CBS Corporation Exercises Warrants to Purchase 380,000 Shares of SportsLine USA, Inc. Common Stock.

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--December 16, 1998-- SportsLine USA, Inc. (Nasdaq: SPLN), publisher of CBS SportsLine, today announced that CBS Corporation has exercised warrants to purchase 380,000 shares of SportsLine USA's Common Stock at $15.00 per share, resulting in net proceeds to the Company of $5.7 million. Upon the exercise of the warrants, CBS Corporation owns approximately 2.05 million shares of SportsLine USA Common Stock, or approximately 10.4% of the Company's outstanding shares.

The warrants were issued pursuant to a five-year agreement between CBS and SportsLine USA, signed on March 5, 1997, wherein the Company's flagship Internet site was renamed cbs.sportsline.com. Over the remaining term of the agreement, CBS will receive 1.61 million additional shares of SportsLine USA Common Stock as well as warrants to purchase up to 1.14 million additional shares at prices ranging between $20.00 - $30.00 per share.

SportsLine USA, Inc. is a leading Internet-based sports media company that provides branded, interactive information and programming as well as merchandise to sports enthusiasts worldwide. SportsLine USA publishes CBS SportsLine, which features more than 400,000 pages of multimedia sports information, entertainment and merchandise covering all major professional, collegiate and international sports and includes exclusive content from sports teams, organizations and superstars such as Michael Jordan, Tiger Woods and Shaquille O'Neal. SportsLine USA was founded in 1994, and its Internet sports service was renamed CBS SportsLine in March of 1997 as part of an exclusive five-year promotional and content agreement with CBS Sports.