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topjobs.net Issues Spectacular Figures

topjobs.net plc Wednesday announced third quarter figures that show spectacular growth.

Unique visits to the topjobs.net Web site were up by 379 per cent on the year, while the number of registered job seekers increased to 0.44 million, up 31 per cent over the previous quarter and a massive 593 per cent year on year.

Most importantly in the eyes of the market, topjobs.net's revenues for the third quarter reached £1.4 million ($2.38 million), an increase of 231 per cent over the same quarter in the previous year.

The results are all the more impressive because during the quarter (to December 31, 1999) topjobs.net discontinued its operations in the United States, resulting in a one-time write-down of goodwill costing £0.42 million ($0.67 million).

Speaking of the abortive U.S. venture, Chief Operating Officer Brian Mosley said that topjobs.net established a presence in select markets in February 1999 with the aim of assessing their potential.

"On review, we decided to discontinue our U.S. operation and redirect our resources to markets that hold the most potential for generating meaningful revenues for our company, and that advance our growth strategy."

The strategy appears to be paying off, with topjobs.net spending heavily to boost its brand in the U.K., Ireland and Switzerland, while also establishing it in newer markets such as Sweden, Norway and The Netherlands.

Mosley said that topjobs.net had significantly broadened its European reach this quarter by opening in The Netherlands where the Internet reaches 15 per cent of the population.

"There is an increasing demand by employers, including from many large Dutch and Dutch-based multinationals, for the type of Internet-based recruitment services provided by our company," said Mosley.

The last quarter figures do not tell the whole story, however. During January 2000, traffic to the Top Jobs on the Net web sites was up 80 per cent on December 1999.

topjobs.net's flagship site in the U.K., topjobs.co.uk, showed a 125 per cent increase in January traffic compared to the previous month, indicating that the growth is not coming just from new sites.

Top Jobs on the Net has a partnership with AOL Europe which came into effect at the beginning of this year.



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