SEEK LIMITED — Earnings Release 2008

Aug 17, 2008

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MEDIA RELEASE

18 August 2008

SEEK announces Full Year 2008 Financial Results

SEEK continued strong revenue and profit growth

SEEK Limited, the leader in the online employment market in Australia and New Zealand, today announced full year results for the period ending 30 June 2008, with Net Profit After Tax of $76.3M, an increase of 38% on prior corresponding period.

	Full Yearending June2008	Full Yearending June2007	Growth
Sales Revenue(1)	$210.2M	$157.0M	34%
EBITDA(2)	$109.8M	$80.3M	37%
EBITDA Margin	52%	51%	-
NPAT	$76.3M	$55.5M	38%
Earnings Per Share	26.6 cents	19.6 cents	36%
Final Dividend	9.9 cents	7.7 cents	29%
Full Year Dividend	18.6 cents	13.7 cents	36%

(1) Excludes Interest Income

(2) Excludes AIFRS Employee Share Options Expense

Commenting on the results Joint CEO, Mr Paul Bassat said: “Our focus on key drivers of growth remains consistent resulting in continued strong financial results.”

“Growth in the Australian and New Zealand employment business has been driven by ongoing migration from print to online, a growing presence in SME, Healthcare, Education and Government markets, improved yield and the introduction of product extensions through Standout & Premium Ads”.

“SEEK continues to benefit from its clear market leadership position in terms of brand recognition and job seeker metrics when compared to its competitors. A record 52% of job seekers now have a preference to search for a job online, which is more than double the preference for newspapers. More than 77% of job seekers time is now

spent on SEEK, and over the past 12 months we have increased job ad volumes by more than our two closest competitors combined.”

“Looking ahead, we remain confident of growing our profitability in the current financial year, driven by the continued migration from print to online, a growing presence in new markets, improved yield and the continued growth of our Learning business.”

Mr Andrew Bassat, Joint CEO said: “SEEK now has a diverse presence in education and training domestically, delivering strong organic financial growth over the past 12 months. With increased sales capability and new content partnerships, SEEK Learning had a strong second half, and with continued leverage of the SEEK brand we expect this momentum to continue.”

“Our investment in IDP is delivering well ahead of expectations, with an implied EV/EBITDA ratio of 2.3 for our investment. Further, the buyout of the remaining IELTS minority (International English Language Testing business) is a key strategic achievement for IDP, enabling further growth and operational synergies between the two businesses”.

“Our strategy to invest and build the Zhaopin brand is delivering fantastic results; online revenue growth over the last 12 months of 115% exceeding the market leader’s growth of 36%. Zhaopin is increasing market share and is now on a par with it’s competitors on key job seeker metrics.”

“We continue to aggressively pursue our strategy to look for other international opportunities”.

The board has declared a final dividend of 9.9c per share, fully franked, an increase of 29% from the corresponding period last year. This is in line with current dividend policy and will be paid on 17 October 2008 to shareholders who are registered at 12 September 2008.

For further information or to arrange an interview please contact:

Paul Bassat or Andrew Bassat Joint Chief Executive Officers SEEK Limited Tel: (03) 8517 4240

Nicole Gentle Reputation Ph: (02) 8252 7003 Mob: 0421 848 428 ngentle@reputation.net.au

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