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Stuart Gentle Publisher at Onrec

jobpilot AG: Losses in Q4 visibly further reduced to below one million Euro

Revenue stabilizing, order volume again increasing dramatically Profitability will be achieved in the first half of 2002

Revenues in the fourth quarter were Euro 9.7 million, which represents a slight drop of around 4 percent on Euro 10.1 million in the third quarter of 2001. At the same time, the volume of incoming orders of 7.2 million in the third quarter increased to almost 9 million in the fourth quarter of 2001, a rise of over 20 percent. Thus orders rose again for the first time since the first quarter of 2001 and are displaying a clear upward trend. The EBIT was Euro -0.8 million in the fourth quarter of 2001 (less one-off restructuring costs of around Euro 0.3 million), compared with Euro -3.3 million in the third
quarter of 2001 (likewise less restructuring costs amounting to Euro 3.2 million).

Revenues for the full year 2001 were accordingly some Euro 45.2 million, an increase of around 35 percent compared with the Euro 33.5 million in 2000. The net loss was reduced to Euro 21.2 million (including all restructuring costs amounting to Euro 5.5 million), while in 2000 the figure was still Euro 31.4 million. Without the one-off restructuring costs, jobpilot AG was therefore able to halve its losses in 2001 compared with last year.

We have operated an outstanding cost management in 2001 and have brought the company to the break-even point, said Willi Stahlmann, Finance Chairman of jobpilot AG. Still in the first half of 2002 we are true to our word and will take the entire jobpilot group into the black. Our cash assets of around Euro 15.5 million are more than adequate for this and for other major investments.

Dr. Roland Metzger, CEO of jobpilot AG: jobpilot has also maintained its clear position as a market leader in Germany, the largest and most important market in Europe, under difficult economic conditions in 2001. At the same time we have successfully established the business model in other major countries. We continue to remain one of the leading companies in Europe in online recruitment.

Actual results for the 4th quarter and financial year ended December 31, 2001 will be published on March 20, 2002.