Exhibit 99.1

                On July 19, 2001, the Board of Directors (the "Board") of Sohu.com Inc. (the "Company")declared a dividend distribution of one preferred stock purchase right (a "Right") for each share of Company common stock, par value $.001 per share (the "Common Stock"), of the Company outstanding as of July 23, 2001 (the"Record Date") and authorized the issuance of one Right for each share of Common Stock issued thereafter until the Distribution Date (as defined below). Each Right entitles the registered holder to purchase from the Company for a purchaseprice of $100 (the "Exercise Price") one one-thousandth of a share of Series A Junior Participating Cumulative Preferred Stock, par value $.001 per share (the "Series A Preferred Stock"), upon the terms and subject to theconditions set forth in the Shareholders' Rights Agreement dated as of July 25, 2001, by and between the Company and The Bank of New York, as Rights Agent (the "Rights Agreement"). The Exercise Price, the number and kind of shares coveredby each Right and the number of Rights outstanding are subject to adjustment from time to time, as provided in the Rights Agreement. 

                From the Record Date and until a Distribution Date (defined below), the Rights will be evidenced by thecertificates for Common Stock of the Company representing the shares then outstanding and not by separate certificates. Accordingly, during this period, the Rights will be attached to the Common Stock certificates representing such rights and willnot be separately tradable. Common Stock certificates issued prior to the Record Date will not be altered to reflect the presence of an associated stock purchase right, but, as indicated above, will nonetheless represent such a right. For CommonStock certificates issued after the Record Date, a notation will be added to each such certificate incorporating the Rights Agreement by reference. 

                The Rights will separate from the Common Stock upon the earlier to occur of (i) the tenth calendar day after thefirst public announcement that a person or group of affiliated persons has become an Acquiring Person (defined below) (the date of such an announcement being the "Stock Acquisition Date") or (ii) the tenth business day (or such later dateas the Board of Directors shall determine) following the announcement of a tender offer or exchange offer that, upon consummation, would result in a person or a group becoming the beneficial owner of 20% or more of the outstanding shares of CommonStock (such date being the "Tender Offer Date") (such earlier date of the Stock Acquisition Date and the Tender Offer Date being the "Distribution Date"). 

                Subject to certain exceptions, an Acquiring Person means a person or group of affiliated or associated personsthat has acquired 20% or more of the outstanding shares of Common Stock. 

                As soon as practicable after the Distribution Date, separate certificates evidencing the Rights (the"Rights Certificates") will be mailed to the holders of record of the Common Stock as of the close of business on the Distribution Date and, thereafter, the Rights Certificates alone will represent the Rights. The Rights may be exercisedonly after the Distribution Date and will expire at the close of business on July 25, 2011 (the "Final Expiration Date"), unless earlier redeemed or exchanged by the Company as described below. 

                In the event that a person becomes an Acquiring Person (except pursuant to an offer for all outstanding sharesof the Company's voting securities that at least a majority of the independent directors determines to be fair to and otherwise in the best interests of the Company and its stockholders, a "Permitted Offer"), each holder of a Right willthereafter have the right to receive, upon exercise, Series A Preferred Stock (or, in certain circumstances, cash, property, or other securities of the Company) having a value equal to two times the exercise price of the Right. Notwithstanding theforegoing, if a person becomes an Acquiring Person all Rights that are, or (under certain circumstances specified in the Rights Agreement) were, beneficially owned by such person will be null and void. 

                In the event that, at any time following the Stock Acquisition Date, (i) the Company engages in a merger orother business combination transaction in which the Company is not the surviving corporation (other than with an entity which acquired the shares pursuant to a Permitted Offer), (ii) the Company engages in a merger or other business combinationtransaction in which the Company is the surviving corporation and the Common Stock of the Company is changed or exchanged, or (iii) 50% or more of the Company's assets or earning power is sold or transferred, each holder of a Right (except Rightswhich previously have been voided as set forth above) shall thereafter have the right to receive, upon exercise, common stock of the acquiring company having a value equal to two times the exercise price of the Right. 

                At any time until the earlier of (i) ten calendar days following the Stock Acquisition Date or (ii) the FinalExpiration Date, the Company may redeem the Rights in whole, but not in part, at a price of $.001 per Right (payable in cash, Common Stock, or other consideration deemed appropriate as determined by the Board). Immediately upon action of the Boardordering redemption of the Rights, the Rights will terminate and the onlyright of the holders of Rights will be to receive the $.001 redemption price. At any time after a person becomes an Acquiring Person and prior to the acquisition by such person of fifty percent (50%) or more of the outstanding Common Stock, theBoard may exchange the Rights (other than Rights owned by such person which have become void), in whole or in part, at an exchange ratio of one share of Common Stock, or one one-thousandth of a share of Series A Preferred Stock (or of a share of aclass or series of the Company's preferred stock having equivalent rights, preferences and privileges), per Right (subject to adjustment). 

                Until a Right is exercised, the holder thereof, as such, will have no rights as a stockholder of the Company,including, without limitation, the right to vote or to receive dividends. While the distribution of the Rights will not be taxable to stockholders or to the Company, stockholders may, depending on the circumstance, recognize taxable income in theevent that the Rights become exercisable or are exchanged as provided in the preceding paragraph. 

                Any of the provisions of the Rights Agreement may be amended by the Board prior to the Distribution Date. Afterthe Distribution Date, the provisions of the Rights Agreement may be amended by the Board only in order to cure any ambiguity, to make changes which do not adversely affect the interests of holders of Rights (excluding the interests of any AcquiringPerson or an affiliate or associate of any such person), or to shorten or lengthen any time period under the Rights Agreement. Notwithstanding the foregoing, no time period under the Rights Agreement may be lengthened from and after the DistributionDate unless such lengthening is for the purpose of protecting, enhancing or clarifying the rights of and benefits to, the holders of Rights (other than an Acquiring Person or an affiliate or associate of any such person). 

                This summary description of the Rights does not purport to be complete and is qualified in its entirety byreference to the Rights Agreement, which is incorporated herein by reference.