<SUBMISSION>
<ACCESSION-NUMBER>0000950123-06-015037
<TYPE>SC TO-I
<PUBLIC-DOCUMENT-COUNT>18
<FILING-DATE>20061211
<DATE-OF-FILING-DATE-CHANGE>20061211
<SUBJECT-COMPANY>
<COMPANY-DATA>
<CONFORMED-NAME>Expedia, Inc.
<CIK>0001324424
<ASSIGNED-SIC>4700
<IRS-NUMBER>202705720
<FISCAL-YEAR-END>1205
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC TO-I
<ACT>34
<FILE-NUMBER>005-80935
<FILM-NUMBER>061269413
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>3150 139TH AVENUE SE
<CITY>BELLEVUE
<STATE>WA
<ZIP>98005
<PHONE>(425)679-7200
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>3150 139TH AVENUE SE
<CITY>BELLEVUE
<STATE>WA
<ZIP>98005
</MAIL-ADDRESS>
</SUBJECT-COMPANY>
<FILED-BY>
<COMPANY-DATA>
<CONFORMED-NAME>Expedia, Inc.
<CIK>0001324424
<ASSIGNED-SIC>4700
<IRS-NUMBER>202705720
<FISCAL-YEAR-END>1205
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC TO-I
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>3150 139TH AVENUE SE
<CITY>BELLEVUE
<STATE>WA
<ZIP>98005
<PHONE>(425)679-7200
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>3150 139TH AVENUE SE
<CITY>BELLEVUE
<STATE>WA
<ZIP>98005
</MAIL-ADDRESS>
</FILED-BY>
<DOCUMENT>
<TYPE>SC TO-I
<SEQUENCE>1
<FILENAME>y27824sctovi.htm
<DESCRIPTION>SCHEDULE TO
<TEXT>
<HTML>
<HEAD>
<TITLE>SC TO-I</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<CENTER style="font-size: 1pt; width: 100%; border-bottom: 2pt solid #000000"></CENTER><!-- callerid=999 iwidth=504 length=0 -->

<CENTER style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=999 iwidth=504 length=0 -->

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 14pt">SECURITIES AND EXCHANGE
    COMMISSION</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 12pt">WASHINGTON, D.C.
    20549</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 16%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=999 iwidth=504 length=84 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 18pt">Schedule&#160;TO</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 12pt"><FONT style="white-space: nowrap">(Rule&#160;14d-100)</FONT></FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 12pt">Tender Offer Statement under
    Section</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 12pt">14(d)(1) or 13(e)(1) of the
    Securities Exchange Act of 1934</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 16%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=999 iwidth=504 length=84 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 24pt">Expedia, Inc.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I><FONT style="font-size: 8pt">(Name of Subject Company
    (Issuer))</FONT></I>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 24pt">Expedia, Inc.
    (Issuer)</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I><FONT style="font-size: 8pt">(Name of Filing Person
    (Identifying Status as Offeror, Issuer or Other
    Person))</FONT></I>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Common Stock, Par Value $.001 Per Share</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I><FONT style="font-size: 8pt">(Title of Class of
    Securities)</FONT></I>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>30212P105</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I><FONT style="font-size: 8pt">(CUSIP Number of Class of
    Securities)</FONT></I>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Burke F. Norton,&#160;Esq.</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Executive Vice President, General Counsel and Secretary</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Expedia, Inc.</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>3150 139th&#160;Avenue S.E.</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Bellevue, WA 98005</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Telephone:
    <FONT style="white-space: nowrap">(425)&#160;679-7200</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I><FONT style="font-size: 8pt">(Name, Address and Telephone
    Number of Person Authorized</FONT></I>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I><FONT style="font-size: 8pt">to Receive Notices and
    Communications on Behalf of Filing Persons)</FONT></I>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I>Copy to:</I></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Pamela S. Seymon,&#160;Esq.</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Wachtell, Lipton, Rosen&#160;&#38; Katz</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>51&#160;West 52nd&#160;Street</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>New York, New York 10019</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Telephone:
    <FONT style="white-space: nowrap">(212)&#160;403-1000</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">CALCULATION
    OF FILING FEE</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="50%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterright -->
    <TD width="48%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom" style="border-top: 3px double #000000">
    <B>Transaction Valuation*</B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 3px double #000000">
    <B>Amount of Filing Fee**</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top" style="border-top: 1px solid #000000">
    <FONT style="font-size: 10pt">$660,000,000
    </FONT>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="top" style="border-top: 1px solid #000000">
    <FONT style="font-size: 10pt">$70,620
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <FONT style="font-size: 9pt">*&#160;
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 9pt">Calculated solely for purposes of
    determining the amount of the filing fee. Pursuant to
    <FONT style="white-space: nowrap">rule&#160;0-11(b)(1)</FONT>
    of the Securities Exchange Act of 1934, as amended, the
    Transaction Valuation was calculated assuming that 30,000,000
    outstanding shares of common stock, par value $.001&#160;per
    share, are being purchased at the maximum possible tender offer
    price of $22.00 per share.
    </FONT></TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="left" valign="top">
    <FONT style="font-size: 9pt">**
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 9pt">The amount of the filing fee,
    calculated in accordance with Rule&#160;0-11(b)(1) of the
    Securities Exchange Act of 1934, as amended, equals $107.00 per
    million of the value of the transaction.
    </FONT></TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="wingdings">o</FONT>&#160;&#160;</TD>
    <TD align="left">
    Check box if any part of the fee is offset as provided by
    <FONT style="white-space: nowrap">Rule&#160;0-11(a)(2)</FONT>
    and identify the filing with which the offsetting fee was
    previously paid. Identify the previous filing by registration
    statement number, or the Form or Schedule and the date of its
    filing.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="50%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="48%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Amount Previously Paid:&#160;N/A
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Filing Party:&#160;N/A
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Form or Registration No.:&#160;N/A
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Date Filed:&#160;N/A
    </FONT>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="wingdings">o</FONT>&#160;&#160;</TD>
    <TD align="left">
    Check the box if the filing relates solely to preliminary
    communications made before the commencement of a tender offer.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Check the appropriate boxes below to designate any transactions
    to which the statement relates:
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="4%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT face="wingdings">o</FONT>&#160;&#160;
</TD>
    <TD align="left">
    third-party tender offer subject to
    <FONT style="white-space: nowrap">Rule&#160;14d-1.</FONT>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="3%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT face="wingdings">x</FONT>&#160;
</TD>
    <TD align="left">
    issuer tender offer subject to
    <FONT style="white-space: nowrap">Rule&#160;13e-4.</FONT>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="4%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT face="wingdings">o</FONT>&#160;&#160;
</TD>
    <TD align="left">
    going-private transaction subject to
    <FONT style="white-space: nowrap">Rule&#160;13e-3.</FONT>
</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT face="wingdings">o</FONT>&#160;&#160;
</TD>
    <TD align="left">
    amendment to Schedule&#160;13D under
    <FONT style="white-space: nowrap">Rule&#160;13d-2.</FONT>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Check the following box if the filing is a final amendment
    reporting the results of the tender
    offer:&#160;&#160;<FONT face="wingdings">o
    </FONT>
</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=999 iwidth=504 length=0 -->

<CENTER style="font-size: 1pt; width: 100%; border-bottom: 2pt solid #000000"></CENTER><!-- callerid=999 iwidth=504 length=0 -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    This Tender Offer Statement on Schedule&#160;TO relates to the
    tender offer by Expedia, Inc., a Delaware corporation
    (&#147;Expedia&#148;), to purchase for cash up to
    30,000,000&#160;shares of its common stock, par value
    $.001&#160;per share, at a price not more than $22.00 nor less
    than $18.50 per share, net to the seller in cash, without
    interest, upon the terms and subject to the conditions set forth
    in the offer to purchase, dated December&#160;11, 2006 (the
    &#147;Offer to Purchase&#148;) and the accompanying letter of
    transmittal (the &#147;Letter of Transmittal&#148;), which
    together, as each may be amended and supplemented from time to
    time, constitute the tender offer. This Schedule&#160;TO is
    intended to satisfy the reporting requirements of
    <FONT style="white-space: nowrap">Rule&#160;13e-4(c)(2)</FONT>
    of the Securities Exchange Act of 1934, as amended. The
    information contained in the Offer to Purchase and the
    accompanying Letter of Transmittal, copies of which are attached
    to this Schedule&#160;TO as Exhibits&#160;(a)(1)(A) and
    (a)(1)(B), respectively, is incorporated herein by reference in
    response to all of the items of this Schedule&#160;TO as more
    particularly described below.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">1.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Summary
    Term Sheet.</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The information set forth under &#147;Summary Term Sheet&#148;
    in the Offer to Purchase is incorporated herein by reference.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">2.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Subject
    Company Information.</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (a)&#160;<I>Name and Address.</I>&#160;&#160;The name of the
    issuer is Expedia, Inc. The address of the principal executive
    offices of Expedia, Inc. is 3150&#160;139th&#160;Avenue S.E.,
    Bellevue, Washington 98005. The telephone number of the
    principal executive offices of Expedia, Inc. is
    <FONT style="white-space: nowrap">(425)&#160;679-7200.</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (b)&#160;<I>Securities.</I>&#160;&#160;The information set forth
    in the Introduction to the Offer to Purchase is incorporated
    herein by reference.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (c)&#160;<I>Trading Market and Price.</I>&#160;&#160;The
    information set forth in Section&#160;8 of the Offer to Purchase
    (&#147;Price Range of Shares; Dividends&#148;) is incorporated
    herein by reference.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">3.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Identity
    and Background of Filing Person.</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Expedia, Inc. is the filing person. Expedia, Inc.&#146;s address
    and telephone number are set forth in Item&#160;2 above. The
    information set forth in Section&#160;11 of the Offer to
    Purchase (&#147;Interests of Directors and Executive Officers;
    Transactions and Arrangements Concerning Shares&#148;) is
    incorporated herein by reference.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">4.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Terms of
    the Transaction.</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (a)&#160;<I>Material Terms.</I>&#160;&#160;The following
    sections of the Offer to Purchase contain information regarding
    the material terms of the transaction and are incorporated
    herein by reference.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Summary Term Sheet;
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Introduction;
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Section&#160;1 (&#147;Number of Shares; Proration&#148;);
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Section&#160;2 (&#147;Purpose of the Tender Offer&#148;);
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Section&#160;3 (&#147;Procedures for Tendering Shares&#148;);
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Section&#160;4 (&#147;Withdrawal Rights&#148;);
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Section&#160;5 (&#147;Purchase of Shares and Payment of Purchase
    Price&#148;);
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Section&#160;6 (&#147;Conditional Tender of Shares&#148;);
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Section&#160;7 (&#147;Conditions of the Tender Offer&#148;);
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Section&#160;9 (&#147;Source and Amount of Funds&#148;);
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Section&#160;11 (&#147;Interests of Directors and Executive
    Officers; Transactions and Arrangements Concerning Shares&#148;);
</TD>
</TR>

</TABLE>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Section&#160;14 (&#147;U.S.&#160;Federal Income Tax
    Consequences&#148;);&#160;and
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Section&#160;15 (&#147;Extension of the Tender Offer;
    Termination; Amendment&#148;).
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (b)&#160;<I>Purchases.</I>&#160;&#160;The information set forth
    in the Introduction to the Offer to Purchase and in
    Section&#160;11 of the Offer to Purchase (&#147;Interests of
    Directors and Executive Officers; Transactions and Arrangements
    Concerning Shares&#148;) is incorporated herein by reference.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">5.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Past
    Contacts, Transactions, Negotiations and Agreements.</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The information set forth in Section&#160;11 of the Offer to
    Purchase (&#147;Interests of Directors and Executive Officers;
    Transactions and Arrangements Concerning Shares&#148;) is
    incorporated herein by reference.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">6.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Purposes
    of the Transaction and Plans or Proposals.</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (a); (b); (c)&#160;<I>Purposes; Use of Securities
    Acquired;&#160;Plans.</I>&#160;&#160;The following sections of
    the Offer to Purchase, which contain information regarding the
    purposes of the transaction, use of securities acquired and
    plans, are incorporated herein by reference.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Summary Term Sheet;&#160;and
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Section&#160;2 (&#147;Purpose of the Tender Offer&#148;).
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">7.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Source
    and Amount of Funds and Other Consideration.</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (a); (b); (d)&#160;<I>Source of Funds; Conditions; Borrowed
    Funds.</I>&#160;&#160;The information set forth in
    Section&#160;9 of the Offer to Purchase (&#147;Source and Amount
    of Funds&#148;) is incorporated herein by reference.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">8.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Interest
    in Securities of the Subject Company.</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (a); (b)&#160;<I>Securities Ownership; Securities
    Transactions.</I>&#160;&#160;The information set forth in
    Section&#160;11 of the Offer to Purchase (&#147;Interests of
    Directors and Executive Officers; Transactions and Arrangements
    Concerning Shares&#148;) is incorporated herein by reference.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">9.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Persons/Assets
    Retained, Employed, Compensated or Used.</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The information set forth in Section&#160;16 of the Offer to
    Purchase (&#147;Fees and Expenses&#148;) is incorporated herein
    by reference.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">10.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Financial
    Statements.</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (a); (b)&#160;<I>Financial Information; Pro Forma
    Information.</I>&#160;&#160;Not applicable.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">11.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Additional
    Information</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (a)&#160;<I>Agreements, Regulatory Requirements and Legal
    Proceedings.</I>&#160;&#160;The information set forth in
    Section&#160;10 of the Offer to Purchase (&#147;Certain
    Information Regarding Expedia&#148;), Section&#160;11 of the
    Offer to Purchase (&#147;Interests of Directors and Executive
    Officers; Transactions and Arrangements Concerning Shares&#148;)
    and Section&#160;13 of the Offer to Purchase (&#147;Legal
    Matters; Regulatory Approvals&#148;) is incorporated herein by
    reference.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (b)&#160;<I>Other Material Information.</I>&#160;&#160;The
    information set forth in the Offer to Purchase and the
    accompanying Letter of Transmittal, copies of which are filed
    with this Schedule&#160;TO as Exhibits&#160;(a)(1)(A) and
    (a)(1)(B), respectively, as each may be amended or supplemented
    from time to time, is incorporated herein by reference.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">12.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Exhibits</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=01 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=body -->
    <TD width="4%" align="left">&nbsp;</TD>	<!-- colindex=01 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="89%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (a)(1)(A)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Offer to Purchase, dated
    December&#160;11, 2006
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (a)(1)(B)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Letter of Transmittal
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (a)(1)(C)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Notice of Guaranteed Delivery
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (a)(1)(D)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Letter to brokers, dealers,
    commercial banks, trust companies and other nominees, dated
    December&#160;11, 2006
    </FONT>
</TD>
</TR>
</TABLE>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=01 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=body -->
    <TD width="4%" align="left">&nbsp;</TD>	<!-- colindex=01 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="89%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (a)(1)(E)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Letter to clients for use by
    brokers, dealers, commercial banks, trust companies and other
    nominees, dated December&#160;11, 2006
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (a)(1)(F)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Letter from the Trustee of the
    Expedia Retirement Savings Plan to plan participants, dated
    December&#160;11, 2006
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (a)(1)(G)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Direction Form for participants in
    the Expedia Retirement Savings Plan
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (a)(2)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Not applicable
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (a)(3)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Not applicable
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (a)(4)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Not applicable
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (a)(5)(A)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Summary Advertisement, dated
    December&#160;11, 2006
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (a)(5)(B)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Letter from Dara Khosrowshahi,
    Chief Executive Officer of Expedia, Inc., to stockholders of
    Expedia, Inc., dated December&#160;11, 2006
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (a)(5)(C)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Press release, dated
    December&#160;8, 2006
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (b)(1)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Credit Agreement dated as of
    July&#160;8, 2005, among Expedia, Inc., a Delaware corporation,
    Expedia, Inc., a Washington corporation, Travelscape, Inc., a
    Nevada corporation, Hotels.com, a Delaware corporation, and
    Hotwire, Inc., a Delaware corporation, as Borrowers; the Lenders
    party thereto; Bank of America, N.A., as Syndication Agent;
    Wachovia Bank, N.A. and The Royal Bank of Scotland PLC, as
    Co-Documentation Agents; JPMorgan Chase Bank, N.A., as
    Administrative Agent; and J.P.&#160;Morgan Europe Limited, as
    London Agent(1)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (b)(2)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">First Amendment, dated as of
    December&#160;7, 2006, to the Credit Agreement dated as of
    July&#160;8, 2005, among Expedia, Inc., a Delaware corporation;
    Expedia, Inc., a Washington corporation; Travelscape LLC, a
    Nevada limited liability company; Hotels.com, a Delaware
    corporation; Hotwire, Inc., a Delaware corporation; the other
    Borrowing Subsidiaries from time to time party thereto; the
    Lenders from time to time party thereto; JPMorgan Chase Bank,
    N.A., as Administrative Agent; and J.P. Morgan Europe Limited,
    as London Agent
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(1)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Expedia, Inc. Non-Employee
    Director Deferred Compensation Plan(2)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(2)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Expedia, Inc. 2005 Stock and
    Annual Incentive Plan(3)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(3)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Summary of Expedia Non-Employee
    Director Compensation Arrangements(2)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(4)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Stockholders Agreement between
    Liberty Media Corporation and Barry Diller, dated as of
    August&#160;9, 2005(4)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(5)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Governance Agreement, by and among
    Expedia, Inc., Liberty Media Corporation and Barry Diller, dated
    as of August&#160;9, 2005(4)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(6)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Separation Agreement, dated as of
    August&#160;9, 2005, by and between IAC/InterActiveCorp and
    Expedia, Inc.(4)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(7)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Tax Sharing Agreement dated as of
    August&#160;9, 2005, by and between IAC/InterActiveCorp and
    Expedia, Inc.(4)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(8)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Form of Expedia, Inc. Restricted
    Stock Unit Agreement (directors)(4)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(9)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Expedia Executive Deferred
    Compensation Plan, effective as of August&#160;9, 2005(5)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(10)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Expedia, Inc. Restricted Stock
    Unit Agreement between Expedia, Inc. and Dara Khosrowshahi,
    dated as of March&#160;7, 2006(6)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(11)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Employment Agreement by and
    between Michael Adler and Expedia, Inc., effective as of
    May&#160;16, 2006(7)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(12)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Expedia, Inc. Restricted Stock
    Unit Agreement between Expedia, Inc. and Michael B. Adler,
    effective as of May&#160;16, 2006(7)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(13)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Employment Agreement by and
    between Burke Norton and Expedia, Inc., effective
    October&#160;25, 2006(7)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(14)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Expedia, Inc. Restricted Stock
    Unit Agreement (First Agreement) between Expedia, Inc. and Burke
    Norton, dated as of October&#160;25, 2006(7)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(15)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Expedia, Inc. Restricted Stock
    Unit Agreement (Second Agreement) between Expedia, Inc. and
    Burke Norton, dated as of October&#160;25, 2006(7)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(16)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Form of Expedia, Inc. Restricted
    Stock Unit Agreement (domestic employees)(7)
    </FONT>
</TD>
</TR>
</TABLE>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=01 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=body -->
    <TD width="4%" align="left">&nbsp;</TD>	<!-- colindex=01 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="89%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(17)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Equity Warrant Agreement for
    Warrants to Purchase up to 14,590,514&#160;Shares of Common
    Stock expiring February&#160;4, 2009, between Expedia, Inc. and
    The Bank of New York, as Equity Warrant Agent, dated as of
    August&#160;9, 2005(8)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(18)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Stockholder Equity Warrant
    Agreement for Warrants to Purchase up to 11,450,182&#160;Shares
    of Common Stock, between Expedia, Inc. and Mellon Investor
    Services LLC, as Equity Warrant Agent, dated as of
    August&#160;9, 2005(8)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(19)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Optionholder Equity Warrant
    Agreement for Warrants to Purchase up to 1,558,651&#160;Shares
    of Common Stock, between Expedia, Inc. and Mellon Investor
    Services LLC, as Equity Warrant Agent, dated as of
    August&#160;9, 2005(8)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(20)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Indenture, dated as of
    August&#160;21, 2006, among Expedia, Inc., as Issuer, the
    Subsidiary Guarantors from time to time parties thereto, and The
    Bank of New York Trust Company, N.A., as Trustee, relating to
    Expedia, Inc.&#146;s 7.456% Senior Notes due 2018(7)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(21)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Registration Rights Agreement
    dated August&#160;21, 2006 by and among Expedia, Inc., the
    Subsidiary Guarantors listed therein, and J.P.&#160;Morgan
    Securities Inc. and Lehman Brothers Inc., as representatives of
    the initial purchasers of Expedia, Inc.&#146;s
    7.456%&#160;Senior Notes due 2018(7)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(22)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Expedia Retirement Savings Plan
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (d)(23)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Trust&#160;Agreement between
    Expedia, Inc. and Fidelity Management Trust Company, dated as of
    August&#160;15, 2005, relating to the Expedia Retirement Savings
    Plan
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (g)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Not applicable
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    (h)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Not applicable
    </FONT>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=455 length=60 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="4%"></TD>
    <TD width="1%"></TD>
    <TD width="95%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Incorporated by reference to Expedia, Inc.&#146;s Current Report
    on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    filed on July&#160;14, 2005</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    Incorporated by reference to Expedia, Inc.&#146;s Registration
    Statement on
    <FONT style="white-space: nowrap">Form&#160;S-4/A</FONT>
    (File
    <FONT style="white-space: nowrap">No.&#160;333-124303-01)</FONT>
    filed on June&#160;13, 2005</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (3) </TD>
    <TD></TD>
    <TD valign="bottom">
    Incorporated by reference to Expedia, Inc.&#146;s Registration
    Statement on
    <FONT style="white-space: nowrap">Form&#160;S-8</FONT>
    (File
    <FONT style="white-space: nowrap">No.&#160;333-127324)</FONT>
    filed on August&#160;9, 2005</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (4) </TD>
    <TD></TD>
    <TD valign="bottom">
    Incorporated by reference to Expedia, Inc.&#146;s Quarterly
    Report on
    <FONT style="white-space: nowrap">Form&#160;10-Q</FONT>
    for the quarter ended September&#160;30, 2005</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (5) </TD>
    <TD></TD>
    <TD valign="bottom">
    Incorporated by reference to Expedia, Inc.&#146;s Current Report
    on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    filed on December&#160;20, 2005</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (6) </TD>
    <TD></TD>
    <TD valign="bottom">
    Incorporated by reference to Expedia, Inc.&#146;s Annual Report
    on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the fiscal year ended December&#160;31, 2005</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (7) </TD>
    <TD></TD>
    <TD valign="bottom">
    Incorporated by reference to Expedia, Inc.&#146;s Quarterly
    Report on
    <FONT style="white-space: nowrap">Form&#160;10-Q</FONT>
    for the quarter ended September&#160;30, 2006</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (8) </TD>
    <TD></TD>
    <TD valign="bottom">
    Incorporated by reference to Expedia, Inc.&#146;s Registration
    Statement on
    <FONT style="white-space: nowrap">Form&#160;8-A/A</FONT>
    filed on August&#160;22, 2005</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">13.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Information
    Required by
    <FONT style="white-space: nowrap">Schedule&#160;13E-3.</FONT></FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Not applicable.
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">SIGNATURE</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    After due inquiry and to the best of my knowledge and belief, I
    certify that the information set forth in this statement is
    true, complete and correct.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    EXPEDIA, INC.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="49%"></TD>
    <TD width="4%"></TD>
    <TD width="47%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;</DIV>Burke
    F. Norton
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 53%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=455 length=0 -->

