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Thursday, August 29, 2002 |
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Overture and InfoSpace Extend Premier Search Provider Relationship; Search Agreement Extended Until March 2006
PASADENA, Calif. & BELLEVUE, Wash.--Aug. 29, 2002--Overture Services, Inc. (Nasdaq:OVER), the world`s leading provider of Pay-For-Performance search to Web sites across the Internet, and InfoSpace Inc. (Nasdaq:INSP), a provider of wireless and Internet software and application services, today announced an extension of their search distribution agreement until March 2006. The current agreement would have expired in February 2004.
Under the extended agreement, Overture will continue to be the premier provider of paid search listings to InfoSpace`s Web search properties, including Excite (www.excite.com), Dogpile (www.dogpile.com), WebCrawler (www.webcrawler.com) and MetaCrawler (www.metacrawler.com), as well as other InfoSpace search distribution relationships. As the premier provider, Overture is guaranteed premium placement across InfoSpace`s Web search properties.
"InfoSpace`s meta-search products highlight the strengths of many of the Web`s major search properties. As the leader in Pay-For-Performance search, Overture`s results play a key role in this effort," said York Baur, InfoSpace executive vice president, wireline and broadband. "The extension of our relationship with Overture ensures that high-quality Pay-For-Performance results are delivered to the millions of users of our Web search properties."
InfoSpace`s meta-search technology is designed to identify the intent of a user`s search through a sophisticated query routing technology, which sorts the results for a search query accordingly and then displays a blended mix of highly relevant commercial and non-commercial results.
Overture`s search results are generated by its 67,000 advertisers who bid for placement on keywords that are relevant to their businesses. Search listings are screened by Overture`s 100-person editorial team before being distributed to the company`s industry-leading affiliate partner network, which includes many of the Internet`s most popular destination sites, such as InfoSpace`s Web search properties.
"InfoSpace is an important long-term strategic partner for Overture and we are pleased to extend our agreement with them," said Bill Demas, senior vice president and general manager, affiliate business group, Overture. "InfoSpace is the leading meta-search provider with relationships across the search landscape and we look forward to working with them as their premier paid search provider."
About Overture
Overture (Nasdaq:OVER) is the world`s leader in Pay-For-Performance search on the Internet. The company created the market for Pay-For-Performance search by redefining how businesses market online. In the second quarter of 2002, Overture facilitated more than 515 million paid introductions on a worldwide basis between consumers and its approximately 67,000 advertisers, who bid for placement on relevant search results and pay Overture only when a consumer clicks on their listing. Following a rigorous screening for user relevance by Overture`s 100-person editorial team, the company distributes its search results to tens of thousands of sites across the Internet, including MSN, Lycos, InfoSpace and Yahoo! -- making it the largest Pay-For-Performance search and advertising network on the Internet. Overture is based in Pasadena, California, with offices in New York and San Francisco, and subsidiary offices in the UK, Germany, Ireland, France and Japan. For more information, visit www.overture.com.
Overture and Pay-For-Performance are service marks of Overture Services Inc.
About InfoSpace Inc.
InfoSpace Inc. provides wireless and Internet software and application services. The company develops software technologies that enable customers to efficiently offer a broad array of network-based services under their own brand to any device. InfoSpace corporate information can be found at www.infospaceinc.com.
This press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements include without limitation statements that InfoSpace`s users, including Excite, Dogpile, WebCrawler and MetaCrawler users, will continue to have Overture search results delivered to them; and that InfoSpace`s users, including Dogpile, WebCrawler, MetaCrawler and Excite, will continue to use Overture search results; and that Overture will receive guaranteed premium placement across InfoSpace`s Web sites properties; that advertisers and businesses will want to participate in Overture`s search results that appear on InfoSpace`s search results; and that this agreement will generate a meaningful revenue stream. These forward-looking statements are subject to risks and uncertainties that could cause actual results and events to differ materially. These risks and uncertainties include, among others, that the new implementation on InfoSpace`s properties, including Excite, Dogpile, WebCrawler and MetaCrawler, may not be successful or generate revenue for Overture or yield economic benefits to Overture; the risk that Overture`s advertisers and businesses may not want traffic from InfoSpace`s properties, including Excite, Dogpile, WebCrawler and MetaCrawler; and the risk that users of InfoSpace`s properties, including Excite, Dogpile, WebCrawler and MetaCrawler, may not use Overture`s search results. For a discussion of other risks that could cause actual results or events to differ materially from such forward-looking statements, see the discussion of "Risks That Could Affect Our Financial Condition and Results of Operations" in Overture`s 10-Q filing with the SEC for the period ended June 30, 2002. Overture undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
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CONTACT:
Overture Services, Inc.
Al Duncan, 626/685-5714
al@overture.com
InfoSpace Inc.
Steve Stratz, 425/709-8167
steve.stratz@infospace.com
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