PRESS RELEASE
(March 18, 2004)
Tiger Technology Increases Ownership Position in MatchNet plc
LOS ANGELES, CA– MatchNet plc, one of the largest providers of online personals worldwide, has announced that certain funds managed by Tiger Technology Management LLC, an equity management group based in the United States, and MatchNet’s largest shareholder, have purchased 1.5 million shares from MatchNet’s founders and co-chairmen, Joe Shapira and Alon Carmel.
As previously announced, funds managed by Tiger Technology now own an aggregate of 34.6 percent of the Company’s outstanding share capital. Tiger Technology has acquired these shares for investment purposes only.
Until June 30, 2005 (and subject to certain exceptions), Tiger Technology, and its affiliates, have agreed to vote 1.5 million shares as directed by Mr. Carmel, or his designate, in the event of any vote by the shareholders of MatchNet on the appointment, confirmation or removal of a member of MatchNet’s Board of Directors and that any further purchases of the shares of MatchNet, by Tiger Technology and its affiliates, will be subject to the approval of MatchNet’s Board of Directors.
About MatchNet plc:
MatchNet plc is one of the world’s largest providers of online dating services. 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.comTM, CollegeLuvTM.com, Date.caTM, and FaceLink®.com. MatchNet was incorporated in England in 1998. More information is available at www.MatchNet.com
For More Information:
Media: Gail Laguna
+ 1 323 836 3000 ext. 815
Gail@MatchNet.com
Investors: Elmar Bob
+ 49 69 74 09 37 88
Elmar@MatchNet.com