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Name:&#160;Burke F. Norton
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="53%"></TD>
    <TD width="8%"></TD>
    <TD width="39%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    Title:&#160;
</TD>
    <TD align="left">
    Executive Vice President,<BR>
    General Counsel &#38; Secretary
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Dated: December&#160;11, 2006
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">EXHIBIT&#160;INDEX</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=body -->
    <TD width="7%" align="left">&nbsp;</TD>	<!-- colindex=01 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="89%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (a)(1)(A)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Offer to Purchase, dated
    December&#160;11, 2006.
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (a)(1)(B)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Letter of Transmittal.
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (a)(1)(C)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Notice of Guaranteed Delivery.
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (a)(1)(D)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Letter to brokers, dealers,
    commercial banks, trust companies and other nominees, dated
    December&#160;11, 2006.
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (a)(1)(E)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Letter to clients for use by
    brokers, dealers, commercial banks, trust companies and other
    nominees, dated December&#160;11, 2006.
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (a)(1)(F)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Letter from the Trustee of the
    Expedia Retirement Savings Plan to plan participants, dated
    December&#160;11, 2006.
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (a)(1)(G)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Direction Form for participants in
    the Expedia Retirement Savings Plan.
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (a)(2)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Not applicable.
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (a)(3)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Not applicable.
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (a)(4)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Not applicable.
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (a)(5)(A)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Summary Advertisement, dated
    December&#160;11, 2006.
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (a)(5)(B)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Letter from Dara Khosrowshahi,
    Chief Executive Officer of Expedia, Inc., to stockholders of
    Expedia, Inc., dated December&#160;11, 2006.
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (a)(5)(C)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Press release, dated
    December&#160;8, 2006.
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (b)(1)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Credit Agreement dated as of
    July&#160;8, 2005, among Expedia, Inc., a Delaware corporation,
    Expedia, Inc., a Washington corporation, Travelscape, Inc., a
    Nevada corporation, Hotels.com, a Delaware corporation, and
    Hotwire, Inc., a Delaware corporation, as Borrowers; the Lenders
    party thereto; Bank of America, N.A., as Syndication Agent;
    Wachovia Bank, N.A. and The Royal Bank of Scotland PLC, as
    Co-Documentation Agents; JPMorgan Chase Bank, N.A., as
    Administrative Agent; and J.P.&#160;Morgan Europe Limited, as
    London Agent(1)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (b)(2)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">First Amendment, dated as of
    December&#160;7, 2006, to the Credit Agreement dated as of
    July&#160;8, 2005, among Expedia, Inc., a Delaware corporation;
    Expedia, Inc., a Washington corporation; Travelscape LLC, a
    Nevada limited liability company; Hotels.com, a Delaware
    corporation; Hotwire, Inc., a Delaware corporation; the other
    Borrowing Subsidiaries from time to time party thereto; the
    Lenders from time to time party thereto; JPMorgan Chase Bank,
    N.A., as Administrative Agent; and J.P. Morgan Europe Limited,
    as London Agent
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(1)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Expedia, Inc. Non-Employee
    Director Deferred Compensation Plan(2)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(2)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Expedia, Inc. 2005 Stock and
    Annual Incentive Plan(3)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(3)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Summary of Expedia Non-Employee
    Director Compensation Arrangements(2)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(4)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Stockholders Agreement between
    Liberty Media Corporation and Barry Diller, dated as of
    August&#160;9, 2005(4)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(5)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Governance Agreement, by and among
    Expedia, Inc., Liberty Media Corporation and Barry Diller, dated
    as of August&#160;9, 2005(4)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(6)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Separation Agreement, dated as of
    August&#160;9, 2005, by and between IAC/InterActiveCorp and
    Expedia, Inc.(4)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(7)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Tax Sharing Agreement dated as of
    August&#160;9, 2005, by and between IAC/InterActiveCorp and
    Expedia, Inc.(4)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(8)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Form of Expedia, Inc. Restricted
    Stock Unit Agreement (directors)(4)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(9)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Expedia Executive Deferred
    Compensation Plan, effective as of August&#160;9, 2005(5)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(10)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Expedia, Inc. Restricted Stock
    Unit Agreement between Expedia, Inc. and Dara Khosrowshahi,
    dated as of March&#160;7, 2006(6)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(11)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Employment Agreement by and
    between Michael Adler and Expedia, Inc., effective as of
    May&#160;16, 2006(7)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(12)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Expedia, Inc. Restricted Stock
    Unit Agreement between Expedia, Inc. and Michael B. Adler,
    effective as of May&#160;16, 2006(7)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(13)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Employment Agreement by and
    between Burke Norton and Expedia, Inc., effective
    October&#160;25, 2006(7)
    </FONT>
</TD>
</TR>
</TABLE>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=body -->
    <TD width="7%" align="left">&nbsp;</TD>	<!-- colindex=01 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="89%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(14)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Expedia, Inc., Restricted Stock
    Unit Agreement (First Agreement) between Expedia, Inc. and Burke
    Norton, dated as of October&#160;25, 2006(7)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(15)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Expedia, Inc. Restricted Stock
    Unit Agreement (Second Agreement) between Expedia, Inc. and
    Burke Norton, dated as of October&#160;25, 2006(7)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(16)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Form of Expedia, Inc. Restricted
    Stock Unit Agreement (domestic employees)(7)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(17)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Equity Warrant Agreement for
    Warrants to Purchase up to 14,590,514&#160;Shares of Common
    Stock expiring February&#160;4, 2009, between Expedia, Inc. and
    The Bank of New York, as Equity Warrant Agent, dated as of
    August&#160;9, 2005(8)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(18)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Stockholder Equity Warrant
    Agreement for Warrants to Purchase up to 11,450,182&#160;Shares
    of Common Stock, between Expedia, Inc. and Mellon Investor
    Services LLC, as Equity Warrant Agent, dated as of
    August&#160;9, 2005(8)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(19)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Optionholder Equity Warrant
    Agreement for Warrants to Purchase up to 1,558,651&#160;Shares
    of Common Stock, between Expedia, Inc. and Mellon Investor
    Services LLC, as Equity Warrant Agent, dated as of
    August&#160;9, 2005(8)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(20)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Indenture, dated as of
    August&#160;21, 2006, among Expedia, Inc., as Issuer, the
    Subsidiary Guarantors from time to time parties thereto, and The
    Bank of New York Trust Company, N.A., as Trustee, relating to
    Expedia, Inc.&#146;s 7.456% Senior Notes due 2018(7)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(21)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Registration Rights Agreement
    dated August&#160;21, 2006 by and among Expedia, Inc., the
    Subsidiary Guarantors listed therein, and J.P.&#160;Morgan
    Securities Inc. and Lehman Brothers Inc., as representatives of
    the initial purchasers of Expedia, Inc.&#146;s
    7.456%&#160;Senior Notes due 2018(7)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(22)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Expedia Retirement Savings Plan
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (d)(23)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Trust&#160;Agreement between
    Expedia, Inc. and Fidelity Management Trust Company, dated as of
    August&#160;15, 2005, relating to the Expedia Retirement Savings
    Plan
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (g)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Not applicable
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    (h)
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Not applicable
    </FONT>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=455 length=60 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="4%"></TD>
    <TD width="1%"></TD>
    <TD width="95%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Incorporated by reference to Expedia, Inc.&#146;s Current Report
    on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    filed on July&#160;14, 2005</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    Incorporated by reference to Expedia, Inc.&#146;s Registration
    Statement on
    <FONT style="white-space: nowrap">Form&#160;S-4/A</FONT>
    (File
    <FONT style="white-space: nowrap">No.&#160;333-124303-01)</FONT>
    filed on June&#160;13, 2005</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (3) </TD>
    <TD></TD>
    <TD valign="bottom">
    Incorporated by reference to Expedia, Inc.&#146;s Registration
    Statement on
    <FONT style="white-space: nowrap">Form&#160;S-8</FONT>
    (File
    <FONT style="white-space: nowrap">No.&#160;333-127324)</FONT>
    filed on August&#160;9, 2005</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (4) </TD>
    <TD></TD>
    <TD valign="bottom">
    Incorporated by reference to Expedia, Inc.&#146;s Quarterly
    Report on
    <FONT style="white-space: nowrap">Form&#160;10-Q</FONT>
    for the quarter ended September&#160;30, 2005</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (5) </TD>
    <TD></TD>
    <TD valign="bottom">
    Incorporated by reference to Expedia, Inc.&#146;s Current Report
    on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    filed on December&#160;20, 2005</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (6) </TD>
    <TD></TD>
    <TD valign="bottom">
    Incorporated by reference to Expedia, Inc.&#146;s Annual Report
    on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the fiscal year ended December&#160;31, 2005</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (7) </TD>
    <TD></TD>
    <TD valign="bottom">
    Incorporated by reference to Expedia, Inc.&#146;s Quarterly
    Report on
    <FONT style="white-space: nowrap">Form&#160;10-Q</FONT>
    for the quarter ended September&#160;30, 2006</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (8) </TD>
    <TD></TD>
    <TD valign="bottom">
    Incorporated by reference to Expedia, Inc.&#146;s Registration
    Statement on For
    <FONT style="white-space: nowrap">8-A/A</FONT> filed
    on August&#160;22, 2005</TD>
</TR>

</TABLE>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.A.1.A
<SEQUENCE>2
<FILENAME>y27824exv99waw1wa.htm
<DESCRIPTION>EX-99.A.1.A: OFFER TO PURCHASE
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.A.1.A</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit
    (a)(1)(A)</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <IMG src="y27824y2782400.gif" alt="EXPEDIA LOGO" ><B> </B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 16pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">OFFER TO
    PURCHASE FOR CASH</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 16pt">Up to 30,000,000&#160;Shares of
    its Common Stock</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 16pt">At a Purchase Price Not Greater
    Than $22.00</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 16pt">Nor Less Than $18.50 Per
    Share</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 14pt">by</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 16pt">Expedia, Inc.</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>



<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 12pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 12pt">THE TENDER OFFER, PRORATION
    PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00&#160;P.M., NEW
    YORK CITY TIME, ON WEDNESDAY, JANUARY&#160;10, 2007, UNLESS
    EXPEDIA EXTENDS THE TENDER OFFER.</FONT></B>
</DIV>
</DIV><!-- End box 1 -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Expedia, Inc., a Delaware corporation (&#147;Expedia&#148;), is
    offering to purchase for cash up to 30,000,000&#160;shares of
    its common stock, par value $.001&#160;per share, upon the terms
    and subject to the conditions set forth in this document and the
    letter of transmittal (which together, as they may be amended
    and supplemented from time to time, constitute the tender
    offer). On the terms and subject to the conditions of the tender
    offer, we will determine the single per share price, not greater
    than $22.00 nor less than $18.50 per share, net to you in cash,
    without interest, that we will pay for shares properly tendered
    and not properly withdrawn in the tender offer, taking into
    account the total number of shares so tendered and the prices
    specified by the tendering stockholders. We will select the
    lowest purchase price that will allow us to purchase
    30,000,000&#160;shares, or such fewer number of shares as are
    properly tendered and not properly withdrawn, at prices not
    greater than $22.00 nor less than $18.50 per share. Expedia will
    purchase at the purchase price all shares properly tendered at
    prices at or below the purchase price and not properly
    withdrawn, on the terms and subject to the conditions of the
    tender offer, including the odd lot, conditional tender and
    proration provisions. We reserve the right, in our sole
    discretion, to purchase more than 30,000,000&#160;shares in the
    tender offer, subject to applicable law. Expedia will not
    purchase shares tendered at prices greater than the purchase
    price and shares that we do not accept for purchase because of
    proration provisions or conditional tenders. Shares not
    purchased in the tender offer will be returned to the tendering
    stockholders at our expense as promptly as practicable after the
    expiration of the tender offer. See Section&#160;1.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>THE TENDER OFFER IS NOT CONDITIONED ON ANY MINIMUM NUMBER OF
    SHARES BEING TENDERED. THE TENDER OFFER IS, HOWEVER, SUBJECT TO
    OTHER CONDITIONS. SEE SECTION&#160;7.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 17%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=999 iwidth=480 length=84 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">IMPORTANT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If you wish to tender all or any part of your shares, you must
    either (1) (a)&#160;complete and sign a letter of transmittal
    according to the instructions in the letter of transmittal and
    mail or deliver it, together with any required signature
    guarantee and any other required documents, including the share
    certificates, to The Bank of New York, the depositary for the
    tender offer, or (b)&#160;tender the shares according to the
    procedure for book-entry transfer described in Section&#160;3,
    or (2)&#160;request a broker, dealer, commercial bank, trust
    company or other nominee to effect the transaction for you. If
    your shares are registered in the name of a broker, dealer,
    commercial bank, trust company or other nominee, you should
    contact that person if you desire to tender your shares. If you
    desire to tender your shares and (1)&#160;your share
    certificates are not immediately available or cannot be
    delivered to the depositary, (2)&#160;you cannot comply with the
    procedure for book-entry transfer, or (3)&#160;you cannot
    deliver the other required documents to the depositary by the
    expiration of the tender offer, you must tender your shares
    according to the guaranteed delivery procedure described in
    Section&#160;3.
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Holders or beneficial owners of shares under the Expedia
    Retirement Savings Plan (if such shares are not, at the time of
    tender, subject to any restrictions on transferability) who wish
    to tender any of such shares in the tender offer must follow the
    separate instructions and procedures described in Section&#160;3.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>OUR BOARD OF DIRECTORS HAS APPROVED THE TENDER
    OFFER.&#160;&#160;HOWEVER, NEITHER WE NOR OUR BOARD OF DIRECTORS
    MAKES ANY RECOMMENDATION TO YOU AS TO WHETHER YOU SHOULD TENDER
    OR REFRAIN FROM TENDERING YOUR SHARES&#160;OR AS TO THE PRICE OR
    PRICES AT WHICH YOU MAY CHOOSE TO TENDER YOUR SHARES. YOU MUST
    MAKE YOUR OWN DECISION AS TO WHETHER TO TENDER YOUR
    SHARES&#160;AND, IF SO, HOW MANY SHARES&#160;TO TENDER AND THE
    PRICE OR PRICES AT WHICH TO TENDER YOUR SHARES. IN SO DOING, YOU
    SHOULD READ CAREFULLY THE INFORMATION IN THIS OFFER TO PURCHASE
    AND IN THE LETTER OF TRANSMITTAL, INCLUDING OUR REASONS FOR
    MAKING THE TENDER OFFER. OUR DIRECTORS AND EXECUTIVE OFFICERS
    AND LIBERTY MEDIA CORPORATION HAVE ADVISED US THAT THEY DO NOT
    INTEND TO TENDER ANY SHARES&#160;IN THE TENDER OFFER.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The shares are quoted on The Nasdaq Stock Market under the
    ticker symbol &#147;EXPE.&#148; We publicly announced the tender
    offer prior to the close of trading on The Nasdaq Stock Market
    on December&#160;8, 2006. On December 7, 2006, the reported
    closing price of the shares on The Nasdaq Stock Market was
    $18.62 per share. We urge stockholders to obtain current market
    quotations for the shares. See Section&#160;8.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 17%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=999 iwidth=480 length=84 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    You may direct questions and requests for assistance to
    MacKenzie Partners, Inc., the information agent for the tender
    offer at their address and telephone number set forth on the
    back cover page of this document. You may also direct requests
    for additional copies of this document, the letter of
    transmittal or the notice of guaranteed delivery to the
    information agent.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 17%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=999 iwidth=480 length=84 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    December&#160;11, 2006
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->
<DIV align="left">
<!-- TOC -->
</DIV>

<DIV align="left">
<A name="tocpage"></A>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>We have not authorized any person to make any recommendation
    on our behalf as to whether you should tender or refrain from
    tendering your shares in the tender offer. We have not
    authorized any person to give any information or to make any
    representation in connection with the tender offer other than
    those contained in this document or in the letter of
    transmittal. If given or made, you must not rely upon any such
    information or representation as having been authorized by
    us.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>We are not making the tender offer to (nor will we accept any
    tender of shares from or on behalf of) holders in any
    jurisdiction in which the making of the tender offer or the
    acceptance of any tender of shares would not be in compliance
    with the laws of such jurisdiction. However, we may, at our
    discretion, take such action as we may deem necessary for us to
    make the tender offer in any such jurisdiction and extend the
    tender offer to holders in such jurisdiction.</B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">TABLE OF
    CONTENTS</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
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</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Page</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#101'><FONT style="font-size: 10pt">FORWARD-LOOKING
    STATEMENTS</FONT></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">i
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#102'><FONT style="font-size: 10pt">SUMMARY TERM
    SHEET</FONT></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">1
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#103'><FONT style="font-size: 10pt">INTRODUCTION</FONT></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">5
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#104'><FONT style="font-size: 10pt">THE TENDER
    OFFER</FONT></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">6
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#105'><FONT style="font-size: 10pt">1.&#160;&#160;&#160;&#160;Number
    of Shares; Proration</FONT></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">6
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#106'><FONT style="font-size: 10pt">2.&#160;&#160;&#160;&#160;Purpose
    of the Tender Offer</FONT></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">9
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#107'><FONT style="font-size: 10pt">3.&#160;&#160;&#160;&#160;Procedures
    for Tendering Shares</FONT></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">10
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#108'><FONT style="font-size: 10pt">4.&#160;&#160;&#160;&#160;Withdrawal
    Rights</FONT></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">14
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#109'><FONT style="font-size: 10pt">5.&#160;&#160;&#160;&#160;Purchase
    of Shares and Payment of Purchase Price</FONT></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">14
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#110'><FONT style="font-size: 10pt">6.&#160;&#160;&#160;&#160;Conditional
    Tender of Shares</FONT></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">15
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#111'><FONT style="font-size: 10pt">7.&#160;&#160;&#160;&#160;Conditions
    of the Tender Offer</FONT></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">16
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#112'><FONT style="font-size: 10pt">8.&#160;&#160;&#160;&#160;Price
    Range of Shares; Dividends</FONT></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">18
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#113'><FONT style="font-size: 10pt">9.&#160;&#160;&#160;&#160;Source
    and Amount of Funds</FONT></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">18
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#114'><FONT style="font-size: 10pt">10.&#160;&#160;Certain
    Information Concerning Expedia</FONT></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">19
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#115'><FONT style="font-size: 10pt">11.&#160;&#160;Interests
    of Directors and Executive Officers; Transactions and
    Arrangements Concerning Shares</FONT></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">20
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#116'><FONT style="font-size: 10pt">12.&#160;&#160;Effects
    of the Tender Offer on the Market for Shares; Registration under
    the Exchange Act</FONT></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">29
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#118'><FONT style="font-size: 10pt">13.&#160;&#160;Legal
    Matters; Regulatory Approvals</FONT></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">29
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#118'><FONT style="font-size: 10pt">14.&#160;&#160;U.S.&#160;Federal
    Income Tax Consequences</FONT></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">30
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#119'><FONT style="font-size: 10pt">15.&#160;&#160;Extension
    of the Tender Offer; Termination; Amendment</FONT></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">31
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#120'><FONT style="font-size: 10pt">16.&#160;&#160;Fees
    and Expenses</FONT></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">32
    </FONT>
</TD>
<TD>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#121'><FONT style="font-size: 10pt">17.&#160;&#160;Miscellaneous</FONT></A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
</TD>
<TD nowrap align="right" valign="bottom">
    <FONT style="font-size: 10pt">33
    </FONT>
</TD>
<TD>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV align="left">
<!-- /TOC -->
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    i
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->
<A name='101'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">FORWARD-LOOKING
    STATEMENTS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>This offer to purchase, the documents incorporated by
    reference and other written reports and oral statements made
    from time to time by Expedia, Inc. may contain
    &#147;forward-looking statements&#148; regarding future events
    and our future results. These forward-looking statements reflect
    the views of our management regarding current expectations and
    projections about future events and are based on currently
    available information. Actual results, performance or
    achievement could differ materially from those contained in
    these forward-looking statements for a variety of reasons,
    including, without limitation, those discussed elsewhere in this
    offer to purchase, the documents incorporated by reference and
    in our other reports filed with the Securities and Exchange
    Commission. Other unknown or unpredictable factors also could
    have a material adverse effect on our business, financial
    condition and results of operations. Accordingly, readers should
    not place undue reliance on these forward-looking statements.
    The use of words such as &#147;anticipates,&#148;
    &#147;estimates,&#148; &#147;expects,&#148; &#147;intends,&#148;
    &#147;plans&#148; and &#147;believes,&#148; among others,
    generally identify forward-looking statements; however, these
    words are not the exclusive means of identifying such
    statements. In addition, any statements that refer to
    expectations, projections or other characterizations of future
    events or circumstances are forward-looking statements. In
    addition, please refer to our Quarterly Report on
    <FONT style="white-space: nowrap">Form&#160;10-Q</FONT>
    for the quarter ended September&#160;30, 2006 and our Annual
    Report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended December&#160;31, 2005, in each case as filed
    with the Securities and Exchange Commission, for additional
    information on risks and uncertainties that could cause actual
    results to differ materially from those described in the
    forward-looking statements or that may otherwise impact us and
    our business.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>These forward-looking statements are inherently subject to
    uncertainties, risks and changes in circumstances that are
    difficult to predict. We are not under any obligation and do not
    intend to publicly update or review any of these forward-looking
    statements, whether as a result of new information, future
    events or otherwise, 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.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Please carefully review and consider the various disclosures
    made in this offer to purchase and in our other reports filed
    with the Securities and Exchange Commission that attempt to
    advise interested parties of the risks and factors that may
    affect our business, results of operations, financial condition
    or prospects.</I>
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    ii
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->
<A name='102'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">SUMMARY
    TERM SHEET</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>We are providing this summary term sheet for your
    convenience. It highlights the most material information in this
    document, but you should realize that it does not describe all
    of the details of the tender offer to the same extent described
    in this document. We urge you to read the entire document and
    the letter of transmittal because they contain the full details
    of the tender offer. We have included references to the sections
    of this document where you will find a more complete discussion.
    Unless otherwise indicated, references to shares are to shares
    of our common stock, and not to shares of our Class&#160;B
    common stock or any other securities.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="35%"></TD>
    <TD width="1%"></TD>
    <TD width="64%"></TD>
</TR>

<TR>
    <TD valign="top">
    <B>Who is offering to purchase my shares? </B></TD>
    <TD></TD>
    <TD valign="top">
<DIV style="text-indent: -6pt; margin-left: 6pt">
    Expedia, Inc. is offering to purchase your shares.</DIV>
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>What will the purchase price for the shares be? </B></TD>
    <TD></TD>
    <TD valign="top">
    We will determine the purchase price that we will pay per share
    as promptly as practicable after the tender offer expires. The
    purchase price will be the lowest price at which, based on the
    number of shares tendered and the prices specified by the
    tendering stockholders, we can purchase 30,000,000&#160;shares,
    or such fewer number of shares as are properly tendered and not
    properly withdrawn prior to the expiration date. The purchase
    price will not be greater than $22.00 nor less than $18.50 per
    share. We will pay this purchase price in cash, without
    interest, for all the shares we purchase under the tender offer,
    even if some of the shares are tendered at a price below the
    purchase price. <I>See Section&#160;1.</I></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>How many shares will Expedia purchase? </B></TD>
    <TD></TD>
    <TD valign="top">
    We will purchase 30,000,000&#160;shares properly tendered in the
    tender offer, or such fewer number of shares as are properly
    tendered and not properly withdrawn prior to the expiration
    date. The 30,000,000&#160;shares represent approximately 9.8% of
    our outstanding common stock as of December&#160;1, 2006. The
    30,000,000&#160;shares represent approximately 9.1% of the total
    number of shares of our outstanding common stock and
    Class&#160;B common stock and 5.3% of the combined voting power
    of our outstanding common stock and Class&#160;B common stock as
    of December&#160;1, 2006. Expedia expressly reserves the right
    to purchase an additional number of shares of common stock not
    to exceed 2% of the outstanding shares of common stock, and
    could decide to purchase more shares, subject to applicable
    legal requirements. <I>See Section&#160;1. </I>The tender offer
    is not conditioned on any minimum number of shares being
    tendered. <I>See Section&#160;7.</I></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>What will happen if more than 30,000,000&#160;shares are
    tendered at or below the purchase price? </B></TD>
    <TD></TD>
    <TD valign="top">
    If more than 30,000,000&#160;shares are tendered at or below the
    purchase price, we will purchase all shares tendered at or below
    the purchase price on a pro rata basis, except for &#147;odd
    lots&#148; (lots held by owners of less than 100&#160;shares),
    which we will purchase on a priority basis as described in the
    immediately following paragraph and except for shares that were
    conditionally tendered and for which the condition was not
    satisfied.</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>If I own fewer than 100&#160;shares and I tender all of my
    shares, will I be subject to proration? </B></TD>
    <TD></TD>
    <TD valign="top">
    If you own beneficially or of record fewer than 100&#160;shares
    in the aggregate, you properly tender all of these shares at or
    below the purchase price before the tender offer expires and you
    complete the section entitled &#147;Odd Lots&#148; in the letter
    of transmittal, we will purchase all of your shares without
    subjecting them to the proration procedure. <I>See
    Section&#160;1.</I></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>How will Expedia pay for the shares? </B></TD>
    <TD></TD>
    <TD valign="top">
    We anticipate that we will obtain all of the funds necessary to
    purchase shares tendered in the tender offer, and to pay related
    fees and expenses, through cash on hand and/or through the
    proceeds of </TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    1
</DIV><!-- END LOGICAL PAGE -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="35%"></TD>
    <TD width="1%"></TD>
    <TD width="64%"></TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    additional indebtedness that we may incur either in the form of
    borrowings under our current bank credit facility or through the
    public
    <FONT style="white-space: nowrap">and/or</FONT>
    private placement of new debt securities. The tender offer is
    not subject to the receipt of financing by us. <I>See
    Section&#160;9.</I></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>How long do I have to tender my shares? </B></TD>
    <TD></TD>
    <TD valign="top">
    You may tender your shares until the tender offer expires. The
    tender offer will expire on Wednesday, January&#160;10, 2007, at
    5:00&#160;p.m., New York City time, unless we extend it. See
    Section&#160;1. We may choose to extend the tender offer for any
    reason, subject to applicable laws. We cannot assure you that we
    will extend the tender offer or indicate the length of any
    extension that we may provide. See Section&#160;15. If a broker,
    dealer, commercial bank, trust company or other nominee holds
    your shares, it is likely they have an earlier deadline for you
    to act to instruct them to accept the tender offer on your
    behalf. We urge you to contact the broker, dealer, commercial
    bank, trust company or other nominee to find out their deadline.</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Can the tender offer be extended, amended or terminated, and
    under what circumstances? </B></TD>
    <TD></TD>
    <TD valign="top">
    We can extend or amend the tender offer in our sole discretion.
    If we extend the tender offer, we will delay the acceptance of
    any shares that have been tendered. We can terminate the tender
    offer under certain circumstances. <I>See Section&#160;7 and
    Section&#160;15.</I></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>How will I be notified if Expedia extends the tender offer or
    amends the terms of the tender offer? </B></TD>
    <TD></TD>
    <TD valign="top">
    We will issue a press release no later than 9:00&#160;a.m., New
    York City time, on the business day after the scheduled
    expiration date if we decide to extend the tender offer. We will
    announce any amendment to the tender offer by making a public
    announcement of the amendment. <I>See Section&#160;15.</I></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>What is the purpose of the tender offer? </B></TD>
    <TD></TD>
    <TD valign="top">
    Expedia believes that the tender offer is a prudent use of its
    financial resources given its business profile, capital
    structure, assets and the current market price of the shares,
    and that investing in its own shares is an attractive use of
    capital and an efficient means to provide value to its
    stockholders. The tender offer represents the opportunity for
    Expedia to return cash to stockholders who elect to tender their
    shares, while at the same time increasing non-tendering
    stockholders&#146; proportionate interest in Expedia. Expedia
    believes the tender offer, if completed, will be accretive to
    earnings per share. <I>See Section&#160;2 and
    Section&#160;10.</I></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Are there any conditions to the tender offer? </B></TD>
    <TD></TD>
    <TD valign="top">
    Yes. The tender offer is subject to conditions, such as the
    absence of court and governmental action prohibiting the tender
    offer and of changes in general market conditions or our
    business that, in our reasonable judgment, are or may be
    materially adverse to us, as well as other conditions. <I>See
    Section&#160;7.</I></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Following the tender offer, will Expedia continue as a public
    company? </B></TD>
    <TD></TD>
    <TD valign="top">
    Yes. The completion of the tender offer in accordance with its
    terms and conditions will not cause Expedia&#146;s shares to
    cease to be quoted on The Nasdaq Stock Market
    (&#147;Nasdaq&#148;) or to stop being subject to the periodic
    reporting requirements of the Securities Exchange Act of 1934,
    as amended (the &#147;Exchange Act&#148;). <I>See
    Section&#160;12.</I></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>How do I tender my shares? </B></TD>
    <TD></TD>
    <TD valign="top">
    The tender offer will expire at 5:00&#160;p.m., New York City
    time, on Wednesday, January&#160;10, 2007, unless Expedia
    extends the tender offer. To tender your shares prior to the
    expiration of the tender offer: you must deliver your share
    certificate(s) and a properly completed and duly executed letter
    of transmittal to the depositary at the address </TD>
</TR>

