Amazon.com Introduces the Amazon Credit Account; Virtual Cardless Credit ''Card'' Provides Shoppers with the Opportunity to Buy Now and Pay Later When Shopping at Amazon.com.

Business Editors

SEATTLE--(BUSINESS WIRE)--Nov. 2, 2001

Amazon.com (Nasdaq:AMZN) today introduced the Amazon Credit Account -- a virtual, cardless credit "card" -- for use when shopping at Amazon.com (www.amazon.com).

Available now, the Amazon Credit Account (www.amazon.com/credit) is the online equivalent of a department store credit card and provides shoppers the opportunity to buy now and pay later when shopping at Amazon.com.

Just in time for the holiday shopping season, the Amazon Credit Account is the solution for holiday shoppers looking to buy computers, electronics or other goods from among the tens of millions of items at Amazon.com. The Amazon Credit Account also may make it possible for people without a bank card or credit card to now shop online at Amazon.com.

To inaugurate this new service, customers who sign up with the Amazon Credit Account will enjoy three months of no payments and interest-free holiday shopping on orders over $200 placed through January 31, 2002 (see below for details).

"Whether you're shopping for a computer, handheld, digital camera, DVD player or flat-screen TV, the Amazon Credit Account is a great solution," said Steve Frazier, vice president of hardlines at Amazon.com. "With our special introductory offer, Amazon Credit customers can enjoy their purchase and hold on to their money for 90 days before making a complete payment without any interest."

The Amazon Credit Account is made possible by Citi Commerce Solutions, a division of Citibank Cards, in cooperation with Amazon.com Financial Services, Inc., a subsidiary of Amazon.com, Inc. "Amazon.com is a true e-commerce pioneer, and we're proud to work with such an innovative and customer-focused company," said Bill Johnson, president of Citi Commerce Solutions. "With our private-label credit experience and Amazon.com's e-commerce expertise behind it, the Amazon Credit Account program will create an even better experience for Amazon.com customers."

Apply online or get more information on the Amazon Credit Account at www.amazon.com/credit.

About the Introductory Offer from Amazon Credit Account

FINANCE CHARGES accrue from the date of purchase and all accrued FINANCE CHARGES will be added to credit customer's Account for the entire promotional period if qualifying purchases are not paid in full before the end of the deferred payment period or if credit customer fails to make any required payment on their account when due.

Finance offer does not apply to (1) purchases made from Amazon Marketplace, Auctions or zShops, or Circuit City, (2) purchases of gift certificates or (3) deposits made for cell phone service in our Cell Phones & Service store. Finance offer applies only to U.S. residents who are 18 years of age or older.

With credit approval for purchases made on the Amazon Credit Account. As of 11/01/01, APR: Purchase Rate 22.90%; Default Rate 26.90% (rates may vary). Minimum Finance Charge $.50. See cardholder agreement for details. Offer is for individuals, not businesses. Offer expires 01/31/02.

About Amazon.com

Amazon.com (Nasdaq:AMZN) opened its virtual doors on the World Wide Web in July 1995 and today offers Earth's Biggest Selection, along with online auctions and free electronic greeting cards. Amazon.com seeks to be the world's most customer-centric company, where customers can find and discover anything they might want to buy online. Amazon.com and sellers list millions of unique new and used items in categories such as electronics, computers, kitchen and housewares, books, music, DVDs, videos, camera and photo items, toys, baby and baby registry, software, computer and video games, cell phones and service, tools and hardware, travel services, and outdoor living products. Through Amazon Marketplace, zShops and Auctions, any business or individual can sell virtually anything to Amazon.com's millions of customers, and with Amazon.com Payments, sellers can accept credit card transactions, avoiding the hassles of offline payments.

Amazon.com operates four international Web sites: www.amazon.co.uk, www.amazon.de, www.amazon.fr and www.amazon.co.jp. It also operates the Internet Movie Database (www.imdb.com), the Web's comprehensive and authoritative source of information on more than 275,000 movies and entertainment titles and 1 million cast and crew members dating from the birth of film.

About Citi Commerce Solutions

Citi Commerce Solutions, a division of Citibank Cards, is a leading provider of consumer and commercial private-label credit programs and commercial account management services. Citi Commerce Solutions' clients include some of the largest, most successful merchants in the world, including RadioShack, Staples, Texaco, Goodyear, Shell, Gateway, Office Depot, BP Amoco, Dell Computer, Zale, Citgo and OfficeMax.

About Citibank

Citibank is part of Citigroup (NYSE:C), the preeminent global financial services company with some 190 million customer accounts in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex and Travelers. Additional information may be found at: www.citigroup.com.

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results may differ significantly from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, Amazon.com's anticipated losses, significant amount of indebtedness, competition, strategic alliances, strategic partnerships and business combinations, seasonality, potential fluctuations in operating results and rate of growth, management of potential growth, risks of system interruption, international expansion, consumer trends, risk of fulfillment center optimization, inventory risks, limited operating history, risks related to fraud and Amazon.com Payments, and risks of new business areas. More information about factors that potentially could affect Amazon.com's financial results is included in Amazon.com's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2000, and all subsequent filings, including Quarterly Reports on Form 10-Q.