FOR FURTHER INFORMATION:
Contact: Mr. Frank Denny, CEO & President
SHOPPING.COM
2101 E. Coast Highway
Garden Level
Corona del Mar, CA 92625
(949) 640-4374
www.shopping.com
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FOR IMMEDIATE RELEASE
SHOPPING.COM ENTERS MERGER AGREEMENT WITH COMPAQ COMPUTER CORPORATION
Corona del Mar, CA, January 11, 1999 -- Frank W. Denny, CEO and President of
Shopping.com (OTCBB: IBUY) today announced that the company's Board of Directors
has approved a tender offer for $19.00 per share to be accepted and approved by
its shareholders in a merger agreement with Compaq Computer Corporation (NYSE;
CPQ).
"In my opinion the value that has been created at Shopping.com for the benefit
of its shareholders after only roughly one year of becoming a public company
made the offer by Compaq attractive to the Company," Denny said.
The anticipated traffic from Alta Vista and Compaq Internet PCS will enable
Shopping.com to grow faster and more efficiently than stand alone e-commerce
companies. In turn, the increased knowledge gained from users' online
purchasing interests will allow Alta Vista to better organize content and
information for its users.
ABOUT SHOPPING.COM
Shopping.com was founded with the mission to be the dominant low-price leader on
the Internet, selling brand-name consumer products every day. Shopping.com is
an online retailer offering more than 2 million item selections of top brand-
name consumer products organized by category. Shopping.com targets both the
consumer and commercial markets utilizing state-of-the-art proprietary systems
technology. Shopping.com competes with other Internet retailers such a CDnow
CDNW, at cdnow.com, for music; Amazon AMZN, at amazon.com, Barnes and Noble BKS,
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at barnesandnoble.com and Books-A-Million, Inc. BAMM, at booksamillion.com, for
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books; Cyberian Outpost, Inc. COOL, at outpost.com and CompUSA, Inc. CPU, at
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compusa.com, for computers; and Staples, Inc. SPLS, at staples.com, for office
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products; along with the AOL and Yahoo shopping sites.
Shopping.com offers millions of brand-name products to the Internet shopper,
ranging from computers, books, office products, CDS, pet supplies, housewares
and more. Shopping.com provides everyday low prices and fast delivery using
direct vendor shipping, secure online payment protection and customer-friendly
check-out services to ensure a user-friendly Web shopping experience for the
Internet shopper. Visit Shopping.com's Web site at www.shopping.com or
www.IBUYstores.com.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for forward-looking statements. Certain information included in this press
releases (as well as information included in oral statements or other written
statements made or to be made by Shopping.com contains statements that are
forward-looking, such as statements relating to consummation of the transaction,
anticipated future revenues of the companies and success of current product
offerings. Such forward-looking information involves important risks and
uncertainties that could significantly affect anticipated results in the future
and, accordingly, such result may differ materially from those expressed in any
forward-looking statements made by or on behalf of Shopping.com. For a
description of additional risks and uncertainties, please refer to
Shopping.com's filings with the Securities and Exchange Commission, including
Forms 10-K and 10-Q.