QXL CEO Zaleski Calls It A Day! He Quits! See Ya! Bye Bye! Have a Nice Day!

[mandy]

QXL ricardo plc 25 September 2006
Board changes

The Board of QXL ricardo plc (“QXL” or the “Group”, QXL.L) announces the following Board and
management changes.

After six years, Mark Zaleski has decided to step down as Chief Executive Officer and consequently has resigned as a Board director of QXL. Mr Zaleski’s resignation is effective immediately but, to assist with transitional arrangements in Poland, for a period he will remain available to the Group and remain on the Board of QXL Poland. Thomas Power, a non-executive director, has also announced his resignation, effective immediately.

The Board has appointed a leading executive search firm to evaluate external and internal candidates for the CEO role and to assist with the selection of an independent non-executive director. Further announcements about this process will be made in due course.

Mark Zaleski commented “I am extremely proud of QXL’s achievements as one of the few European
internet companies to have survived and flourished despite the ‘dot.com’ crash, with our market
capitalisation increasing from around £25 million to £200 million in the period while I have been CEO. I wish the company and team every further success.”

Bruce McInroy, Interim Chairman, commented “Mark Zaleski has made an enormous contribution to the Group over the last six years. He transformed the scope of QXL’s business, led the Group to profitability and has been a key player in the recent Polish settlement. Since 2002, Thomas Power has brought to the Company his excellent connections and insights into the internet and he is now moving onto pastures new.

On behalf of the Board and shareholders, I thank Mark and Thomas for their contributions and wish them the best in all their future endeavours. Until a new CEO is appointed, our executive management will report directly to the Board. We have achieved strong growth, profitability and cash-flows in our key markets of Poland, Switzerland, Denmark and Norway. We plan to build on this by extending the business model in these territories as well as in newer, less developed markets.

full press release: http://www.qxl.co.uk/contents/uk/qxlmedi..._09_06.pdf