</TABLE>

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    <BR>
    2
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<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="35%"></TD>
    <TD width="1%"></TD>
    <TD width="64%"></TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    appearing on the back cover page of this document; or the
    depositary must receive a confirmation of receipt of your shares
    by book-entry transfer and a properly completed and duly
    executed letter of transmittal; or you must request a broker,
    dealer, commercial bank, trust company or other nominee to
    effect the transaction for you; or you must comply with the
    guaranteed delivery procedure. You should contact the
    information agent if you need assistance. <I>See Section&#160;3
    and the instructions to the letter of transmittal.</I></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    Please note that Expedia will not purchase your shares in the
    tender offer unless the depositary receives the required
    documents prior to the expiration of the tender offer. If a
    broker, dealer, commercial bank, trust company or other nominee
    holds your shares, it is likely that they have an earlier
    deadline for you to act to instruct them to accept the tender
    offer on your behalf. We urge you to contact your broker,
    dealer, commercial bank, trust company or other nominee to find
    out their applicable deadline.</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Once I have tendered shares in the tender offer, can I
    withdraw my tender? </B></TD>
    <TD></TD>
    <TD valign="top">
    You may withdraw any shares you have tendered at any time before
    the expiration of the tender offer which will occur at
    5:00&#160;p.m., New York City time, on Wednesday,
    January&#160;10, 2007, unless we extend the tender offer. If we
    have not accepted for payment the shares you have tendered to
    us, you may also withdraw your shares after 12:00 Midnight, New
    York City time, on Wednesday, February&#160;7, 2007. <I>See
    Section&#160;4.</I></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>How do I withdraw shares I previously tendered? </B></TD>
    <TD></TD>
    <TD valign="top">
    You must deliver, on a timely basis, a written or facsimile
    notice of your withdrawal to the depositary at the address
    appearing on the back cover page of this document. Your notice
    of withdrawal must specify your name, the number of shares to be
    withdrawn and the name of the registered holder of these shares.
    Some additional requirements apply if the share certificates to
    be withdrawn have been delivered to the depositary or if your
    shares have been tendered under the procedure for book-entry
    transfer set forth in Section&#160;3. <I>See Section&#160;4.</I></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    Individuals who own shares through the Expedia Retirement
    Savings Plan who wish to withdraw their shares must follow the
    instructions found in the materials sent to them separately.
    <I>See Section&#160;4.</I></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Can I participate in the tender offer if I hold shares
    through the Expedia Retirement Savings Plan? </B></TD>
    <TD></TD>
    <TD valign="top">
    Yes. Participants who hold shares of Expedia common stock
    through the Expedia Retirement Savings Plan will receive
    instruction forms which they may use to direct the trustee for
    the plan to tender eligible shares held through their accounts.
    <I>See Section&#160;3.</I></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>How do holders of vested stock options for shares participate
    in the tender offer? </B></TD>
    <TD></TD>
    <TD valign="top">
    If you hold vested but unexercised options, you may exercise
    such options in accordance with the terms of the applicable
    stock option plans and tender the shares received upon such
    exercise in accordance with this tender offer. <I>See
    Section&#160;3.</I></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>How do holders of warrants or preferred stock participate in
    the tender offer? </B></TD>
    <TD></TD>
    <TD valign="top">
    If you hold exercisable warrants for common stock, you may
    exercise such warrants in accordance with the terms of the
    applicable warrant agreement and tender the shares received upon
    such exercise in accordance with this tender offer. If you hold
    shares of our Series&#160;A preferred stock, you may convert
    those preferred shares into shares of common stock in accordance
    with the terms of the preferred stock and </TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    3
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<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="35%"></TD>
    <TD width="1%"></TD>
    <TD width="64%"></TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    tender the shares received upon such conversion in accordance
    with this tender offer. <I>See Section&#160;3.</I></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Has Expedia or its Board of Directors adopted a position on
    the tender offer? </B></TD>
    <TD></TD>
    <TD valign="top">
    Our Board of Directors has approved the tender offer. However,
    neither we nor our Board of Directors makes any recommendation
    to you as to whether you should tender or refrain from tendering
    your shares or as to the price or prices at which you may choose
    to tender your shares. You must make your own decision as to
    whether to tender your shares and, if so, how many shares to
    tender and the price or prices at which you choose to tender
    your shares. In so doing, you should read carefully the
    information in this offer to purchase and in the letter of
    transmittal, including our reasons for making the tender offer.
    Our directors and executive officers and Liberty Media
    Corporation have advised us that they do not intend to tender
    any shares in the tender offer. <I>See Section&#160;11.</I></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>If I decide not to tender, how will the tender offer affect
    my shares? </B></TD>
    <TD></TD>
    <TD valign="top">
    Stockholders who choose not to tender will own a greater
    percentage interest in our outstanding common stock immediately
    following the consummation of the tender offer.</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>What is the recent market price for the shares? </B></TD>
    <TD></TD>
    <TD valign="top">
    We publicly announced the tender offer on December&#160;8, 2006,
    prior to the close of trading on Nasdaq on that date. On
    December&#160;7, 2006, the reported closing price of the shares
    on Nasdaq was $18.62 per share. On December&#160;8, 2006, the
    last trading day prior to the commencement of the tender offer,
    the reported closing price of the shares on Nasdaq was $20.46.
    We urge you to obtain current market quotations for the shares.
    <I>See Section&#160;8.</I></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>When will Expedia pay for the shares I tender? </B></TD>
    <TD></TD>
    <TD valign="top">
    We will pay the purchase price, net to you in cash, without
    interest, for the shares we purchase as promptly as practicable
    after the expiration of the tender offer and the acceptance of
    the shares for payment; provided, however, that, if proration is
    required, we do not expect to announce the results of the pro
    ration and begin paying for tendered shares until at least five
    business days after the expiration of the tender offer. <I>See
    Section&#160;5.</I></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Will I have to pay brokerage commissions if I tender my
    shares? </B></TD>
    <TD></TD>
    <TD valign="top">
    If you are a registered stockholder and you tender your shares
    directly to the depositary, you will not incur any brokerage
    commissions. If you hold shares through a broker or bank, we
    urge you to consult your broker or bank to determine whether
    transaction costs are applicable. <I>See Section&#160;3.</I></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>What are the U.S.&#160;federal income tax consequences if I
    tender my shares? </B></TD>
    <TD></TD>
    <TD valign="top">
    Generally, you will be subject to U.S.&#160;federal income
    taxation when you receive cash from us in exchange for the
    shares you tender. In addition, the receipt of cash for your
    tendered shares will be treated either as (1)&#160;consideration
    received in respect of a sale or exchange or (2)&#160;a
    distribution from us in respect of our stock. <I>See
    Section&#160;14.</I></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Will I have to pay any stock transfer tax if I tender my
    shares? </B></TD>
    <TD></TD>
    <TD valign="top">
    If you instruct the depositary in the letter of transmittal to
    make the payment for the shares to the registered holder, you
    will not incur any stock transfer tax. <I>See Section&#160;5.</I></TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <B>Whom can I talk to if I have questions? </B></TD>
    <TD></TD>
    <TD valign="top">
    The information agent can help answer your questions. The
    information agent is MacKenzie Partners, Inc. Their contact
    information is set forth on the back cover page of this document.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    4
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<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->
<A name='103'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">INTRODUCTION</FONT></B>
</DIV>
</A>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    To the Holders of our Common Stock:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We invite our stockholders to tender shares of our common stock,
    par value $.001&#160;per share, for purchase by us. Upon the
    terms and subject to the conditions set forth in this offer to
    purchase and in the letter of transmittal, we are offering to
    purchase up to 30,000,000&#160;shares at a price not greater
    than $22.00 nor less than $18.50 per share, net to the seller in
    cash, without interest.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We will select the lowest purchase price within the range that
    will allow us to buy 30,000,000&#160;shares or, if a lesser
    number of shares is properly tendered, all shares that are
    properly tendered and not properly withdrawn. We will acquire
    all shares that we purchase in the tender offer at the same
    purchase price regardless of whether the stockholder tendered at
    a lower price. However, because of the &#147;odd lot&#148;
    priority, proration and conditional tender provisions described
    in this offer to purchase, we may not purchase all of the shares
    tendered at or below the purchase price if more than the number
    of shares we seek are properly tendered. We will return tendered
    shares that we do not purchase to the tendering stockholders at
    our expense as promptly as practicable after the expiration of
    the tender offer. <I>See Section&#160;1.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We reserve the right to purchase more than
    30,000,000&#160;shares pursuant to the tender offer, subject to
    certain limitations and legal requirements. <I>See
    Section&#160;1.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The tender offer will expire at 5:00&#160;p.m., New York City
    time, on Wednesday, January&#160;10, 2007, unless extended (such
    date and time, as the same may be extended, the &#147;expiration
    date&#148;). We may, in our sole discretion, extend the period
    of time in which the tender offer will remain open.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Stockholders must complete the section of the letter of
    transmittal relating to the price at which they are tendering
    shares in order to properly tender shares.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We will pay the purchase price, net to the tendering
    stockholders in cash, without interest, for all shares that we
    purchase. Tendering stockholders whose shares are registered in
    their own names and who tender directly to The Bank of New York,
    the depositary in the tender offer, will not be obligated to pay
    brokerage fees or commissions or, except as set forth in
    Instruction&#160;9 to the letter of transmittal, stock transfer
    taxes on the purchase of shares by us under the tender offer. If
    you own your shares through a bank, broker, dealer, trust
    company or other nominee and that person tenders your shares on
    your behalf, that person may charge you a fee for doing so. You
    should consult your bank, broker, dealer, trust company or other
    nominee to determine whether any charges will apply.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The tender offer is not conditioned upon any minimum number of
    shares being tendered. The tender offer is, however, subject to
    certain other conditions. <I>See Section&#160;7.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>OUR BOARD OF DIRECTORS HAS APPROVED THE TENDER OFFER.
    HOWEVER, NEITHER WE NOR OUR BOARD OF DIRECTORS MAKES ANY
    RECOMMENDATION TO YOU AS TO WHETHER YOU SHOULD TENDER OR REFRAIN
    FROM TENDERING YOUR SHARES&#160;OR AS TO THE PURCHASE PRICE OR
    PURCHASE PRICES AT WHICH YOU MAY CHOOSE TO TENDER YOUR SHARES.
    YOU MUST MAKE YOUR OWN DECISION AS TO WHETHER TO TENDER YOUR
    SHARES&#160;AND, IF SO, HOW MANY SHARES&#160;TO TENDER AND THE
    PRICE OR PRICES AT WHICH TO TENDER YOUR SHARES. IN SO DOING, YOU
    SHOULD READ CAREFULLY THE INFORMATION IN THIS OFFER TO PURCHASE
    AND IN THE LETTER OF TRANSMITTAL, INCLUDING OUR REASONS FOR
    MAKING THE TENDER OFFER. <I>SEE SECTION&#160;2</I>. OUR
    DIRECTORS AND EXECUTIVE OFFICERS AND LIBERTY MEDIA CORPORATION
    HAVE ADVISED US THAT THEY DO NOT INTEND TO TENDER ANY
    SHARES&#160;IN THE TENDER OFFER.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If, at the expiration date, more than 30,000,000&#160;shares (or
    such greater number of shares as we may elect to purchase,
    subject to applicable law) are properly tendered at or below the
    purchase price and not properly withdrawn, we will buy shares:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    first, from all holders of &#147;odd lots&#148; (holders of less
    than 100&#160;shares) who properly tender all their shares at or
    below the purchase price selected by us and do not properly
    withdraw them before the expiration date;
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    5
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<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    second, on a pro rata basis from all other stockholders who
    properly tender shares at or below the purchase price selected
    by us, other than stockholders who tender conditionally and
    whose conditions are not satisfied;&#160;and
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    third, only if necessary to permit us to purchase
    30,000,000&#160;shares (or such greater number of shares as we
    may elect to purchase, subject to applicable law) from holders
    who have tendered shares at or below the purchase price subject
    to the condition that a specified minimum number of the
    holder&#146;s shares be purchased if any of the holder&#146;s
    shares are purchased in the tender offer (for which the
    condition was not initially satisfied) by random lot, to the
    extent feasible. To be eligible for purchase by random lot,
    stockholders whose shares are conditionally tendered must have
    tendered all of their shares.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We may not purchase all of the shares tendered pursuant to the
    tender offer even if the shares are tendered at or below the
    purchase price. <I>See Section&#160;1</I>, <I>Section&#160;5
    </I>and <I>Section&#160;6</I>, respectively, for additional
    information concerning priority, proration and conditional
    tender procedures.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Section&#160;14 of this offer to purchase describes various
    United States federal income tax consequences of a sale of
    shares under the tender offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Participants in the Expedia Retirement Savings Plan may not use
    the letter of transmittal to direct the tender of their shares
    held in the plan but instead must follow the separate
    instructions related to those shares. If the trustee for the
    plan has not received a participant&#146;s instructions at least
    three&#160;business days prior to the expiration date of the
    tender offer, the trustee may not tender any shares held on
    behalf of that participant.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Holders of vested but unexercised options to purchase shares may
    exercise such options in accordance with the applicable option
    plan and tender some or all of the shares issued upon such
    exercise. Holders of exercisable warrants for common stock may
    exercise such warrants in accordance with the terms of the
    applicable warrant agreement and tender some or all of the
    shares issued upon such exercise. Holders of our Series&#160;A
    preferred stock may convert their shares into shares of common
    stock in accordance with the terms of the preferred stock and
    tender some or all of the shares issued upon such conversion.
    <B>In order to validly tender shares in the tender offer, you
    must exercise or convert your options, warrants or preferred
    stock, as the case may be. Only tenders of common stock will be
    accepted under the terms of the tender offer.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    As of December&#160;1, 2006, we had issued and outstanding
    305,671,754&#160;shares of common stock and
    25,599,998&#160;shares of Class&#160;B common stock. The
    30,000,000&#160;shares of common stock that we are offering to
    purchase represent approximately 9.8% of the shares of common
    stock then outstanding, and represent 9.1% of the total number
    of shares of common stock and shares of Class&#160;B common
    stock then outstanding and 5.3% of the total combined voting
    power of the common stock and Class&#160;B common stock then
    outstanding. The shares of common stock are quoted on Nasdaq
    under the ticker symbol &#147;EXPE.&#148; <I>See
    Section&#160;8.</I> We urge stockholders to obtain current
    market quotations for the shares.
</DIV>
<A name='104'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">THE
    TENDER OFFER</FONT></B>
</DIV>
</A>
<A name='105'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">1.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Number of
    Shares; Proration.</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>General.</I>&#160;&#160;Upon the terms and subject to the
    conditions of the tender offer, Expedia will purchase
    30,000,000&#160;shares, or such fewer number of shares as are
    properly tendered and not properly withdrawn in accordance with
    Section&#160;4, before the scheduled expiration date of the
    tender offer, at prices not greater than $22.00 nor less than
    $18.50 per share, net to the seller in cash, without interest.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The term &#147;expiration date&#148; means 5:00&#160;p.m., New
    York City time, on Wednesday, January&#160;10, 2007, unless and
    until Expedia, in its sole discretion, shall have extended the
    period of time during which the tender offer will remain open,
    in which event the term &#147;expiration date&#148; shall refer
    to the latest time and date at which the tender offer, as so
    extended by Expedia, shall expire. See Section&#160;15 for a
    description of Expedia&#146;s right to extend, delay, terminate
    or amend the tender offer. In accordance with the rules of the
    Securities and Exchange Commission, Expedia may, and Expedia
    expressly reserves the right to, purchase under the tender offer
    an additional number of shares not to exceed 2% of the
    outstanding shares of common stock without amending or extending
    the tender offer. <I>See Section&#160;15.</I> In
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    6
</DIV><!-- END LOGICAL PAGE -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    the event of an over-subscription of the tender offer as
    described below, shares tendered at or below the purchase price
    will be subject to proration, except for odd lots. The proration
    period and, except as described herein, withdrawal rights,
    expire on the expiration date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If we
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    increase the price to be paid for shares above $22.00 per share
    or decrease the price to be paid for shares below $18.50 per
    share,
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    increase the number of shares being sought in the tender offer
    and this increase in the number of shares sought exceeds 2% of
    the outstanding shares of common stock,&#160;or
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    decrease the number of shares being sought,&#160;and
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    the tender offer is scheduled to expire at any time earlier than
    the expiration of a period ending on the tenth business day
    from, and including, the date that we first publish, send or
    give notice, in the manner specified in Section&#160;15, of any
    such increase or decrease, we will extend the tender offer until
    the expiration of ten business days from the date that we first
    publish notice of any increase or decrease. For the purposes of
    the tender offer, a &#147;business day&#148; means any day other
    than a Saturday, Sunday or U.S.&#160;federal holiday and
    consists of the time period from 12:01&#160;a.m. through 12:00
    Midnight, New York City time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>The tender offer is not conditioned on any minimum number of
    shares being tendered. The tender offer is, however, subject to
    other conditions. <I>See Section&#160;7.</I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In accordance with Instruction&#160;5 of the letter of
    transmittal, stockholders desiring to tender shares must specify
    the price or prices, not greater than $22.00 nor less than
    $18.50 per share, at which they are willing to sell their shares
    to Expedia under the tender offer. Alternatively, stockholders
    desiring to tender shares can choose not to specify a price and,
    instead, specify that they will sell their shares at the
    purchase price that Expedia ultimately pays for shares properly
    tendered and not properly withdrawn in the tender offer, which
    could result in the tendering stockholder receiving a price per
    share as low as $18.50 or as high as $22.00. If tendering
    stockholders wish to maximize the chance that Expedia will
    purchase their shares, they should check the box in the section
    of the letter of transmittal captioned
    &#147;Shares&#160;Tendered at Price Determined Pursuant to the
    Tender Offer.&#148; Note that this election could result in the
    tendered shares being purchased at the minimum price of $18.50
    per share.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>To tender shares properly, stockholders must specify one and
    only one price box in the appropriate section in each letter of
    transmittal. If you specify more than one price or if you fail
    to check any price at all you will not have validly tendered
    your shares. <I>See Section&#160;3.</I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    As promptly as practicable following the expiration date,
    Expedia will, in its sole discretion, determine the purchase
    price that it will pay for shares properly tendered and not
    properly withdrawn, taking into account the number of shares
    tendered and the prices specified by tendering stockholders.
    Expedia will select the lowest purchase price, not greater than
    $22.00 nor less than $18.50 per share, net to the seller in
    cash, without interest, that will enable it to purchase
    30,000,000&#160;shares, or such fewer number of shares as are
    properly tendered and not properly withdrawn in the tender
    offer. Expedia will purchase all shares properly tendered at or
    below the purchase price (and not properly withdrawn), all at
    the purchase price, upon the terms and subject to the conditions
    of the tender offer, including the odd lot, proration and
    conditional tender provisions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Expedia will not purchase shares tendered at prices greater than
    the purchase price and shares that it does not accept in the
    tender offer because of proration provisions or conditional
    tenders. Expedia will return to the tendering stockholders
    shares that it does not purchase in the tender offer at
    Expedia&#146;s expense as promptly as practicable after the
    expiration date. By following the instructions to the letter of
    transmittal, stockholders can specify one minimum price for a
    specified portion of their shares and a different minimum price
    for other specified shares, but stockholders must submit a
    separate letter of transmittal for shares tendered at each
    price. Stockholders also can specify the order in which Expedia
    will purchase the specified portions in the event that, as a
    result of the proration provisions or otherwise, Expedia
    purchases some but not all of the tendered shares pursuant to
    the tender offer.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    7
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If the number of shares properly tendered at or below the
    purchase price and not properly withdrawn prior to the
    expiration date is fewer than or equal to
    30,000,000&#160;shares, or such greater number of shares as
    Expedia may elect to purchase, subject to applicable law,
    Expedia will, upon the terms and subject to the conditions of
    the tender offer, purchase all such shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Priority of Purchases.</I>&#160;&#160;Upon the terms and
    subject to the conditions of the tender offer, if greater than
    30,000,000&#160;shares, or such greater number of shares as
    Expedia may elect to purchase, subject to applicable law, have
    been properly tendered at prices at or below the purchase price
    and not properly withdrawn prior to the expiration date, Expedia
    will purchase properly tendered shares on the basis set forth
    below:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    First, we will purchase all shares tendered by all holders of
    &#147;odd lots&#148; who:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    tender all shares owned beneficially or of record at a price at
    or below the purchase price selected by us (partial tenders will
    not qualify for this preference);&#160;and
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    complete the section entitled &#147;Odd Lots&#148; in the letter
    of transmittal and, if applicable, in the notice of guaranteed
    delivery.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Second, subject to the conditional tender provisions described
    in Section&#160;6, we will purchase all other shares tendered at
    prices at or below the purchase price selected by us on a pro
    rata basis with appropriate adjustments to avoid purchases of
    fractional shares, as described below.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Third, only if necessary to permit us to purchase
    30,000,000&#160;shares (or such greater number of shares as we
    may elect to purchase, subject to applicable law), shares
    conditionally tendered (for which the condition was not
    initially satisfied) at or below the purchase price selected by
    us, will, to the extent feasible, be selected for purchase by
    random lot. To be eligible for purchase by random lot,
    stockholders whose shares are conditionally tendered must have
    tendered all of their shares.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Expedia may not purchase all of the shares that a stockholder
    tenders in the tender offer even if they are tendered at prices
    at or below the purchase price. It is also possible that Expedia
    will not purchase any of the shares conditionally tendered even
    though those shares were tendered at prices at or below the
    purchase price.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Odd Lots.</I>&#160;&#160;For purposes of the tender offer,
    the term &#147;odd lots&#148; shall mean all shares properly
    tendered prior to the expiration date at prices at or below the
    purchase price and not properly withdrawn by any person,
    referred to as an &#147;odd lot&#148; holder, who owns
    beneficially or of record an aggregate of fewer than
    100&#160;shares and so certifies in the appropriate place on the
    letter of transmittal and, if applicable, on the notice of
    guaranteed delivery. To qualify for this preference, an odd lot
    holder must tender all shares owned beneficially or of record by
    the odd lot holder in accordance with the procedures described
    in Section&#160;3. As set forth above, Expedia will accept odd
    lots for payment before proration, if any, of the purchase of
    other tendered shares. This preference is not available to
    partial tenders or to beneficial or record holders of an
    aggregate of 100 or more shares, even if these holders have
    separate accounts or share certificates representing fewer than
    100&#160;shares. By accepting the tender offer, an odd lot
    holder who holds shares in its name and tenders its shares
    directly to the depositary would not only avoid the payment of
    brokerage commissions, but also would avoid any applicable odd
    lot discounts in a sale of the odd lot holder&#146;s shares on
    Nasdaq. Any odd lot holder wishing to tender all of its shares
    pursuant to the tender offer should complete the section
    entitled &#147;Odd Lots&#148; in the letter of transmittal and,
    if applicable, in the notice of guaranteed delivery.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Proration.</I>&#160;&#160;If proration of tendered shares is
    required, Expedia will determine the proration factor as soon as
    practicable following the expiration date. Subject to adjustment
    to avoid the purchase of fractional shares and subject to the
    provisions governing conditional tenders described in
    Section&#160;6 of this offer to purchase, proration for each
    stockholder that tenders shares will be based on the ratio of
    the total number of shares that we accept for purchase
    (excluding &#147;odd lots&#148;) to the total number of shares
    properly tendered (and not properly withdrawn) at or below the
    purchase price by all stockholders (other than &#147;odd
    lot&#148; holders).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Because of the difficulty in determining the number of shares
    properly tendered, including shares tendered by guaranteed
    delivery procedures, as described in Section&#160;3, and not
    properly withdrawn, and because of the odd lot procedure and
    conditional tender provisions, Expedia does not expect that it
    will be able to announce the final proration factor or commence
    payment for any shares purchased under the tender offer until at
    least five business days after the expiration date. The
    preliminary results of any proration will be announced by press
    release as
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    8
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    promptly as practicable after the expiration date. Stockholders
    may obtain preliminary proration information from the
    information agent and may be able to obtain this information
    from their brokers.
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    As described in Section&#160;14, the number of shares that
    Expedia will purchase from a stockholder under the tender offer
    may affect the U.S.&#160;federal income tax consequences to that
    stockholder and, therefore, may be relevant to that
    stockholder&#146;s decision whether or not to tender shares.
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We will mail this offer to purchase and the letter of
    transmittal to record holders of shares and we will furnish this
    offer to purchase to brokers, dealers, commercial banks and
    trust companies whose names, or the names of whose nominees,
    appear on Expedia&#146;s stockholder list or, if applicable,
    that are listed as participants in a clearing agency&#146;s
    security position listing for subsequent transmittal to
    beneficial owners of shares.
</DIV>
<A name='106'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">2.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Purpose
    of the Tender Offer.</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>
</A>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Expedia believes that the tender offer is a prudent use of its
    financial resources given its business profile, capital
    structure, assets and the current market price of the shares,
    and that investing in its own shares is an attractive use of
    capital and an efficient means to provide value to its
    stockholders. The tender offer represents the opportunity for
    Expedia to return cash to stockholders who elect to tender their
    shares. Where shares are tendered by the registered owner of
    those shares directly to the depositary, the sale of those
    shares in the tender offer will permit the seller to avoid the
    usual transaction costs associated with open market sales.
    Furthermore, odd lot holders who hold shares registered in their
    names and tender their shares directly to the depositary and
    whose shares are purchased under the tender offer will avoid not
    only the payment of brokerage commissions but also any
    applicable odd lot discounts that might be payable on sales of
    their shares in Nasdaq transactions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Stockholders who do not tender their shares pursuant to the
    tender offer and stockholders who otherwise retain an equity
    interest in Expedia as a result of a partial tender of shares,
    proration or a conditional tender for which the condition is not
    satisfied will continue to be owners of Expedia and will realize
    a proportionate increase in their relative equity interest in
    Expedia immediately following consummation of the tender offer
    and thus in Expedia&#146;s future earnings and assets, and will
    bear the attendant risks and rewards associated with owning the
    equity securities of Expedia, including risks associated with
    owning equity in a company that may be more highly leveraged
    than Expedia is currently. Expedia believes the tender offer, if
    completed, will be accretive to earnings per share. However the
    actual impact of the tender offer on Expedia&#146;s earnings per
    share will depend upon, among other things, the terms and
    conditions of additional indebtedness, if any. <I>See
    Section&#160;10.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    After the completion of the tender offer, Expedia expects to
    have sufficient cash flow and access to funding to meet its cash
    needs for normal operations, anticipated capital expenditures
    and acquisition opportunities that may arise. However, Expedia
    does from time to time evaluate potential acquisition
    opportunities, which in some cases may involve a significant
    amount of cash consideration, and which, as a result of the
    purchase of shares in the tender offer and any such acquisitions
    for cash using the proceeds of debt financing, could result in a
    significant increase in the amount of Expedia&#146;s
    indebtedness and leverage. <I>See Section&#160;9.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Neither Expedia nor the Expedia Board of Directors makes any
    recommendation to any stockholder as to whether to tender or
    refrain from tendering any shares or as to the price or prices
    at which stockholders may choose to tender their shares. Expedia
    has not authorized any person to make any recommendation.
    Stockholders should carefully evaluate all information in the
    tender offer, should consult their own investment and tax
    advisors, and should make their own decisions about whether to
    tender shares, and, if so, how many shares to tender and the
    price or prices at which to tender. Expedia has been advised
