BEIJING, CHINA, May 31, 2005 -
SOHU.com (NASDAQ: SOHU), China's leading online media, communications, commerce
and mobile value-added services company, announces the appointments of Mr. Shi
Wang and Dr. Dave Qi to its Board of Directors. The appointments are effective
immediately.
Mr. Wang is the Chairman of China Vanke Co., Ltd. Mr. Wang was Chairman and
General Manager from 1991 to 1999. He founded “Shenzhen Exhibition Center of
Modern Science and Education Equipment” in 1984, which is the predecessor to
China Vanke Co., Ltd. Mr. Wang is the Executive Manager of China Real Estate
Association and is Deputy Director of the City Housing Development Council of
China Real Estate Association. One of China’s most respected entrepreneurs, Mr.
Wang has been an avid user of SOHU's online web properties for many years.
Dr. Qi is a Professor of Accounting and the Executive MBA & Executive
Development Program's Academic Director of the Cheung Kong Graduate School of
Business. Before joining Cheung Kong Graduate School of Business, Dr. Qi was an
Associate Professor at School of Accounting of the Chinese University of Hong
Kong. He has a Ph.D. in accounting from the Eli Broad Graduate School of
management of Michigan State University, a Master of Business Administration
from University of Hawaii at Manoa, a Bachelor of Science and a Bachelor of Arts
from Fudan University. Dr. Qi is currently a member of the American Accounting
Association. Dr. Qi will join the Audit Committee of the SOHU Board of
Directors.
“We welcome the addition of the two new members to the Board. We expect that
Mr. Wang’s corporate management expertise and Dr. Qi’s extensive academic and
financial experience will complement the Board's oversight of SOHU. We highly
value their support in expanding our business and brand leadership in the
rapidly growing Chinese Internet industry,” said Charles Zhang, Chairman and CEO
of SOHU.
Safe Harbor Statement This announcement contains
forward-looking statements. 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 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, wireless services (most wireless
revenues are collected from a few mobile telecom operators), online games and
e-commerce for its revenues. Further information regarding these and other risks
is included in SOHU's annual report on Form 10-K for the year ended December 31,
2004, and other filings with the Securities and Exchange Commission.
About SOHU SOHU.COM Inc. (NASDAQ: SOHU) is China's
premier online brand and indispensable to the daily life of millions of Chinese
who use the portal network for their news, search, e-mail, wireless messaging,
instant messaging, browsing, games and shopping. SOHU has built one of the most
comprehensive matrices of Chinese language web properties and proprietary search
engines, consisting of the mass portal and leading online media destination
www.sohu.com; interactive search engine www.sogou.com; the #1 online alumni club
www.chinaren.com; #1 games information portal www.17173.com; top real estate
website www.focus.cn; and wireless value-added services provider
www.goodfeel.com.cn. This network of web properties offers the vast SOHU user
community very broad choices regarding information, entertainment, communication
and commerce. SOHU corporate services consist of online advertising on its
matrix of websites as well as paid listing and bidding listing on its in-house
developed search directory and engine. SOHU also offers three types of consumer
services. SOHU offers wireless value-added services such as news, information,
ringtone and picture content sent over mobile phones. The company also operates
two massively multi-player online role-playing games and manages a
business-to-consumer e-commerce platform. SOHU.COM, established by Dr.
Charles Zhang, one of China's Internet pioneers, is in its ninth year of
operation.
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/ |