NEW YORK, July 18, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- IAC/InterActiveCorp
(Nasdaq: IACI) and an Ad Hoc Committee of Certain Bondholders of the IAC 7%
Senior Notes due 2013 (the "IAC Notes") jointly announced that IAC and holders
holding over a majority in principal amount of the outstanding IAC Notes have
entered into an agreement, pursuant to which, among other things, IAC will
amend IAC's Offer to Purchase and Consent Solicitation dated June 11, 2008
(the "Offer") by next week. Under the terms of the Agreement, IAC will amend
the terms of its cash tender offer pursuant to which it has offered to
purchase all the outstanding IAC Notes to increase the price being offered by
reducing the fixed spread over the yield on the reference treasury security on
which the tender offer price is based from 215 basis points to 100 basis
points.

Under the Agreement, holders of a majority of the IAC Notes have consented
in accordance with the Agreement to certain amendments to the indenture under
which the IAC Notes have been issued, as described in the Offer. In addition,
pursuant to the Agreement, certain of these holders have agreed to tender
their IAC Notes into the Offer and certain have agreed, immediately following
the spinoff of Interval, to exchange (the "Exchange") IAC Notes for new 9.5%
senior unsecured notes due 2016 to be issued by Interval, one of the companies
to be spun off (the "Spinco") in connection with IAC's pending separation of
IAC into five publicly traded companies.

In connection with this Agreement, IAC stated that the issuance and
Exchange of the new Interval notes, together with the Offer as amended, are
being made in connection with the spinoff of the Spinco, and are intended to
give rise to a succession event (with Interval as the sole successor to IAC)
for credit derivatives purposes. IAC has retained Morgan Stanley & Co.,
Incorporated to act as the Dealer Manager for the tender offer and the
Solicitation Agent for the related consent solicitation. Questions regarding
the tender offer and the consent solicitation may be directed to Morgan
Stanley at (800) 624-1808 (toll-free) or (212) 761-1941 (collect) (Attn:
Liability Management). Requests for documentation, including the terms of the
Offer as to be amended when available, may be directed to MacKenzie Partners,
Inc., the Information Agent for the tender offer and consent solicitation, at
(800) 322-2885 (toll-free) or (212) 929-5500 (collect).

This press release is for informational purposes only and is neither an
offer to purchase nor a solicitation of an offer to sell the IAC Notes. This
press release also is not a solicitation of consents to the proposed
amendments to the indenture and the IAC Notes. The tender offer and consent
solicitation are being made solely by means of the tender offer and consent
solicitation documents, including the Offer to Purchase that IAC has
distributed to holders of IAC Notes, as will be amended. The tender offer and
consent solicitation are not being made to holders of IAC Notes in any
jurisdiction in which the making or acceptance thereof would not be in
compliance with the securities, blue sky or other laws of such jurisdiction.

Important Information

The matters discussed herein contain forward-looking statements. These
statements involve risks and uncertainties. Additionally, IAC is subject to
other risks and uncertainties set forth in its filings with the Securities and
Exchange Commission. These risks and uncertainties could cause actual results
to differ materially from any forward-looking statements made herein.

About IAC

IAC operates leading and diversified businesses in sectors being
transformed by the internet, online and offline... our mission is to harness
the power of interactivity to make daily life easier and more productive for
people all over the world. To view a full list of the companies of IAC please
visit our website at http://iac.com.

    Contacts
    IAC Investor Relations:        IAC Corporate Communications:
    Eoin Ryan                      Stacy Simpson/ Leslie Cafferty
    (212) 314-7400                 (212) 314-7470/ 7326

SOURCE IAC

http://www.iac.com

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