OPEN Business Club AG buys leading Spanish contact network for high-quality business contacts
2007-03-26 19:58:41.0

OPEN Business Club AG / Acquisition

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, March 26, 2007 – OPEN Business Club AG (International Securities
Identification Number: DE000XNG8888), operator of the international
networking platform XING (www.xing.com), has completed a 100% acquisition
of eConozco, one of the leading Spanish contact networks for professionals.
eConozco is the second-largest Spanish contact network with approximately
150,000 members, and until the acquisition was one of four Internet
services businesses operated by the Spanish company Grupo Galenicom TI
S.L.. eConozco has grown on average by approximately 11 percent a month
over the last half year and offers professional networking for the
Spanish-speaking community around the globe. Since its founding, the
company has been aimed towards 'business professionals', making the
eConozco member base very similar to that of XING.

The network has already reached a critical mass in the Spanish-speaking
market with approximately 150,000 users, a point at which the effects of
viral growth by personal member recommendations assume a dynamic character.
The acquisition will allow XING to rapidly increase its presence in the
Spanish-speaking market, and to increase its presence in key Spanish
economic centers. In addition to its strong position in Spain, eConozco
also boasts significant usage and membership from South American users.

OPEN Business Club AG believes that current eConozco members, who now use
the platform free-of-charge, will be increasingly willing to pay for the
additional functions offered by XING. New XING members upgrade to a Premium
Membership after an average of 150 days, choosing to pay €5.95 a month for
the additional benefits of the premium service. OPEN Business Club AG
expects the eConozco acquisition to have a non-material effect on operating
results in the 2007 financial year.

Initially, eConozco will be run as a subsidiary of OPEN Business Club AG by
Albert Armengol, one of the founders of the Spanish-speaking network. OPEN
Business Club AG plans to complete the integration process within a period
of 12 months, during which time Mr. Armengol will be supported by the other
two founders of eConozco.All parties involved in the acquisition have
agreed that the payment terms of the transaction will not be disclosed.

Important note:
This notice contains forward-looking statements concerning company
activities, business and member development, financial results of the OPEN
Business Club 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,
OPEN Business Club 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, OPEN Business Club AG is also represented with offices in Beijing
and Zurich.

About eConozco:
eConozco was founded in December 2003 in Barcelona. The company is now one
of the leading Spanish-language online networking platforms for creating
and managing personal contacts and professional relationships. The main
goal of this Internet-based networking platform is to promote and
strengthen professional relationships by means of modern communications
technology.

Thousands of managers, employees, and freelance entrepreneurs create
important connections to each other in an atmosphere that makes connecting
easy while placing the highest importance on security. Today, eConozco is
the first address when looking for high-profile professional contacts in
Spain and Latin America.

The online platform eConozco is operated by the well-known Catalan
technology and consulting company Grupo Galenicom TI, S.L.

Contact:

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



DGAP 26.03.2007 
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Language:     English
Issuer:       OPEN Business Club 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
www:          www.xing.com
ISIN:         DE000XNG8888
WKN:          XNG888
Indices:      
Listed:       Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in
              Berlin-Bremen, Düsseldorf, München, Stuttgart
 
End of News                                     DGAP News-Service
 
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