Dara Khosrowshahi EVP & Chief Financial Officer Deutsche Bank Media Conference June 9, 2004

Prepared 6/9/04 with minor subsequent edits - Read important disclaimer(s) 2 Important Safe Harbor Statement Under The Private Securities Litigation Reform Act Of 1995 This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, particularly statements anticipating future growth in revenues and operating income before amortization. Words such as “believes,” “could,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “projects,” “seeks,” or similar expressions used in connection with any discussion of future operating or financial performance identify forward-looking statements. These forward-looking statements are necessarily estimates reflecting the best judgment of IAC’s senior management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties are described in IAC’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including its Annual Report on Form 10-K for the fiscal year ended 2003, especially in the Risk Factors and the Management’s Discussion and Analysis sections, its Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K. Other unknown or unpredictable factors also could have material adverse effects on IAC’s future results, performance or achievements. In light of these risks and uncertainties, the forward-looking events discussed in this presentation may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this presentation. IAC is not under any obligation and does not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this presentation to reflect circumstances existing after the date of this presentation or to reflect the occurrence of future events even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized.

Prepared 6/9/04 with minor subsequent edits - Read important disclaimer(s) 3 Supplying Demand Customer data includes duplication. $60 Billion 40 mm Active CUSTOMERS 180 mm TRANSACTIONS Thousands of PRODUCTS & SERVICES 140,000 SUPPLY PARTNERS

Prepared 6/9/04 with minor subsequent edits - Read important disclaimer(s) 4 Adding Value Choice / Product Depth Convenience / Ease of Use Great Values Information / Relevance Exclusivity / Uniqueness CONSUMERS Customer Acquisition Multiple Distribution Channels Market Segmentation Marketing Strength Yield Management SUPPLIERS Leading Brands Innovation & Technology Scale Merchandising Capital IAC aggregates

Prepared 6/9/04 with minor subsequent edits - Read important disclaimer(s) 5 Operating Multiple Brands Electronic RetailingTicketing IAC Local & Media Services Financial Services & Real Estate Personals IAC Travel

Prepared 6/9/04 with minor subsequent edits - Read important disclaimer(s) 6 Delivering Strong Results LTM $1,813 revenue $548 OIBA 30% margin Segment results for last twelve months (Q2 ’03 – Q1 ’04). IAC Travel revenue as if Hotels.com on net basis. $2,288 revenue $202 OIBA 9% margin $750 revenue $150 OIBA 20% margin $193 revenue $35 OIBA 18% margin $ in millions $254 revenue $19 OIBA 8% margin $161 revenue $21 OIBA 13% margin Electronic RetailingTicketingIAC Travel IAC Local & Media Services Financial Services & Real Estate Personals

Prepared 6/9/04 with minor subsequent edits - Read important disclaimer(s) 7 Leading the Market $2T market $53B online; $6B TV 28% share of TV #2 $28B market $3B online 66% share online #1 $220B market $44B online 20% share online #1 $1.5B market $450M online 30% share online #1 $60B market $4B online $5T market $185B online 20% share online #2 Ticketing includes event and movie ticketing. Data based on Jupiter and IAC estimates. Local includes directional advertising (newspapers, yellow pages, and coupons) only; excludes local TV/radio. Electronic RetailingTicketingIAC Travel IAC Local & Media Services Financial Services & Real Estate Personals

Prepared 6/9/04 with minor subsequent edits - Read important disclaimer(s) 8 Mining Big Opportunities Online migration Corporate International Destination services Close gap w/ QVC Multi-channel Turnaround Germany Unsold tickets Box office share Direct marketing International 90 mm singles Matching technology International Social networking Search Pay for performance Digital offers Online migration Real estate New products Electronic RetailingTicketingIAC Travel IAC Local & Media Services Financial Services & Real Estate Personals

Prepared 6/9/04 with minor subsequent edits - Read important disclaimer(s) 9 Travel

Prepared 6/9/04 with minor subsequent edits - Read important disclaimer(s) 10 IACT Portfolio Packages Complex itineraries Business travel Air tickets Hotel rooms Rental cars $$$$ $ SimpleComplex

Prepared 6/9/04 with minor subsequent edits - Read important disclaimer(s) 11 IACT Portfolio vs. Competitors

Prepared 6/9/04 with minor subsequent edits - Read important disclaimer(s) 12 IACT is Outpacing the Market $ in millions Expedia Travelocity Orbitz Hotels.com Priceline Trip Network

Prepared 6/9/04 with minor subsequent edits - Read important disclaimer(s) 13 U.S. Hotel Occupancy Rates Source: Smith Travel Research Peak times Low times: hotels need help

Prepared 6/9/04 with minor subsequent edits - Read important disclaimer(s) 14 IACT Key Challenges  Occupancy rates  Marketing costs  Pricing  Raw margins

Prepared 6/9/04 with minor subsequent edits - Read important disclaimer(s) 15 $- $500 $1,000 $1,500 $2,000 $2,500 $3,000 Worldwide Opportunity Global Travel + Tourism Travel Destination Services Travel Destination Services Travel Destination Services $2.6 trillion Travel Destination Services Travel Destination Services Travel Destination Services U.S. $220 billion Global Europe Other US Europe Other US $850 billion Europe Other US Europe Other US Europe Other US Europe Other U.S.

Prepared 6/9/04 with minor subsequent edits - Read important disclaimer(s) 16 U.S. (Jan ‘98 - Dec ‘00)Europe (Jan ‘02 - Mar ‘04) Gross Bookings Europe is Tracking the U.S. $ in millions

Prepared 6/9/04 with minor subsequent edits - Read important disclaimer(s) 17 IACT Waves of Growth2002 Domestic 2004 Europe 2005 Corporate 2006 Classic 2007 Asia

Prepared 6/9/04 with minor subsequent edits - Read important disclaimer(s) 18 Integrating Naturally

Prepared 6/9/04 with minor subsequent edits - Read important disclaimer(s) 19 Integrating Naturally  $58mm intra-IACT in Q1  $75mm in sourcing savings over 3 yrs.  Best practices  Paid search marketing  Credit fraud protection  Information technology  People movement  Shared learning & expertise

Prepared 6/9/04 with minor subsequent edits - Read important disclaimer(s) 20 Growth Goods Travel Ticketing Financial & Realty x Personals Local Services $2,000 $550 $280 $130 $100 $524 $223 $ OIBA = $860 5-Year OIBA Goal = $3,000 CAGR Goal $150 25% to 35% 20% to 25% 15% to 20% 80% to 90% 25% to 30% 45% to 50% 2003 and 2008 total OIBA is after corporate and other expenses. $ in millions

Prepared 6/9/04 with minor subsequent edits - Read important disclaimer(s) 21 IAC’s Competitive Advantage  43 leading brands  Strong balance sheet  Ability to invest aggressively in new growth areas  Shared learning and natural relationships across Businesses  Diversity & reduced volatility

Harnessing the power of interactivity to make people’s lives easier, everywhere and everyday.

Prepared 6/9/04 with minor subsequent edits - Read important disclaimer(s) 23 Reconciliations $ in millions LTM results for Financial Services and Real Estate include LendiingTree as of Q