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October 5, 1998

LYCOS BAGS $22.5M CREDIT CARD DEAL WITH FLEET

By CBR Staff Writer

Web portal company Lycos Inc has inked a deal with Fleet Financial Group’s Fleet Credit Card Services Corp to offer a co- branded credit card. The deal is worth $22.5m over several years to Lycos, which will market the card program across all the sites on its network. Additional royalties will be paid out to Lycos based on success of the program. Beginning in January, Fleet will issue cards bearing the Lycos name, hoping that the 16 million registered Lycos users will prove a lucrative market for both parties. Other online service providers such as America Online Inc and Yahoo! Inc already offer credit cards with their brand name on it.

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