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Website Attracting European Job-Seekers, American
Investors

By Ted Knutson, ZacksNEWS reporter. Wed May 26 17:00:32 1999

Feel you missed the Internet groundswell in the United States?

Josephthal & Co. analyst Nicole Schmidt suggests you take your
search across the Atlantic. She's recommending Europe-based
topjobs.net PLC (TJOB.)

“The number of households in Europe with Internet access are
expected to grow from 14 million to 47 million in the next to three
or five years,” said Schmidt.

The Josephthal analyst has rated the European Internet job bank
as a “buy” in her initial coverage. Her 12-month target price for
the stock is $22 per share.

Tobjobs went public April 28. Following an opening day close of
$19 3/16, the issue has been pummeled in the general Internet
stock drubbing since. It closed Wednesday at $9 3/8.

But Schmidt said the real losers will be the sellers. She cited
tobjobs.net as a likely acquisition target in the not too distant
future.

One potential suitor, according to the analyst, is Hollinger Inc.
(HLGCF) which owns newspapers around the world from The
Chicago Sun-Times to The London Daily Telegraph. Hollinger
also owns about 4 percent of topjobs shares which were
purchased during the Internet company's initial public offering
"road show."

Another possible acquirer: TMP International (TMPW) which
owns one of the top United States Internet job sites,
Monster.com.

Schmidt said tobjobs' primary strength is its centralized format,
utilizing one Web site (topjobs.net) with separate sections for
individual European countries.

Topjobs' revenue is derived from the companies that pay to list
their job openings on the site. Most of the jobs posted on topjobs'
pages are in information technology or engineering.

One unique feature of the topjobs.com site: every 500th person
completing a site survey gets a free bottle of champagne.
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