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MatchNet plc

euro adhoc: MatchNet plc
Management Changes
MATCHNET WITHDRAWS PLANS FOR U.S. OFFERING DAVID SIMINOFF APPOINTED AS NEW CEO POSITIVE ADJUSTED EBITDA EXPECTED (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
BEVERLY HILLS, Calif., August 12, 2004 - MatchNet plc, a leading
provider of online personals, today announced it has withdrawn plans
for the initial public offering of its common stock in the U.S.  The
company cited a faltering market for Internet-related IPOs and said
it would reconsider a U.S. offering next year if market conditions
improved.  The company said it has formally withdrawn the Form S-1
registration statement it had previously filed with the U.S.
Securities and Exchange Commission.
Concurrent with the announcement, MatchNet said Todd Tappin, the
company’s president and chief executive officer, has resigned to
pursue a new business opportunity, but will remain on the company’s
board of directors. The company announced the appointment of David
Siminoff, who has served on MatchNet’s board since February, as its
new CEO.
Mr. Siminoff brings extensive Internet commerce experience to his new
post.  He spent almost 10 years in executive capacities with Capital
Group’s Capital Research unit.  At Capital Group, which is one of the
world’s largest and most successful investment management firms, Mr.
Siminoff was responsible for both research analysis and portfolio
management in the media and Internet technologies sectors.  He holds
an undergraduate degree and an M.B.A. from Stanford University, and
an M.F.A. from the University of Southern California Film School.
MatchNet said that with work related to the prospective IPO now
behind it, the company would focus the full weight of its
organization on the core business and put in place a cost reduction
initiative. The company therefore reiterated the full-year 2004
guidance it previously provided to investors, saying it expected to
generate revenue between $65-70 million and achieve positive adjusted
EBITDA 1). The company also said it has been informed by Messrs.
Shapira, Carmel and Siminoff that they intend, subject to applicable
legal requirements, to purchase shares of MatchNet on the Frankfurt
Stock Exchange.
1)  Adjusted EBITDA represents net income before interest income,
income tax expense, depreciation and amortization, non-cash stock
based compensation, plus items we consider to be unusual or otherwise
not indicative of our ongoing "core" operation.
About MatchNet plc
MatchNet plc is a leading provider of online personals. MatchNet is
traded on the Frankfurt Exchange under the symbol "MHJG." The
Company’s Global Depository Shares trade under the symbol "MHNZF".
The MatchNet network includes AmericanSingles®.com, JDate®.com,
JDate.co.il, MatchNet.de, MatchNet.co.uk, MatchNet.com.au,
Glimpse.com®, CollegeLuvTM.com, Date.caTM, and FaceLink®.com.  More
information is available at www.MatchNet.com
IR Contact:
Ken Ross		   	
+ 1 323 658 3010    	 
kross@matchnet.com
end of announcement        euro adhoc 12.08.2004

Further inquiry note:

Elmar Bob
Tel.: +49 (69) 74 09 37 88
Fax: +49 (69) 74 09 37 87
E-Mail: elmar@matchnet.com

Branche: Online
ISIN: US5766601042
WKN: 930129
Index: Classic All Share, Prime All Share, Prime Standard, SDAX
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

Plus de actualités: MatchNet plc
Plus de actualités: MatchNet plc