BEIJING, CHINA, July 7, 2006 – Sohu.com Inc. (Nasdaq: SOHU), China's leading
online media, search and mobile value-added services company, announced today
that Sohu's Board of Directors has appointed Mary Ma to Sohu's audit committee,
effective July 6, 2006, to fill a vacancy in the audit committee resulting from
Tom Gurnee's not having stood for re-election at Sohu's annual meeting of
stockholders held on June 9, 2006. Ms. Ma, who is an existing member of Sohu's
Board of Directors, also holds the Executive Director, Senior Vice President,
and Chief Financial Officer of Lenovo Group Limited.
On June 30, 2006, Sohu received a letter from Nasdaq's Listing Qualifications
Department stating that, because of the vacancy in its audit committee, Sohu was
not in compliance with Nasdaq's Marketplace Rule 4350(d)(2) regarding audit
committee composition. On July 6, 2006, Sohu received a second letter from
Nasdaq's Listing Qualifications Department stating that the Listing
Qualifications Department had determined that, with the appointment of Ms. Ma to
its audit committee, Sohu is in compliance with Rule 4350(d)(2).
About Sohu.com Sohu.com Inc. (NASDAQ: SOHU) is China's
premier online brand and indispensable to the daily life of millions of Chinese,
providing a network of web properties and community based/web 2.0 products which
offer the vast Sohu user community a broad array of choices regarding
information, entertainment and communication. 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; #1 online alumni club
www.chinaren.com; #1 games information portal www.17173.com; the top real estate
website www.focus.cn; wireless value-added services provider
www.goodfeel.com.cn; and leading online mapping service provider
www.go2map.com.
Sohu corporate services consist of brand advertising on its matrix of
websites as well as paid listing and bid listing on its in-house developed
search directory and engines. Sohu also offers two types of consumer services.
Sohu offers wireless value-added services such as news, information, music,
ringtone and picture content sent over mobile phones. The company also operates
two massively multi-player online role-playing games as well as a casual game
platform. Sohu.com, established by Dr. Charles Zhang, one of China's Internet
pioneers, is in its tenth year of operation.
Safe Harbor Statement 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, the uncertain
regulatory landscape in the People's Republic of China, fluctuations in Sohu's
quarterly operating results, Sohu's historical and possible future losses and
limited operating history, and the company's reliance on online advertising
sales, wireless services (most wireless revenues are collected from a few mobile
telecom operators), and online games 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, 2005, Quarterly Report on Form 10-Q for the
quarter ended March 31, 2006, and other filings with the Securities and Exchange
Commission.
Sohu.com Contact Information Jessica Zhang Senior
Manager Investor Relations and Corporate Communications Tel: +86 10 6272
6596 E-mail:
ir@contact.sohu.com http://corp.sohu.com
|