of $915,936 in Q1 2002. The net loss for the quarter includes depreciation and amortisation charges of $342,733 which, when combined with a change in the Company’s accounting of member acquisition costs2, resulted in a total of $933,572 in non-cash charges for the quarter. Before the change in accounting policy, the net loss in the first quarter 2003 was $191,474. About MatchNet plc: With over twelve million members worldwide, MatchNet plc is one of the largest providers of online dating services. The MatchNet network includes, FaceLink®.com,,, and In addition, the Company operates JDate®.com &, the dominant Jewish dating services worldwide; gay11®.com, an online dating service for relationship-minded gay men and women; and, an exciting new online destination for the college-age demographic. MatchNet was incorporated in England in 1998. More information is available at end of announcement euro adhoc 30.05.2003 --------------------------------------------------------------------- Further inquiry note: Elmar Bob VP of Investor Relations Branche: Online ISIN: US5766601042 WKN: 930129 Index: Prime Standard Börsen: Frankfurter Wertpapierbörse / regulated dealing Niedersächsische Börse zu Hannover / free trade Berliner Wertpapierbörse / free trade Bayerische Börse / free trade Hamburger Wertpapierbörse / free trade Bremer Wertpapierbörse (BWB) / free trade Börse Düsseldorf / free trade Baden-Württembergische Wertpapierbörse / free trade

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