Better Business Bureau Reinstates Priceline.com.

Business & Travel Editors

WALLINGFORD & NORWALK, Conn.--(BUSINESS WIRE)--Dec. 20, 2000

The Connecticut Better Business Bureau and priceline.com (Nasdaq: PCLN) announced today that priceline.com has been fully reinstated in the business/consumer organization as a member in good standing, effective immediately.

"After a review of the ongoing enhancements priceline.com is making to its Web site and customer service, we believe that priceline.com has aligned its business in accordance with the tenets of the Better Business Bureau. We are pleased to welcome them back into the organization as a member in good standing and return the Better Business Bureau seal to priceline.com," said Jacqueline Bucar, Chairman of the Connecticut Better Business Bureau and partner in the New Haven-based law firm, Tyler, Cooper & Alcorn.

"We are pleased with the Better Business Bureau's decision and look forward to renewing a close working relationship with them," said Daniel H. Schulman, priceline.com's President and CEO. "Having the BBB seal is another indication of the strength and reliability of priceline.com as a valuable resource for consumers' travel needs."

Priceline.com also said today that it had named former New York State Attorney General and nationally known consumer advocate Robert Abrams, as an advisor to provide ongoing feedback on the Company's products and practices. Mr. Abrams' suggestions were factored into priceline.com's most recent enhancements, which the Company shared last month with the Better Business Bureau.

"We listened closely to what the Better Business Bureau had to say, and much of their feedback mirrored what we were hearing from our customers," said Mr. Schulman. "Our entire organization worked hard to distill that commentary into a series of ongoing enhancements for our customers. Today, we're proud to say that our airline product is even better, with quicker response times, faster connections, more direct routing and more non-stops; our Web site is faster and clearer than ever; our customer service organization is available 24/7 and has made significant improvements in responsiveness and issue resolution; and our back-office systems automation has been enhanced."

"Priceline.com's reinstatement was the appropriate action and I commend both organizations," said Mr. Abrams. "As one of the nation's foremost consumer advocacy groups, the Better Business Bureau did its job to raise questions and priceline.com addressed them in a responsible, timely manner. I've found priceline.com to be a company that is committed to customer satisfaction and is willing to invest the time and resources to make meaningful consumer-friendly changes. I think this is an excellent example of how businesses and consumer organizations can and should work together in the best interests of the consumer."

About The Better Business Bureau

The mission of the Better Business Bureau is to promote and foster the highest ethical relationship between businesses and the public through voluntary self-regulation, consumer and business education, and service excellence. The Council of Better Business Bureaus is the umbrella organization for the Better Business Bureau system, which was founded in 1912 and is today supported by 250,000 local business members nationwide. There are 129 local Better Business Bureaus around the country, including Connecticut, and its membership includes over 300 leading-edge national corporations.

About Robert Abrams

Mr. Abrams, a 1963 graduate of NYU School of Law, began his public service career at 27 when he was elected to the first of three terms in the New York State Assembly. He has since served as Bronx Borough President for three terms and Attorney General of New York State for four terms. Mr. Abrams was a national leader among attorney generals, becoming President of the National Association of Attorney Generals and being selected as the recipient of the Wyman Award as the outstanding Attorney General in the country.

His duties at priceline.com include an ongoing review of priceline.com's Web site, including explanations, disclosure language, product features and enhancements, as well as customer service procedures and practices. In addition, he serves as a consultant to the company's management on issues related to policies and product development.

About priceline.com

Priceline.com is the Name Your Own Price(sm) Internet pricing system that provides services across four broad product categories: a travel service that offers leisure airline tickets, hotel rooms and rental cars; a personal finance service that offers home mortgages, refinancing and home equity loans through an independent licensee; an automotive service that offers new cars; and a telecommunications service that offers long distance calling services.

Priceline.com licenses its business model to independent licensees, including pricelinemortgage and certain international licensees. In these arrangements, priceline.com generally receives royalties for licensing its intellectual property.

Priceline.com also holds securities carrying the right to purchase a significant equity stake in the licensees under certain conditions. Unless those rights are exercised, the results of licensee operations will not be included in priceline.com's financial statements.

Information about Forward Looking Statements

This press release may contain forward-looking statements. Expressions of future goals and similar expressions including, without limitation, "may," "will," "should," "could," "expects," "does not currently expect," "plans," "anticipates," "believes," "estimates," "predicts," "potential," or "continue," reflecting something other than historical fact are intended to identify forward-looking statements. The following factors, among others, could cause the Company's actual results to differ materially from those described in the forward-looking statements: inability to successfully expand the Company's business model both horizontally and geographically; adverse changes in the Company's relationships with airlines and other product and service providers; systems-related failures; the Company's ability to protect its intellectual property rights; the effects of increased competition; losses by the Company and its licensees; any adverse impact from negative publicity and negative customer reaction relating to recent announcements concerning the Company; legal and regulatory risks and the ability to attract and retain qualified personnel. For a detailed discussion of these and other factors that could cause the Company's actual results to differ materially from those described in the forward-looking statements, please refer to the Company's most recent Form 10-Q and Form 10-K filings with the Securities and Exchange Commission.