<Page>
EXHIBIT 99.2
PRICELINE.COM REPORTS 1st QUARTER 2003 FINANCIAL RESULTS
Hotel service sets all-time records
- 1.2 MILLION ROOM NIGHTS SOLD
- REVENUE UP 37% YEAR OVER YEAR AND 30% SEQUENTIALLY
- 268,763 SEQUENTIAL INCREASE IN ROOM NIGHTS SOLD
Priceline.com to seek stockholder approval for reverse stock split
NORWALK, Conn., May 1, 2003 ... Priceline.com (Nasdaq: PCLN) today reported
a 1st quarter 2003 GAAP net loss of $8.0 million, or $0.04 per share, on
revenues of $200.5 million. The $0.04 per share loss includes non-cash charges
of approximately $6.9 million related to the issuance of warrants to purchase
priceline.com common stock to Marriott Corporation and a preferred stock
dividend. Excluding these non-cash charges, priceline.com would have recorded a
net loss of $1.1 million, or $0.00 per share for the quarter. The First Call
consensus earnings estimate on this basis was for a loss of $0.01 per share. The
Company stated that 1st quarter results were primarily driven by record hotel
sales, improved gross margins, expense management and improved results in its
packages, retail and rental car businesses.
By comparison, in the 1st quarter 2002, priceline.com had revenues of $261.9
million and GAAP net income of $3.9 million, or $0.02 per share.
Beginning with the 1st quarter's results, priceline.com has enhanced its
reporting of revenue and related cost of revenue to provide merchant, agency and
other categories. Historical results have been presented to conform to the
current period's reporting format. Priceline.com also is enhancing its
disclosure of operating and statistical metrics to include gross bookings, which
refers to the total dollar value of all travel products purchased by consumers,
inclusive of taxes and fees. Finally, this is the first quarter in which
priceline.com is not separately reporting its results on a "pro forma" basis,
although the Company has provided the information above as to results before
certain non-cash charges for transitional purposes to facilitate comparison to
existing First Call estimates.
During the 1st quarter 2003, priceline.com's gross profit was $33 million,
compared to $42 million in the 1st quarter 2002. Gross margin for the 1st
quarter was 16.5 percent, compared to 16 percent a year ago. In the 1st quarter
2003, priceline reported gross bookings of $248 million, compared to $307
million a year ago. Priceline.com ended the quarter with nearly $140 million in
cash and short-term investments. The Company has no debt.
"We are pleased to report a record quarter for priceline.com's hotel service,"
said priceline.com President and Chief Executive Officer Jeffery H. Boyd.
"Supported by a major advertising campaign, our hotel service sold 1.2 million
room nights during the quarter, with hotel revenues increasing approximately 37
percent year over year and 30 percent sequentially. We believe that this
increased growth is due to the fact that more leisure travelers are trying us
and they see that priceline.com's hotel service delivers top-of-the-line hotel
quality at savings that are up to 40 percent greater than those found on
Expedia, Hotels.com and Travelocity."
Mr. Boyd continued, "Our retail travel business, including the Lowestfare.com
brand which we acquired last year, contributed $21 million in gross bookings
this quarter, which is up $17 million over last year's 1st quarter and
represents a 103 percent sequential increase. Improved margins in our opaque
travel products and growth in contribution from retail sales resulted in a gross
margin of 16.5 percent for the 1st quarter 2003, compared to 15.5 percent in the
4th quarter 2002 and 16 percent in the 1st quarter 2002. In total, despite the
negative impact of the Iraq war on the nation's airlines and the broader travel
industry, we are pleased that priceline.com still was able to deliver 1st
quarter results that were comfortably within our pre-war guidance."
<Page>
Priceline.com demonstrated strong consumer metrics for the 1st quarter 2003. The
service added nearly 750,000 new customers, bringing its total customer base to
16.9 million. Repeat business for the quarter was 66.5 percent. (Repeat business
is defined as the number of unique purchase offers coming from repeat customers
divided by the number of total unique purchase offers).
