InfoSpace Response to Individual Shareholder Derivative Suit

Apr 04, 2001, 01:00 ET from InfoSpace, Inc.

    BELLEVUE, Wash., April 4 /PRNewswire/ -- On March 19, 2001, a derivative
 lawsuit was filed by an individual shareholder in King County Superior Court,
 Seattle. The complaint is derivative in nature and does not seek damages from
 InfoSpace, Inc. (Nasdaq: INSP). Rather, the complaint names current and former
 officers and directors, their marital communities and related entities as
 defendants. Under certain circumstances, InfoSpace may have certain
 obligations to indemnify its current and former directors and officers.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20000420/INFOLOGO )
     The plaintiff alleges insider trading on the part of certain defendants,
 breach of fiduciary duties by our directors in connection with the acquisition
 of Go2Net and other breaches of contractual obligations and fiduciary duties
 in connection with the Prio and Go2Net acquisitions. The plaintiff is seeking
 various remedies for the benefit of InfoSpace, including recovering profits
 from insider trading, restitution, accounting and imposition of a constructive
 trust, and unspecified monetary damages. InfoSpace is currently investigating
 the claims at issue and preparing our response.
 
     About InfoSpace
     InfoSpace is a leading global provider of cross-platform merchant and
 consumer infrastructure services on wireless, broadband, and narrowband
 platforms. The company provides commerce, information, and communication
 infrastructure services to wireless devices, merchants, and Web sites.
 InfoSpace's partners encompass a global network of wireless, PC, and non-PC
 devices, including cellular phones, pagers, screen telephones, television
 set-top boxes, online kiosks and personal digital assistants. InfoSpace has
 relationships with Verizon Wireless, AT&T Wireless, Cingular Wireless, Intel,
 Virgin Mobile, Hasbro, National Discount Brokers, and Bloomberg, among others.
 InfoSpace's affiliate network also consists of more than 3,200 Web sites that
 include AOL, Microsoft, NBC's Snap, Lycos, and ABC LocalNet. InfoSpace is also
 positioned to tap the market for broadband wired (DSL and cable) and broadband
 wireless (2.5G and 3G) services, such as interactive gaming, television and
 other entertainment services. In addition, the company recently added back-end
 payment processing to InfoSpace's existing commerce services, allowing
 InfoSpace to offer everything a merchant needs to conduct the entire lifecycle
 of a transaction, one of the key drivers of mobile commerce adoption.
 
     CONTACT:  investors, Nicole Knowles, Investor Relations Director,
 425-201-6100, or nicole.knowles@infospace.com, or media, Steve Stratz, PR
 Manager, 425-709-8167, or 206 357-4104, or steve.stratz@infospace.com, both
 for InfoSpace, Inc.
 
 

SOURCE InfoSpace, Inc.
    BELLEVUE, Wash., April 4 /PRNewswire/ -- On March 19, 2001, a derivative
 lawsuit was filed by an individual shareholder in King County Superior Court,
 Seattle. The complaint is derivative in nature and does not seek damages from
 InfoSpace, Inc. (Nasdaq: INSP). Rather, the complaint names current and former
 officers and directors, their marital communities and related entities as
 defendants. Under certain circumstances, InfoSpace may have certain
 obligations to indemnify its current and former directors and officers.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20000420/INFOLOGO )
     The plaintiff alleges insider trading on the part of certain defendants,
 breach of fiduciary duties by our directors in connection with the acquisition
 of Go2Net and other breaches of contractual obligations and fiduciary duties
 in connection with the Prio and Go2Net acquisitions. The plaintiff is seeking
 various remedies for the benefit of InfoSpace, including recovering profits
 from insider trading, restitution, accounting and imposition of a constructive
 trust, and unspecified monetary damages. InfoSpace is currently investigating
 the claims at issue and preparing our response.
 
     About InfoSpace
     InfoSpace is a leading global provider of cross-platform merchant and
 consumer infrastructure services on wireless, broadband, and narrowband
 platforms. The company provides commerce, information, and communication
 infrastructure services to wireless devices, merchants, and Web sites.
 InfoSpace's partners encompass a global network of wireless, PC, and non-PC
 devices, including cellular phones, pagers, screen telephones, television
 set-top boxes, online kiosks and personal digital assistants. InfoSpace has
 relationships with Verizon Wireless, AT&T Wireless, Cingular Wireless, Intel,
 Virgin Mobile, Hasbro, National Discount Brokers, and Bloomberg, among others.
 InfoSpace's affiliate network also consists of more than 3,200 Web sites that
 include AOL, Microsoft, NBC's Snap, Lycos, and ABC LocalNet. InfoSpace is also
 positioned to tap the market for broadband wired (DSL and cable) and broadband
 wireless (2.5G and 3G) services, such as interactive gaming, television and
 other entertainment services. In addition, the company recently added back-end
 payment processing to InfoSpace's existing commerce services, allowing
 InfoSpace to offer everything a merchant needs to conduct the entire lifecycle
 of a transaction, one of the key drivers of mobile commerce adoption.
 
     CONTACT:  investors, Nicole Knowles, Investor Relations Director,
 425-201-6100, or nicole.knowles@infospace.com, or media, Steve Stratz, PR
 Manager, 425-709-8167, or 206 357-4104, or steve.stratz@infospace.com, both
 for InfoSpace, Inc.
 
 SOURCE  InfoSpace, Inc.