Audible Corrects Bloomberg Reporting Error; Company Responds to Bloomberg Newswire Report ``Audible May Run out of Cash Next Year, Filing Shows''.

Business/Technology Editors

WAYNE, N.J.--(BUSINESS WIRE)--Aug. 17, 2000

Audible, Inc. (Nasdaq:ADBL), the leading provider of Internet-delivered spoken audio ( www.audible.com (TM)) for PC-based listening or mobile playback on AudibleReady(R) portable digital audio players, would like to clarify the company's financial position. A recent Bloomberg newswire item materially understated Audible's cash balance at June 30, 2000, noting the cash balance at $10.3 million. As stated in SEC filings, Audible had $25.2 million in cash, cash equivalents and short-term investments at June 30, 2000.

"The Bloomberg statement was clearly incorrect, and has created a tremendous amount of unwarranted concern on the part of our shareholders," said Thomas Baxter, president and CEO of Audible, Inc. "We are concerned about reckless assumptions being made from Bloomberg's article. We did not state in our public documents that Audible will `run out of cash early next year,' as the Bloomberg piece implies. I am left to wonder if this article would have been written in the first place with full knowledge and proper interpretation of our cash resources."

"In the future, we will attempt to address the structure of our financial disclosures to avoid this type of misunderstanding," Baxter continued. "We have identified appropriate measures and will continue to seek opportunities to manage and reduce costs within our organization. This, coupled with continued strong business growth and deep relationships with strategic investors such as Microsoft, Amazon.com and Random House, Inc., serve to allay any public concern about our cash position. By every rational measure, Audible is a very strong enterprise."

About Audible:

Audible is the Internet's largest, most diverse provider of premium spoken audio services for content download or playback on personal computers or AudibleReady(R) mobile devices. Audible allows customers to take advantage of their commuting, travel and desktop computer time by delivering premium entertainment and information audio while their eyes are busy but their minds are free. Audible's content partners include leading audiobook publishers, broadcasters, magazine and newspaper publishers, business information providers, and educational and cultural institutions. Visitors to www.audible.com(TM) can browse, sample, purchase and subscribe to more than 24,000 hours of audio programs. Audible.com is Amazon.com's exclusive provider of spoken word products for downloading or streaming via the Web. Additionally, the Company is strategically aligned with Random House, Inc., to pioneer the first-ever imprint to produce spoken word content specifically suited for digital distribution, Random House Audible. Among the Company's key business partners are Casio Inc., Compaq Computer Corporation, S3 Incorporated's Rio Audio Group, Microsoft Corporation, Royal Philips Electronics, RealNetworks, Inc., Texas Instruments and VoiceAge Corp.

AudibleReady is a registered trademark of Audible, Inc. and www.audible.com is a trademark of Audible, Inc.

This press release contains information that is not historical fact and may be deemed to contain forward-looking statements. Actual results may differ materially from those anticipated in any forward-looking statements as a result of certain risks and uncertainties, including, without limitation, Audible's limited operating history, history of losses, uncertain market for its services, and its inability to license or produce compelling audio content and other risks and uncertainties detailed in the company's Securities and Exchange Commission filings.