For Immediate Release May 29, 2002 JobsDB.com and China Job Online to jointly form the first Asia Pacific online recruitment network spanning China Guangzhou, 29 May 2002: JobsDB.com and China Job Online (CJOL.com) have reached an agreement whereby JobsDB will initially take up approximately 40% interest in CJOL. Further investment is anticipated to finance the development of a national network in China over the next few years. The combined network will give jobseekers and employers the first online recruitment network with coverage throughout the Asia Pacific including its largest market - China. JobsDB.com Chairman and Chief Executive Officer, Mr. Samuel Sung, believes that the alliance is a major milestone for JobsDB.com's expansion into China. The company already operates the largest online recruitment network in Asia Pacific covering 11 markets. "With China's entry into WTO, focus will be on China as the largest human resources market in the world. Through this alliance, JobsDB is able to offer a combined database of approximately two million job seekers in the region to global and China employers." Mr. Sung said. The alliance is expected to help open up the China job market to overseas job seekers and facilitate cross-border candidate searches for HR professionals. JobsDB's existing 50,000 corporate client base will also bring significant career opportunities to China job seekers. Mr. Sung said the combined network will overcome the common difficulties foreign and international companies have in recruiting Mainland employees due to a lack of information and limited recruitment channels. "As one of China's leading job sites, CJOL is undoubtedly an ideal partner for JobsDB.com in its important move into China," added Mr. Sung. CJOL, as one of the leading job sites in China, commands a leadership position in online recruitment in Southern China and is already serving a large database of job seekers and corporate clients. Mr. Qiu Cheng Fu, CJOL's Chairman, said he expects the combined network will further accelerate traffic to CJOL's web site over the coming months. "This alliance will provide CJOL the opportunity of becoming the first international online job site in China to serve both local and overseas recruitment needs. It will enable CJOL to reach out not only to corporations and job seekers in China but also to provide overseas job opportunities for job seekers in China and recruitment services to corporations for both local and overseas recruitment. It also allows CJOL to bring in new technology and enhanced recruitment services for Chinese job seekers and HR professionals," Mr. Qiu said. Mr. Qiu further added, "With China's WTO entry, the demand for highly skilled talents will increase. This includes talents from overseas that will enable Chinese corporations to synchronize with international trade and practices. Top quality recruitment services will be very much in demand. We are confident that with CJOL's excellent local support, this tie up with Jobs DB.com will be beneficial and fruitful to both parties." About JobsDB.com Operating from a database of over 50,000 corporate members with over 1.3 millions job seekers, covering 11 markets, JobsDB.com is Asia Pacific's leading interactive recruitment network. By harnessing the speed and global reach of the Internet, JobsDB.com has designed and developed a powerful recruitment medium, which brings employers and job seekers together and allows them to interact directly for fast, efficient and cost effective recruitment. Established in 1998, JobsDB.com has been expanding rapidly, its network spans Hong Kong, Australia, India, Indonesia, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, the United States and now China, through the alliance with CHINAJOBONLINE. For more information on JobsDB.com, please visit : www.jobsdb.com About China Job Online CJOL.com was initiated by Shenzhen Xibu Market of Human Resources in June 1998. As one of the first human resources websites in China, CJOL.com has become "The Best HR Website in China" (source: Computer Week), and is currently still maintaining its leadership position among the professional human resources websites. Todate, CJOL services more than 55,000 employer members and over 500,000 job seekers. CJOL.com and Shenzhen West Headhunter regularly organize successful job fairs known as "The Golden Collar World" which have been very well received. For more information on CJOL, please visit: www.chinajobonline.com Issued on behalf of JobsDB.com