EXHIBIT 99.1

              DELTA AIR LINES RESTRUCTURES PRICELINE.COM INVESTMENT

     NORWALK, Conn., and ATLANTA, Ga., February 8, 2001 . . . Priceline.com
(Nasdaq: PCLN) and Delta Air Lines, Inc. (NYSE: DAL) said today that Delta has
agreed to restructure its investment in priceline.com. Under the terms of the
agreement, priceline.com will reduce its outstanding preferred stock by $280
million and significantly reduce its dividend expense, while Delta will be
entitled to increase its stake in priceline.com.

Delta had previously held 6 million shares of convertible preferred stock of
priceline.com with a total liquidation preference of $359.6 million and
convertible into 6 million shares of priceline.com common stock. Under today's
agreement, Delta will exchange those shares for 80,000 shares of a new
priceline.com preferred stock, with a total liquidation preference of $80
million, and also will receive warrants to purchase approximately 27 million
shares of priceline.com common stock at the February 6, 2001 closing market
price of $2.97 per share.

"Priceline.com is a valuable distribution partner to us," said M. Michele Burns,
Delta's Executive Vice President and Chief Financial Officer. "We are very
supportive of their business model and believe this transaction is in the best
interest of both Delta and priceline.com."

"Delta Air Lines has made a major commitment to the future of priceline.com by
restructuring its equity," said priceline.com CFO Robert Mylod. "We are pleased
by this new agreement and look forward to continuing our long-term partnership
with the Delta team."

The new series of preferred stock to be issued to Delta has an aggregate
liquidation preference of $80 million and will pay dividends of 2.8 million
shares of priceline.com common stock per year. The preferred stock is
mandatorily redeemable on February 6, 2007. The preferred stock can be redeemed,
at either priceline.com's or Delta's option, upon a change of control of
priceline.com. The warrants to purchase shares of priceline.com common stock to
be issued to Delta are fully vested and can be exercised at Delta's election at
any time prior to the redemption of the preferred stock. To pay the exercise
price of the warrants, Delta will surrender shares of preferred stock valued at
the liquidation preference per share. A copy of the certificate of designation
relating to the preferred stock, the warrant agreement and a stockholder
agreement have been filed as exhibits to the Form 8-K filed by priceline.com
with the Securities and Exchange Commission today.

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ABOUT DELTA AIR LINES

Delta's goal is to become the #1 airline in the eyes of its customers, flying
passengers and cargo from anywhere to everywhere. Passengers already choose to
fly Delta more often than any other airline in the world on 5,196 flights each
day to 353 cities in 59 countries on Delta, Delta Express, Delta Shuttle, the
Delta Connection carriers, and Delta's Worldwide Partners. Delta is a founding
member of SkyTeam, a global airline alliance which provides customers with
extensive worldwide destinations, flights and services. For more information,
visit Delta at www.delta.com.


ABOUT PRICELINE.COM

Priceline.com is the Name Your Own Price-SM- Internet pricing system that
provides services across four broad product categories: a travel service that
offers leisure airline tickets, hotel rooms and rental cars; a personal finance
service that offers home mortgages, refinancing and home equity loans through
an independent licensee; an automotive service that offers new cars; and a
telecommunications service that offers long distance calling services.
Priceline.com licenses its business model to independent licensees, including
pricelinemortgage and certain international licensees. In these arrangements,
priceline.com generally receives royalties for licensing its intellectual
property. Priceline.com also holds securities carrying the right to purchase a
significant equity stake in the licensees under certain conditions. Unless those
rights are exercised, the results of licensee operations will not be included in
priceline.com's financial statements.

                                      # # #

Press Contacts:

For priceline.com
Brian Ek 203-299-8167 (brian.ek@priceline.com)

For Delta
Corporate Communications  404-715-2554


INFORMATION ABOUT FORWARD LOOKING STATEMENTS

This press release may contain forward-looking statements. Expressions of future
goals and similar expressions including, without limitation, "may," "will,"
"should," "could," "expects," "does not currently expect," "plans,"
"anticipates," "believes," "estimates," "predicts," "potential," or "continue,"
reflecting something other than historical fact are intended to identify
forward-looking statements. The following factors, among others, could cause the
Company's actual results to differ materially from those described in the
forward-looking statements: inability to successfully expand the Company's
business model both horizontally and geographically; adverse changes in the
Company's relationships with airlines and other product and service providers;
systems-related failures; the Company's ability to protect its intellectual
property rights; the effects of increased competition; losses by the Company and
its licensees; any adverse impact from negative publicity and negative customer
reaction relating to recent announcements



concerning the Company; legal and regulatory risks and the ability to attract
and retain qualified personnel. For a detailed discussion of these and other
factors that could cause the Company's actual results to differ materially from
those described in the forward-looking statements, please refer to the Company's
most recent Form 10-Q and Form 10-K filings with the Securities and Exchange
Commission.