SEEK LIMITED — Earnings Release 2010

Aug 23, 2010

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SEEK DELIVERS RECORD FINANCIAL RESULTS

Revenue of $280.9m, EBITDA of $117.4m & NPAT of $89.5m

SEEK Limited, today announced revenue of $280.9m, EBITDA of $117.4m and NPAT of $89.5m for the 12 months to 30 June 2010. Compared to the prior year, this represents revenue growth of 35%, EBITDA growth of 20% and NPAT (reported) growth of 62%.The strong result was achieved due to sustained growth in the Employment Business, strong growth from SEEK Education & Brasil Online and a reduction of losses in Zhaopin.

Highlights of the Full Year Result include:

	12 months to June 2009	12 months to June 2010	Change from
			pcp
Operating	$208.8m	$280.9m	35%
Revenue(1)
Adj EBITDA(2)	$97.8m	$117.4m	20%
Norm NPAT	$55.3m	$83.1m(3)	50%
Reported NPAT	$55.3m	$89.5m	62%
Earnings Per Share	18.8 cents	26.6 cents	41%
Final Dividend	4.7 cents	6.7 cents	43%
Full Year Dividend	9.2 cents	11.9 cents	29%

• 1) Excludes interest income

• 2) Excludes AIFRS Employee Share Options Expense

• 3) Normalised NPAT excludes the fair value gain related to the acquisition of shares in JobStreet

Commenting on the results, Joint CEO Paul Bassat said: “SEEK has experienced sustained and consistent month on month growth in job ads. Online job ad volume growth is outpacing growth in print job ads on a pcp basis.[1] This reflects the trend of continued structural migration from print to online with online now capturing approximately 80 per cent[2] of all job ads.

SEEK holds market leadership and is the preferred choice for jobseekers with a record 3.9 million unique browsers[3] in June. Those jobseekers account for nearly eight out of every ten minutes Australians spend searching for jobs online, with SEEK being the market leader in Australia and New Zealand across all key metrics.”

1 ANZ Job Advertisement Series showing prior corresponding growth in print and online job ads over the last 12 months

2 ANZ Job Advertisements Series (July 2010) – Note for Print, the average number of job advertisements per week has been multiplied by 4.33 (52/12) to better facilitate the comparison with the average number of internet job ads

3 Nielsen Net Ratings Market Intelligence June 2010

Reflecting SEEK’s market position and sustained growth, SEEK’s employment business across Australia and New Zealand achieved a strong revenue result of $94.3m and EBITDA of $52.7m for the 6 months to 30 June 2010. This represents growth in revenue of 20% and growth in EBITDA of 30% compared to the result for the 6 months to 31 December 2009.

Paul Bassat believes SEEK is well positioned for further growth “There are still segments in the market where SEEK is under-penetrated and the majority of job ad spend still resides in print. If the current labour market trajectory continues expect SEEK to be the primary beneficiary given its market leading position and exposure to favourable structural trends.”

Mr Andrew Bassat, Joint CEO said SEEK Education[4] had realised an impressive financial performance with revenue growth of 36% and EBITDA growth of 41% for the 12 months to 30 June 2010.

“The performance of SEEK’s Education business continues to be strong with this being the fourth year of substantial growth. SEEK Learning is the number one online career destination for education & training, THINK is a leading private provider of education and IDP is the global leader in international student recruitment.”

Andrew Bassat also stated that SEEK’s outlook for sustained long-term growth was further supported by its overseas investments in fast growing, emerging economies. “SEEK has leading positions in exciting emerging markets which provide us with a substantial growth platform.”

“SEEK recently announced the acquisition of 40% of OCC Mundial (“OCC”) the number one online job site in Mexico. We are confident in the prospects of OCC given its market position, excellent management team and exposure to the fast growing Mexican economy. Brasil Online Holdings (30 per cent owned by SEEK) own the top two employment websites, (Catho & Manager Online) in Brazil and continues to perform strongly. Brasil Online achieved impressive performance in key metrics and strong financial results. We expect continued strong financial performance whilst also investing in growth opportunities”

“Zhaopin continued its recent trend of rapidly reducing losses and growing its market share in Tier 1 and Tier 2 markets. Zhaopin achieved positive EBITDA months from March to May and SEEK continues to be confident of Zhaopin’s growth prospects. Furthermore, SEEK owns 22.4% of JobStreet which recently achieved record quarterly revenue and operating profit results”

“Given the combined growth opportunities in Employment in Australia & New Zealand, SEEK’s Education businesses and our International investments, SEEK has diverse options to drive future earnings growth.”

For the final FY10 dividend, the Board has increased its dividend pay-out ratio from 45% to 50%. The Board has declared a final dividend of 6.7 cents per share fully franked which will be paid on the 15 October 2010 with a record date of 16 September 2010.

For further information or to arrange an interview please contact:

Paul or Andrew Bassat Michael Davey Joint Chief Executive Officers SEEK Limited SEEK Limited (03) 8517 4152 (03) 8517 4240 0400 888 120

4SEEK Education comprises SEEK Learning (100%), THINK (100%) and IDP (50%). The revenue for IDP has been included on a “look through basis.” However, for SEEK’s statutory accounts, IDP does not form part of SEEK’s consolidated Revenue & EBITDA.