BEIJING, Nov. 3 /Xinhua-PRNewswire/ -- Baidu.com, Inc. (Nasdaq: BIDU),
the leading Chinese language Internet search provider, today announced that
its board of directors has approved a share repurchase plan, subject to
shareholder approval. Baidu has been authorized, but is not obligated, to
repurchase up to US$200 million worth of its own American Depositary Shares
("ADSs") by the end of 2009. The repurchases will be made from time to time
on the open market or in negotiated transactions in accordance with Rule 10b-
18 under the Securities Exchange Act of 1934, subject to market conditions,
the trading price of ADSs and other factors. Baidu's management expects to
implement the share repurchase plan in a manner consistent with the market
conditions and the best interest of Baidu's shareholders.
(Logo: http://www.newscom.com/cgi-bin/prnh/20041011/BAIDULOGO )
About Baidu
Baidu.com, Inc. is the leading Chinese language Internet search provider.
As a technology-based media company, Baidu aims to provide the best way for
people to find information. In addition to serving individual Internet search
users, Baidu provides an effective platform for businesses to reach potential
customers. Baidu's ADSs, each of which represents one Class A ordinary share,
are currently trading on the NASDAQ Global Select Market under the symbol
"BIDU."
Safe Harbor Statement
This announcement contains forward-looking statements. These statements
are made under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates," "confident" and similar
statements. Among other things, quotations from management in this
announcement contain forward-looking statements. Statements that are not
historical facts, including statements about Baidu's beliefs and expectations,
are forward-looking statements. Forward-looking statements involve inherent
risks and uncertainties that could cause actual results to differ materially
from those contained in any forward-looking statements. Further information
regarding these and other risks is included in our annual report on Form 20-F
and other documents filed with the Securities and Exchange Commission. All
information provided in this press release is as of November 3, 2008, and
Baidu undertakes no duty to update such information, except as required under
applicable law.
For investor inquiries please contact:
China
Linda Sun
Baidu.com, Inc.
Tel: +86-10-8262-1188
Email: ir@baidu.com
Helen Plummer
Ogilvy Financial, Beijing
Tel: +86-10-8520-3090
Email: helen.plummer@ogilvy.com
U.S.
Thomas Smith
Ogilvy Financial, New York
Tel: +1-212-880-5269
Email: thomas.smith@ogilvypr.com
For media inquiries please contact:
Ceren Wende
Ogilvy Financial, Beijing
Tel: +86-10-8520-6514
Email: ceren.wende@ogilvy.com
SOURCE Baidu.com, Inc.
-0- 11/03/2008
/CONTACT: Investor Inquiries: China - Linda Sun of Baidu.com, Inc., +86-
10-8262-1188, or ir@baidu.com; or Helen Plummer of Ogilvy Financial, Beijing,
+86-10-8520-3090, or helen.plummer@ogilvy.com; or U.S. - Thomas Smith of
Ogilvy Financial, New York, +1-212-880-5269, or thomas.smith@ogilvypr.com;
Media Inquiries: Ceren Wende of Ogilvy Financial, Beijing, +86-10-8520-6514,
or ceren.wende@ogilvy.com /
/Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20041011/BAIDULOGO
PRN Photo Desk, 888-776-6555 or 212-782-2840 /
/Web site: http://www.baidu.com/
(BIDU)
CO: Baidu.com, Inc.
ST: China
IN: CPR ITE MLM PUB STW
SU: TNM
NL
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5280 11/03/2008 07:00 EST http://www.prnewswire.com