Bankrate.com Announces New Chief Revenue Officer--Ned Newhouse; Founding Member of 24/7 Media Will be SVP of Sales and Syndication.Business Editors NORTH PALM BEACH, Fla.--(BUSINESS WIRE)--Aug. 28, 2000 Bankrate.com, the flagship site of ilife.com (Nasdaq:ILIF ILIF International Logistics Information File ILIF Integral Lock Induced Failure (firearms) ), announced today the addition of Ned Newhouse as Chief Revenue Officer and SVP SVP S'il Vous Plaît (French: Please) SVP Senior Vice President SVP Schweizerische Volkspartei (Swiss People~s Party) SVP Society of Vertebrate Paleontology SVP Social Venture Partners SVP St Vincent de Paul of Sales and Syndication. "Ned joins us from 24/7 Media Inc, a leading global provider of end-to-end advertising and marketing solutions for Web publishers. He was a founding member and held the position of VP, Director of Sales," said Elisabeth DeMarse, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ilife.com. "Ned brings a demonstrated track record of deep dot.com expertise and advertising revenue development needed to grow our franchise. Ned's proven leadership abilities at 24/7 Media, as well as his extensive network of corporate relationships, will be a tremendous benefit to Bankrate.com's business model moving forward. And Ned joins our company as we stand on the brink of profitability." "Ned's topline expertise will lead our business to its next phase," continued DeMarse. "Our focus is now on creating accounting profits while continuing to grow Bankrate.com as the Internet's leading consumer banking marketplace. Phases one and two--reducing expenses and divestiture of our non-core assets--are complete. We have enjoyed terrific revenue momentum, in spite of the troubled advertising climate that has plagued many of our peers. Bankrate's online revenue has grown 84% this year. Bankrate is the trusted source and comprehensive marketplace for consumer money market and banking information. Ned will lead the development and proliferation of the Bankrate brand through new partnerships, as well as increasing and expanding our advertising revenue and opportunities. My team is thrilled to be working alongside an executive with Ned's outstanding experience and track record." "The quality and quantity of the product and services offered by Bankrate.com is exciting and uniquely positions them as a leader," stated Ned Newhouse. "The outstanding work that Bankrate has accomplished to date has paved the way for what is sure to be a successful future for the company. Bankrate delivers a crucial base of leads to the banking community, driving thousands of qualified prospects to lenders with very compelling returns. I share Elisabeth DeMarse's enthusiasm for its tremendous potential and look forward to applying my experience to help Bankrate.com realize all of its goals." About Bankrate.com Bankrate.com is owned and operated by ilife.com (Nasdaq:ILIF). Bankrate.com is the Internet's leading consumer banking marketplace, with an average of 1.3 million unique visitors per month connecting with over 4,000 financial institutions in 126 markets in 50 states. Bankrate operates a portfolio of personal finance channels, including banking, investing, taxes and small business finance. It is the leading aggregator of 100 financial products, including mortgages, credit cards, new and used auto loans, money market accounts and CD's, checking and ATM fees, home equity loans and online banking fees. Bankrate provides financial applications and information to a network of over 120 partners including SNAP (Nasdaq:NBCI NBCI National Biological Control Institute (USDA subsidiary) NBCI North Branch Correctional Institute (Maryland) NBCI National Broadcasting Company Internet/Interactive ), Yahoo (Nasdaq:YHOO YHOO Yahoo! Inc. (NASDAQ symbol) ), America Online (NYSE NYSE See: New York Stock Exchange :AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. ), CNN CNN or Cable News Network Subsidiary company of Turner Broadcasting Systems. It was created by Ted Turner in 1980 to present 24-hour live news broadcasts, using satellites to transmit reports from news bureaus around the world. and Smart Money. The company's information is also distributed through more than 120 national and state publications. Forward-looking statements in this release are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Act. Investors are cautioned that actual results could differ materially from those anticipated by such statements and are advised to consult our current SEC filings for additional information concerning risk factors that affect the Company's business. |
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