San Jose, Calif. - Jan. 20, 1998

eBay^TM, the leading person-to-person online auction site ( www.ebay.com ), today announced that it had exceeded 21 million online auction bids and completed more than 5 million auctions since the company's inception in 1995. Currently, eBay receives 120,000 bids per day and hosts more than 200,000 auctions a day, on average. More than 80 percent of the listed items are sold.

With more than 400,000 registered users, eBay generated more than $105 million in gross merchandise sales in 1997. In the fourth quarter alone, eBay completed $55 million in sales.

"eBay users represent the largest and most active trading community on the Web," said Pierre Omidyar, eBay founder and CEO. "Once users find eBay, they come back time and time again, because we are the proven leader in person-to-person online auctions."

According to Media Metrix, the leading Web audience measurement company, eBay is one of the top 12 most-visited online shopping sites on the Web and experiences longer visits per user than any other Web site on the Internet.1

"Auction sites have been able to foster stronger customer relationships through their sales formats, resulting in larger customer bases and longer-length user visits," said Nicole Vanderbilt, group director of digital commerce at Jupiter Communications, a New York-based market research firm.

Sunnyvale, Calif. - Jan. 13, 1998

First Auction ( www.firstauction.com ), the online auction site from Internet Shopping Network and eBay ( www.ebay.com ), the largest person to person auction site on the Internet, today announced a partnership agreement that would significantly expand the reach and scope of both commerce sites. "People are bidding on First Auction because they can get great deals and experience the thrill of interactive auctions online," said Kirk Loevner, President and CEO of Internet Shopping Network. "eBay's hundreds of thousands of person to person auctions provide even more opportunities to save dollars and offers more excitement for our growing customer base," added Loevner.

"The partnership with First Auction offers eBay visitors access to the premier online auction site offering a wide selection of brand name merchandise and unrivalled customer service," said Pierre Omidyar, CEO of eBay.

Both eBay and First Auction have significant presence on each other's sites, including links to various merchandise categories. Future promotions, contests and sweepstakes will be available to users of both sites.

While the two companies will actively promote each other's commerce sites, both will maintain their strict policies of keeping members email addresses and other membership information separate and confidential. The partnership greatly benefits online auction customers, who can now experience the largest "person to person" auction site and the widest selection of new auction merchandise on the Internet. The increasing popularity of online auctions has made it the fastest growing sector of Internet commerce.

About First Auction Launched in June of 1997, First Auction has become the fastest growing online auction site offering brand name merchandise. Over 5,000 items are auctioned each week with merchandise ranging from computers and consumer electronics to housewares and jewelry. "Flash Auctions," which last thirty minutes and have an opening bid price of one dollar, are an exclusive feature of First Auction.

About Internet Shopping Network Internet Shopping Network ( www.isn.com ) is a wholly owned subsidiary of Home Shopping Network. ISN's Computer Superstore ( www.css.isn.com ) was the first online store in the world when it was launched in April 1994. First Auction ( www.firstauction.com ) is a new commerce site featuring computer, consumer electronics and Home Shopping Network merchandise sold in an online auction format. Shoppers can find Internet Shopping Network at www.isn.com