During the 1st quarter, priceline.com entered into a partnership with Travelweb
LLC, the online travel service owned by Marriott International, Hilton Hotels
Corporation, Hyatt Corporation, Starwood Hotels, Intercontinental Hotels Group
and Pegasus Solutions, Inc. Under the agreement, Travelweb became the exclusive
supplier of retail hotel rooms for Lowestfare.com. Priceline.com invested $8.5
million for an approximately 15 percent equity stake in Travelweb LLC and
Mr. Boyd joined the Travelweb Board of Directors. In addition, the Company's
supplier relationships were further strengthened and broadened during the
quarter. Priceline.com signed a three-year extension of a marketing partnership
with Marriott, under which priceline.com remains Marriott's preferred partner in
the opaque travel market.
Priceline.com also announced today that its Board of Directors had authorized
the Company to seek stockholder approval for a reverse stock split of all
outstanding shares of priceline.com's common stock at an exchange ratio ranging
from one-for-six to one-for-nine shares. Priceline.com currently has
approximately 230 million diluted shares outstanding with a market value in
excess of $500 million.
If approved by the stockholders and effected by the Board of Directors, the
reverse split would have the effect of reducing the number of shares of
priceline.com's outstanding common stock to between 37.5 million and 25 million
respectively. "We believe this reverse split will expand investor interest in
priceline.com, reduce transaction costs for trading our common stock, make our
results more comparable to peer companies that have far fewer outstanding shares
than we currently have, and allow priceline.com's earnings per share, on a
post-split basis, to more precisely reflect the Company's operating results,"
said Mr. Boyd.
Added Mr. Boyd, "With a well-recognized brand, no debt, a strong cash position
and an attractive array of products, we believe that priceline.com is positioned
to be a long-term winner in online travel. The share re-purchase program
authorized by our Board of Directors remains in effect for priceline.com,
Hutchison-Whampoa Ltd. and Cheung Kong (Holdings) Ltd., and all three companies
are positioned to continue to repurchase priceline.com shares from time to
time."
Looking forward, Mr. Boyd said, "We expect a profitable 2nd quarter driven
primarily by strong hotel revenues (up 35 percent year-over-year in April), as
well as results from packages, rental car and retail products. Revenues for
April were approximately $68 million and we expect sequential seasonal
improvements in May and June. We are targeting GAAP EPS of between $0.02 and
$0.03 per share (pre-split) for the 2nd quarter. We continue to target a 25
percent-plus annual increase in hotel revenue for the remaining quarters of
2003, improved year-over-year bottom-line results and a return to top-line
growth in gross bookings by year-end." The Company said that unrest in the
Middle East, threats of terrorism and the outbreak of SARS continue to make
forecasting a challenge and that adverse developments could affect actual
results.
ABOUT PRICELINE.COM
Priceline.com offers products for sale in two categories: a travel service that
offers leisure airline tickets, hotel rooms, rental cars, vacation packages and
cruises; and a personal finance service that offers home mortgages, refinancing
and home equity loans through an independent licensee. Priceline.com also owns
the Internet domain names and trademarks of Lowestfare.com, another Web-based
travel site, and is part-owner in Internet travel service Travelweb LLC.
Priceline.com licenses its business model to independent licensees, including
pricelinemortgage and certain international licensees.
###
For press information: Brian Ek at priceline.com 203-299-8167
(brian.ek@priceline.com)
<Page>
INFORMATION ABOUT FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements. These forward-looking
statements are not guarantees of future performance and are subject to certain
risks, uncertainties and assumptions that are difficult to predict; therefore,
actual results may differ materially from those expressed, implied or forecasted
in any such 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," "targets," 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: adverse changes in general market conditions for leisure and other
travel products as the result of, among other things, terrorist attacks or war
in Iraq; adverse changes in the Company's relationships with airlines and other
product and service providers including, without limitation, the withdrawal of
suppliers from the priceline.com system; the bankruptcy or insolvency of another
major domestic airline; the effects of increased competition; systems-related
failures and/or security breaches; the Company's ability to protect its
intellectual property rights; losses by the Company and its licensees; final
adjustments made in closing the quarter; 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, Form 10-K and Form 8-K filings with the
Securities and Exchange Commission. Unless required by law, the Company
undertakes no obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or otherwise.
