BEIJING, CHINA, December 9, 2003 - SOHU.com (NASDAQ: SOHU),
China's leading online media, communications, commerce and mobile value-added
services company, today announced that Derek Palaschuk, Chief Financial Officer
and Senior Vice-President Finance, has decided he wants to leave SOHU next year
and has so informed the Company. Derek Palaschuk has agreed to stay with the
Company until a suitable replacement has been found and to spend some time
overlapping with his successor.
“We thank Derek for his tremendous contributions to SOHU in the past three
and one half years and understand his wish to move to Shanghai and be united
with his family. He's been with us since before the initial public offering,
through three acquisitions, a convertible bond issue and the implementation of
the Sarbanes-Oxley Act. We wish Derek success in his continuing career,” Charles
Zhang, Chairman and CEO of SOHU, said.
Safe Harbor Statement This announcement contains
forward-looking statements. We may also make written or oral forward-looking
statements in our periodic reports to the Securities and Exchange Commission on
Forms 10-K, 10-Q, 8-K, etc., in our annual report to shareholders, in our proxy
statements, in press releases and other written materials and in oral statements
made by our officers, directors or employees to third parties. Statements that
are not historical facts, including statements about our beliefs and
expectations, are forward-looking statements. These statements are based on
current plans, estimates and projections, and therefore you should not place
undue reliance on them.
Forward-looking statements involve inherent risks
and uncertainties. We caution you that the events described in this press
release should not be interpreted as having any material effect on SOHU's
revenues or profitability. We further caution you that a number of important
factors could cause actual results to differ materially from those contained in
any forward-looking statement. Potential risks and uncertainties include, but
are not limited to, SOHU’s historical and possible future losses, limited
operating history, uncertain regulatory landscape in the People's Republic of
China, fluctuations in quarterly operating results, and the company's reliance
on online advertising sales, e-subscriptions (most of which are collected from a
few telecom operators) and e-commerce for its revenues. Further information
regarding these and other risks is included in SOHU's Annual Report on Form 10K
for the year ended December 31, 2002, Quarterly Report on Form 10Q for the
quarter ended September 30, 2003 and other filings with the Securities and
Exchange Commission.
About SOHU.com SOHU.com is the leading Internet portal in
Mainland China with current daily page views exceeding 12 million. It provides
navigation/search, news, sports, business and finance, real estate channel,
entertainment, chat, email and e-commerce activities for a solid and wide base
of visitors. Dr. Charles Zhang founded SOHU.com in 1997. Its investors include
Intel, Dow Jones, IDG, the Morningside China Group, PCCW, Legend and Hikari. Its
content partners include CNET, DOW Jones and dozens of local media organizations
in China.
For further information: Dahlia Wei SOHU Investor
Relations and Communications Tel: +86 10 6272 6598 E-mail:
ir@sohu-inc.com
http://www.sohu.com/about/English/ |