    that none of its directors or executive officers or Liberty
    Media Corporation (&#147;Liberty Media&#148;) intends to tender
    any shares in the tender offer.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The tender offer is in addition to the share repurchase program
    authorized by our Board of Directors in August 2006, pursuant to
    which Expedia is authorized to repurchase up to an additional
    20&#160;million outstanding shares of common stock. Whether or
    not we may make such repurchases or any additional repurchases
    will depend on many factors, including, without limitation, the
    number of shares, if any, that we purchase in this tender offer,
    whether or not, in Expedia&#146;s judgment, such future
    repurchases would be accretive to earnings per share,
    Expedia&#146;s business and financial performance and situation,
    the business and market conditions at the time, including the
    price of the shares, and such other factors as Expedia may
    consider relevant. Any future repurchases may be on the same
    terms
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    9
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    or on terms that are more or less favorable to the selling
    stockholders than the terms of the tender offer.
    <FONT style="white-space: nowrap">Rule&#160;13e-4</FONT>
    of the Exchange Act prohibits Expedia and its affiliates from
    purchasing any shares, other than pursuant to the tender offer,
    until at least ten business days after the expiration date of
    the tender offer, except pursuant to certain limited exceptions
    provided in
    <FONT style="white-space: nowrap">Rule&#160;14e-5</FONT>
    of the Exchange Act.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Expedia will hold in treasury any shares that it acquires
    pursuant to the tender offer, and such shares will be available
    for Expedia to issue without further stockholder action (except
    as required by applicable law or the rules of Nasdaq or any
    other securities exchange on which the shares may then be
    listed) for various purposes including, without limitation,
    acquisitions, raising additional capital and the satisfaction of
    obligations under existing or future employee benefit or
    compensation programs or stock plans or compensation programs
    for directors.
</DIV>
<A name='107'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">3.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Procedures
    for Tendering Shares.</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Proper Tender of Shares.</I>&#160;&#160;For stockholders to
    properly tender shares under the tender offer:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the depositary must receive, at the depositary&#146;s address
    set forth on the back cover page of this offer to purchase,
    share certificates (or confirmation of receipt of such shares
    under the procedure for book-entry transfer set forth below),
    together with a properly completed and duly executed letter of
    transmittal, including any required signature guarantees, or an
    &#147;agent&#146;s message,&#148; and any other documents
    required by the letter of transmittal, before the tender offer
    expires,&#160;or
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the tendering stockholder must comply with the guaranteed
    delivery procedure set forth below.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If a broker, dealer, commercial bank, trust company or other
    nominee holds your shares, it is likely they have an earlier
    deadline for you to act to instruct them to accept the tender
    offer on your behalf. We urge you to contact your broker,
    dealer, commercial bank, trust company or other nominee to find
    out their applicable deadline.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>In accordance with Instruction&#160;5 of the letter of
    transmittal, stockholders desiring to tender shares in the
    tender offer must properly indicate in the section captioned
    (1)&#160;&#147;Price (in Dollars) Per Share at Which Shares are
    Being Tendered&#148; on the letter of transmittal the price (in
    multiples of $.25) at which stockholders are tendering shares or
    (2)&#160;&#147;Shares&#160;Tendered at Price Determined Pursuant
    to the Tender Offer&#148; in the letter of transmittal that the
    stockholder will accept the purchase price determined by Expedia
    in accordance with the terms of the tender offer.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If tendering stockholders wish to maximize the chance that
    Expedia will purchase their shares, they should check the box in
    the section of the letter of transmittal captioned
    &#147;Shares&#160;Tendered at Price Determined Pursuant to the
    Tender Offer.&#148; Note that this election could have the
    effect of decreasing the price at which Expedia purchases
    tendered shares because shares tendered using this election will
    be available for purchase at the minimum price of $18.50 per
    share and, as a result, it is possible that this election could
    result in Expedia purchasing tendered shares at the minimum
    price of $18.50 per share.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    A stockholder who desires to tender shares at more than one
    price must complete a separate letter of transmittal for each
    price at which such stockholder tenders shares, provided that a
    stockholder may not tender the same shares (unless properly
    withdrawn previously in accordance with Section&#160;4)&#160;at
    more than one price. <B>To tender shares properly, stockholders
    must check one and only one price box in the appropriate section
    of each letter of transmittal. If you check more than one box or
    if you fail to check any box at all you will not have validly
    tendered your shares.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Odd lot holders who tender all shares must complete the section
    captioned &#147;Odd Lots&#148; in the letter of transmittal and,
    if applicable, in the notice of guaranteed delivery, to qualify
    for the preferential treatment available to odd lot holders as
    set forth in Section&#160;1.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>We urge stockholders who hold shares through brokers or banks
    to consult the brokers or banks to determine whether transaction
    costs are applicable if they tender shares through the brokers
    or banks and not directly to the depositary.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Signature Guarantees.</I>&#160;&#160;Except as otherwise
    provided below, all signatures on a letter of transmittal must
    be guaranteed by a financial institution (including most banks,
    savings and loans associations and brokerage houses)
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    10
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    which is a participant in the Securities Transfer Agents
    Medallion Program. Signatures on a letter of transmittal need
    not be guaranteed if:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the letter of transmittal is signed by the registered holder of
    the shares (which term, for purposes of this Section&#160;3,
    shall include any participant in The Depository Trust Company,
    referred to as the &#147;book-entry transfer facility,&#148;
    whose name appears on a security position listing as the owner
    of the shares) tendered therewith and the holder has not
    completed either the box captioned &#147;Special Delivery
    Instructions&#148; or the box captioned &#147;Special Payment
    Instructions&#148; in the letter of transmittal;&#160;or
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    if shares are tendered for the account of a bank, broker,
    dealer, credit union, savings association or other entity which
    is a member in good standing of the Securities Transfer Agents
    Medallion Program or a bank, broker, dealer, credit union,
    savings association or other entity which is an &#147;eligible
    guarantor institution,&#148; as such term is defined in
    <FONT style="white-space: nowrap">Rule&#160;17Ad-15</FONT>
    under the Exchange Act. <I>See Instruction&#160;1 of the letter
    of transmittal.</I>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If a share certificate is registered in the name of a person
    other than the person executing a letter of transmittal, or if
    payment is to be made to a person other than the registered
    holder, then the certificate must be endorsed or accompanied by
    an appropriate stock power, in either case signed exactly as the
    name of the registered holder appears on the certificate, with
    the signature guaranteed by an eligible guarantor institution.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Expedia will make payment for shares tendered and accepted for
    payment under the tender offer only after the depositary timely
    receives share certificates or a timely confirmation of the
    book-entry transfer of the shares into the depositary&#146;s
    account at the book-entry transfer facility as described above,
    a properly completed and duly executed letter of transmittal, or
    an agent&#146;s message in the case of a book-entry transfer,
    and any other documents required by the letter of transmittal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Method of Delivery.&#160;&#160;</I><B>The method of delivery
    of all documents, including share certificates, the letter of
    transmittal and any other required documents, is at the election
    and risk of the tendering stockholder. If you choose to deliver
    required documents by mail, we recommend that you use registered
    mail with return receipt requested, properly insured.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Book-Entry Delivery.</I>&#160;&#160;The depositary will
    establish an account with respect to the shares for purposes of
    the tender offer at the book-entry transfer facility within two
    business days after the date of this offer to purchase, and any
    financial institution that is a participant in the book-entry
    transfer facility&#146;s system may make book-entry delivery of
    the shares by causing the book-entry transfer facility to
    transfer shares into the depositary&#146;s account in accordance
    with the book-entry transfer facility&#146;s procedures for
    transfer. Although participants in the book-entry transfer
    facility may effect delivery of shares through a book-entry
    transfer into the depositary&#146;s account at the book-entry
    transfer facility, either
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a properly completed and duly executed letter of transmittal,
    including any required signature guarantees, or an agent&#146;s
    message, and any other required documents must, in any case, be
    transmitted to and received by the depositary at its address set
    forth on the back cover page of this offer to purchase before
    the expiration date,&#160;or
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the guaranteed delivery procedure described below must be
    followed.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Delivery of the letter of transmittal and any other required
    documents to the book-entry transfer facility does not
    constitute delivery to the depositary.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The term &#147;agent&#146;s message&#148; means a message
    transmitted by the book-entry transfer facility to, and received
    by, the depositary, which states that the book-entry transfer
    facility has received an express acknowledgment from the
    participant in the book-entry transfer facility tendering the
    shares that the participant has received and agrees to be bound
    by the terms of the letter of transmittal and that Expedia may
    enforce the agreement against the participant.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Expedia Retirement Savings Plan.</I>&#160;&#160;Participants
    who hold shares of Expedia common stock through the Expedia
    Retirement Savings Plan desiring to direct Fidelity Management
    Trust Company, the trustee for the plan, to tender any shares
    held through their accounts under the plan pursuant to the
    tender offer must instruct the trustee to tender such shares by
    properly completing, duly executing and returning to the trustee
    the election forms sent
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    11
</DIV><!-- END LOGICAL PAGE -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    separately to such participants by Expedia. The trustee will
    aggregate all such tenders and execute letters of transmittal on
    behalf of all plan participants desiring to tender plan shares.
    <B>Delivery of a letter of transmittal by a participant in the
    plan with respect to any plan shares does not constitute proper
    tender of such shares. Only the trustee can properly tender any
    plan shares. The deadline for submitting election forms to the
    trustee is earlier than the expiration date because of the need
    to tabulate participant instructions.</B> If a stockholder
    desires to tender shares owned outside of a plan, as well as
    plan shares, such stockholder must properly complete and duly
    execute a letter of transmittal for the shares owned outside the
    plan and deliver such letter of transmittal directly to the
    depositary, and follow the special instructions provided by
    Expedia for directing the trustee to tender plan shares. Please
    direct any questions regarding the tender of plan shares to the
    trustee in accordance with the procedures described in the
    separate materials provided to plan participants.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Federal Backup Withholding Tax.</I>&#160;&#160;Under the
    federal income tax backup withholding rules, 28% of the gross
    proceeds payable to a stockholder or other payee pursuant to the
    tender offer must be withheld and remitted to the United States
    Treasury, unless the stockholder or other payee provides his or
    her taxpayer identification number (employer identification
    number or social security number) to the depositary and
    certifies that such number is correct or an exemption otherwise
    applies under applicable regulations. Therefore, unless such an
    exemption exists and is proven in a manner satisfactory to the
    depositary, each tendering stockholder should complete and sign
    the Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9</FONT>
    included as part of the letter of transmittal so as to provide
    the information and certification necessary to avoid backup
    withholding. Certain stockholders (including, among others, all
    corporations and certain foreign individuals) are not subject to
    these backup withholding and reporting requirements. In order
    for a foreign individual to qualify as an exempt recipient, that
    stockholder must submit a statement, signed under penalties of
    perjury, attesting to that individual&#146;s exempt status.
    Tendering stockholders can obtain such statements from the
    depositary. <I>See Instruction&#160;12 of the letter of
    transmittal.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Any tendering stockholder or other payee who fails to
    complete fully and sign the Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9</FONT>
    included in the letter of transmittal may be subject to required
    federal income tax backup withholding of 28% of the gross
    proceeds paid to such stockholder or other payee pursuant to the
    tender offer.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Gross proceeds payable pursuant to the tender offer to a foreign
    stockholder or his or her agent will be subject to withholding
    of federal income tax at a rate of 30%, unless we determine that
    a reduced rate of withholding is applicable pursuant to a tax
    treaty or that an exemption from withholding is applicable
    because such gross proceeds are effectively connected with the
    conduct of a trade or business within the United States. For
    this purpose, a foreign stockholder is any stockholder that is
    not
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a citizen or resident of the United States,
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a corporation, partnership or other entity created or organized
    in or under the laws of the United States,
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a trust whose administration is subject to the primary
    supervision of a U.S.&#160;court and which has one or more
    U.S.&#160;persons who have the authority to make all substantial
    decisions,&#160;or
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an estate the income of which is subject to United States
    federal income taxation regardless of its source.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    A foreign stockholder may be eligible to file for a refund of
    such tax or a portion of such tax if such stockholder meets the
    &#147;complete redemption,&#148; &#147;substantially
    disproportionate&#148; or &#147;not essentially equivalent to a
    dividend&#148; tests described in Section&#160;14 or if such
    stockholder is entitled to a reduced rate of withholding
    pursuant to a tax treaty and Expedia withheld at a higher rate.
    In order to obtain a reduced rate of withholding under a tax
    treaty, a foreign stockholder must deliver to the depositary
    before the payment a properly completed and executed statement
    claiming such an exemption or reduction. Tendering stockholders
    can obtain such statements from the depositary. In order to
    claim an exemption from withholding on the grounds that gross
    proceeds paid pursuant to the tender offer are effectively
    connected with the conduct of a trade or business within the
    United States, a foreign stockholder must deliver to the
    depositary a properly executed statement claiming such
    exemption. Tendering stockholders can obtain such statements
    from the depositary. <I>See Instruction&#160;12 of the letter of
    transmittal.</I> We urge foreign stockholders to consult their
    own tax advisors regarding the application of federal income tax
    withholding, including eligibility for a withholding tax
    reduction or exemption and the refund procedure.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    For a discussion of United States federal income tax
    consequences to tendering stockholders, <I>see
    Section&#160;14.</I>
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    12
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Guaranteed Delivery.</I>&#160;&#160;If a stockholder desires
    to tender shares under the tender offer and the
    stockholder&#146;s share certificates are not immediately
    available or the stockholder cannot deliver the share
    certificates to the depositary before the expiration date, or
    the stockholder cannot complete the procedure for book-entry
    transfer on a timely basis, or if time will not permit all
    required documents to reach the depositary before the expiration
    date, the stockholder may nevertheless tender the shares,
    provided that the stockholder satisfies all of the following
    conditions:
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the stockholder makes the tender by or through an eligible
    guarantor institution;
</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the depositary receives by hand, mail, overnight courier or
    facsimile transmission, before the expiration date, a properly
    completed and duly executed notice of guaranteed delivery in the
    form Expedia has provided, specifying the price at which the
    stockholder is tendering shares, including (where required) a
    signature guarantee by an eligible guarantor institution in the
    form set forth in such notice of guaranteed delivery;&#160;and
</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the depositary receives the share certificates, in proper form
    for transfer, or confirmation of book-entry transfer of the
    shares into the depositary&#146;s account at the book-entry
    transfer facility, together with a properly completed and duly
    executed letter of transmittal, or a manually signed facsimile
    thereof, and including any required signature guarantees, or an
    agent&#146;s message, and any other documents required by the
    letter of transmittal, within three Nasdaq trading days after
    the date of receipt by the depositary of the notice of
    guaranteed delivery.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Return of Unpurchased Shares.</I>&#160;&#160;The depositary
    will return certificates for unpurchased shares as promptly as
    practicable after the expiration or termination of the tender
    offer or the proper withdrawal of the shares, as applicable, or,
    in the case of shares tendered by book-entry transfer at the
    book-entry transfer facility, the depositary will credit the
    shares to the appropriate account maintained by the tendering
    stockholder at the book-entry transfer facility, in each case
    without expense to the stockholder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Determination of Validity; Rejection of Shares; Waiver of
    Defects; No Obligation to Give Notice of
    Defects.</I>&#160;&#160;Expedia will determine, in its sole
    discretion, all questions as to the number of shares that we
    will accept, the price that we will pay for shares that we
    accept and the validity, form, eligibility (including time of
    receipt) and acceptance for payment of any tender of shares, and
    our determination will be final and binding on all parties.
    Expedia reserves the absolute right to reject any or all tenders
    of any shares that it determines are not in proper form or the
    acceptance for payment of or payment for which Expedia
    determines may be unlawful. Expedia also reserves the absolute
    right to waive any defect or irregularity in any tender with
    respect to any particular shares or any particular stockholder,
    and Expedia&#146;s interpretation of the terms of the tender
    offer will be final and binding on all parties. No tender of
    shares will be deemed to have been properly made until the
    stockholder cures, or Expedia waives, all defects or
    irregularities. None of Expedia, the depositary, the information
    agent or any other person will be under any duty to give
    notification of any defects or irregularities in any tender or
    incur any liability for failure to give this notification.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Tendering Stockholder&#146;s Representation and Warranty;
    Expedia&#146;s Acceptance Constitutes an
    Agreement.</I>&#160;&#160;A tender of shares under any of the
    procedures described above will constitute the tendering
    stockholder&#146;s acceptance of the terms and conditions of the
    tender offer, as well as the tendering stockholder&#146;s
    representation and warranty to Expedia that:
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the stockholder has a net long position in the shares or
    equivalent securities at least equal to the shares tendered
    within the meaning of
    <FONT style="white-space: nowrap">Rule&#160;14e-4</FONT>
    of the Exchange Act,&#160;and
</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the tender of shares complies with
    <FONT style="white-space: nowrap">Rule&#160;14e-4.</FONT>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    It is a violation of
    <FONT style="white-space: nowrap">Rule&#160;14e-4</FONT>
    for a person, directly or indirectly, to tender shares for that
    person&#146;s own account unless, at the time of tender and at
    the end of the proration period or period during which shares
    are accepted by lot (including any extensions thereof), the
    person so tendering:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    has a net long position equal to or greater than the amount
    tendered in
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the shares,&#160;or
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    securities immediately convertible into, or exchangeable or
    exercisable for, the shares,&#160;and
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    will deliver or cause to be delivered the shares in accordance
    with the terms of the tender offer.
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    13
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT style="white-space: nowrap">Rule&#160;14e-4</FONT>
    provides a similar restriction applicable to the tender or
    guarantee of a tender on behalf of another person.
    Expedia&#146;s acceptance for payment of shares tendered under
    the tender offer will constitute a binding agreement between the
    tendering stockholder and Expedia upon the terms and conditions
    of the tender offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Lost or Destroyed Certificates.</I>&#160;&#160;Stockholders
    whose share certificate for part or all of their shares has been
    lost, stolen, misplaced or destroyed may contact The Bank of New
    York, the transfer agent for Expedia shares, at the address and
    telephone number set forth on the back cover of this offer to
    purchase, for instructions as to obtaining a replacement share
    certificate. That share certificate will then be required to be
    submitted together with the letter of transmittal in order to
    receive payment for shares that are tendered and accepted for
    payment. The stockholder may be required to post a bond to
    secure against the risk that the original share certificate may
    subsequently emerge. We urge stockholders to contact The Bank of
    New York immediately in order to permit timely processing of
    this documentation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Stockholders must deliver share certificates, together with a
    properly completed and duly executed letter of transmittal,
    including any signature guarantees, or an agent&#146;s message,
    and any other required documents to the depositary and not to
    Expedia or the information agent. Expedia or the information
    agent will not forward any such documents to the depositary and
    delivery to Expedia or the information agent will not constitute
    a proper tender of shares.</B>
</DIV>
<A name='108'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">4.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Withdrawal
    Rights.</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Stockholders may withdraw shares tendered under the tender offer
    at any time prior to the expiration date. Thereafter, such
    tenders are irrevocable, except that they may be withdrawn after
    12:00 Midnight, New York City time, on Wednesday,
    February&#160;7, 2007 unless theretofore accepted for payment as
    provided in this offer to purchase.
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    For a withdrawal to be effective, the depositary must timely
    receive a written or facsimile transmission notice of withdrawal
    at the depositary&#146;s address set forth on the back cover
    page of this offer to purchase. Any such notice of withdrawal
    must specify the name of the tendering stockholder, the number
    of shares that the stockholder wishes to withdraw and the name
    of the registered holder of the shares. If the share
    certificates to be withdrawn have been delivered or otherwise
    identified to the depositary, then, before the release of the
    share certificates, the serial numbers shown on the share
    certificates must be submitted to the depositary and the
    signature(s) on the notice of withdrawal must be guaranteed by
    an eligible guarantor institution, unless the shares have been
    tendered for the account of an eligible guarantor institution.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If a stockholder has tendered shares under the procedure for
    book-entry transfer set forth in Section&#160;3, any notice of
    withdrawal also must specify the name and the number of the
    account at the book-entry transfer facility to be credited with
    the withdrawn shares and must otherwise comply with the
    book-entry transfer facility&#146;s procedures. Expedia will
    determine all questions as to the form and validity (including
    the time of receipt) of any notice of withdrawal, in its sole
    discretion, and such determination will be final and binding on
    all parties. None of Expedia, the depositary, the information
    agent or any other person will be under any duty to give
    notification of any defects or irregularities in any notice of
    withdrawal or incur any liability for failure to give this
    notification.
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    A stockholder may not rescind a withdrawal and Expedia will deem
    any shares that a stockholder properly withdraws not properly
    tendered for purposes of the tender offer, unless the
    stockholder properly re-tenders the withdrawn shares before the
    expiration date by following one of the procedures described in
    Section&#160;3.
</DIV>
<A name='109'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">5.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Purchase
    of Shares and Payment of Purchase Price.</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Upon the terms and subject to the conditions of the tender
    offer, as promptly as practicable following the expiration date,
    Expedia:
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    will determine the purchase price it will pay for shares
    properly tendered and not properly withdrawn before the
    expiration date, taking into account the number of shares so
    tendered and the prices specified by tendering
    stockholders,&#160;and
</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    will accept for payment and pay for, and thereby purchase,
    shares properly tendered at prices at or below the purchase
    price and not properly withdrawn prior to the expiration date.
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    14
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    For purposes of the tender offer, Expedia will be deemed to have
    accepted for payment, and therefore purchased shares, that are
    properly tendered at or below the purchase price and are not
    properly withdrawn, subject to the &#147;odd lot,&#148;
    proration and conditional tender provisions of the tender offer,
    only when, as and if it gives oral or written notice to the
    depositary of its acceptance of the shares for payment under the
    tender offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Upon the terms and subject to the conditions of the tender
    offer, as promptly as practicable after the expiration date,
    Expedia will accept for payment and pay a single per share
    purchase price not greater than $22.00 nor less than $18.50 per
    share for 30,000,000&#160;shares, subject to increase or
    decrease as provided in Section&#160;15, if properly tendered
    and not properly withdrawn, or such fewer number of shares as
    are properly tendered and not properly withdrawn.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Expedia will pay for shares that it purchases under the tender
    offer by depositing the aggregate purchase price for these
    shares with the depositary, which will act as agent for
    tendering stockholders for the purpose of receiving payment from
    Expedia and transmitting payment to the tendering stockholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In the event of proration, Expedia will determine the proration
    factor and pay for those tendered shares accepted for payment as
    soon as practicable after the expiration date; however, Expedia
    does not expect to be able to announce the final results of any
    proration and commence payment for shares purchased until at
    least five business days after the expiration date. Shares
    tendered and not purchased, including all shares tendered at
    prices greater than the purchase price and shares that Expedia
    does not accept for purchase due to proration or conditional
    tenders, will be returned to the tendering stockholder, or, in
    the case of shares tendered by book-entry transfer, will be
    credited to the account maintained with the book-entry transfer
    facility by the participant therein who so delivered the shares,
    at Expedia&#146;s expense, as promptly as practicable after the
    expiration date or termination of the tender offer without
    expense to the tendering stockholders. <B>Under no circumstances
    will Expedia pay interest on the purchase price regardless of
    any delay in making the payment.</B> If certain events occur,
    Expedia may not be obligated to purchase shares under the tender
    offer. <I>See Section&#160;7.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Expedia will pay all stock transfer taxes, if any, payable on
    the transfer to it of shares purchased under the tender offer.
    If, however,
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    payment of the purchase price is to be made to any person other
    than the registered holder,
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    certificate(s) for shares not tendered or tendered but not
    purchased are to be returned in the name of and to any person
    other than the registered holder(s) of such shares,&#160;or
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    if tendered certificates are registered in the name of any
    person other than the person signing the letter of transmittal,
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    the amount of all stock transfer taxes, if any (whether imposed
    on the registered holder or the other person), payable on
    account of the transfer to the person will be deducted from the
    purchase price unless satisfactory evidence of the payment of
    the stock transfer taxes, or exemption therefrom, is submitted.
    <I>See Instruction&#160;9 of the letter of transmittal.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Any tendering stockholder or other payee who fails to
    complete fully, sign and return to the depositary the substitute
    <FONT style="white-space: nowrap">Form&#160;W-9</FONT>
    included with the letter of transmittal may be subject to
    U.S.&#160;federal income tax backup withholding on the gross
    proceeds paid to the stockholder or other payee under the tender
    offer. <I>See Section&#160;3.</I></B>
</DIV>
<A name='110'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">6.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Conditional
    Tender of Shares.</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Subject to the exception for holders of odd lots, in the event
    of an over-subscription of the tender offer, shares tendered at
    or below the purchase price prior to the expiration date will be
    subject to proration. <I>See Section&#160;1.</I> As discussed in
    Section&#160;14, the number of shares to be purchased from a
    particular stockholder may affect the tax treatment of the
    purchase to the stockholder and the stockholder&#146;s decision
    whether to tender. Accordingly, a stockholder may tender shares
    subject to the condition that Expedia must purchase a specified
    minimum number of the stockholder&#146;s shares tendered
    pursuant to a letter of transmittal if Expedia purchases any
    shares tendered. Any stockholder desiring to make a conditional
    tender must so indicate in the box entitled &#147;Conditional
    Tender&#148; in the
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    15
</DIV><!-- END LOGICAL PAGE -->
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    letter of transmittal and indicate the minimum number of shares
    that Expedia must purchase if Expedia purchases any shares. We
    urge each stockholder to consult with his or her own financial
    or tax advisors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    After the expiration date, if more than 30,000,000&#160;shares
    (or such greater number of shares as we may elect to purchase,
    subject to applicable law) are properly tendered and not
    properly withdrawn, so that we must prorate our acceptance of
    and payment for tendered shares, we will calculate a preliminary
    proration factor based upon all shares properly tendered,
    conditionally or unconditionally. If the effect of this
    preliminary proration would be to reduce the number of shares
    that we purchase from any stockholder below the minimum number
    specified, the shares conditionally tendered will automatically
    be regarded as withdrawn (except as provided in the next
    paragraph). All shares tendered by a stockholder subject to a