<Page>
PRICELINE.COM INCORPORATED
CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS, UNAUDITED)
<Table>
<Caption>
MARCH 31, DECEMBER 31,
2003 2002
------------- -------------
ASSETS
Current assets:
Cash and cash equivalents $ 52,560 $ 67,182
Restricted cash 17,025 18,248
Short-term investments 70,194 64,154
Accounts receivable, net of allowance for doubtful accounts of $1,262 at
March 31, 2003 and December 31, 2002 16,106 13,636
Prepaid expenses and other current assets 6,243 6,348
------------- -------------
Total current assets 162,128 169,568
Property and equipment, net 17,690 21,413
Goodwill 10,517 10,517
Other assets 17,923 9,664
------------- -------------
Total assets $ 208,258 $ 211,162
============= =============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 36,020 $ 35,375
Accrued expenses 24,983 27,889
Other current liabilities 2,833 2,063
------------- -------------
Total current liabilities 63,836 65,327
Long-term accrued expenses 422 715
------------- -------------
Total liabilities 64,258 66,042
------------- -------------
SERIES B MANDATORILY REDEEMABLE PREFERRED STOCK 13,470 13,470
Stockholders' equity
Common stock 1,886 1,884
Treasury stock (338,410) (338,410)
Additional paid-in capital 2,040,850 2,033,944
Accumulated deficit (1,573,876) (1,565,869)
Accumulated other comprehensive income:
Cumulative currency translation adjustment 80 101
------------- -------------
Total stockholders' equity 130,530 131,650
------------- -------------
Total liabilities and stockholders' equity $ 208,258 $ 211,162
============= =============
</Table>
<Page>
PRICELINE.COM INCORPORATED
CONSOLIDATED STATEMENTS OF OPERATIONS
(IN THOUSANDS, EXCEPT PER SHARE DATA, UNAUDITED)
<Table>
<Caption>
THREE MONTHS ENDED
MARCH 31, MARCH 31,
2003 2002
------------- -------------
Merchant revenues $ 198,608 $ 259,667
Agency revenues 1,005 218
Other revenues 874 2,000
------------- -------------
Total revenues 200,487 261,885
Cost of merchant revenues 167,500 219,511
Cost of agency revenues - -
Cost of other revenues - 381
------------- -------------
Total costs of revenues 167,500 219,892
------------- -------------
Gross profit 32,987 41,993
------------- -------------
Operating expenses:
Advertising 11,098 10,227
Sales and marketing 8,064 10,564
General and administrative, including option payroll taxes 6,568 6,487
Stock based compensation - 250
Systems and business development 4,930 6,328
Depreciation and amortization 3,912 4,458
Restructuring charge (reversal) - (824)
Warrant costs 6,638 -
------------- -------------
Total operating expenses 41,210 37,490
------------- -------------
Operating (loss) income (8,223) 4,503
Other income:
Interest income 492 782
Equity in net income of pricelinemortgage - 492
Other - (36)
------------- -------------
Total other income 492 1,238
------------- -------------
Net (loss) income (7,731) 5,741
Preferred stock dividend (297) (1,854)
------------- -------------
Net (loss) income applicable to common stockholders $ (8,028) $ 3,887
============= =============
Net (loss) income applicable to common stockholders per basic common share $ (0.04) $ 0.02
============= =============
Weighted average number of basic common shares outstanding 224,860 227,503
============= =============
Net income applicable to common stockholders per diluted common share $ (0.04) $ 0.02
============= =============
Weighted average number of diluted common shares outstanding 224,860 239,970
============= =============
</Table>
<Page>
PRICELINE.COM INCORPORATED
ADJUSTMENTS TO
CONSOLIDATED STATEMENT OF OPERATIONS
(IN THOUSANDS, EXCEPT PER SHARE DATA, UNAUDITED)
<Table>
<Caption>
THREE MONTHS ENDED MARCH 31, 2003
--------------------------------------------------
REPORTED ADJUSTMENTS ADJUSTED
------------- ------------- -------------
Merchant revenues $ 198,608 $ 198,608
Agency revenues 1,005 1,005
Other revenues 874 874
------------- ------------- -------------
Total revenues 200,487 200,487
Cost of merchant revenues 167,500 167,500
Cost of agency revenues - -
Cost of other revenues - -
------------- ------------- -------------
Total costs of revenues 167,500 167,500
------------- ------------- -------------
Gross profit 32,987 32,987
------------- ------------- -------------
Operating expenses:
Advertising 11,098 11,098
Sales and marketing 8,064 8,064
General and administrative 6,568 6,568
Systems and business development 4,930 4,930
Depreciation and amortization 3,912 3,912
Warrant costs 6,638 (6,638)(a) -
------------- ------------- -------------
Total operating expenses 41,210 (6,638) 34,572
------------- ------------- -------------
Operating loss (8,223) 6,638 (1,585)
Other income:
Interest income 492 492
------------- ------------- -------------
Total other income 492 - 492
------------- ------------- -------------
Net loss (7,731) 6,638 (1,093)
Preferred stock dividend (297) 297(b) -
------------- ------------- -------------
Net loss applicable to common stockholders $ (8,028) $ 6,935 $ (1,093)
============= ============= =============
Net loss applicable to common stockholders per
basic and diluted share $ (0.04) $ 0.03 $ (0.00)
============= ============= =============
Weighted average number of basic and diluted
common shares outstanding 224,860 224,860
============= =============
</Table>
(a) Non-cash warrant charge associated with the issuance of warrants to
purchase priceline.com common stock to Marriott Corporation.
