IAC Stockholders Approve Spin-Off of Expedia, Inc.
IACIV and EXPEV to Commence When-Issued Trading
NEW YORK, NEW YORK - July 19, 2005 - IAC/InterActiveCorp (Nasdaq:
IACI) announced that its stockholders overwhelmingly approved the
spin-off of Expedia, Inc., and the related proposals submitted at
IACs annual meeting of stockholders held earlier today. IAC will
release its second quarter results on August 2, 2005 and expects to
close the spin-off during the week of August 8th.
IAC has been advised by the Nasdaq National Market that both
Expedia common stock and IAC common stock (on a post spin-off
basis) will trade on a when-issued post-reverse stock split basis
on Nasdaq under the symbols EXPEV and IACIV, respectively, from
July 20, 2005 through the completion of the spin-off. During this
period, IAC common stock will continue regular way trading on
Nasdaq under its existing symbol, IACI. On the first trading day
after the spin-off is completed, regular way trading will commence
for Expedia under the symbol EXPE and will continue for IAC under
the symbol IACI.
Laptop Battery In addition, the holders of over 99% of IACs outstanding shares
of Series A Convertible Preferred Stock have elected to receive $50
in cash per share plus accrued and unpaid dividends in return for
their shares. This amount will be paid upon completion of the
spin-off.
According to the indictment, Jones would steal various IBM and Penguin computer servers from Verisign's warehouse in Virginia and sell them to Johnson. Johnson would then sell the servers to several individuals, who would sometimes place them for sale on eBay. As a result of this scheme, the indictment alleges that Jones and Johnson caused Verisign to lose more than $120, 000 worth of computer equipment. In the indictment, Jones and Johnson are charged in three counts with causing the interstate transportation of stolen property, namely IBM 330 and 335 servers, in violation of 18 U.S.C.
Thinkpad Following the spin-off, IAC will cease to have any ownership
interest in Expedia, and Expedia will become an independent
publicly traded company. Expedia will consist of IACs travel and
travel-related
businesses, subsidiaries and
investments, including TripAdvisor and excluding Interval
International, which IAC will retain. IAC will continue to own
and operate its remaining businesses as an independent publicly
traded company.
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Microsoft About IAC/InterActiveCorp
2005 Expedia, Inc. All rights reserved. Expedia, Expedia.com, Expedia.co.uk, Expedia Mobile, Expedia Don't Just Travel, Travel Right, Travelscape and the Airplane logo are all trademarks or registered trademarks of Expedia, Inc. Other product and company names mentioned herein may be the trademarks of their respective owners. Images on this site are incorporated for viewing purposes only and may not be saved or downloaded in any format.
Laptop Computers IAC operates leading and diversified businesses in sectors being
transformed by the internet, online and offlineour mission is to
harness the power of interactivity to make daily
life easier and more productive
for people all over the world. To view a full list of the
companies of IAC
please visit our website at
http://iac.com.
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Laptop Computer Important Safe Harbor Statement Under The Private Securities
Litigation Reform Act of 1995
laptop computers is driving strong sales for notebook computers, according to the latest quarterly sales figures from the research firm IDC, which reported a 37% computer sales for the second quarter, compared with a year earlier. In the U.S., laptop sales grew 17.7%, while sales of desktop computers and servers fell 4%. The New York Times ( 10), CNET ( 10)
Desktop Computer This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements include statements relating
to anticipated financial performance, business prospects, new
developments, pending transactions and similar matters, and/or
statements that use words such as anticipates, expects, intends,
and similar expressions. These forward-looking statements are
necessarily estimates reflecting the best judgment of IACs senior
management, and involve a number of risks and uncertainties that
could cause actual results to differ materially from those
suggested by the forward-looking statements. These risks and
uncertainties are described in IACs filings with the U.S.
Securities and Exchange Commission (the SEC), including IACs Annual
Report on Form 10-K for the fiscal year ended 2004, Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K. Other unknown
or unpredictable factors also could have material adverse effects
on IACs future results, performance or achievements. In light of
these risks and uncertainties, the forward-looking events discussed
in this press release may not occur. You are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date stated, or if no date is stated, as of the date
of this press release.
Notebooks IAC is not under any obligation and does not intend to make
publicly available any update or other revisions to any of the
forward-looking statements contained in this press release to
reflect circumstances existing after the date of this press release
or to reflect the occurrence of future events even if experience or
future events make it clear that any expected results expressed or
implied by those forward-looking statements will not be
realized.
Lenovo Additional Information
Hard Drive In connection with the proposed spin-off, IAC filed a proxy
statement/prospectus with the SEC. Stockholders of IAC are urged to
read the proxy statement/prospectus because it contains important
information about IAC, the proposed spin-off transaction and
related matters. Investors and security holders can obtain free
copies of the proxy statement/prospectus by contacting Investor
Relations, IAC/InterActiveCorp, Carnegie Hall Tower, 152 W 57th
Street, 42nd Floor, New York, NY 10019 (Telephone: (212) 314-7400).
Investors and security holders can also obtain free copies of the
proxy statement/prospectus and other documents filed by IAC with
the SEC in connection with the proposed spin-off transaction at the
SECs web site at www.sec.gov. In addition to the proxy
statement/prospectus, IAC files annual, quarterly and current
reports, proxy statements and other information with the SEC, each
of which should be available at the SECs web site at www.sec.gov.
You may also read and copy any reports, statements and other
information filed by IAC at the SEC public reference room at 450
Fifth Street, N.W., Washington, D.C. 20549. Please call the SEC at
1-800-SEC-0330 for further information.
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