Audible Inc. Announces Broad Online Audio Newspaper Distribution Agreement With The New York Times.

WAYNE, N.J. and NEW YORK--(BUSINESS WIRE)--Feb. 22, 1999--

"The New York Times Audio Digest on Audible" To Be Delivered Daily via

the Internet for Desktop And Mobile Playback on Audible

MobilePlayers(TM), Palm-size PCs, and other AudibleReady(TM) Devices

Audible Inc. and The New York Times News Services announced today an agreement to create and distribute via the Internet a daily audio digest of The New York Times, available from Audible's Web site, www.audible.com.

The New York Times Audio Digest on Audible is now available for automated download every morning from Audible.com, the leader in distribution of premium audio via the Internet. Audio subscribers can listen to edited stories from the front page, national, international, business, and sports sections, as well as the editorial and OpEd pages of The New York Times. This audio version is created and edited by the News Services division of The New York Times, which assembles digest products for travel and corporate markets worldwide.

Users of Audible.com can listen to audio programs to which they subscribe at the desktop or away from a PC. The Audible MobileAudio(TM) System and related AudibleManager(TM) Software supports the 3.5-ounce handheld Audible MobilePlayer(TM) and other "AudibleReady" handheld devices. The Audible MobilePlayer is an Internet audio player that holds two hours of audio. The recently introduced MobilePlayer-PLUS(TM) holds more than seven hours of audio. Along with Audible's support for the Diamond Multimedia Rio PMP300 audio player, the Microsoft Corporation is integrating Audible's AudiblePlayer(TM) software into its Windows CE platform for Palm-size PCs, allowing users of these products to access, download, and play back any of the audio available on demand or by subscription at Audible.com.

As with many Audible.com programs, The New York Times Audio Digest on Audible is embedded with digital "skip points," which will allow the listener to quickly hear headlines and lead stories from each section of the day's paper for personalized control of the listening experience.

The New York Times Audio Digest on Audible will be available for automatic download to PCs and playback by 6:00AM EST daily. Subscribers will have the option to have the audio automatically downloaded to the listener's player for "lift and listen" convenience. Subscriptions to The New York Times Audio Digest on Audible will be available for $6.95 per month or $49.95 per year, with a free two-week trial subscription available at Audible.com/NYT to sample the service.

"Now any commuter, anyone who exercises, and anyone else looking to take advantage of those times when you can't read, can listen to The New York Times," said Donald Katz, founder of Audible. "We are proud to enable the personalized delivery of daily audio programming that includes the incomparable voice and reportorial authority of The New York Times."

"Our relationship with Audible is indicative of our commitment to bringing the most trusted source of news and information to new audiences," noted Tom Carley, director of business development for The New York Times News Services division.

About Audible Inc.

Founded in 1995, Audible Inc., based in Wayne, NJ, aims to combine the growing popularity of spoken audio programming with the rapid development of commercial viability of the Internet. The company is focused on audio content sourcing, development, packaging, secure delivery, and playback, as well as continued development of the platform, tools, services, and varied licensing opportunities afforded by the Audible MobileAudio System. The company services Internet-savvy business professionals and other consumers whose primary needs include staying informed of critical business information and having access to the best entertainment-based audio. Audible provides unique content services that allows customers to program their own listening time and take better advantage of their commute and travel time by delivering premium information and entertainment when and where they need it.

Audible Inc.'s investors include AT&T Ventures, Compaq Computer Corporation, Hambrecht & Quist LLC, The Intel Corporation, Ironwood Capital, Kleiner Perkins Caufield & Byers, Patricof & Co., and TTC Ventures (The Thompson Corporation).

About The New York Times Company

The New York Times Company is a diversified media company including newspapers, magazines, television and radio stations, and electronic information and publishing. The Company's core purpose is to enhance society by creating, collecting and distributing high-quality news, informading Golf Digest; and operates eight network-affiliated television stations and two New York City radio statelectronic publishing and new media. The Company holds interests in one newsprint mill, one supercalendered p symbol "NYT."