    conditional tender that are withdrawn as a result of proration
    will be returned at our expense to the tendering stockholder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    After giving effect to these withdrawals, we will accept the
    remaining shares properly tendered, conditionally or
    unconditionally, on a <I>pro rata</I> basis, if necessary. If
    conditional tenders that would otherwise be regarded as
    withdrawn would cause the total number of shares that we
    purchase to fall below 30,000,000 (or such greater number of
    shares as we may elect to purchase, subject to applicable law)
    then, to the extent feasible, we will select enough of the
    shares conditionally tendered that would otherwise have been
    withdrawn to permit us to purchase such number of shares. In
    selecting among the conditional tenders, we will select by
    random lot, treating all tenders by a particular taxpayer as a
    single lot, and will limit our purchase in each case to the
    designated minimum number of shares to be purchased. To be
    eligible for purchase by random lot, stockholders whose shares
    are conditionally tendered must have tendered all of their
    shares.
</DIV>
<A name='111'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">7.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Conditions
    of the Tender Offer.</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Notwithstanding any other provision of the tender offer, Expedia
    will not be required to accept for payment, purchase or pay for
    any shares tendered, and may terminate or amend the tender offer
    or may postpone the acceptance for payment of, or the purchase
    of and the payment for shares tendered, subject to
    <FONT style="white-space: nowrap">Rule&#160;13e-4(f)</FONT>
    under the Exchange Act, if, at any time on or after
    December&#160;11, 2006 and before the expiration date, any of
    the following events shall have occurred (or shall have been
    reasonably determined by Expedia to have occurred) that, in
    Expedia&#146;s reasonable judgment and regardless of the
    circumstances giving rise to the event or events, make it
    inadvisable to proceed with the tender offer or with acceptance
    for payment:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    there shall have been threatened, instituted or pending any
    action or proceeding by any government or governmental,
    regulatory or administrative agency, authority or tribunal or
    any other person, domestic or foreign, before any court,
    authority, agency or tribunal that directly or indirectly:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    challenges the making of the tender offer, the acquisition of
    some or all of the shares under the tender offer or otherwise
    relates in any manner to the tender offer,&#160;or
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    in Expedia&#146;s reasonable judgment, could materially and
    adversely affect the business, condition (financial or other),
    assets, income, operations or prospects of Expedia or any of its
    subsidiaries, or otherwise materially impair in any way the
    contemplated future conduct of the business of Expedia or any of
    its subsidiaries or materially impair the contemplated benefits
    of the tender offer to Expedia;
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    there shall have been any action threatened, pending or taken,
    or approval withheld, or any statute, rule, regulation,
    judgment, order or injunction threatened, proposed, sought,
    promulgated, enacted, entered, amended, enforced or deemed to be
    applicable to the tender offer or Expedia or any of its
    subsidiaries, by any court or any authority, agency or tribunal
    that, in Expedia&#146;s reasonable judgment, would or might,
    directly or indirectly:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    make the acceptance for payment of, or payment for, some or all
    of the shares illegal or otherwise restrict or prohibit
    completion of the tender offer,
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    delay or restrict the ability of Expedia, or render Expedia
    unable, to accept for payment or pay for some or all of the
    shares,
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    materially impair the contemplated benefits of the tender offer
    to Expedia,&#160;or
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    16
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<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    materially and adversely affect the business, condition
    (financial or other), assets, income, operations or prospects of
    Expedia, or any of its subsidiaries, or otherwise materially
    impair in any way the contemplated future conduct of the
    business of Expedia or any of its subsidiaries;
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    there shall have occurred:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any general suspension of trading in, or limitation on prices
    for, securities on any national securities exchange or in the
    <FONT style="white-space: nowrap">over-the-counter</FONT>
    market in the United States or the European Union,
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the declaration of a banking moratorium or any suspension of
    payments in respect of banks in the United States or the
    European Union,
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a material change in United States or any other currency
    exchange rates or a suspension of or limitation on the markets
    therefor,
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the commencement or escalation of a war, armed hostilities or
    other international or national calamity directly or indirectly
    involving the United States or any of its territories, including
    but not limited to an act of terrorism,
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any limitation (whether or not mandatory) by any governmental,
    regulatory or administrative agency or authority on, or any
    event, or any disruption or adverse change in the financial or
    capital markets generally or the market for loan syndications in
    particular, that, in Expedia&#146;s reasonable judgment, might
    affect the extension of credit by banks or other lending
    institutions in the United States,
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any change in the general political, market, economic or
    financial conditions in the United States or abroad that could,
    in the reasonable judgment of Expedia, have a material adverse
    effect on the business, condition (financial or other), assets,
    income, operations or prospects of Expedia or any of its
    subsidiaries, or otherwise materially impair in any way the
    contemplated future conduct of the business of Expedia or any of
    its subsidiaries,
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    in the case of any of the foregoing existing at the time of the
    commencement of the tender offer, a material acceleration or
    worsening thereof,&#160;or
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any decline in the market price of the shares or the Dow Jones
    Industrial Average or the Standard and Poor&#146;s Index of 500
    Industrial Companies or the New York Stock Exchange or the
    Nasdaq Composite Index by a material amount (including, without
    limitation, an amount greater than 10%) from the close of
    business on December&#160;8, 2006;
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a tender offer or exchange offer for any or all of the shares
    (other than this tender offer), or any merger, business
    combination or other similar transaction with or involving
    Expedia or any of its subsidiaries or affiliates, shall have
    been proposed, announced or made by any person;
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any change or combination of changes shall have occurred or been
    threatened in the business, condition (financial or other),
    assets, income, operations, prospects or stock ownership of
    Expedia or any of its subsidiaries, that in Expedia&#146;s
    reasonable judgment is or may reasonably be likely to be
    material and adverse to Expedia or any of its subsidiaries or
    that otherwise materially impairs in any way the contemplated
    future conduct of the business of Expedia or any of its
    subsidiaries;
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any approval, permit, authorization, favorable review or consent
    of any governmental entity required to be obtained in connection
    with the tender offer shall not have been obtained on terms
    satisfactory to Expedia in its reasonable judgment;
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Expedia shall not have received a Required Opinion in respect of
    the purchase of shares pursuant to the tender offer (See
    &#147;Interests of Directors and Executive Officers;
    Transactions and Arrangements Concerning Shares&#160;&#151;
    Transactions and Arrangements Concerning Shares&#160;&#151; Tax
    Sharing Agreement&#148;);
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    17
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Expedia reasonably determines that the completion of the tender
    offer and the purchase of the shares may
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    cause the shares to be held of record by fewer than 300
    persons,&#160;or
</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    cause the shares to cease to be traded on Nasdaq or to be
    eligible for deregistration under the Exchange Act.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The foregoing conditions are for the sole benefit of Expedia and
    may be asserted by Expedia regardless of the circumstances
    giving rise to any of these conditions, and may be waived by
    Expedia, in whole or in part, at any time and from time to time,
    before the expiration date, in its sole discretion.
    Expedia&#146;s failure at any time to exercise any of the
    foregoing rights shall not be deemed a waiver of any of these
    rights, and each of these rights shall be deemed an ongoing
    right that may be asserted at any time and from time to time.
    Any determination or judgment by Expedia concerning the events
    described above will be final and binding on all parties.
</DIV>
<A name='112'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">8.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Price
    Range of Shares; Dividends.</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>
</A>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The shares of common stock have been quoted on Nasdaq under the
    ticker symbol &#147;EXPE&#148; since August&#160;9, 2005. The
    following table sets forth the high and low sales prices for
    Expedia common stock for each of the quarterly periods presented.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="83%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>High</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Low</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Fiscal 2005:
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="font-size: 10pt">Third Quarter (from August&#160;9,
    2005 through September&#160;30, 2005)
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    24.52
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    18.61
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="font-size: 10pt">Fourth Quarter
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26.32
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18.49
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Fiscal 2006:
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="font-size: 10pt">First Quarter
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    27.55
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    17.42
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="font-size: 10pt">Second Quarter
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20.55
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.36
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="font-size: 10pt">Third Quarter
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17.28
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12.87
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="font-size: 10pt">Fourth Quarter (through
    December&#160;8, 2006)
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    21.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.55
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We publicly announced the tender offer prior to the close of
    trading on Nasdaq on December&#160;8, 2006. On December&#160;7,
    2006, the reported closing price of the common stock on Nasdaq
    was $18.62 per share. On December 8, 2006, the last trading day
    prior to the commencement of the tender offer, the reported
    closing price of the common stock on Nasdaq was $20.46. <B>We
    urge stockholders to obtain current market quotations for the
    shares.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We have not historically paid dividends on our common stock or
    Class&#160;B common stock. Declaration and payment of future
    dividends, if any, will be at the discretion of the Board of
    Directors and will depend on, among other things, our results of
    operations, cash requirements and surplus, financial condition,
    share dilution management, legal risks, capital requirements
    relating to research and development, investments and
    acquisitions, and challenges to our business model and other
    factors that the Board of Directors may deem relevant. In
    addition, our bank credit facility limits our ability to pay
    cash dividends under certain circumstances.
</DIV>
<A name='113'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">9.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Source
    and Amount of Funds.</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Assuming that 30,000,000&#160;shares are purchased in the tender
    offer at a price between $18.50 and $22.00 per share, the
    aggregate purchase price will be between approximately
    $555&#160;million and $660&#160;million. Expedia expects that
    its related fees and expenses for the tender offer will be
    approximately $1.5&#160;million. Expedia anticipates that it
    will obtain all of the funds necessary to purchase shares
    tendered in the tender offer, and to pay related fees and
    expenses, through cash on hand
    <FONT style="white-space: nowrap">and/or</FONT>
    through the proceeds of additional indebtedness that we may
    incur either in the form of borrowings under our current bank
    credit facility described below to the extent permitted under
    the facility or through the public
    <FONT style="white-space: nowrap">and/or</FONT>
    private placement of new debt securities. The tender offer is
    not subject to the receipt of financing by Expedia.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    On July&#160;8, 2005 we entered into a Credit Agreement, as
    amended as of December&#160;7, 2006, among us, Expedia, Inc., a
    Washington corporation, Travelscape, Inc., a Nevada corporation,
    Hotels.com, a Delaware corporation, and Hotwire, Inc., a
    Delaware corporation, as Borrowers; the Lenders party thereto;
    Bank of America, N.A., as Syndication Agent; Wachovia Bank, N.A.
    and The Royal Bank of Scotland PLC, as Co-Documentation Agents;
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    18
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    JPMorgan Chase Bank, N.A., as Administrative Agent; and
    J.P.&#160;Morgan Europe Limited, as London Agent. The credit
    agreement is a $1.0&#160;billion five-year unsecured revolving
    credit facility and is unconditionally guaranteed by certain of
    our subsidiaries. The facility bears interest based on our
    financial leverage, which as of December 1, 2006 was equal to
    LIBOR plus 0.50%. The amount of standby letters of credit issued
    under the facility reduces the amount available to us. As of
    December&#160;1, 2006 there was $51.4&#160;million of
    outstanding stand-by letters of credit issued under the
    facility, leaving available borrowings of $948.6&#160;million.
    The facility also contains financial covenants consisting of a
    leverage ratio and a minimum net worth requirement. As a result
    of the minimum net worth requirement and depending upon the
    purchase price and the number of shares accepted for purchase,
    we expect that we would either seek an agreement with the
    lenders under the facility to amend the facility or terminate
    the facility and pay for the tendered shares using cash on hand
    and/or the proceeds from new indebtedness. Any such termination
    or failure to obtain new debt financing could have a material
    adverse effect on our liquidity. If Expedia incurs additional
    indebtedness to purchase tendered shares in the tender offer, we
    expect to repay such indebtedness using cash from Expedia&#146;s
    operations and may refinance any such borrowing from time to
    time.
</DIV>
<A name='114'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">10.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Certain
    Information Concerning Expedia.</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Expedia, Inc. is an online travel company, empowering business
    and leisure travelers with the tools and information they need
    to efficiently research, plan, book and experience travel. We
    have created a global travel marketplace used by a broad range
    of leisure and corporate travelers and offline retail travel
    agents. We make available, on a stand-alone and package basis,
    travel products and services provided by numerous airlines,
    lodging properties, car rental companies, destination service
    providers, cruise lines and other travel products and services.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Our portfolio of brands, which are described below, includes:
    Expedia.com, Hotels.com, Hotwire.com, our private label programs
    (Worldwide Travel Exchange and Interactive Affiliate Network),
    Classic Vacations, Expedia Corporate Travel, eLong, and
    TripAdvisor. In addition, many of these brands have related
    international points of sale.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Our executive offices are located at 3150 139th&#160;Avenue
    S.E., Bellevue, Washington 98005, telephone number
    <FONT style="white-space: nowrap">(425)&#160;679-7200.</FONT>
    Our Internet address is <I>www.expediainc.com </I>for corporate
    and investor information. The information contained on our web
    site or connected to our web site is not incorporated by
    reference into this offer to purchase and should not be
    considered part of this offer to purchase.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Additional Information.</I>&#160;&#160;Expedia is subject to
    the information requirements of the Exchange Act, and, in
    accordance therewith, files periodic reports, proxy statements
    and other information relating to its business, financial
    condition and other matters. Expedia is required to disclose in
    these proxy statements certain information, as of particular
    dates, concerning the Expedia directors and executive officers,
    their compensation, securities granted to them, the principal
    holders of the securities of Expedia and any material interest
    of such persons in transactions with Expedia. Pursuant to
    <FONT style="white-space: nowrap">Rule&#160;13e-4(c)(2)</FONT>
    under the Exchange Act, Expedia has filed with the Securities
    and Exchange Commission an Issuer Tender Offer Statement on
    Schedule&#160;TO which includes additional information with
    respect to the tender offer. This material and other information
    may be inspected at the public reference facilities maintained
    by the Securities and Exchange Commission at Room&#160;1024,
    450&#160;Fifth Street, N.W., Washington,&#160;D.C. 20549. Copies
    of this material can also be obtained by mail, upon payment of
    the Securities and Exchange Commission&#146;s customary charges,
    by writing to the Public Reference Section at 450&#160;Fifth
    Street, N.W., Washington,&#160;D.C. 20549. The Securities and
    Exchange Commission also maintains a web site on the Internet at
    <I>http://www.sec.gov </I>that contains reports, proxy and
    information statements and other information regarding
    registrants that file electronically with the Securities and
    Exchange Commission.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Incorporation by Reference.</I>&#160;&#160;The rules of the
    Securities and Exchange Commission allow us to &#147;incorporate
    by reference&#148; information into this document, which means
    that we can disclose important information to you by referring
    you to another document filed separately with the Securities and
    Exchange Commission. These documents contain important
    information about us.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    19
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="50%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="48%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B><FONT style="font-size: 9pt">SEC Filings (File No.
    000-51447)</FONT></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B><FONT style="font-size: 9pt">Period or Date Filed</FONT></B>
</DIV>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <I><FONT style="font-size: 10pt">Annual Report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT></FONT></I>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Year ended December&#160;31, 2005
    (including information specifically incorporated by reference
    into the Annual Report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    from Expedia&#146;s definitive proxy statement filed on
    May&#160;1, 2006)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <I><FONT style="font-size: 10pt">Quarterly Reports on
    <FONT style="white-space: nowrap">Form&#160;10-Q</FONT></FONT></I>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Quarters ended March&#160;31,
    2006, June&#160;30, 2006 and September&#160;30, 2006
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <I><FONT style="font-size: 10pt">Current Reports on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT></FONT></I>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Filed March&#160;3, 2006,
    March&#160;6, 2006, March&#160;13, 2006, March&#160;13, 2006,
    April&#160;7, 2006 (except for the information furnished
    pursuant to Item&#160;7.01 of
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    and the furnished exhibits relating to that information),
    May&#160;31, 2006, August&#160;4, 2006, August&#160;10, 2006
    (with respect to Item&#160;8.01 information only),
    August&#160;17, 2006 and October&#160;31, 2006
    </FONT>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We incorporate by reference the documents listed above. You may
    request a copy of these filings, at no cost, by writing or
    telephoning us at our principal executive offices at the
    following address:&#160;Investor Relations Department, Expedia,
    Inc., 3150 139th&#160;Avenue S.E., Bellevue, Washington 98005,
    <FONT style="white-space: nowrap">(425)&#160;679-7200.</FONT>
    Please be sure to include your complete name and address in the
    request.
</DIV>
<A name='115'>
<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">11.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Interests
    of Directors and Executive Officers; Transactions and
    Arrangements Concerning Shares.</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Interests of Directors and Executive Officers.</B>&#160;As of
    December&#160;1, 2006, Expedia had 305,671,754 issued and
    outstanding shares of common stock, 25,599,998 issued and
    outstanding shares of Class&#160;B common stock, 846&#160;shares
    of issued and outstanding Series&#160;A preferred stock
    convertible into 846&#160;shares of common stock, outstanding
    warrants to purchase 34,646,282&#160;shares of common stock and
    outstanding options to purchase 23,301,475&#160;shares of common
    stock. The 30,000,000&#160;shares Expedia is offering to
    purchase under the tender offer represent approximately 9.8% of
    the shares of common stock outstanding as of December&#160;1,
    2006 and 7.7% of the shares of common stock assuming exercise of
    all outstanding warrants and options and the conversion of all
    outstanding shares of Class&#160;B common stock and
    Series&#160;A preferred stock.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    As of December&#160;1, 2006, Expedia&#146;s directors and
    executive officers as a group (15 individuals) beneficially
    owned an aggregate of 86,280,595&#160;shares of common stock,
    representing approximately 25.19% of the outstanding shares of
    common stock assuming conversion or exercise of certain Expedia
    equity securities as described below. The directors and
    executive officers of Expedia are entitled to participate in the
    tender offer on the same basis as all other stockholders.
    However, they and Liberty Media have advised Expedia that they
    do not intend to tender any shares in the tender offer. To
    Expedia&#146;s knowledge, none of its affiliates intends to
    tender any shares in the tender offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following table presents information as of December&#160;1,
    2006 relating to the beneficial ownership of Expedia&#146;s
    capital stock by (1)&#160;each director and executive officer of
    Expedia, (2)&#160;all directors and executive officers of
    Expedia as a group and (3)&#160;Liberty Media.&#160;Except as
    set forth in the table, such persons listed in the table may be
    contacted at Expedia&#146;s corporate headquarters at 3150
    139th&#160;Avenue S.E., Bellevue, Washington 98005.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    For each listed person, the number of shares of Expedia common
    stock and Class&#160;B common stock and the percentage of each
    such class listed assume the conversion or exercise of certain
    Expedia equity securities, as described below, owned by such
    person, but do not assume the conversion or exercise of any
    equity securities owned by any other person, entity or group.
    Shares of Expedia Class&#160;B common stock may, at the option
    of the holder, be converted on a
    <FONT style="white-space: nowrap">one-for-one</FONT>
    basis into shares of Expedia common stock. For each listed
    person, the number of shares of Expedia common stock and
    Class&#160;B common stock and the percentage of each such class
    listed include shares of Expedia common stock and Class&#160;B
    common stock that may be acquired by such person, entity or
    group on the conversion or exercise of equity securities, such
    as stock options and warrants, that can be converted or
    exercised, and restricted stock units that have or will have
    vested, within 60&#160;days of December&#160;1, 2006.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The percentage of votes for all classes of Expedia&#146;s
    capital stock is based on one vote for each share of common
    stock, 10 votes for each share of Class&#160;B common stock and
    two votes for each share of Series&#160;A preferred stock.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    20
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The last two columns of the table below reflect ownership and
    voting percentages after giving effect to the tender offer,
    assuming Expedia purchases 30,000,000&#160;shares and that
    Expedia&#146;s directors and executive officers and Liberty
    Media do not tender any shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="35%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Percent of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Percent of Votes<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Common Stock<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(All Classes)<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom">
    <B>Expedia Common Stock</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom">
    <B>Expedia Class&#160;B Common Stock</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Percent of Votes<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>After Tender<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>After Tender<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Beneficial Owner</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Shares</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>%</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Shares</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>%</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>(All Classes)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Offer(+)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Offer(+)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <FONT style="font-size: 9pt">Liberty Media Corporation 12300
    Liberty Blvd. Englewood, CO 80112
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    69,219,787(1
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20.90
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,599,998
</TD>
<TD nowrap align="left" valign="bottom">
    (2)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    53.34
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22.98
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    56.35
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <FONT style="font-size: 9pt">Barry Diller
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    84,345,775(3
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24.75
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,599,998
</TD>
<TD nowrap align="left" valign="bottom">
    (4)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    55.11
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27.14
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    58.16
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <FONT style="font-size: 9pt">Victor A. Kaufman
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    831,250(5
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <FONT style="font-size: 9pt">Dara Khosrowshahi
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    647,903(6
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <FONT style="font-size: 9pt">A. George &#147;Skip&#148; Battle
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    252,530(7
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <FONT style="font-size: 9pt">Simon Breakwell
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    62,513(8
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <FONT style="font-size: 9pt">Jonathan Dolgen
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,228(9
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <FONT style="font-size: 9pt">David Goldhill
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,500
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <FONT style="font-size: 9pt">William R. Fitzgerald
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;(10
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <FONT style="font-size: 9pt">Peter Kern
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,500
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <FONT style="font-size: 9pt">John C. Malone
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;(10
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <FONT style="font-size: 9pt">Michael B. Adler
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,034
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <FONT style="font-size: 9pt">Kathleen K. Dellplain
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    115,733(11
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <FONT style="font-size: 9pt">Burke F. Norton
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <FONT style="font-size: 9pt">Paul Onnen
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,727
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <FONT style="font-size: 9pt">Patricia L. Zuccotti
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    902
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <FONT style="font-size: 9pt">All executive officers and
    directors as a group (15&#160;persons) (12)
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    86,280,595
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25.19
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,599,998
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    55.27
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27.6
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    58.32
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="5%"></TD>
    <TD width="1%"></TD>
    <TD width="94%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (+) </TD>
    <TD></TD>
    <TD valign="bottom">
    Assuming Expedia purchases 30,000,000&#160;shares and that
    Expedia&#146;s directors and executive officers and Liberty
    Media do not tender.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (*) </TD>
    <TD></TD>
    <TD valign="bottom">
    The percentage of shares beneficially owned does not exceed 1%
    of the class.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Based on information filed on Schedule&#160;13D/A with the SEC
    on December&#160;13, 2005 by Liberty Media, Mr.&#160;Diller and
    the BDTV Entities. Consists of (i)&#160;43,619,789&#160;shares
    of Expedia common stock held by Liberty Media,
    (ii)&#160;1,176,594&#160;shares of Class&#160;B common stock
    held by Liberty Media and (iii)&#160;24,423,404&#160;shares of
    Class&#160;B common stock held by the BDTV Entities. The
    &#147;BDTV Entities&#148; consist of BDTV Inc., BDTV&#160;II
    Inc., BDTV&#160;III Inc. and BDTV IV Inc. Pursuant to a
    Stockholders Agreement, dated as of August&#160;9, 2005 by and
    between Liberty Media and Mr.&#160;Diller (the
    &#147;Stockholders Agreement&#148;) described below,
    Mr.&#160;Diller generally has the right to vote all of the
    shares of Expedia common stock and Class&#160;B common stock
    held by Liberty Media and the BDTV Entities.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    Consists of 1,176,594&#160;shares of Expedia Class&#160;B common
    stock held by Liberty Media and 24,423,404&#160;shares of
    Expedia Class&#160;B common stock held by the BDTV Entities.
    Pursuant to the Stockholders Agreement, Mr.&#160;Diller
    generally has the right to vote all of the shares of Expedia
    common stock and Class&#160;B common stock held by Liberty Media
    and the BDTV Entities.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (3) </TD>
    <TD></TD>
    <TD valign="bottom">
    Based on information filed on Schedule&#160;13D/A with the SEC
    on December&#160;13, 2005 by Liberty Media, Mr.&#160;Diller and
    the BDTV Entities. Consists of (i)&#160;5,441,618&#160;shares of
    Expedia common stock owned by Mr.&#160;Diller, (ii)&#160;options
    to purchase 9,500,000&#160;shares of Expedia common stock held
    by Mr.&#160;Diller, (iii)&#160;184,370&#160;shares of Expedia
    common stock held by a private foundation as to which
    Mr.&#160;Diller disclaims beneficial ownership,
    (iv)&#160;24,423,404&#160;shares of Expedia Class&#160;B common
    stock held by the BDTV Entities (see footnote&#160;1 above),
    (v)&#160;43,619,789&#160;shares of Expedia common stock held by
    the BDTV Entities (see footnote&#160;1 above) and
    (vi)&#160;1,176,594&#160;shares of Expedia Class&#160;B common
    stock held by Liberty Media (see footnote&#160;1 above).
    Pursuant to the Stockholders Agreement, Mr.&#160;Diller
    generally has the right to vote all of the </TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    21
</DIV><!-- END LOGICAL PAGE -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="5%"></TD>
    <TD width="1%"></TD>
    <TD width="94%"></TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    shares of Expedia common stock and Class&#160;B common stock
    held by Liberty Media and the BDTV Entities. Excludes shares of
    Expedia common stock and options to purchase shares of Expedia
    common stock held by Diane Von Furstenberg,
    Mr.&#160;Diller&#146;s spouse, as to which Mr.&#160;Diller
    disclaims beneficial ownership.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (4) </TD>
    <TD></TD>
    <TD valign="bottom">
    Consists of 1,176,594&#160;shares of Expedia Class&#160;B common
    stock held by Liberty Media and 24,423,404&#160;shares of
    Expedia Class&#160;B common stock held by the BDTV Entities.
    Pursuant to the Stockholders Agreement, Mr.&#160;Diller
    generally has the right to vote all of the shares of Expedia
