24/7 Media Europe Launches Four Nordic Operations
24/7 MEDIA EUROPE LAUNCHES FOUR NORDIC OPERATIONS London, 9th February 1999 - 24/7 Media Europe, the new European Internet ad sales company formed by 24/7 Media Inc. (NASDAQ: TFSM) and InterAd Holdings Ltd, today announced four new subsidiaries for the Nordic region. The companies will trade as 24/7 Media Norge, 24/7 Media Sverige, 24/7 Media Danmark and 24/7 Media Suomi. Operations in Oslo and Stockholm have been established, with Copenhagen and Helsinki due to open within the next month. Working alongside 24/7 Media Europe's existing international operations, each will offer services for Web sites and advertisers, tailored for the individual Nordic markets. Stein Georg Lillemoen and Dan Winblad, both former senior executives of Internet portal Scandinavia Online, will head the new business. By the 2nd quarter of 1999, they will oversee a media focussed organisation of more than 15 people and a pan-Nordic sites network. The subsidiaries will offer banner campaigns, online sponsorships, e-commerce and direct marketing opportunities on local, regional and international sites. Nordic Web site recruitment is an initial priority. Stein Georg Lillemoen, Nordic Regional Director of 24/7 Media Europe, said: "Our goal is to establish the leading Internet advertising network in the market. We aim to provide total online solutions both to Nordic and to global advertisers. 24/7 Media Europe already has a solid international portfolio of sites, with strong appeal to Nordic advertisers, which we are looking to add to. We are keen to talk to good Nordic sites about maximising revenue through quality global representation." The Nordic subsidiaries extend 24/7 Media Europe's network to 13 offices in 12, predominantly European, countries. Comprehensive global coverage for represented sites is provided by around 50 media professionals within Europe and through reciprocal agreements with USA-based 24/7 Media Inc and its Pacific Rim affiliate 24/7 Media Asia. /moreÖ 24/7 Launches Pan-Nordic Operations, page 2 Gordon Simpson, CEO, 24/7 Media Europe, said: "The Nordic region is absolutely key to our corporate development. Following our partnership with 24/7 Media Inc., we are in a period of rapid development and expansion, in which this is undoubtedly one of our most significant moves. Under the direction of Stein Lillemoen and Dan Winblad, I have every confidence that we will extend the success we enjoy in other markets to the region." According to U.S.-based Forrester Research, Europe's online advertising market is expected to grow from $105 million in 1998 to $2.8 billion in 2003, spurred by an increasingly cohesive European market, a growing Internet population, competition from U.S.-based companies, and maturing technologies. More information about 24/7 Media Europe and its represented sites can be found on its temporary Web site at www.247europe.com For further details, please contact:Suzanna Collis, 24/7 Media Europe Tel: +44 171 355 4447 E-mail: scollis@247europe.com