(b) Non-cash preferred stock dividend.
<Page>
[LOGO]
PRICELINE.COM INCORPORATED - 2003 FIRST QUARTER FINANCIAL DATA SUPPLEMENT
<Table>
<Caption>
PAGE NUMBER
-----------
PRICELINE.COM FINANCIALS
Consolidated Statements of Operations 1
priceline.com Europe Ltd. Statement of Operations 2
Consolidated Balance Sheets 3
GROSS BOOKINGS 4
OFFER AND CUSTOMER ACTIVITY 5
PRODUCT DETAIL
Air 6
Hotels 7
Rental Cars 8
</Table>
THIS SUPPLEMENT IS UNAUDITED AND INTENDED AS A SUPPLEMENT TO, AND SHOULD BE
READ IN CONJUNCTION WITH, THE COMPANY'S AUDITED FINANCIAL STATEMENTS AND
THE NOTES THERETO FILED WITH THE SEC ON FORM 10-K AND QUARTERLY FINANCIAL
STATEMENTS FILED WITH THE SEC ON FORM 10-Q. CERTAIN DATA HAVE BEEN
RECLASSIFIED IN ORDER TO CONFORM HISTORICAL INFORMATION IN A MANNER
CONSISTENT WITH CURRENT PRESENTATION AND HAS NOT BEEN AUDITED IN THIS FORM.
CERTAIN PRESENTATIONS WITHIN THIS SUPPLEMENT ARE NOT CONSISTENT WITH
GENERALLY ACCEPTED ACCOUNTING PRINCIPLES.
<Page>
PRICELINE.COM INCORPORATED
CONSOLIDATED STATEMENTS OF OPERATIONS
In thousands, except per share data
(UNAUDITED)
<Table>
<Caption>
1Q03 VS.
INCOME STATEMENT ANALYSIS 1Q02 2Q02 3Q02 4Q02 1Q03 1Q02
- ------------------------- ----------- ----------- ----------- ----------- ----------- -----------
Merchant revenues $ 259,667 $ 302,670 $ 237,961 $ 195,814 $ 198,608 -24%
Agency revenues 218 211 160 131 1,005 361%
Other revenues 2,000 1,575 1,843 1,356 874 -56%
----------- ----------- ----------- ----------- -----------
Total revenues 261,885 304,456 239,964 197,301 200,487 -23%
Cost of merchant revenues 219,511 255,972 201,949 166,710 167,500 -24%
Cost of agency revenues - - - - - -
Cost of other revenues 381 336 274 107 - -100%
----------- ----------- ----------- ----------- -----------
Total costs of revenues 219,892 256,308 202,223 166,817 167,500 -24%
----------- ----------- ----------- ----------- -----------
Gross profit $ 41,993 $ 48,148 $ 37,741 $ 30,484 $ 32,987 -21%
----------- ----------- ----------- ----------- -----------
Operating expenses:
Advertising 10,227 12,777 11,649 10,011 11,098 9%
Sales and marketing 10,564 11,813 9,145 6,555 8,064 -24%
General and administrative, including
option payroll taxes 6,487 7,559 7,218 7,027 6,568 1%
Stock based compensation 250 250 250 250 - -100%
Systems and business development 6,328 6,275 5,529 5,550 4,930 -22%
Depreciation and amortization 4,458 4,490 4,850 4,466 3,912 -12%
Special charge/(reversal) - (200) - - - -
Restructuring charge/(reversal) (824) - (92) 4,654 - -100%
Severance charge/(reversal) - (55) - - - -
Impairment charge - - 24,229 - - -
Warrant costs - - - - 6,638 -
----------- ----------- ----------- ----------- -----------
Total operating expenses $ 37,490 $ 42,909 $ 62,778 $ 38,513 $ 41,210 10%
Operating income (loss) $ 4,503 $ 5,239 $ (25,037) $ (8,029) $ (8,223) -283%
Other income (expenses):
Interest income 782 788 656 617 492 -37%
Equity in net income of pricelinemortgage 492 245 394 - - -100%
Other (36) 37 164 1 - -100%
----------- ----------- ----------- ----------- -----------
Total other income $ 1,238 $ 1,070 $ 1,214 $ 618 $ 492 -60%
Net income (loss) $ 5,741 $ 6,309 $ (23,823) $ (7,411) $ (7,731) -235%
Preferred stock dividend (1,854) - (490) - (297) -84%