    Class&#160;B common stock held by Liberty Media and the BDTV
    Entities.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (5) </TD>
    <TD></TD>
    <TD valign="bottom">
    Consists of options to purchase 831,250&#160;shares of Expedia
    common stock.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (6) </TD>
    <TD></TD>
    <TD valign="bottom">
    Consists of 99,707&#160;shares of Expedia common stock and
    options to purchase 548,196&#160;shares of Expedia common stock.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (7) </TD>
    <TD></TD>
    <TD valign="bottom">
    Consists of (i)&#160;2,500&#160;shares of Expedia common stock,
    (ii)&#160;options to purchase 232,137&#160;shares of Expedia
    common stock, (iii)&#160;9,999&#160;shares of Expedia common
    stock held by the Battle Family Foundation, as to which
    Mr.&#160;Battle disclaims beneficial ownership,
    (iv)&#160;5,067&#160;shares of Expedia common stock held by
    Mr.&#160;Battle&#146;s wife as custodian under CAUTMA for
    Catherine McNelley and (iv)&#160;2,827&#160;shares of Expedia
    common stock held by Mr.&#160;Battle&#146;s wife.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (8) </TD>
    <TD></TD>
    <TD valign="bottom">
    Consists of (i)&#160;12,179&#160;shares of Expedia common stock,
    (ii)&#160;warrants to purchase 17,710&#160;shares of Expedia
    common stock, (iii)&#160;options to purchase 30,354&#160;share
    of Expedia common stock exercisable as of December&#160;1, 2006
    and (iv)&#160;options to purchase 2,270&#160;shares of Expedia
    common stock exercisable within 60&#160;days of December&#160;1,
    2006.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (9) </TD>
    <TD></TD>
    <TD valign="bottom">
    Consists of (i)&#160;2,500&#160;shares of Expedia common stock,
    (ii)&#160;options to purchase 11,261&#160;shares of Expedia
    common stock and (iii)&#160;467&#160;shares of Expedia common
    stock held indirectly by a charitable trust, of which
    Mr.&#160;Dolgen is the trustee and as to which Mr.&#160;Dolgen
    disclaims beneficial ownership.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (10) </TD>
    <TD></TD>
    <TD valign="bottom">
    Excludes shares of Expedia common stock and Class&#160;B common
    stock owned by Liberty Media, as to which
    Messrs.&#160;Fitzgerald and Malone disclaim beneficial ownership.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (11) </TD>
    <TD></TD>
    <TD valign="bottom">
    Consists of (i)&#160;9,309&#160;shares of Expedia common stock,
    (ii)&#160;options to purchase 99,656&#160;shares of Expedia
    common stock and (iii)&#160;a warrant to purchase
    6,768&#160;shares of Expedia common stock.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (12) </TD>
    <TD></TD>
    <TD valign="bottom">
    Consists of (i)&#160;49,391,366&#160;shares of Expedia common
    stock, (ii)&#160;options to purchase 11,255,124&#160;shares of
    Expedia common stock, (iii)&#160;warrants to purchase
    24,478&#160;shares of Expedia common stock and
    (iv)&#160;25,599,998&#160;shares of Expedia Class&#160;B common
    stock.</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">
&nbsp;
</DIV>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Based on Expedia&#146;s records and information provided to
    Expedia by its directors, executive officers, associates and
    subsidiaries, neither Expedia, nor, to the best of
    Expedia&#146;s knowledge, any directors or executive officers of
    Expedia or any associates or subsidiaries of Expedia, has
    effected any transactions in shares during the
    60&#160;day-period before the date hereof, except that
    Mr.&#160;Battle has informed Expedia that he has made a gift of
    2,827&#160;shares to a charitable organization within the last
    60&#160;days. Such transfer is not reflected in the beneficial
    ownership table above.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Transactions and Arrangements Concerning Shares.
    <I>Warrants.</I></B> Expedia has fully vested stock warrants
    with expiration dates through February 2012 outstanding, certain
    of which trade on the Nasdaq under the symbols &#147;EXPEW&#148;
    and &#147;EXPEZ.&#148; Each stock warrant is exercisable for a
    certain number of shares of our common stock or a fraction
    thereof. As of December&#160;1, 2006, we had approximately
    58.5&#160;million warrants outstanding with a weighted average
    exercise price of $22.33, which if exercised in full would
    entitle holders to acquire 34.6&#160;million of our common
    shares. These warrants included:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="3%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;&#160;
</TD>
    <TD align="left">
    <I>EXPEW Warrants.</I>&#160;&#160;Each EXPEW warrant entitles
    its holder to purchase one half of one share of Expedia common
    stock at an exercise price equal to $15.61&#160;per warrant.
    Each EXPEW warrant may be exercised on any business day on or
    prior to February&#160;4, 2009. The warrants trade on Nasdaq
    under the symbol &#147;EXPEW.&#148; As of December&#160;1, 2006,
    there were 14.6&#160;million EXPEW warrants outstanding.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;&#160;
</TD>
    <TD align="left">
    <I>EXPEZ Warrants.</I>&#160;&#160;Each EXPEZ warrant entitles
    its holder to purchase 0.969375&#160;shares of Expedia common
    stock at an exercise price equal to $11.56&#160;per warrant. The
    exercise price must be paid in cash. Each EXPEZ warrant may be
    exercised on any business day on or prior to February&#160;4,
    2009. These warrants
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    22
</DIV><!-- END LOGICAL PAGE -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="3%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    trade on Nasdaq under the symbol &#147;EXPEZ.&#148; As of
    December&#160;1, 2006, there were 11.4&#160;million EXPEZ
    warrants outstanding.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="3%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;&#160;
</TD>
    <TD align="left">
    <I>VUE Warrants.</I>&#160;&#160;Each Tranche&#160;1 and Tranche
    2 VUE warrant entitles its holder to purchase one half of a
    share of Expedia common stock at an average exercise price of
    $25.56. The exercise price must be paid in cash. Each VUE
    warrant may be exercised on any business day on or prior to
    May&#160;7, 2012. As of December&#160;1, 2006, there were
    32.2&#160;million VUE warrants outstanding.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;&#160;
</TD>
    <TD align="left">
    <I>Integrated Warrants.</I>&#160;&#160;Pursuant to the
    separation agreement (the &#147;separation agreement&#148;)
    entered into with IAC/InterActiveCorp (&#147;IAC&#148;), Expedia
    has issued into an escrow account a number of shares of Expedia
    common stock sufficient to satisfy the obligation for future
    delivery of Expedia common stock to the holders of warrants
    initially assumed or issued by IAC prior to the spin-off of
    Expedia from IAC in August 2005 (the &#147;spin-off&#148;) who
    elect to exercise them. Under the terms of the escrow agreement,
    any such shares of Expedia common stock that are not delivered
    to exercising warrant holders will be returned to Expedia upon
    the expiration of the warrants in accordance with their terms.
    As of December&#160;1, 2006, Expedia was obligated to deliver up
    to 42,669&#160;shares of Expedia common stock to IAC pursuant to
    the separation agreement and the escrow agreement in connection
    with the exercise of these warrants for an average exercise
    price per share equal to $21.43. The expiration dates of these
    warrants range from November&#160;7, 2009 to May&#160;19, 2010.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I>Obligations Relating to the Ask Jeeves
    Notes.</I></B>&#160;&#160;Under the separation agreement,
    Expedia contractually assumed IAC&#146;s obligation to deliver
    Expedia common stock to the holders (upon conversion) of certain
    Ask Jeeves, Inc. Zero Coupon Convertible Notes Due June&#160;1,
    2008 assumed by IAC in connection with the acquisition of Ask
    Jeeves, Inc. Upon notice of conversion, Expedia is obligated to
    deliver shares of Expedia common stock to IAC for delivery to
    the holders of Ask Jeeves Notes, or deliver cash in equal value
    in lieu of issuing such shares. If Expedia elects to issue cash
    rather than shares, the holder may revoke its notice of
    conversion. Pursuant to an escrow agreement entered into with
    The Bank of New York, Expedia has deposited into an escrow
    account a number of its shares of common stock sufficient to
    satisfy its obligations for future delivery of Expedia shares.
    Any such shares of Expedia common stock placed in escrow that
    are not delivered to converting holders of notes will be
    returned to Expedia at the maturity of the notes. As of
    December&#160;1, 2006, Expedia could be required to deliver up
    to 800,000&#160;shares of common stock pursuant to the
    separation agreement and the escrow agreement in connection with
    the conversion of these notes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I>Tax Sharing Agreement.</I></B>&#160;&#160;IAC and Expedia
    entered into a tax sharing agreement in connection with the
    spin-off. The tax sharing agreement governs IAC&#146;s and
    Expedia&#146;s respective rights, responsibilities and
    obligations after the spin-off with respect to taxes for the
    periods ending on or before the spin-off. Under the tax sharing
    agreement Expedia generally&#160;(i) may not take (or fail to
    take) any action that would cause any representations,
    information or covenants in the separation documents concerning
    the spin-off or documents relating to the tax opinion concerning
    the spin-off to be untrue, (ii) may not take (or fail to take)
    any action that would cause the spin-off to lose its tax free
    status, (iii)&#160;may not sell, issue, redeem or otherwise
    acquire any of its equity securities (or equity securities of
    members of its group), except in specified transactions (not
    including the purchase of shares pursuant to the tender offer),
    for a period of 25&#160;months following the spin-off and (iv)
    may not, other than in the ordinary course of business, sell or
    otherwise dispose of a substantial portion of its assets,
    liquidate, merge or consolidate with any other person for a
    period of 25&#160;months following the spin-off. During that
    period, Expedia may take some actions prohibited by these
    covenants if it provides IAC with an Internal Revenue Service
    ruling or an unqualified opinion of counsel to the effect that
    these actions will not affect the tax free nature of the
    spin-off, in each case satisfactory to IAC in its sole and
    absolute discretion (such an opinion of counsel satisfactory to
    IAC, a &#147;Required Opinion&#148;). Notwithstanding the
    receipt of any such Internal Revenue Service ruling or opinion,
    Expedia must indemnify IAC for any taxes and related losses
    resulting from&#160;(i) any act or failure to act described in
    the covenants above, (ii) any acquisition of equity securities
    or assets of Expedia or any member of its group, and&#160;(iii)
    any breach by Expedia or any member of its group of
    representations in the separation documents between IAC and
    Expedia or the documents relating to the tax opinion concerning
    the spin-off. Expedia&#146;s obligation to accept for payment,
    and pay for, shares tendered pursuant to the tender offer is
    conditioned on its receipt of a Required Opinion in respect of
    the purchase of shares pursuant to the tender offer.  <I>See
    Section&#160;7.</I>
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    23
</DIV><!-- END LOGICAL PAGE -->
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    <B><I>Stockholders&#146; Agreement.</I></B>&#160;&#160;Subject
    to the terms of a Stockholders Agreement between Mr.&#160;Diller
    and Liberty Media, Mr.&#160;Diller holds an irrevocable proxy to
    vote shares of Expedia common stock and Class&#160;B common
    stock beneficially owned by Liberty Media. By virtue of the
    proxy, as well as through shares owned by Mr.&#160;Diller
    directly, Mr.&#160;Diller is effectively able to control the
    outcome of all matters submitted to a vote or for the consent of
    Expedia&#146;s stockholders (other than with respect to the
    election by the holders of Expedia common stock of 25% of the
    members of Expedia&#146;s Board of Directors and matters as to
    which Delaware law requires a separate class vote).
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In addition, until the later of (1)&#160;the date
    Mr.&#160;Diller no longer serves as Chairman of Expedia and
    (2)&#160;the date Mr.&#160;Diller no longer holds the proxy to
    vote&#160;Liberty Media&#146;s shares of Expedia described above
    (or upon Mr.&#160;Diller becoming disabled, if that occurs
    first), and subject to the other provisions of the Stockholders
    Agreement, neither Liberty Media nor Mr.&#160;Diller can
    transfer shares of common stock or Class&#160;B common stock,
    other than:
</DIV>
<DIV style="margin-top: 6pt; font-size: 1pt">
&nbsp;
</DIV>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="3%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;&#160;
</TD>
    <TD align="left">
    transfers by Mr.&#160;Diller to pay taxes relating to the
    granting, vesting
    <FONT style="white-space: nowrap">and/or</FONT>
    exercise of stock options to purchase common stock of Expedia;
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;&#160;
</TD>
    <TD align="left">
    transfers to each party&#146;s respective affiliates;
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;&#160;
</TD>
    <TD align="left">
    pledges relating to financings, subject to certain
    conditions;&#160;and
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;&#160;
</TD>
    <TD align="left">
    transfers of options or common stock in connection with
    &#147;cashless exercises&#148; of Mr.&#160;Diller&#146;s options
    to purchase shares of common stock.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The restrictions on transfer are subject to a number of
    exceptions (which exceptions are generally subject to the rights
    of first refusal described below):
</DIV>
<DIV style="margin-top: 6pt; font-size: 1pt">
&nbsp;
</DIV>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="3%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;&#160;
</TD>
    <TD align="left">
    either of Liberty Media or Mr.&#160;Diller may transfer shares
    of common stock or Class&#160;B common stock to an unaffiliated
    third party, subject to tag-along rights described below;
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;&#160;
</TD>
    <TD align="left">
    either of Liberty Media or Mr.&#160;Diller may transfer shares
    of common stock or Class&#160;B common stock so long as, in the
    case of Mr.&#160;Diller, he continues to beneficially own at
    least 2,200,000&#160;shares of common stock and Class&#160;B
    common stock (including stock options) and, in the case of
    Liberty Media, Liberty Media continues to beneficially own
    2,000,000&#160;shares of common stock and Class&#160;B common
    stock, and in the case of a transfer of an interest in, or of
    any of the shares of common stock or Class&#160;B common stock
    held by, specified entities referred to as the &#147;BDTV
    Limited Entities,&#148; after such transfer, Liberty Media and
    Mr.&#160;Diller collectively control at least 50.1% of the total
    voting power of Expedia;&#160;and
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;&#160;
</TD>
    <TD align="left">
    either of Liberty Media or Mr.&#160;Diller may transfer shares
    of common stock or Class&#160;B common stock so long as the
    transfer complies with the requirements of Rule&#160;144 or
    Rule&#160;145 under the Securities Act, and, in the case of a
    transfer of an interest in, or of any of the shares of common
    stock or Class&#160;B common stock held by, the BDTV Limited
    Entities, after such transfer, Liberty Media and Mr.&#160;Diller
    collectively control at least 50.1% of the total voting power of
    Expedia.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Each of Mr.&#160;Diller and Liberty Media will be entitled to a
    right to &#147;tag-along&#148; (i.e., participate on a pro rata
    basis) on sales by the other of shares of common stock or
    Class&#160;B common stock to any third party. Liberty Media will
    not have a tag-along right in the event of:
</DIV>
<DIV style="margin-top: 6pt; font-size: 1pt">
&nbsp;
</DIV>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="3%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;&#160;
</TD>
    <TD align="left">
    sales by Mr.&#160;Diller of up to 2,000,000&#160;shares of
    common stock or Class&#160;B common stock within any rolling
    twelve-month period;
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;&#160;
</TD>
    <TD align="left">
    transfers by Mr.&#160;Diller to pay taxes relating to the
    granting, vesting
    <FONT style="white-space: nowrap">and/or</FONT>
    exercise of stock options to purchase shares of common stock or
    transfers in connection with &#147;cashless exercises&#148; of
    Mr.&#160;Diller&#146;s options to purchase shares of common
    stock;
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;&#160;
</TD>
    <TD align="left">
    specified &#147;brokers&#146; transactions,&#148; as defined
    under the Securities Act, referred to as &#147;market
    sales;&#148;&#160;or
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;&#160;
</TD>
    <TD align="left">
    generally, when Mr.&#160;Diller no longer serves as Chairman of
    Expedia.
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    24
</DIV><!-- END LOGICAL PAGE -->
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<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Mr.&#160;Diller will not have a tag-along right with respect to
    hedging transactions and stock lending transactions related
    thereto effected by Liberty Media, in each case meeting certain
    requirements, or market sales by Liberty Media.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Each of Mr.&#160;Diller and Liberty Media has a right of first
    refusal in the case of a proposed transfer by the other of
    shares of Class&#160;B common stock of Expedia to a third party.
    If either Liberty Media or Mr.&#160;Diller proposes to transfer
    shares of Class&#160;B common stock, the other will be entitled
    to swap any shares of common stock it or he owns for such shares
    of Class&#160;B common stock (subject to the rights of first
    refusal described above). To the extent there remain shares of
    Class&#160;B common stock that the selling stockholder would
    otherwise transfer to a third party, such shares must first be
    converted into shares of common stock. This restriction does not
    apply to, among other specified transfers, transfers among the
    parties and their affiliates.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In connection with the spin-off, Mr.&#160;Diller and Liberty
    Media agreed that the BDTV entities would hold shares of common
    stock and Class&#160;B common stock received by each BDTV entity
    as a result of the spin-off. Mr.&#160;Diller and Liberty Media
    will continue to have substantially similar arrangements with
    respect to the voting control and ownership of the equity of
    each BDTV entity, which together hold a substantial majority of
    the shares of Class&#160;B common stock. These arrangements
    effectively provide that Mr.&#160;Diller controls the voting of
    Expedia securities held by these entities, other than with
    respect to certain actions by Expedia, and Liberty Media retains
    substantially all of the equity interest in such entities.
    Liberty Media may purchase Mr.&#160;Diller&#146;s nominal equity
    interest in these entities for a fixed price.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Mr.&#160;Diller&#146;s and Liberty Media&#146;s rights and
    obligations under the Stockholders Agreement generally terminate
    at such time as, in the case of Mr.&#160;Diller, he no longer
    beneficially owns at least 2,200,000&#160;shares of common stock
    and Class&#160;B common stock (including stock options) and, in
    the case of Liberty Media, Liberty Media no longer beneficially
    owns at least 2,000,000&#160;shares of common stock and
    Class&#160;B common stock. Liberty Media&#146;s tag-along rights
    and obligations terminate at such time as Liberty Media ceases
    to beneficially own at least 5% of the total equity securities
    of Expedia. In calculating Liberty Media&#146;s beneficial
    ownership of shares of common stock and shares of Class&#160;B
    common stock of Expedia, Liberty Media will be deemed to own all
    shares of common stock and Class&#160;B common stock held by the
    BDTV Entities. In addition, Mr.&#160;Diller&#146;s rights under
    the Stockholders Agreement will terminate upon the later of
    (1)&#160;the date Mr.&#160;Diller ceases to serve as Chairman of
    Expedia or becomes disabled and (2)&#160;the date
    Mr.&#160;Diller no longer holds a proxy to vote the shares of
    Expedia owned by Liberty Media.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I>Governance Agreement.</I></B>&#160;&#160;Liberty Media,
    Expedia and Mr.&#160;Diller are parties to a Governance
    Agreement pursuant to which, among other things:
</DIV>
<DIV style="margin-top: 6pt; font-size: 1pt">
&nbsp;
</DIV>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="3%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;&#160;
</TD>
    <TD align="left">
    Liberty Media has the right to nominate up to two directors of
    Expedia so long as Liberty Media beneficially owns at least
    33,651,963 equity securities of Expedia (and so long as Liberty
    Media&#146;s ownership percentage is at least equal to 15% of
    the total equity securities of Expedia);&#160;and
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;&#160;
</TD>
    <TD align="left">
    Liberty Media has the right to nominate one director of Expedia
    so long as Liberty Media beneficially owns at least 22,434,642
    equity securities of Expedia (and so long as Liberty Media owns
    at least 5% of the total equity securities of Expedia).
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    For so long as certain conditions relating, among other things,
    to ownership are met, Expedia has agreed that, without the prior
    approval of Liberty Media
    <FONT style="white-space: nowrap">and/or</FONT>
    Mr.&#160;Diller, as applicable, it will not engage in any
    transaction that would result in Liberty Media or
    Mr.&#160;Diller having to divest any part of their interests in
    Expedia or any other material assets, or that would render any
    such ownership illegal or would subject Mr.&#160;Diller or
    Liberty Media to any fines, penalties or material additional
    restrictions or limitations. In addition, for so long as the
    above conditions apply, and if Expedia&#146;s &#147;total debt
    ratio&#148; equals or exceeds 4:1 over a twelve-month period,
    Expedia may not take certain specified actions without the prior
    approval of Liberty Media
    <FONT style="white-space: nowrap">and/or</FONT>
    Mr.&#160;Diller. These actions include making material
    amendments to the certificate of incorporation or bylaws of
    Expedia, adopting any stockholder rights plan that would
    adversely affect Liberty Media or Mr.&#160;Diller, as
    applicable, and granting additional consent rights to a
    stockholder of Expedia.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In the event that Expedia issues or proposes to issue any shares
    of common stock or Class&#160;B common stock (with certain
    limited exceptions) including shares issued upon exercise,
    conversion or exchange of options,
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    25
</DIV><!-- END LOGICAL PAGE -->
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<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    warrants and convertible securities, Liberty Media will have
    preemptive rights that entitle it to purchase a number of common
    shares so that Liberty Media will maintain the identical
    ownership interest in Expedia (subject to certain adjustments)
    that Liberty Media had immediately prior to such issuance or
    proposed issuance (but not in excess of a specified percentage).
    Any purchase by Liberty Media will be allocated between common
    stock and Class&#160;B common stock in the same proportion as
    the issuance or issuances giving rise to the preemptive right,
    except to the extent that Liberty Media opts to acquire shares
    of common stock in lieu of shares of Class&#160;B common stock.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Liberty Media and Mr.&#160;Diller are entitled to customary,
    transferable registration rights with respect to common stock
    owned by them. Liberty Media is entitled to four demand
    registration rights and Mr.&#160;Diller is entitled to three
    demand registration rights. Expedia will pay the costs
    associated with such registrations (other than underwriting
    discounts, fees and commissions). Expedia will not be required
    to register shares of its common stock if a stockholder could
    sell the shares in the quantities proposed to be sold at such
    time in one transaction pursuant to Rule&#160;144 promulgated
    under the Securities Act or under another comparable exemption
    from registration.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Generally, the Governance Agreement will terminate:
</DIV>
<DIV style="margin-top: 6pt; font-size: 1pt">
&nbsp;
</DIV>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="3%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;&#160;
</TD>
    <TD align="left">
    with respect to Liberty Media, at such time that Liberty Media
    beneficially owns equity securities representing less than 5% of
    the total equity securities of Expedia;&#160;and
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;&#160;
</TD>
    <TD align="left">
    with respect to Mr.&#160;Diller, at the later of (1)&#160;the
    date Mr.&#160;Diller ceases to be the Chairman of Expedia or
    becomes disabled and (2)&#160;the date Mr.&#160;Diller no longer
    holds a proxy to vote the shares of Liberty Media (as described
    above).
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I>Indenture Governing Expedia, Inc.&#146;s
    7.456%&#160;Senior Notes due 2018 and Registration Rights
    Agreement.</I></B><I>&#160;&#160;Indenture Governing Expedia,
    Inc.&#146;s 7.456% Senior Notes due 2018</I>.&#160;&#160;In
    August 2006, Expedia privately placed $500&#160;million of
    senior unsecured notes due 2018 pursuant to an indenture entered
    into among The Bank of New York, as trustee, Expedia and its
    subsidiary guarantors from time to time party thereto. The notes
    bear a fixed rate interest of 7.456% with interest payable
    semi-annually in February and August of each year, beginning in
    February 2007. The notes are repayable in whole or in part on
    August&#160;15, 2013, at the option of the holder of such notes,
    at 100% of the principal amount plus accrued interest. Expedia
    may redeem the notes in accordance with the terms of the
    agreement, in whole or in part at any time at its option. The
    notes are senior unsecured obligations guaranteed by certain
    domestic Expedia subsidiaries and rank equally in right of
    payment with all of our existing and future unsecured and
    unsubordinated obligations. The notes include covenants that,
    among other things, limit Expedia&#146;s ability to
    (i)&#160;incur liens, (ii)&#160;enter into sale and leaseback
    transactions and (iii)&#160;merge, consolidate or sell
    substantially all of its assets.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Registration Rights Agreement.</I>&#160;&#160;Under a
    Registration Rights Agreement entered into among Expedia,
    certain subsidiary guarantors, J.P.&#160;Morgan Securities Inc.
    and Lehman Brothers Inc. (as representatives of the initial
    purchasers of the notes), Expedia and the subsidiary guarantors
    have agreed to use their commercially reasonable efforts
    (i)&#160;to cause to be filed as soon as practicable and in no
    event later than February&#160;17, 2007 a registration statement
    (and to cause such registration statement to be declared
    effective no later than May&#160;18, 2007)&#160;for an offer to
    exchange the notes for registered notes having the same
    financial terms and covenants as the privately placed notes or
    (ii)&#160;under certain circumstances, cause to be filed and
    declared effective a shelf registration statement for resale of
    the notes. In the event of a failure to cause the notes, or the
    exchange notes, to be registered in accordance with the
    Registration Rights Agreement, the interest rate on the notes
    would increase under certain circumstances.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I>Board Compensation Arrangements Involving Expedia
    Securities.</I></B>&#160;&#160;Each director of Expedia who is
    not an employee of Expedia or any of its businesses or
    affiliates or a Liberty Media nominee receives an annual
    retainer of $30,000. Expedia pays such qualifying directors
    $1,000 for each Board and each committee meeting attended. In
    addition, each qualifying director receives a grant of 7,500
    restricted stock units (or such lesser number of restricted
    stock units with a dollar value of $250,000) upon such
    director&#146;s initial election to office and annually
    thereafter on the date of Expedia&#146;s annual meeting of
    stockholders at which the director is re-elected. These
    restricted stock units vest in three equal annual installments
    commencing on the first anniversary of the grant date. The
    chairmen of the audit and compensation/benefits committees and
    each member of the audit committee receive an additional annual
    retainer of $10,000, and each member of the
    compensation/benefits committee receives an additional annual
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    26
</DIV><!-- END LOGICAL PAGE -->
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<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    retainer of $5,000. Expedia also reimburses directors for all
    reasonable expenses incurred by directors as a result of
    attendance at meetings.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Under Expedia&#146;s Non-Employee Director Deferred Compensation
    Plan, non-employee directors may defer all or a portion of their
    annual retainer and all of their meeting attendance fees.
    Eligible directors who defer their directors&#146; fees can
    elect to have such deferred fees (i)&#160;applied to the
    purchase of share units, representing the number of shares of
    Expedia common stock that could have been purchased on the
    relevant date, or (ii)&#160;credited to a cash fund. If any
    dividends are paid on Expedia common stock, dividend equivalents
    will be credited on the share units. The cash fund will be
    credited with deemed interest at an annual rate equal to the
    weighted-average prime or base lending rate of The Chase
    Manhattan Bank (or successor thereto). Upon termination, a
    director will receive (1)&#160;with respect to share units, such
    number of shares of Expedia common stock as the share units
    represent and (2)&#160;with respect to the cash fund, a cash
    payment. Payments upon termination will be made in either one
    lump sum or up to five installments, as elected by the eligible
    director at the time of the deferral election.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I>Officer and Employee Compensation Arrangements Involving
    Expedia Securities</I></B><I>.&#160;&#160;401(k)
    Plan.</I>&#160;&#160;Expedia maintains the Expedia Retirement
    Savings Plan, for which Fidelity Management Trust Company serves
    as trustee under a Trust&#160;Agreement, entered into as of
    August&#160;15, 2005, between a wholly-owned subsidiary of
    Expedia that serves as plan administrator and the trustee.
    Participating employees may contribute up to 16% of their
    eligible compensation, but not more than statutory limits.
    Expedia contributes a matching contribution each pay period
    equal to 50% of a participant&#146;s contributions up to a 6%
    contribution rate, and we may make additional annual profit
    sharing contributions. Matching contributions are invested
    proportionate to each participant&#146;s voluntary contributions
    in the investment options provided under the plan. Investment
    options in the plan include Expedia common stock, but neither
    the participant nor our matching contributions are required to
    be invested in Expedia common stock.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>2005 Stock and Annual Incentive
    Plan.</I>&#160;&#160;Expedia&#146;s 2005 Stock and Annual
    Incentive Plan provides for grants of restricted stock,
    restricted stock awards (&#147;RSA&#148;), restricted stock
    units (&#147;RSUs&#148;), stock options and other stock-based
    awards to directors, officers, employees and consultants
    pursuant to award agreements to be entered into from time to
    time with beneficiaries of the awards. Expedia issues new shares
    to satisfy the exercise or release of stock-based awards. RSUs,
    which are awards in the form of phantom shares or units that are
    denominated in a hypothetical equivalent number of shares of
    Expedia common stock, are Expedia&#146;s primary form of
    stock-based award. As of December&#160;1, 2006, Expedia had
    approximately 8.2&#160;million shares of common stock reserved
    for new stock-based awards under the 2005 Stock and Annual
    Incentive Plan. As of December&#160;1, 2006, Expedia had
    approximately 7.2&#160;million RSUs outstanding, 26,800 RSAs
    outstanding and 23.3&#160;million stock options outstanding.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Unless otherwise provided by the Compensation Committee of the
    Board of Directors in an award agreement (and with respect to
    such awards granted by IAC prior to the spin-off and converted
    into Expedia awards as part of the spin-off, only if provided in
    an applicable award agreement or in the IAC Long Term Incentive
    Plan under which such converted award was originally granted),
    in the event of a &#147;change in control&#148; of Expedia, in
    the case of officers of Expedia (and not the company&#146;s
    subsidiaries) who are Senior Vice Presidents and above as of the
    time of the change in control and, in the case of other
    employees of Expedia if provided by the Compensation Committee
    in an award agreement (i)&#160;any stock appreciation rights and
    stock options outstanding as of the date of the change in
    control which are not then exercisable and vested will become
    fully exercisable and vested, (ii)&#160;the restrictions and
    deferral limitations applicable to RSAs will lapse and the
    restricted stock underlying the awards will become free of all
    restrictions and fully vested, (iii)&#160;all RSUs will be
    considered to be earned and payable in full and any deferral or
    other restrictions will lapse and such RSUs will be settled in
    cash or shares of Expedia common stock as promptly as
    practicable and (iv)&#160;bonus awards may be paid out, in whole
    or in part, in the discretion of the Compensation Committee,
    notwithstanding whether performance goals have been achieved. In
    addition, in the event that, during the two-year period
    following a change in control, a plan participant&#146;s
    employment is terminated other than for cause or disability or a
    plan participant resigns for good reason, (i)&#160;any stock
    appreciation rights and stock options outstanding as of the date
    of the change in control will become fully exercisable and
    vested and will remain exercisable for the greater of
    (a)&#160;the period that they would remain exercisable absent
    the change in control provision and (b)&#160;the lesser of the
    expiration of the term of such stock appreciation right or stock
    option or one year following such termination of employment,
    (ii)&#160;the restrictions and deferral limitations applicable
    to RSAs will lapse and the restricted stock underlying the
    awards will become free of all restrictions and fully vested,
    and (iii)&#160;all
</DIV>

