Mitsui & Co. Global Investment (MGI) - Venture Capital, Start-Up

NEWS 2007

[05/14/2007]

IAC Launches Ask(R) Mobile GPS

First Mobile Application to Combine Local Content, Social Networking & GPS Navigation

NEW YORK, May 14 /PRNewswire-FirstCall/ -- IAC today announced the availability of AskR Mobile GPS(TM), a GPS-enabled lifestyle application featuring the best of Ask.com, Citysearch, and Evite.com, along with instant location finder and turn-by-turn navigation powered by the Global Positioning System. The service -- the first ever to combine local content, social networking and GPS navigation -- is now available for download at http://gps.ask.com.

"Ask Mobile GPS is just the start of our commitment to creating outstanding mobile offerings. IAC has the brands consumers love and use for life's every day activities, and our resources and scale give us the ability to integrate the best of our products and services into a holistic mobile offering for consumers," said Doug Lebda, President and Chief Operating Officer of IAC. "This year we'll add more IAC brands to the application, such as Match.com, Ticketmaster and RealEstate.com, and we plan to expand to a broad array of mobile phones and services to support as many of our 275 million worldwide users as possible."

Ask Mobile GPS is the latest offering from the award-winning Ask Mobile family. The program uses an iconic widget interface that makes navigation fast and fun. Unique features include:

• Browse Citysearch's millions of listings to find restaurants, bars, ATMs, spas, boutiques -- just about anything you want. Search by specific business name (i.e. Starbucks) or by key word (i.e. coffee).
• Easily view businesses on a pan-able and zoom-able map. GPS technology automatically finds matches nearby. Citysearch instantly serves up address, phone number, business hours, parking information, editorial reviews and ratings, and user reviews. Once you have what you want, click to call or navigate to the location with a single click.
• View your Evite invitations, including guest lists and locations. Keep up to date with any changes in location and time, view the latest guest list, and automatically navigate to your events.
• Navigate around town with turn-by-turn driving directions and even walking directions powered by GPS navigation. With voice prompts leading the way, you can keep your eyes on the road. There are no wrong turns -- Ask Mobile GPS will re-calculate new routes for you on the fly. Choose the fastest route or the shortest; even avoid highways.
• Stay connected with friends. Turn your address book into a social network. Let the GPS technology pinpoint your location so you can broadcast it (with a note, if you want) to anyone in your contact list. Friends receive a text message with a link to a map showing your location. Use one of the auto-suggested businesses nearby to pick the perfect meet-up spot.
• Save time by typing less. Ask Mobile GPS was built with the philosophy of minimizing key strokes in every way possible.
• GPS technology automatically finds nearby locations and businesses without having to enter in your location
• Categories and specific businesses are automatically suggested when searching for local business listings
• Nearby cities are suggested when entering your location
• Nearby airports are suggested when searching airports
• Save Addresses and Directions so they're right there when you need them again. No need to type them again.

"With Ask Mobile GPS, your cell phone is like the remote control for your life. With the bundling of GPS with our lifestyle brands, your phone knows exactly where you are, so there's far less hunt-and-peck entering of information on the keypad when you're out and about," said Jim Lanzone, CEO of Ask.com. "We've adapted our brands specifically for mobile phones -- we're not force-fitting content that should be read on a computer screen onto a cell phone."

Ask Mobile GPS was built in partnership with WaveMarket, Inc., a global leader in mobile applications and GPS technology. WaveMarket's advanced GPS- based technologies provide the backbone to the application.

"WaveMarket has been IAC's key partner in executing our mobile strategy. Their unique combination of advanced technology, including GPS location and navigation, along with a user-focused design philosophy, go hand-in-hand with the quality we expect of all our products and services," said Andy Yang, Senior Director of Strategic Planning for IAC.

About WaveMarket Inc.

WaveMarket Inc., headquartered in Emeryville, Calif., is a world leader in mobile location-based search and services, offering a software product suite that includes both white-label solutions and mobile platform components. White-label solutions include WaveMarket's industry-leading family finder, search, and asset tracker services, with more than a half-dozen commercial deployments in the United States, Canada, and Latin America. WaveMarket's mobile platform components include turn-by-turn navigation, mobile social networking and dynamic tiled mapping, all designed to be commercially deployed with partner brands such as the WaveMarket-designed and engineered Ask Mobile GPS. Marketing to brands and mobile carriers in the United States, Europe and Asia, WaveMarket's customers include top tier North American carriers Sprint Nextel, Cingular, Bell Mobility of Canada, and SK Telecom, South Korea's leading wireless carrier. Founded in 2000, the company is financed by a group that includes Draper Fisher Jurvetson, QUALCOMM Ventures, BlueRun Ventures (formerly Nokia Venture Partners), Intel Capital, and Mitsui Ventures. For more information, please visit http://www.wavemarket.com.

Press Contact:

Emily Chae or Valerie Christopherson
Global Results Communications
echae@globalresultspr.com or
valeriec@globalresultspr.com
(949) 608-0276