RECRUIT (8073.HK) Launches Recruit Wednesday Editions, Expands Advertising Team Following Signing of Media Representative Agreements

Hong Kong's major recruitment media Recruit Holdings announces the debut of a new Wednesday edition of Recruit. The GEM Board listed company will also expand its advertsing team as the company concluded media representative agreements with Ta Kung Pao and China Daily for their announcement advertisements.

Hong Kong, January 26, 2003 - Leading recruitment media Recruit Holdings Limited (HKGEM: 8073) announces the debut of a new Wednesday edition of Recruit (Recruit ¸¹¥~ª©) on January 22, 2003. Including this special edition, Recruit now publishes three editions every week on Tuesdays, Wednesdays and Fridays, with a total weekly printrun of 200,000.

Mr Vincent Cheung Wing-hung, Managing Director of Recruit Holdings noted: "Our current weekly printrun of 200,000 will be increased during the peak season from mid-February to April. The decision to launch the Wednesday edition was based on the robust advertising sales figures we recorded in recent months. The new edition, which does not carry content, gives us an effective new platform to capture the currently untapped demand in the market."

Recruit Holdings also plans to add four sales executives to its advertising team following the Company¡¦s expansion into media representative businesses. It has recently concluded media representative agreements with Ta Kung Pao and China Daily for their announcement advertisements. The agency arrangements with Ta Kung Pao and China Daily are on an exclusive basis, for initial terms of five and three years respectively with effect from March 2003. Discussions are ongoing between Recruit Holdings and the two media companies for the compilation of cost-effective bundled media plans for the increasing cost-conscious listed companies.

Mr Cheung added: "Our dominant presence in Hong Kong and strong brand equity give us a lot of leverage for further developments in Hong Kong and China. We will explore the feasibility of new business models in recruitment related sectors, and as a first step, we plan to re-activate our Mainland operations. The strengthened advertising team will support our quest for new business opportunities."

The Company is in active discussions with a number of Mainland companies with a view to re-introducing Recruit to Guangzhou in the third quarter of 2003. Economists gave an estimate of 6-8 million new job creations per year based on China¡¦s target GDP growth of 8%. This, coupled with the 10 million job vacancies a year from retirees and a total of 5.5 million jobs created by foreign firms over the past five years, translates to a significant market for talents search.

"Employment will remain the top priorities of Chinese and Hong Kong governments. The gradual opening up of various industries in China after its accession to the WTO, as well as the emergence of an integrated Pearl River Delta manufacturing and logistics zone, will lead to new job opportunities. We believe Recruit has a major role to play in the future recruitment market of these places," concluded Mr Cheung.

About Recruit Holdings

Recruit Holdings Limited (HKGEM: 8073) is a leading recruitment media based in Hong Kong. Its core operations include the publication of Recruit magazine, a premier careers-oriented title. With a printrun of 200,000, Recruit is well known for its massive database of jobs and proven ability to provide the most efficient and convenient channel for bridging the gap between talent and career. Recruit Holdings aims to become the leading recruitment media and services firm in Greater China.

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