Revenues in the first quarter of 2001 increased 14.7 percent over the comparable year-ago period to $171.2 million. EBITDA in the first quarter of 2001 was $18.4 million, compared to EBITDA of $8.0 million in the year ago quarter, an improvement of 130.3 percent. Cash EPS** was $0.05 per share compared with $(0.03) per share in the year ago quarter. First Call consensus for Cash EPS for the first quarter of 2001 was $0.01

Specific Highlights Include:

Internet ticket sales grew to 29.5 percent of all tickets

Acquired the assets of Evite and acquired ReserveAmerica

Entered into a strategic partnership with America Online

Reduced City guide and classified EBITDA losses for the fourth consecutive quarter Match.com and its affiliate sites had an aggregate of 2.6 million unique users in March of 2001 which was more than three times the nearest competitor, according to Jupiter/Media Metrix

Ticketing Operations First quarter revenues from Ticketing operations were $150.1 million, compared with $128.0 million in the year ago quarter, an increase of 17.3 percent. The revenue increase reflects an increase in the number of tickets sold, a 9.6 percent increase in revenue per ticket (from $5.44 to $5.96), and the acquisition of ReserveAmerica in February 2001. Tickets sold increased from 21.8 million in the first quarter of 2000 to 23.6 million tickets in the first quarter of 2001 due primarily to the acquisitions of Admission Network, Inc. in April 2000, TicketWeb, Inc. in May 2000, Ticketmaster Oregon in December 2000, and the acquisition of an increased interest in Ticketmaster Ireland (now equaling 60 percent) allowing consolidation. Gross transaction value for the first quarter of 2001 was $937.1 million compared to $811.6 million in the year ago quarter, an increase of 15.5 percent

Revenue from Ticketing operations in international markets increased 29 percent in the first quarter over the comparable year-ago period primarily reflecting acquisitions in Canada and the acquisition of the additional interest in Ticketmaster Ireland

The Company continued to make strides in increasing its advertising and direct marketing revenue, capitalizing on the Company’s relationship with 8.6 million purchasing consumers, 3.6 million visitors to ticketmaster.com, and 13.3 million inbound telephone calls in the quarter. In the first quarter, revenue from such sources incremental to traditional ticketing revenue equaled $0.18 per ticket sold

EBITDA from Ticketing operations in the first quarter of 2001 was $30.2 million compared with $27.4 million, an increase of 10.4 percent. The Company achieved double digit Ticketing operations EBITDA growth while continuing to invest in new products and technology as well as significant market expansion

Online ticketing revenue was $49.5 million, compared to $29.0 million a year ago, an increase of 70.7 percent. The percentage of tickets sold online across all properties was 29.5 percent compared with 27.9 percent in the fourth quarter of 2000. Among the contributing factors to the increase in online sales were several successful Internet-only pre-sales for Bon Jovi, The Black Crowes & Oasis and U2 as well as continual product upgrades such as a new search engine which decreases the amount of time needed to purchase a ticket. Gross transaction value in the first quarter for online ticket sales was $318.3 million

City Guide and Classifieds City guide and classifieds revenue increased 23.3 percent to $20.9 million in the first quarter of 2001 from $17.0 million in the comparable year-ago period. Advertising revenue on city guides and personals subscriptions revenue both exhibited strong growth on a year over year basis. EBITDA from City guide and classifieds in the first quarter was a loss of $8.7 million compared with a loss of $14.6 million a year ago with all of the improvement coming from the city guide operations

In the first quarter of 2001, Citysearch added new national advertisers such as Anheuser Busch, Honda Motor Co., Miller Brewing Company, Mars, Incand the American Automobile Association.

The Company also continued to introduce a variety of new local advertising products that should allow the Company to grow revenues while reducing costs. This represents the fourth straight quarter where we have achieved a significant reduction in operating losses from our city guide operations, despite the fact that the macro environment for Internet advertising presents certain challenges, said Pleasants. We remain committed to extending our position as the leading online local network while at the same time getting this operation profitable on a EBITDA basis. During the quarter, the Company acquired the assets of Evite, the Internet’s largest invitation and rsvp website with approximately 1.2 million unique users per month.

Evite is a strong fit with Citysearch and offers us some unique advertising opportunities, said Steven Trepp, president of Citysearch. Averaging 50,000 invitations sent each month, Evite allows our users to invite others to join them on what they are doing and where they are going based on Citysearch’s unique localized content. The Company’s personals operations attracted a monthly average in of 2.2 million unique users in the first quarter of 2001, an approximate 50.3 percent increase over the year ago period

In addition to its AOL partnership announced during the first quarter of 2001, Match.com agreed to power the personals sites for Primedia’s New York and Chicago Magazines. Match.com also continued to support the promotional efforts of other TMCS properties such as helping to launch and drive traffic to Citysearch’s Romance 2001 channel and selling incremental tickets to singles to attend local offline events for the Houston Rockets, Florida Panthers and the Atlanta Midtown Festival.

Our active profiles and subscriptions continue to grow significantly, making Match.com the place on the Web to meet others, said Cynthia Hennessy, president, Match.com. This online growth, coupled with our more than 50 successful offline events this quarter, has helped not only grow our share of the market, but also increased usage and trial of this relatively new medium to meet others online. Extending its successful partnership with MSN in the United States, Match.com expanded its marketing efforts in the United Kingdom by working closely with MSN.UK, resulting in a significant increase in United Kingdom membership since its February 2001 launch.

SOURCE: COMPANY PRESS RELEASE