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    27
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    RSUs will be considered to be earned and payable in full and any
    deferral or other restrictions will lapse and such RSUs will be
    settled in cash or shares of Expedia common stock as promptly as
    practicable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Specific Agreements with Certain Executive Officers. Dara
    Khosrowshahi.</I>&#160;&#160;Prior to the spin-off, outstanding
    equity awards held by Mr.&#160;Khosrowshahi, Expedia&#146;s
    Chief Executive Officer, were amended to provide that in the
    event of his termination of employment without cause (including
    resignation by Mr.&#160;Khosrowshahi for &#147;good
    reason&#148;), all RSUs held by Mr.&#160;Khosrowshahi on the
    date of the spin-off will vest and all options that are vested
    on the date of termination will remain exercisable for a period
    of 24&#160;months from the date of termination or until the
    stated expiration date of the option, whichever is shorter.
    Immediately following the spin-off, Mr.&#160;Khosrowshahi held
    unvested RSUs under three awards, covering a total of
    249,958&#160;shares of Expedia common stock and options to
    purchase 548,796&#160;shares of Expedia common stock, of which
    477,920 were vested.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    On March&#160;7, 2006, the Compensation Committee and the
    Section&#160;16 Committee of the Board of Directors (together,
    the &#147;committees&#148;) approved the grant to
    Mr.&#160;Khosrowshahi of 800,000 RSUs that vest as follows: upon
    Expedia&#146;s achievement of (i)&#160;certain operating income
    before amortization targets approved by the committees and
    (ii)&#160;either achievement of a target increase in the price
    of the Expedia&#146;s common stock or the achievement of certain
    EBITA targets approved by the committees (the &#147;DK
    performance goals&#148;), 75% of the restricted stock unit grant
    will vest (the &#147;DK initial vesting&#148;). If
    Mr.&#160;Khosrowshahi has not voluntarily terminated his
    employment with Expedia or has not been terminated for cause on
    the first anniversary of the DK initial vesting, the remaining
    portion of the RSUs will vest. If Expedia terminates
    Mr.&#160;Khosrowshahi without cause in any year in which the
    operating income before amortization reaches the targets
    approved by the committees for that year, then 75% of the RSUs
    will vest upon such termination of employment, subject to
    Expedia&#146;s achievement of one of the DK performance goals,
    and the remaining RSUs will be forfeited. If there is a change
    in control of Expedia (as provided in the agreement), then 50%
    of the outstanding RSUs vest immediately, without regard to the
    operating income before amortization targets or performance
    goals. If within one year of the change in control,
    Mr.&#160;Khosrowshahi is terminated without cause or
    Mr.&#160;Khosrowshahi terminates employment following a
    modification of his duties and responsibilities, then the
    remaining RSUs will vest, without regard to the operating income
    before amortization targets or DK performance goals.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Michael B. Adler.</I>&#160;&#160;Expedia entered into an
    employment agreement and a Restricted Stock Unit Agreement with
    Michael B. Adler, Expedia&#146;s Executive Vice President and
    Chief Financial Officer. Mr.&#160;Adler was granted 84,832 RSUs
    (the &#147;first award&#148;) and 53,020 RSUs (the &#147;second
    award&#148;) pursuant to the Expedia 2005 Stock and Annual
    Incentive Plan. Material vesting terms are as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Both awards vest in equal increments over five years, contingent
    upon satisfaction of performance goals established by
    Expedia&#146;s Compensation Committee.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Contingent upon satisfaction of applicable performance goals,
    50% of the first award and that portion of the second award that
    would have vested during the twelve months following termination
    will vest upon a termination of employment by Expedia without
    cause or an employee termination of employment for good reason.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Both awards vest upon a change in control (as provided in the
    agreement).
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Burke F. Norton.</I>&#160;&#160;Expedia entered into an
    employment agreement and two Restricted Stock Unit Agreements
    with Burke F. Norton, Expedia&#146;s Executive Vice President,
    General Counsel and Secretary. Mr.&#160;Norton was granted
    62,235 RSUs (&#147;tranche vesting RSUs&#148;) and 31,117 RSUs
    (the &#147;cliff vesting RSUs&#148;) pursuant to the Expedia
    2005 Stock and Annual Incentive Plan. Material vesting terms are
    as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The tranche vesting RSUs vest in equal increments over four
    years, contingent upon satisfaction of applicable performance
    goals.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The cliff vesting RSUs vest in full after five years, contingent
    upon satisfaction of applicable performance goals.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Contingent upon satisfaction of applicable performance goals,
    upon a termination of employment by Expedia without cause or an
    employee termination of employment for good reason, (1)&#160;the
    tranche vesting
</TD>
</TR>