----------- ----------- ----------- ----------- -----------
Net income (loss) applicable to common
stockholders $ 3,887 $ 6,309 $ (24,313) $ (7,411) $ (8,028) -307%
=========== =========== =========== =========== ===========
Net income (loss) applicable to common
stockholders per basic common share $ 0.02 $ 0.03 $ (0.11) $ (0.03) $ (0.04) -300%
=========== =========== =========== =========== ===========
Net income (loss) applicable to common
stockholders per diluted common share $ 0.02 $ 0.03 $ (0.11) $ (0.03) $ (0.04) -300%
=========== =========== =========== =========== ===========
Weighted average common shares:
Basic 227,503 229,679 227,273 224,709 224,860 -1%
Diluted 239,970 239,502 227,273 224,709 224,860 -6%
Common shares outstanding, end of period 229,544 229,789 224,705 224,711 224,969 -2%
- ------------------------------------------------------- ----------- ----------- ----------- ----------- ----------
GROSS MARGIN 16.0% 15.8% 15.7% 15.5% 16.5%
</Table>
Page 1
<Page>
PRICELINE.COM EUROPE LTD.
STATEMENTS OF OPERATIONS
In thousands, except per share amounts
(UNAUDITED)
<Table>
<Caption>
1Q03 VS.
INCOME STATEMENT ANALYSIS 1Q02 2Q02 3Q02 4Q02 1Q03 1Q02
- ------------------------- ----------- ----------- ----------- ----------- ----------- -----------
Merchant revenues $ 3,075 $ 3,180 $ 2,909 $ 1,894 $ 1,102 -64%
Agency revenues 1 - - - 39 3800%
Other revenues 14 - - - - -100%
----------- ----------- ----------- ----------- -----------
Total revenues 3,090 3,180 2,909 1,894 1,141 -63%
Cost of merchant revenues 2,647 2,882 2,574 1,644 971 -63%
Cost of agency revenues - - - - - -
Cost of other revenues - - - - - -
----------- ----------- ----------- ----------- -----------
Total costs of revenues 2,647 2,882 2,574 1,644 971 -63%
----------- ----------- ----------- ----------- -----------
Gross profit $ 443 $ 298 $ 335 $ 250 $ 170 -62%
----------- ----------- ----------- ----------- -----------
Operating expenses:
Advertising 36 301 245 272 63 75%
Sales and marketing 317 298 324 300 117 -63%
General and administrative 1,140 957 1,393 1,129 640 -44%
Systems and business development 675 495 510 460 146 -78%
Depreciation and amortization 184 174 175 177 27 -85%
Restructuring charge - - - 1,790 - -
----------- ----------- ----------- ----------- -----------
Total operating expenses $ 2,352 $ 2,225 $ 2,647 $ 4,128 $ 993 -58%
Operating loss $ (1,909) $ (1,927) $ (2,312) $ (3,878) $ (823) -57%
Other income:
Interest income 6 4 6 3 1 -83%
Other - - 1 - - -
----------- ----------- ----------- ----------- -----------
Total other income $ 6 $ 4 $ 7 $ 3 $ 1 -83%
Net loss $ (1,903) $ (1,923) $ (2,305) $ (3,875) $ (822) -57%
=========== =========== =========== =========== ===========
Net loss per parent basic and diluted
share $ (0.01) $ (0.01) $ (0.01) $ (0.02) $ (0.00) -100%
=========== =========== =========== =========== ===========
Weighted average common shares:
Basic 227,503 229,679 227,273 224,709 224,860 -1%
Diluted 239,970 239,502 227,273 224,709 224,860 -6%
- ----------------------------------------- ----------- ----------- ----------- ----------- ----------- -----------
GROSS MARGIN 14.3% 9.4% 11.5% 13.2% 14.9%
</Table>
Note: Does not include certain intercompany consolidation adjustments.
