Priceline.com Selected as One of 100 Best Sites for 2002 in Magazine`s Annual
Awards for Net Excellence
Who has the best travel deals on the Web for 2002? That would be
priceline.com(R) (Nasdaq:PCLN), according to Yahoo! Internet Life, the world`s
largest consumer lifestyle magazine devoted to the content, culture and
community of the Internet.
Yahoo! Internet Life also named priceline.com as one
of the 100 best Web sites for the New Year. The selections can be found in the
magazine`s January 2002 issue now on newsstands.
In introducing its selections for 2002, Yahoo! Internet Life wrote, “This year`s guide—our fourth annual—to the cream of the Internet crop has been
assembled with extra care. Whatever uncertainty awaits the country in the months
ahead, the 100 Best Sites will serve you well.” In selecting priceline.com for
the best travel deals distinction, the editors wrote, “Do your research before
you hit Priceline, name a low but still-reasonable price, and odds are you`ll be
traveling on the cheap.”
Priceline.com offers Name Your Own Price(SM) services for leisure airline
tickets, hotel rooms and rental cars. Priceline.com`s travel supplier partners
include 34 major brand airlines in the US and abroad, including 8 major airlines
in the US; over 7,000 hotel properties in the US, Europe, Canada, Mexico and the
Caribbean; and the top 5 major brand rental car companies. Priceline.com
customers make their own purchase offers and typically receive replies in 15
minutes or less.
“We`re pleased to receive this recognition,” said priceline.com`s Chief
Marketing Officer Brett Keller. “Priceline.com has worked hard over the past
year introducing product and service enhancements that make it even easier for
our customers to get the best travel deals on the Internet, often at savings of
up to 40 percent or more over retail.”
Priceline.com is the Name Your Own Price(SM) Internet service that offers
products for sale in four 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.