Spark Networks(R) Special Committee Unanimously Rejects Unsolicited Proposal From Great Hill Equity Partners III, LP

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Tue Apr 6, 2010 7:59pm EDT

  BEVERLY HILLS, CA, Apr 06 (MARKET WIRE) -- 
Spark Networks, Inc. (NYSE Amex: LOV), a leading provider of online
personals services, announced today that the Special Committee of the
Board of Directors of the Company has unanimously rejected the March 2,
2010 proposal by Great Hill Equity Partners III, LP and certain of its
affiliates ("Great Hill") to purchase all of the outstanding shares of
common stock of the Company not owned by Great Hill for $3.10 per share
and will continue to consider all other strategic alternatives available
to the Company.

    Safe Harbor Statement: 

    This press release contains forward-looking statements. Any statements in
this news release that are not statements of historical fact may be
considered to be forward-looking statements. Written words, such as
"may," "will," "expect," "believe," "anticipate," "estimate," "intends,"
"goal," "objective," "seek," "attempt," or variations of these or similar
words, identify forward-looking statements. By their nature,
forward-looking statements and forecasts involve risks and uncertainties
because they relate to events and depend on circumstances that will occur
in the near future. There are a number of factors that could cause actual
results and developments to differ materially, including, but not limited
to our ability to: attract members; convert members into paying
subscribers and retain our paying subscribers; develop or acquire new
product offerings and successfully implement and expand those offerings;
keep pace with rapid technological changes; maintain the strength of our
existing brands and maintain and enhance those brands and our dependence
upon the telecommunications infrastructure and our networking hardware
and software infrastructure; identify and consummate strategic
acquisitions and integrate acquired companies or assets; obtain financing
on acceptable terms; and successfully implement our current long-term
growth strategy. For a discussion of these and further risks and
uncertainties, please see our filings with the Securities and Exchange
Commission. We file annual, quarterly and special reports, proxy
statements and other information with the SEC. You may read and copy any
reports, statements or other information that we file at the SEC's public
reference room at 100 F Street, N.E., Washington, D.C., 20549. Please
call the SEC at 1-800-SEC-0330 for further information on the public
reference room. Our public filings with the SEC also are available from
commercial document retrieval services and at the Web site maintained by
the SEC at http://www.sec.gov. 

    About Spark Networks, Inc.: 

    The Spark Networks portfolio of online personals communities includes,
among others, JDate(R).com (www.jdate.com), Spark(R).com (www.spark.com),
BlackSingles.com(R) (www.blacksingles.com), and ChristianMingle(R).com
(www.christianmingle.com). 

    

For more information

Investors: Brett Zane
+ 1-323-658-3000 ext. 4001
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Media: Arielle Wolin
+ 1-323-658-3000 ext. 4029
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