SECURES $30 MILLION REVOLVING CREDIT FACILITY
BEVERLY HILLS, Calif., February 14, 2008 – Spark Networks, Inc. (AMEX:LOV), a leading provider of online personals services, announced that it has rescheduled its investor conference call to discuss its results for the fourth quarter and full year ended December 31, 2007 solely to permit its independent auditors additional time to complete their review of the Company’s income tax provision specifically as it relates to valuation allowances in connection with the Company’s deferred tax assets. The Company will reschedule its conference call once the auditors have completed their review of this item.
Separately, the Company said that today it closed a $30 million secured revolving credit facility with Bank of America.
Adam Berger, Chairman and Chief Executive Officer of Spark Networks stated, “This $30 million credit facility, combined with our strong balance sheet and cash flow will provide increased financial flexibility to fund growth initiatives or other opportunities to enhance shareholder value by increasing long-term return on equity.”