Jobsite News

We are delighted to share some exciting news: From today (12/03/04) Jobsite is part of Associated New Media, a division of Associated Newspapers Ltd (DMGT), the publishers of the Daily Mail and the Evening Standard.

A copy of the full press release can be read below. If you are a client and would like to discuss this further please call your Account Manager on 0870 7748500.

12 March 2004

Daily Mail group acquires Jobsite

Associated New Media (ANM), a division of Associated Newspapers Ltd (DMGT), the publishers of the Daily Mail, today announced it has acquired Jobsite, the UK's leading multi-sector online job board, as part of its ongoing strategy to develop a powerful portfolio of digital media properties.

The £35 million deal represents a strategic move for both parties and will see the Jobsite business continue to operate as a standalone operation. Both recruiters and job-hunters will benefit from the combined resources and skills offered by the two companies.

The benefits DMGT bring will accelerate Jobsite's growth, according to Keith Potts, managing director of Jobsite. "We share a clear picture of the digital future for recruitment advertising. By joining forces with a FTSE 100 media player we will create the market leading online recruitment company. With more and more recruiters using both print and Internet to fulfil their recruitment needs, this partnership will enable us to offer a more complete solution."

"Jobsite is a rare gem, an online company that has been profitable for 9 years thanks to the quality and experience of the team" commented Andrew Hart, managing director of ANM. "This acquisition is a key element of our strategy to build specialist vertical services online which complement our broad-reach print and online content products. Exposing the Jobsite brand to millions of our readers will advance their position as the leading online recruitment solution. This deal is a demonstration of ANM's serious intention in the online classified marketplace."

The UK's online recruitment market continues to experience dramatic growth and is forecast to double in size by 2008 to £200m. Online recruitment advertising revenues increased 43% year on year in the first three quarters of 2003 and the Internet has grown to 7% of the overall recruitment advertising market in the UK . This places DMGT in a perfect position to take full advantage of the growth in the online recruitment market.

The deal will see Jobsite become a fully owned subsidiary of Associated New Media. CCP Ltd, the specialist staffing corporate finance boutique initiated and coordinated the acquisition.

- Ends -

Editor's notes

For further information, please contact:
Louise Andrews / Catriona Biggart / Emma Robinson
Cohn & Wolfe
Tel: 020 7331 5464/ 0207 331 5356/ 0207 331 5358
Email: Louise_Andrews@uk.cohnwolfe.com
Email: catriona_biggart@uk.cohnwolfe.com

About Jobsite
E-recruitment specialist Jobsite UK Worldwide Ltd brings together millions of job hunters and thousands of leading employers and agencies each year through its Jobsite.co.uk, CityJobs and Conkers services. Award-winning Jobsite.co.uk is the UK's original multi-sector online recruitment site and has consistently led the recruiter and job hunter markets since it was established in 1995 attracting over 1.6 million unique visits each month. The company is based in Havant, Hampshire and has over 80 employees. CityJobs is one of the UK's top specialist recruitment sites, and specialises in delivering high value candidates to the financial sector. Recruitment software company, Conkers, leads the multi-posting technology market, and distributes over 2 million vacancies a year to over 700 recruitment sites. (www.jobsite.co.uk)

About DMGT
DMGT was incorporated in 1922 but has origins dating back to the launch of the Daily Mail in 1896. It is one of the largest and most successful media companies in the UK and has interests around the world in national and regional newspapers, television, radio, exhibitions and information publishing. (www.dmgt.co.uk)

About Associated New Media
Associated New Media (ANM) is the digital publishing division of Associated Newspapers Ltd, one of Britain's premier national newspaper groups, which publishes the Daily Mail, The Mail on Sunday, Evening Standard and Metro. Launched in 1995, ANM publishes some of the UK's most successful new media resources and services such as thisislondon.co.uk, thisismoney.co.uk, londonjobs.co.uk, thisistravel.co.uk and is due to launch dailymail.co.uk in 2004. (www.anm.co.uk)

About Continental Capital Partners Ltd (CCP)
CCP is a Services Sector Focused Corporate Finance boutique, which works on specialist staffing, travel and professional services transactions in the UK and Continental Europe. CCP is based in London (www.ccpltd.net). Contact Roger Luscombe 0207 630 2010.