Page 2
<Page>
PRICELINE.COM INCORPORATED
CONSOLIDATED BALANCE SHEETS
in thousands
(UNAUDITED)
<Table>
<Caption>
ASSETS 3/31/02 6/30/02 9/30/02 12/31/02 3/31/03
----------- ----------- ----------- ----------- -----------
CURRENT ASSETS:
Cash and cash equivalents $ 92,051 $ 98,140 $ 66,857 $ 67,182 $ 52,560
Restricted cash 17,454 19,573 18,174 18,248 17,025
Short-term investments 68,327 62,458 67,478 64,154 70,194
Accounts receivable, net of allowance for
doubtful accounts 20,218 21,977 16,654 13,636 16,106
Prepaid expenses and other current assets 10,544 8,640 9,068 6,348 6,243
----------- ----------- ----------- ----------- -----------
Total current assets 208,594 210,788 178,231 169,568 162,128
PROPERTY AND EQUIPMENT, net 31,291 28,205 25,279 21,413 17,690
GOODWILL 22,535 22,535 10,517 10,517 10,517
OTHER ASSETS 19,731 20,606 9,791 9,664 17,923
----------- ----------- ----------- ----------- -----------
TOTAL ASSETS $ 282,151 $ 282,134 $ 223,818 $ 211,162 $ 208,258
=========== =========== =========== =========== ===========
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ 62,177 $ 55,422 $ 40,972 $ 35,375 $ 36,020
Accrued expenses 31,750 32,318 25,861 27,889 24,983
Other current liabilities 5,050 4,954 3,495 2,063 2,833
----------- ----------- ----------- ----------- -----------
Total current liabilities 98,977 92,694 70,328 65,327 63,836
Long-term accrued expenses 2,365 1,483 1,001 715 422
----------- ----------- ----------- ----------- -----------
Total liabilities 101,342 94,177 71,329 66,042 64,258
----------- ----------- ----------- ----------- -----------
SERIES B MANDATORILY REDEEMABLE PREFERRED STOCK 13,470 13,470 13,470 13,470 13,470
----------- ----------- ----------- ----------- -----------
STOCKHOLDERS' EQUITY:
Common stock 1,880 1,882 1,884 1,884 1,886
Treasury stock (326,633) (326,633) (338,410) (338,410) (338,410)
Additional paid-in capital 2,032,547 2,033,313 2,033,938 2,033,944 2,040,850
Accumulated deficit (1,540,455) (1,534,145) (1,558,458) (1,565,869) (1,573,876)
Accumulated other comprehensive income:
Cumulative currency translation
adjustment - 70 65 101 80
----------- ----------- ----------- ----------- -----------
Total stockholders' equity 167,339 174,487 139,019 131,650 130,530
----------- ----------- ----------- ----------- -----------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 282,151 $ 282,134 $ 223,818 $ 211,162 $ 208,258
=========== =========== =========== =========== ===========
</Table>
Page 3
<Page>
PRICELINE.COM INCORPORATED
GROSS BOOKINGS
<Table>
<Caption>
1Q03 VS.
