Search Engine Is Looking for Strategic Investors

Fri Jun 27, 2008 5:03am EDT

* Reuters is not responsible for the content in this press release.

  NEW YORK, NY, Jun 27 (MARKET WIRE) -- 
Masterseek Corp., one of the world's largest business search engines, is
about to offer more than 10% of its authorized stocks to a range of
foreign investors. This was announced last Monday by Rasmus Refer,
founder of Masterseek.

    Masterseek is already in discussion with a number of strategic investors
and Venture Capital companies, in advance of a public listing, which
Rasmus Refer says will happen either at the end of this year or at the
beginning of 2009.

    Masterseek is looking at quotation on Nasdaq or the London Stock Exchange.

    "We offer more than 10% of our company in order to attract a strong
partner," Rasmus Refer said when asked about the size of their offering.
"We hope it will happen, but, in the final analysis, it will be depend on
the result of our negotiations."

    According to the accountancy company Horwart International, the market
value is approximately $150m.

    When asked about the timing of this prospectus, Rasmus Refer said, "We may
have to wait until the end of this year or sometime next year. We need to
wait for the right moment on the market."

    Masterseek had hoped for a quotation this year, but the management team
has become more conservative, especially in regard to the timetable for a
prospectus program that is expected to reach the $20m mark.

    Still, there is no decision taken regarding how the stocks will be quoted,
but everything points at Nasdaq or AIM in London.

    "UBS, JP Morgan and Deutsche Bank are all potential investors to sponsor
and bridge the listing, but we are open to all enquiries. We want to find
the right strategic investors," says Rasmus Refer.

    Rasmus Refer is convinced that Masterseek will be in a position to compete
with Google and Yahoo! in the field B2B searches. The latter have also
begun to take a precise look at this area of business.

    "We are fully prepared. We are confident about the development of our
competitive skills. We offer a supplement to the major search engines.
There are infinite opportunities to create a niche for ourselves in the
market," said Rasmus Refer.


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