NEW YORK, N.Y, September 24, 1998

eBay Inc., the world's largest person-to-person online trading community, announced today that it has completed its initial public offering of common stock on the Nasdaq National Market under the trading symbol EBAY. eBay sold 3,489,275 shares at $18.00 per share to an underwriting group led by Goldman Sachs & Co. with Donaldson, Lufkin & Jenrette Securities Corporation, BancBoston Robertson Stephens and BT Alex. Brown Incorporated as co-managers. An additional 10,725 shares were sold on behalf of a charitable foundation established by the Company.

eBay, the world's personal trading community^TM, is headquartered in San Jose, CA. eBay pioneered person-to-person online trading by developing an efficient and entertaining auction format trading site that is available 24 hours a day, seven days a week. Currently, eBay users list items in more than 1,000 categories, including antiques, books, movies and music, coins and stamps, collectibles, computers, dolls, jewelry and gemstones, photo and electronics, pottery and glass, sports memorabilia, and toys. There are currently over 650,000 items listed for sale. eBay has more than one million registered users.

Dulles, VA and San Jose, CA, September 2, 1998

America Online, the world's leading Internet online service, and eBay, the leading person-to-person online trading community, today announced they have signed a three-year agreement under which AOL will receive guaranteed payments from eBay totaling $12 million. The new alliance will make it easier than ever for AOL members to buy and sell merchandise from one another online.

Through the eBay service, AOL members interested in selling items simply post the item for sale in the appropriate category within the eBay area. eBay then facilitates the online auction for that item. Once the auction is complete and the winning bid identified, the winning bidder and the seller contact each other via email to complete the transaction. With eBay's unique service, AOL members can be sure they are getting market value for their merchandise in a safe online community. Likewise, members seeking to buy merchandise can find a wide selection of items in one safe, well-organized and convenient place online.

eBay, the world's personal trading community^TM, will be the exclusive person-to-person auction service in the general merchandise category of the AOL Classifieds area and in several areas of the hobbies section of the AOL Interest channel for a minimum of one year, and is also available at Keyword: eBay. Currently, eBay has more than 600,000 items for auction. As of June 30, 1998, on average, eBay had more than 70,000 items for auction added daily by its more than 850,000 registered users.

"More and more our members are realizing the ease and convenience of buying and selling online," said Barry Schuler, President of AOL Interactive Services. "Thanks to our expanded relationship with eBay, AOL members now have even easier access to their very own person-to-person trading community, ensuring they get the best possible price for their items, and giving buyers a convenient way to browse and shop."

Steve Westly, eBay Vice President, Marketing and Business Development added, "eBay is the leading person-to-person online trading community, and AOL is the leading Internet Service Provider. A partnership between the two is a natural synergy. This strengthened alliance will allow AOL members direct access to the greatest amount of choice when buying and selling online. In addition, AOL members will now have the added benefit of knowing they are part of eBay's safe, convenient online community."

eBay was founded in September 1995 and has provided its person-to-person auction services on AOL since December 1997.

America Online, Inc., based in Dulles, Virginia, is the world's leader in branded interactive services and content. America Online, Inc. operates two worldwide Internet online services: America Online, with more than 13 million members; and CompuServe, with approximately 2 million members. America Online, Inc. also operates AOL Studios, the world's leading creator of original interactive content. Other branded Internet services operated by America Online, Inc. include AOL.COM, the world's most accessed Web site from home; Digital City, Inc., the #1 branded local content network and community guide on AOL and the Internet; AOL NetFind, AOL's comprehensive guide to the Internet; AOL Instant Messenger, an instant messaging tool available on both AOL and the Internet; and ICQ, an instant communications and chat technology on the Internet.