1Q02 2Q02 3Q02 4Q02 1Q03 1Q02
------------- ------------- ------------- ------------- ------------- ------------
Merchant $ 302,563,553 $ 351,038,533 $ 271,921,795 $ 218,100,177 $ 226,738,785 -25%
Agency 4,250,791 3,744,496 3,385,312 10,227,969 20,777,964 389%
------------- ------------- ------------- ------------- -------------
Total $ 306,814,344 $ 354,783,029 $ 275,307,107 $ 228,328,146 $ 247,516,749 -19%
</Table>
GROSS BOOKINGS REPRESENT THE TOTAL VALUE OF TRAVEL BOOKED THROUGH THE
PRICELINE.COM AND LOWESTFARE.COM SITES.
THE INFORMATION INCLUDED ABOVE IS FOR U.S. OPERATIONS ONLY.
Page 4
<Page>
PRICELINE.COM INCORPORATED
OFFER AND CUSTOMER ACTIVITY
<Table>
<Caption>
1Q03 VS.
UNIQUE OFFERS: 1Q02 2Q02 3Q02 4Q02 1Q03 1Q02
- ------------- ------------- ------------- ------------- ------------- ------------- ------------
New Customer Offers 874,792 964,464 825,026 759,465 749,009 -14%
Repeat Customer Offers 1,530,745 1,819,872 1,707,494 1,496,970 1,488,906 -3%
Total Unique Offers 2,405,537 2,784,336 2,532,520 2,256,435 2,237,915 -7%
Repeat customer offers/ 63.6% 65.4% 67.4% 66.3% 66.5%
total unique offers
CUSTOMERS
New Customers 874,792 964,464 825,026 759,465 749,009 -14%
Cumulative Customers 13,567,403 14,531,867 15,356,893 16,116,358 16,865,367 24%
</Table>
THE INFORMATION INCLUDED ABOVE IS FOR U.S. OPERATIONS AND INCLUDES MERCHANT
OPAQUE TRANSACTIONS ONLY.
Page 5
<Page>
PRICELINE.COM INCORPORATED
AIR
<Table>
<Caption>
1Q03 VS.
1Q02 2Q02 3Q02 4Q02 1Q03 1Q02
------------- ------------- ------------- ------------- ------------- ------------
Tickets Sold 866,643 921,201 643,659 468,926 439,270 -49%
Net Unique Offers 1,391,478 1,533,442 1,195,664 1,225,988 1,107,329 -20%
Offers Booked 580,555 619,590 441,406 341,244 302,306 -48%
Bind Rate 41.7% 40.4% 36.9% 27.8% 27.3%
</Table>
BIND RATE = OFFERS BOOKED/NET UNIQUE OFFERS
THE INFORMATION INCLUDED ABOVE IS FOR U.S. OPERATIONS, AND INCLUDES MERCHANT
OPAQUE TRANSACTIONS ONLY.
Page 6
<Page>
PRICELINE.COM INCORPORATED
HOTELS
<Table>
<Caption>
1Q03 VS.
1Q02 2Q02 3Q02 4Q02 1Q03 1Q02
------------- ------------- ------------- ------------- ------------- ------------
Room Nights Sold 909,107 1,089,586 1,144,988 961,124 1,229,887 35%
Net Unique Offers 629,145 812,285 931,323 748,200 878,619 40%
Offers Booked 417,306 499,065 539,899 463,434 578,867 39%
Bind Rate 66.3% 61.4% 58.0% 61.9% 65.9%
</Table>
BIND RATE = OFFERS BOOKED/NET UNIQUE OFFERS
THE INFORMATION INCLUDED ABOVE IS FOR U.S. OPERATIONS, AND INCLUDES MERCHANT
OPAQUE TRANSACTIONS ONLY.
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<Page>
PRICELINE.COM INCORPORATED
RENTAL CARS
<Table>
<Caption>
1Q03 VS.
1Q02 2Q02 3Q02 4Q02 1Q03 1Q02
------------- ------------- ------------- ------------- ------------- ------------
Days Sold 738,021 793,616 741,167 555,465 635,676 -14%
Net Unique Offers 303,611 335,059 302,554 244,278 251,967 -17%
Offers Booked 139,776 148,483 143,593 110,482 127,147 -9%
Bind Rate 46.0% 44.3% 47.5% 45.2% 50.5%
</Table>
BIND RATE = OFFERS BOOKED/NET UNIQUE OFFERS
THE INFORMATION INCLUDED ABOVE IS FOR U.S. OPERATIONS, AND INCLUDES MERCHANT
OPAQUE TRANSACTIONS ONLY.
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