New Work SE

M&A Activity • Oct 1, 2007

News Details

Ad-hoc | 1 October 2007 00:18

XING AG disposes of its subsidiary First Tuesday AG, Zurich

XING AG / Disposal

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Hamburg, September 30, 2007 – Tonight XING AG (ISIN: DE000XNG8888) signed a
management buyout agreement of its subsidiary company First Tuesday AG,
Zurich for a purchase price of 1 CHF. XING AG’s primary motivation for
signing this agreement is the optimization of its costs structure. In the
first half year of 2007, First Tuesday AG, Zurich showed losses totaling
approximately 490,000 euros a figure which has already been largely reduced
in the restructuring process.

All relevant activities realized by the Swiss subsidiary company have
already been successfully integrated into XING AG’s daily business
operations at its company headquarters in Hamburg. The necessary expertise
has been recruited for the long-term internally and incorporated into
existing structures in the area of online community.

Important note:

This notice contains forward-looking statements concerning company
activities, business and member development, financial results of the XING
AG and/or the industry in which the company is active. These
forward-looking statements can generally be identified by words such as
'estimates', 'assumes', 'expects', 'plans', 'intends', 'predicts',
'targets', 'anticipates', and variations of these words and similar
expressions. The forward-looking statements contained in this notice, as
well as estimates, opinions, and views of the company or information
provided by third parties, are based on current plans, estimates,
anticipations, and predictions, and involve certain uncertainties and
risks. Therefore, actual future results, developments and trends may differ
materially from what is forecast in the forward-looking statements
contained in this notice. The company does not assume any responsibility
for such risks, and makes no guarantee as to the accuracy and completeness
of the assumptions and estimates upon which the forward-looking statements
are based, nor does the company or its bodies ensure the correctness of the
statements contained in this press release. Information and statistics from
external sources should not be interpreted as having been inspected by the
company. Neither the company nor its bodies undertake any obligation to
update or publicly release any revision to the forward-looking statements
contained within this notice.

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Information and Explaination of the Issuer to this News:

About XING:

XING makes your professional network an active part of your life. Far more
than a directory of business contacts, XING enables its members to discover
professional people, opportunities and privileges through its unique
discovery capability and advanced contact management tools. With the
successful IPO of XING as the first Web 2.0 company to go public,
XING AG has had a long-term impact on the social networking trend amongst
professionals. By focusing on the target group 'business people worldwide',
the company is able to offer tailored features, thereby making networking
and contact management simpler. Besides Headquarters in Hamburg, XING AG is
also represented with offices in Barcelona (eConozco, Neurona) and
Beijing.

Contact:

Daniela Hinrichs
VP Corporate Communications
Gaensemarkt 43
20354 Hamburg
Germany
Phone +49 40 419131-19
Fax +49 40 419131-11
investor-relations@xing.com

01.10.2007 Financial News transmitted by DGAP

Language: English
Issuer: XING AG
Gänsemarkt 43
20354 Hamburg
Deutschland
Phone: +49 (0)40 419 131-10
Fax: +49 (0)40 419 131-11
E-mail: investor-relations@xing.com
Internet: www.xing.com
ISIN: DE000XNG8888
WKN: XNG888
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in
Berlin, Düsseldorf, München, Stuttgart

End of News DGAP News-Service

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