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IAC to Acquire Anyway.com

Expedia, Inc. to Extend Presence in France Through Addition of Anyway to IAC Travel Portfolio

Press Release: IAC/InterActiveCorp
October 28, 2003
NEW YORK, NY -- IAC/InterActiveCorp (Nasdaq: IACI) yesterday announced that it has entered into an agreement to acquire Anyway.com, the third largest online travel site in France, for an enterprise value of 53 million (approximately CAD $81.6 million, $62.7 million USD ). Anyway is a wholly owned French subsidiary of the Canadian packaged tour operator Transat A.T. Inc. The transaction is expected to close by October 31, 2003. Following the completion of this transaction, Anway will operate as part of IAC Travel which consists of: Expedia, Hotels.com, Interval International, TV Travel Shop and Hotwire.

About IAC/InterActiveCorp

IAC/InterActiveCorp (Nasdaq: IACI), formerly USA Interactive, consists of IAC Travel, a division of the company that encompasses Expedia, Inc., which oversees Interval International, TV Travel Shop, Hotels.com, and Hotwire.com. IAC has entered into an agreement to acquire Hotwire, which is expected to close during the fourth quarter of 2003, subject to customary regulatory approvals. The other operating businesses of IAC are: HSN; Ticketmaster, which oversees Evite and ReserveAmerica; Match.com, which oversees uDate.com; Entertainment Publications; Citysearch; Precision Response Corporation; and Lending Tree. The goal of IAC is to be the world's largest and most profitable interactive commerce company by pursuing a multi-brand strategy.

About Anyway.com

Anyway was created in 1988 as a discount travel agency and expanded into online Minitel services in 1995 and into Internet services in 1999. The company is based in Paris and is owned by the Canadian firm Transat A.T. Inc.

About Transat A.T. Inc

Transat A.T. Inc., one of the leading leisure companies in the world and the leader in Canada, with its head office in Montreal, is an integrated company specializing in the organization, marketing and distribution of holiday travel. The core of its business is in Canada and France. Transat is also involved in air transportation, value-added services offered at travel destinations and distribution through travel agency networks. Transat is listed on the Toronto Stock Exchange (TSX: TRZ).

Source: IAC/InterActiveCorp