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Formula One And SOHU Launch Official Website Partnership As China Prepares To Host The Inaugural 2004 Formula 1 (TM) Sinopec Chinese Grand Prix
BEIJING, Sept. 23 /Xinhua-PRNewswire-FirstCall/ -- SOHU.com Inc. , China's leading online media, communications, commerce and mobile value-added services company, and Formula One Administration, have signed a long-term agreement under which SOHU will exclusively host and manage the Official Formula 1 website in Chinese, introducing Chinese motor racing fans to the world of Formula One in their own language and offering new business opportunities to Formula One associated companies in this promising market. The official website signing ceremony precedes the inaugural 2004 Formula 1 Sinopec Chinese Grand Prix, which is scheduled to take place in Shanghai from September 24-26.
The new website (china.formula1.com) will include daily news, official live timing with race commentary, extensive photographic galleries featuring exclusive still TV images, specially-commissioned interviews and features, an interactive results archive, in-depth technical analysis, general information on the rules and history of Formula One and full profiles on all the competing teams and drivers including all previous world champions. The presentation of the new website will follow the creative style of the flagship English language site, formula1.com.
Charles Zhang, Chairman and CEO of SOHU said, ''We are honoured Formula One Management has chosen SOHU as its official online partner in China, as SOHU aims to become the country's preferred online platform for all fans, organisers and corporate advertisers involved in sport. At the same time, as the portal with the widest reach among China's 80 million online users according to iResearch/Alexa for the past eight months, we offer the Formula One community prime internet access to the affluent urban internet users who are the most likely people in China to embrace the world of motor racing.''
Bernie Ecclestone, CEO, Formula One Management Limited said, ''The first Formula One Chinese race is a very significant addition to the global Formula One calendar and we are pleased to announce this cooperation at such an appropriate time. For many years tens of millions of Chinese fans have been enjoying Formula One through television, and now millions more will be able to follow Formula One in their own language through the Internet. We are confident that in SOHU we have found a committed partner to help build Formula One's interactive gateway for Chinese fans and to offer a new platform for our teams and sponsors. Additionally, the flagship English language site at formula1.com offers similar opportunities for Chinese companies wishing to enter Formula One.''
Victor Koo, President & COO of SOHU said, ''The growth in car ownership reflects the rising prosperity in China and fuels the interest in all automotive related entertainment and sports as higher incomes make people keen to explore new leisure experiences. The inaugural 2004 Formula 1 Sinopec Chinese Grand Prix is already proving to be very popular and is expected to further enhance interest in the sport, as its glamour and excitement fits well into the new lifestyle of Chinese consumers.''
Notes to editors:
About Sohu
SOHU.COM is China's premier online brand and indispensable to the daily life of millions of Chinese who use the portal network for their news, search, e-mail, wireless messaging, instant messaging, browsing, games and shopping. SOHU has built one of the most comprehensive matrix of web properties in China, consisting of the mass portal and leading online media destination http://www.sohu.com/; the #1 online alumni club http://www.chinaren.com/; #1 games portal http://www.17173.com/; top real estate website http://www.focus.cn/ and wireless value- added services provider http://www.goodfeel.com.cn/ . This network of web properties offers the vast SOHU user community the broadest possible choices regarding information, entertainment, communication and commerce. SOHU.COM, established by Dr. Charles Zhang, one of China's Internet pioneers, is in its eighth year of operation.
About Formula One, Formula One Management and formula1.com
Representing more than half a century as the supreme form of international motorsport, The FIA Formula One World Championship is the world's most popular annual sporting series, with a global audience measured in billions.
In 2004, ten teams will travel around the globe, visiting the world's most exciting race tracks, taking in Europe, Asia, Australia and North and South America, in their pursuit of championship glory.
The Formula One car represents the ultimate in automotive technology, capable of top speeds approaching 370kph. Featuring V10 engines capable of 19,000 rpm and producing anything up to 900 horsepower, the cars offer all- round performance levels unmatched in any other race series.
To harness that performance requires the best in driving talent and among those who have achieved the coveted status of Formula One World Champion are all-time greats such as Juan Manuel Fangio, Alain Prost, Ayrton Senna, and of course the current seven-times World Champion, Michael Schumacher.
A host of up-and-coming superstars are fighting to take his crown, Kimi Raikkonen, Jenson Button, Juan Pablo Montoya and Fernando Alonso being among them.
Formula One Management
Formula One Administration Limited (FOA), founded by Bernie Ecclestone, holds the exclusive commercial rights to the FIA Formula One World Championship. Formula One Management Limited (FOM) acts on behalf of FOA in all matters relating to the management, protection and exploitation of FOA's intellectual property rights.
Formula1.com
Formula1.com is the official Formula 1 website, and since launch in March 2003 enjoyed 5 million unique users that year. In 2004, at the end of Quarter 3 this figure had risen by 50% to 7.5 million. Formula1.com aims to provide an unparalleled online Formula One experience by hosting unique and exclusive content and by embracing the technological and interactive opportunities presented by the internet.
Safe Harbor Statement
This announcement contains forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, SOHU's historical and possible future losses, limited operating history, uncertain regulatory landscape in the People's Republic of China, fluctuations in quarterly operating results, and the company's reliance on online advertising sales, wireless services (most of which are collected from a few mobile telecom operators) and e-commerce for its revenues. Further information regarding these and other risks is included in SOHU's Annual Report on Form 10K for the year ended December 31, 2003, and other filings with the Securities and Exchange Commission.
For further information:
Caroline Straathof
SOHU Investor Relations and Communications
Tel: +86 10 6510 1379
Email: ir@sohu-inc.com
http://www.sohu.com/about/English/
Alex Wooff
Formula One Management Limited
Tel: +44 20 7584 6668
Fax: +44 20 7584 7027
Email: awooff@fomltd.com
SOHU.com Inc.
CONTACT: Caroline Straathof, SOHU Investor Relations and Communications,+86-10-6510-1379, ir@sohu-inc.com; Alex Wooff of Formula One ManagementLimited, +44 20 7584 6668, or fax, +44 20 7584 7027, awooff@fomltd.com
Web site: http://www.sohu.com/about/English
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