</TABLE>

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    <BR>
    28
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<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    RSUs that would have vested during the twelve months following
    termination and (2)&#160;a pro rata portion of the cliff vesting
    RSUs will immediately vest.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Pursuant to the terms of the RSU agreements both awards vest
    upon a change in control of Expedia (as provided in the
    agreements) provided that in specified change in control
    transactions the awards will vest only following a subsequent
    termination of employment by Expedia without cause or by
    Mr.&#160;Norton for good reason.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Except as otherwise described herein, neither Expedia nor, to
    the best of Expedia&#146;s knowledge, any of its affiliates,
    directors or executive officers is a party to any agreement,
    arrangement or understanding with any other person relating,
    directly or indirectly, to the tender offer or with respect to
    any securities of Expedia, including, but not limited to, any
    agreement, arrangement or understanding concerning the transfer
    or the voting of the securities of Expedia, joint ventures, loan
    or option arrangements, puts or calls, guarantees of loans,
    guarantees against loss, or the giving or withholding of
    proxies, consents or authorizations.
</DIV>
<A name='116'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">12.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Effects
    of the Tender Offer on the Market for Shares; Registration under
    the Exchange Act.</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The purchase by Expedia of shares under the tender offer will
    reduce the number of shares that might otherwise be traded
    publicly and may reduce the number of Expedia stockholders.
    These reductions may reduce the volume of trading in our shares
    and may result in lower stock prices and reduced liquidity in
    the trading of our shares following completion of the tender
    offer. As of December&#160;1, 2006, we had issued and
    outstanding 305,671,754&#160;shares of common stock. The
    30,000,000&#160;shares that we are offering to purchase pursuant
    to the tender offer represent approximately 9.8% of the shares
    of common stock outstanding as of that date. Stockholders may be
    able to sell non-tendered shares in the future on Nasdaq or
    otherwise, at a net price higher or lower than the purchase
    price in the tender offer. We can give no assurance, however, as
    to the price at which a stockholder may be able to sell such
    shares in the future.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Expedia anticipates that there will be a sufficient number of
    shares outstanding and publicly traded following completion of
    the tender offer to ensure a continued trading market for the
    shares. Based upon published guidelines of Nasdaq, Expedia does
    not believe that its purchase of shares under the tender offer
    will cause the remaining outstanding shares of Expedia common
    stock to be delisted from trading on Nasdaq.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The shares are currently &#147;margin securities&#148; under the
    rules of the Board of Governors of the Federal Reserve System.
    This classification has the effect, among other things, of
    allowing brokers to extend credit to their customers using the
    shares as collateral. Expedia believes that, following the
    purchase of shares under the tender offer, the shares remaining
    outstanding will continue to be margin securities for purposes
    of the Federal Reserve Board&#146;s margin rules and regulations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The shares are registered under the Exchange Act, which
    requires, among other things, that Expedia furnish certain
    information to its stockholders and the Securities and Exchange
    Commission and comply with the Securities and Exchange
    Commission&#146;s proxy rules in connection with meetings of the
    Expedia stockholders. Expedia believes that its purchase of
    shares under the tender offer will not result in the shares
    becoming eligible for deregistration under the Exchange Act.
</DIV>
<A name='117'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">13.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Legal
    Matters; Regulatory Approvals.</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Except as described above, Expedia is not aware of any license
    or regulatory permit that appears material to its business that
    might be adversely affected by its acquisition of shares as
    contemplated by the tender offer or of any approval or other
    action by any government or governmental, administrative or
    regulatory authority or agency, domestic, foreign or
    supranational, that would be required for the acquisition of
    shares by Expedia as contemplated
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    29
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<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    by the tender offer. Should any approval or other action be
    required, Expedia presently contemplates that it will seek that
    approval or other action. Expedia is unable to predict whether
    it will be required to delay the acceptance for payment of or
    payment for shares tendered under the tender offer pending the
    outcome of any such matter. There can be no assurance that any
    approval or other action, if needed, would be obtained or would
    be obtained without substantial cost or conditions or that the
    failure to obtain the approval or other action might not result
    in adverse consequences to its business and financial condition.
    The obligations of Expedia under the tender offer to accept for
    payment and pay for shares is subject to conditions. <I>See
    Section&#160;7.</I>
</DIV>
<A name='118'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">14.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">U.S.&#160;Federal
    Income Tax Consequences.</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following describes the material United States federal
    income tax consequences relevant to the tender offer. This
    discussion is based upon the Internal Revenue Code of 1986, as
    amended to the date hereof (the &#147;Code&#148;), existing and
    proposed Treasury Regulations, administrative pronouncements and
    judicial decisions, changes to which could materially affect the
    tax consequences described herein and could be made on a
    retroactive basis.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    This discussion deals only with stockholders who hold their
    shares as capital assets and does not deal with all tax
    consequences that may be relevant to all categories of holders
    (such as financial institutions, dealers in securities or
    commodities, traders in securities who elect to apply a
    <FONT style="white-space: nowrap">mark-to-market</FONT>
    method of accounting, insurance companies, tax-exempt
    organizations, former citizens or residents of the United States
    or persons who hold shares as part of a hedge, straddle,
    constructive sale or conversion transaction). In particular,
    different rules may apply to shares received through the
    exercise of employee stock options or otherwise as compensation.
    This discussion does not address the state, local or foreign tax
    consequences of participating in the tender offer. Holders of
    shares should consult their tax advisors as to the particular
    consequences to them of participation in the tender offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We have not sought, nor do we expect to seek, any ruling from
    the Internal Revenue Service with respect to the matters
    discussed below. There can be no assurances that the Internal
    Revenue Service will not take a different position concerning
    the tax consequences of the sale of shares to Expedia pursuant
    to the tender offer or that any such position would be sustained.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    As used herein, a &#147;Holder&#148; means a beneficial holder
    of shares that is a citizen or resident of the United States, a
    corporation or a partnership created or organized under the laws
    of the United States or any State thereof, a trust whose
    administration is subject to the primary supervision of a
    U.S.&#160;court and which has one or more U.S.&#160;persons who
    have the authority to make all substantial decisions, or an
    estate the income of which is subject to United States federal
    income taxation regardless of its source.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Holders of shares who are not United States holders
    (&#147;foreign stockholders&#148;) should consult their tax
    advisors regarding the United States federal income tax
    consequences and any applicable foreign tax consequences of the
    tender offer and should also see Section&#160;3 for a discussion
    of the applicable United States withholding rules and the
    potential for obtaining a refund of all or a portion of any tax
    withheld.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>We urge stockholders to consult their tax advisors to
    determine the particular tax consequences to them of
    participating in the tender offer.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Non-Participation in the Tender Offer.</I>&#160;&#160;Holders
    of shares who do not participate in the tender offer will not
    incur any tax liability as a result of the consummation of the
    tender offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Exchange of Shares&#160;Pursuant to the Tender
    Offer.</I>&#160;&#160;An exchange of shares for cash pursuant to
    the tender offer will be a taxable transaction for United States
    federal income tax purposes. A Holder who participates in the
    tender offer will, depending on such Holder&#146;s particular
    circumstances, be treated either as recognizing gain or loss
    from the disposition of the shares or as receiving a
    distribution from us with respect to our stock.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Under Section&#160;302 of the Code, a Holder will recognize gain
    or loss on an exchange of shares for cash if the exchange:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    results in a &#147;complete termination&#148; of all such
    Holder&#146;s equity interest in us,
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    results in a &#147;substantially disproportionate&#148;
    redemption with respect to such Holder,&#160;or
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    is &#147;not essentially equivalent to a dividend&#148; with
    respect to the Holder.
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    30
</DIV><!-- END LOGICAL PAGE -->
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In applying the Section&#160;302 tests, a Holder must take
    account of shares that such Holder constructively owns under
    attribution rules, pursuant to which the Holder will be treated
    as owning shares owned by certain family members (except that in
    the case of a &#147;complete termination&#148; a Holder may,
    under certain circumstances, waive attribution from family
    members) and related entities and shares that the Holder has the
    right to acquire by exercise of an option. An exchange of shares
    for cash will be a substantially disproportionate redemption
    with respect to a Holder if the percentage of the then
    outstanding shares owned by such Holder immediately after the
    exchange is less than 80% of the percentage of the shares owned
    by such Holder immediately before the exchange. If an exchange
    of shares for cash fails to satisfy the &#147;substantially
    disproportionate&#148; test, the Holder may nonetheless satisfy
    the &#147;not essentially equivalent to a dividend&#148; test.
    An exchange of shares for cash will satisfy the &#147;not
    essentially equivalent to a dividend&#148; test if it results in
    a &#147;meaningful reduction&#148; of the Holder&#146;s equity
    interest in us. An exchange of shares for cash that results in a
    relatively minor (e.g., approximately 3%) reduction of the
    proportionate equity interest in us of a Holder whose relative
    equity interest in us is minimal (an interest of less than one
    percent should satisfy this requirement) and who does not
    exercise any control over or participate in the management of
    our corporate affairs should be treated as &#147;not essentially
    equivalent to a dividend.&#148; Holders should consult their tax
    advisors regarding the application of the rules of
    Section&#160;302 in their particular circumstances.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If a Holder is treated as recognizing gain or loss from the
    disposition of the shares for cash, such gain or loss will be
    equal to the difference between the amount of cash received and
    such Holder&#146;s tax basis in the shares exchanged therefor.
    Any such gain or loss will be capital gain or loss and will be
    long-term capital gain or loss if the holding period of the
    shares exceeds one year as of the date of the exchange.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If a Holder is not treated under the Section&#160;302 tests as
    recognizing gain or loss on an exchange of shares for cash, the
    entire amount of cash received by such Holder pursuant to the
    exchange will be treated as a dividend to the extent of the
    Holder&#146;s allocable portion of our current or accumulated
    earnings and profits and then as a return of capital to the
    extent of the Holder&#146;s basis in the shares exchanged and
    thereafter as capital gain. Provided certain holding period
    requirements are satisfied, non-corporate Holders generally will
    be subject to U.S.&#160;federal income tax at a maximum rate of
    15% on amounts treated as dividends. Such a dividend will be
    taxed at a maximum rate of 15% in its entirety, without
    reduction for the tax basis of the shares exchanged. To the
    extent that a purchase of a Holder&#146;s shares by us in the
    tender offer is treated as the receipt by the Holder of a
    dividend, the Holder&#146;s remaining adjusted basis (reduced by
    the amount, if any, treated as a return of capital) in the
    purchased shares will be added to any shares retained by the
    Holder, subject, in the case of corporate stockholders, to
    reduction of basis or possible gain recognition under the
    &#147;extraordinary dividend&#148; provisions of the Code in an
    amount equal to the non-taxed portion of the dividend. To the
    extent that cash received in exchange for shares is treated as a
    dividend to a corporate Holder, (i)&#160;it will be eligible for
    a dividends-received deduction (subject to applicable
    limitations) and (ii)&#160;it will be subject to the
    &#147;extraordinary dividend&#148; provisions of the Code.
    Corporate Holders should consult their tax advisors concerning
    the availability of the dividends-received deduction and the
    application of the &#147;extraordinary dividend&#148; provisions
    of the Code in their particular circumstances.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We cannot predict whether or the extent to which the tender
    offer will be oversubscribed. If the tender offer is
    oversubscribed, proration of tenders pursuant to the tender
    offer will cause us to accept fewer shares than are tendered.
    Therefore, a Holder can be given no assurance that a sufficient
    number of such Holder&#146;s shares will be purchased pursuant
    to the tender offer to ensure that such purchase will be treated
    as a sale or exchange, rather than as a dividend, for federal
    income tax purposes pursuant to the rules discussed above.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    See Section&#160;3 with respect to the application of federal
    income tax withholding and back-up withholding.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>We have included the discussion set forth above for general
    information only. We urge stockholders to consult their tax
    advisor to determine the particular tax consequences to them of
    the tender offer, including the applicability and effect of
    state, local and foreign tax laws. </B>
</DIV>
<A name='119'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">15.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Extension
    of the Tender Offer; Termination; Amendment.</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Expedia expressly reserves the right, in its sole discretion, at
    any time and from time to time, and regardless of whether or not
    any of the events set forth in Section&#160;7 shall have
    occurred or shall be deemed by Expedia to have occurred, to
    extend the period of time during which the tender offer is open
    and thereby delay acceptance for payment of, and payment for,
    any shares by giving oral or written notice of the extension to
    the depositary and
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    31
</DIV><!-- END LOGICAL PAGE -->
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<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    making a public announcement of the extension. Expedia also
    expressly reserves the right, in its sole discretion, to
    terminate the tender offer and not accept for payment or pay for
    any shares not theretofore accepted for payment or paid for or,
    subject to applicable law, to postpone payment for shares upon
    the occurrence of any of the conditions specified in
    Section&#160;7 by giving oral or written notice of termination
    or postponement to the depositary and making a public
    announcement of termination or postponement. Expedia&#146;s
    reservation of the right to delay payment for shares that it has
    accepted for payment is limited by
    <FONT style="white-space: nowrap">Rule&#160;13e-4(f)(5)</FONT>
    promulgated under the Exchange Act, which requires that Expedia
    must pay the consideration offered or return the shares tendered
    promptly after termination or withdrawal of a tender offer.
    Subject to compliance with applicable law, Expedia further
    reserves the right, in its sole discretion, and regardless of
    whether any of the events set forth in Section&#160;7 shall have
    occurred or shall be deemed by Expedia to have occurred, to
    amend the tender offer in any respect, including, without
    limitation, by decreasing or increasing the consideration
    offered in the tender offer to holders of shares or by
    decreasing or increasing the number of shares being sought in
    the tender offer. Amendments to the tender offer may be made at
    any time and from time to time effected by public announcement,
    the announcement, in the case of an extension, to be issued no
    later than 9:00&#160;a.m., New York City time, on the next
    business day after the last previously scheduled or announced
    expiration date. Any public announcement made under the tender
    offer will be disseminated promptly to stockholders in a manner
    reasonably designed to inform stockholders of the change.
    Without limiting the manner in which Expedia may choose to make
    a public announcement, except as required by applicable law,
    Expedia shall have no obligation to publish, advertise or
    otherwise communicate any public announcement other than by
    making a release through PR Newswire.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If Expedia materially changes the terms of the tender offer or
    the information concerning the tender offer, Expedia will extend
    the tender offer to the extent required by
    <FONT style="white-space: nowrap">Rules&#160;13e-4(d)(2),</FONT>
    <FONT style="white-space: nowrap">13e-4(e)(3)</FONT>
    and
    <FONT style="white-space: nowrap">13e-4(f)(1)</FONT>
    promulgated under the Exchange Act. These rules and certain
    related releases and interpretations of the Securities and
    Exchange Commission provide that the minimum period during which
    a tender offer must remain open following material changes in
    the terms of the tender offer or information concerning the
    tender offer (other than a change in price or a change in
    percentage of securities sought) will depend on the facts and
    circumstances, including the relative materiality of the terms
    or information. If:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Expedia increases or decreases the price to be paid for shares
    or increases or decreases the number of shares being sought in
    the tender offer and, if an increase in the number of shares
    being sought, such increase exceeds 2% of the outstanding
    shares,&#160;and
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the tender offer is scheduled to expire at any time earlier than
    the expiration of a period ending on the tenth business day
    from, and including, the date that the notice of an increase or
    decrease is first published, sent or given to security holders
    in the manner specified in this Section&#160;15,
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    the tender offer will be extended until the expiration of such
    ten business day period.
</DIV>
<A name='120'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">16.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Fees and
    Expenses.</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Expedia has retained MacKenzie Partners, Inc. to act as
    information agent and The Bank of New York to act as depositary
    in connection with the tender offer. The information agent may
    contact holders of shares by mail, telephone, telegraph and in
    person, and may request brokers, dealers, commercial banks,
    trust companies and other nominee stockholders to forward
    materials relating to the tender offer to beneficial owners. The
    information agent and the depositary each will receive
    reasonable and customary compensation for their respective
    services, will be reimbursed by Expedia for specified reasonable
    <FONT style="white-space: nowrap">out-of-pocket</FONT>
    expenses, and will be indemnified against certain liabilities in
    connection with the tender offer, including certain liabilities
    under the U.S.&#160;federal securities laws.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In connection with the tender offer, Fidelity Management Trust
    Company, the trustee for the Expedia Retirement Savings Plan,
    may contact participants in the plan by mail, telephone, fax and
    personal interviews. The trustee for the plan receives
    reasonable and customary compensation for its services and is
    reimbursed for certain
    <FONT style="white-space: nowrap">out-of-pocket</FONT>
    expenses pursuant to arrangements with Expedia to act as trustee
    for the plan. Under those arrangements, no separate fee is
    payable to the trustee in connection with the tender offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    No fees or commissions will be payable by Expedia to brokers,
    dealers, commercial banks or trust companies (other than fees to
    the information agent as described above) for soliciting tenders
    of shares under the tender offer.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    32
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<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We urge stockholders holding shares through brokers or banks to
    consult the brokers or banks to determine whether transaction
    costs are applicable if stockholders tender shares through such
    brokers or banks and not directly to the depositary. Expedia,
    however, upon request, will reimburse brokers, dealers,
    commercial banks and trust companies for customary mailing and
    handling expenses incurred by them in forwarding the tender
    offer and related materials to the beneficial owners of shares
    held by them as a nominee or in a fiduciary capacity. No broker,
    dealer, commercial bank or trust company has been authorized to
    act as the agent of Expedia or the information agent for
    purposes of the tender offer. Expedia will pay or cause to be
    paid all stock transfer taxes, if any, on its purchase of
    shares, except as otherwise provided in this document and
    Instruction&#160;9 in the letter of transmittal.
</DIV>
<A name='121'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">17.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Miscellaneous.</FONT></B>
</TD>
</TR>

</TABLE>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Expedia is not aware of any jurisdiction where the making of the
    tender offer is not in compliance with applicable law. If
    Expedia becomes aware of any jurisdiction where the making of
    the tender offer or the acceptance of shares pursuant thereto is
    not in compliance with applicable law, Expedia will make a good
    faith effort to comply with the applicable law. If, after such
    good faith effort, Expedia cannot comply with the applicable
    law, Expedia will not make the tender offer to (nor will tenders
    be accepted from or on behalf of) the holders of shares in that
    jurisdiction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Pursuant to
    <FONT style="white-space: nowrap">Rule&#160;13e-4(c)(2)</FONT>
    under the Exchange Act, Expedia has filed with the Commission an
    Issuer Tender Offer Statement on Schedule&#160;TO, which
    contains additional information with respect to the tender
    offer. The Schedule&#160;TO, including the exhibits and any
    amendments and supplements thereto, may be examined, and copies
    may be obtained, at the same places and in the same manner as is
    set forth in Section&#160;10 with respect to information
    concerning Expedia.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Expedia has not authorized any person to make any
    recommendation on behalf of Expedia as to whether you should
    tender or refrain from tendering your shares in the tender
    offer. Expedia has not authorized any person to give any
    information or to make any representation in connection with the
    tender offer other than those contained in this offer to
    purchase or in the letter of transmittal. If anyone makes any
    recommendation or representation to you or gives you any
    information, you must not rely upon that recommendation,
    representation or information as having been authorized by
    Expedia.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    December&#160;11, 2006
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    33
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<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The letter of transmittal and share certificates and any other
    required documents should be sent or delivered by each
    stockholder or that stockholder&#146;s broker, dealer,
    commercial bank, trust company or nominee to the depositary at
    one of its addresses set forth below.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <I><FONT style="font-family: 'Times New Roman', Times">The
    depositary for the tender offer is:</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>THE BANK OF NEW YORK</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Telephone Assistance:
    <FONT style="white-space: nowrap">1-800-507-9357</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="34%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="32%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="32%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
    <I><FONT style="font-size: 10pt">By Mail:</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <I><FONT style="font-size: 10pt">By Hand:</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <I><FONT style="font-size: 10pt">By Overnight
    Delivery:</FONT></I>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">The Bank of New York<BR>
    Expedia Inc.<BR>
    P.O. Box 859208<BR>
    Braintree, MA 02185-9028
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">The Bank of New York<BR>
    Tender &#38; Exchange Dept.<BR>
    11W<BR>
    101 Barclay Street<BR>
    Receive &#38; Deliver Window<BR>
    Street Level<BR>
    New York, NY 10286
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">The Bank of New York<BR>
    Expedia Inc.<BR>
    161 Bay State Road<BR>
    Braintree, MA 02184
    </FONT>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>By Facsimile:</I>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>For Eligible Institutions Only</I>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (781) 380-3388
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Confirm Facsimile Receipt</I>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>by telephone:</I>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (781) 843-1833, Ext 200
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Please direct any questions or requests for assistance and any
    requests for additional copies of this offer to purchase, the
    letter of transmittal or the notice of guaranteed delivery to
    the information agent at the telephone number and address set
    forth below. Stockholders also may contact their broker, dealer,
    commercial bank, trust company or nominee for assistance
    concerning the tender offer. Please contact the depositary to
    confirm delivery of shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>The information agent for the tender offer is:</I>
</DIV>

<DIV align="center" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <IMG src="y27824mackenzi.jpg" alt="MACKENZIE LOGO" >
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    105 Madison Avenue<BR>
    New York, New York 10016<BR>
    <FONT style="white-space: nowrap">(212)&#160;929-5500</FONT>
    (call collect)<BR>
    <FONT style="white-space: nowrap">E-mail:</FONT>
    proxy@mackenziepartners.com<BR>
    or<BR>
    <B>Call Toll Free
    <FONT style="white-space: nowrap">(800)&#160;322-2885</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    34
</DIV><!-- END LOGICAL PAGE -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.A.1.B
<SEQUENCE>3
<FILENAME>y27824exv99waw1wb.htm
<DESCRIPTION>EX-99.A.1.B: LETTER OF TRANSMITTAL
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.A.1.B</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit
    (a)(1)(B)</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 16pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">LETTER OF
    TRANSMITTAL<BR>
    <FONT style="font-size: 14pt">To Tender Shares of Common Stock,
    Par Value $.001 Per Share<BR>
    of<BR>
    Expedia, Inc.<BR>
    Pursuant to the offer to purchase, dated December&#160;11,
    2006</FONT></FONT></B>
</DIV>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 12pt">THE TENDER OFFER, PRORATION
    PERIOD AND WITHDRAWAL RIGHTS WILL</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 12pt">EXPIRE AT 5:00&#160;P.M., NEW
    YORK CITY TIME, ON WEDNESDAY,</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 12pt">JANUARY&#160;10, 2007, UNLESS
    EXPEDIA EXTENDS THE TENDER OFFER.</FONT></B>
</DIV>
</DIV><!-- End box 1 -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>The depositary for the tender offer is:</I>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 12pt">THE BANK OF NEW YORK</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Telephone Assistance:
    <FONT style="white-space: nowrap">1-800-507-9357</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="34%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="31%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="31%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
    <I><FONT style="font-size: 10pt">By Mail:<BR>
    </FONT></I><FONT style="font-size: 10pt">The Bank of New York<BR>
    Expedia Inc.<BR>
    P.O. Box 859208<BR>
    Braintree, MA 02185-9028
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <I><FONT style="font-size: 10pt">By Hand:<BR>
    </FONT></I><FONT style="font-size: 10pt">The Bank of New York<BR>
    Tender&#160;&#38; Exchange Dept.<BR>
    11W<BR>
    101 Barclay Street<BR>
    Receive&#160;&#38; Deliver Window<BR>
    Street Level<BR>
    New York, NY 10286
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <I><FONT style="font-size: 10pt">By Overnight Delivery:<BR>
    </FONT></I><FONT style="font-size: 10pt">The Bank of New York<BR>
    Expedia Inc.<BR>
    161 Bay State Road<BR>
    Braintree, MA 02184
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="5" align="center" valign="top">
    <I><FONT style="font-size: 10pt">By Facsimile:<BR>
    For Eligible Institutions Only<BR>
    </FONT></I><FONT style="font-size: 10pt"><FONT style="white-space: nowrap">(781)&#160;380-3388</FONT>
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="5" align="center" valign="top">
    <I><FONT style="font-size: 10pt">Confirm Facsimile Receipt by
    telephone:<BR>
    </FONT></I><FONT style="font-size: 10pt"><FONT style="white-space: nowrap">(781)&#160;843-1833,</FONT>
    Ext 200
    </FONT>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="53%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterright -->
    <TD width="13%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutterright -->
    <TD width="14%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutterright -->
    <TD width="14%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="10" nowrap align="center" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt; border-left: 1px solid #000000; padding-left: 2pt; border-top: 1px solid #000000">
    <B><FONT style="font-size: 10pt">DESCRIPTION OF SHARES
    TENDERED</FONT></B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom" style="border-left: 1px solid #000000; padding-left: 2pt; border-top: 1px solid #000000">
    <B>Names(s) and Address(es) of Registered Holders(s)<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD colspan="7" nowrap align="center" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
    <B>Certificate(s) Tendered<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom" style="border-left: 1px solid #000000; padding-left: 2pt">
    <B>(Please fill in, if blank, exactly as name(s) appear(s) on
    certificate(s)) </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="7" nowrap align="center" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt">
    <B>(Attach and sign additional list if necessary)</B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom" style="border-left: 1px solid #000000; padding-left: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 1px solid #000000">
    <B>Number of Shares<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
    <B>Number of<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom" style="border-left: 1px solid #000000; padding-left: 2pt">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Certificate<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Represented by<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt">
    <B>Share(s)<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom" style="border-left: 1px solid #000000; padding-left: 2pt">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Number(s)* </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Certificate(s) </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt">
    <B>Tendered**</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top" style="border-left: 1px solid #000000; padding-left: 2pt">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top" style="border-left: 1px solid #000000; padding-left: 2pt">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top" style="border-left: 1px solid #000000; padding-left: 2pt">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD align="center" valign="bottom" style="border-top: 1px solid #000000">
    <B><FONT style="font-size: 10pt">Total Shares
    Tendered*</FONT></B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="10" valign="top" style="border-right: 1px solid #000000; padding-right: 2pt; border-left: 1px solid #000000; padding-left: 2pt; border-top: 1px solid #000000">
<DIV style="text-indent: -18pt; margin-left: 18pt">
    <FONT style="font-size: 9pt">***&#160;Indicate in this box the
    order (by certificate number) in which shares are to be
    purchased in event of proration (attach additional signed list
    if necessary): See Instruction&#160;7.
    </FONT>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="10" align="left" valign="top" style="border-right: 1px solid #000000; padding-right: 2pt; border-left: 1px solid #000000; padding-left: 2pt">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 9pt">1st:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2nd:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3rd:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;4th:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5th:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;6th:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    </FONT>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="10" valign="top" style="border-right: 1px solid #000000; padding-right: 2pt; border-left: 1px solid #000000; padding-left: 2pt; border-top: 1px solid #000000">
<DIV style="text-indent: -9pt; margin-left: 19pt">
    <FONT style="font-size: 9pt">*&#160;Need not complete if shares
    are delivered by book-entry transfer.
    </FONT>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="10" valign="top" style="border-right: 1px solid #000000; padding-right: 2pt; border-left: 1px solid #000000; padding-left: 2pt">
<DIV style="text-indent: -13pt; margin-left: 18pt">
    <FONT style="font-size: 9pt">**&#160;If you desire to tender
    fewer than all shares evidenced by any certificate(s) listed
    above, please indicate in this column the number of shares you
    wish to tender. Otherwise, all shares evidenced by such
    certificate(s) will be deemed to have been tendered. See
    Instruction&#160;4.
    </FONT>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="10" valign="top" style="border-right: 1px solid #000000; padding-right: 2pt; border-left: 1px solid #000000; padding-left: 2pt">
<DIV style="text-indent: -18pt; margin-left: 18pt">
    <FONT style="font-size: 9pt">***&#160;If you do not designate an
    order and Expedia purchases less than all shares tendered due to
    proration, the depositary will select the shares that Expedia
    will purchase. See Instruction&#160;7.
    </FONT>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Delivery of this letter of transmittal to an address other
    than one of those set forth above will <U>not</U> constitute a
    valid delivery. You must deliver this letter of transmittal to
    the depositary. Deliveries to Expedia, Inc.
    (&#147;Expedia&#148;) or MacKenzie Partners, Inc. (the
    information agent for the tender offer) will not be forwarded to
    the depositary and therefore will not constitute valid delivery
    to the depositary. Delivery of the letter of transmittal and any
    other required documents to the book-entry transfer facility
    will not constitute delivery to the depositary.</B>
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>YOU MAY <U>NOT</U> USE THIS LETTER OF TRANSMITTAL TO TENDER
    SHARES&#160;HELD IN THE EXPEDIA RETIREMENT SAVINGS PLAN.
    INSTEAD, YOU MUST USE THE SEPARATE TENDER
    INSTRUCTION&#160;FORMS&#160;SENT TO PARTICIPANTS IN THIS
    PLAN.</B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>You should use this letter of transmittal if you are causing
    the shares to be delivered by book-entry transfer to the
    depositary&#146;s account at the Depositary Trust Company
    (&#147;DTC,&#148; which is hereinafter referred to as the
    &#147;book-entry transfer facility&#148;) pursuant to the
    procedures set forth in Section&#160;3 of the offer to purchase.
    Only financial institutions that are participants in the
    book-entry transfer facility&#146;s system may make book-entry
    delivery of the shares.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 12pt">MacKenzie Partners,
    Inc.</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    105 Madison Avenue
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    New York, New York 10016
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT style="white-space: nowrap">(212)&#160;929-5500</FONT>
    (call collect)
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT style="white-space: nowrap">E-mail:</FONT>
    proxy@mackenziepartners.com
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    or
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Call Toll Free
    <FONT style="white-space: nowrap">(800)&#160;322-2885</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 6pt; border-right: 1px solid #000000; padding-right: 6pt; border-bottom: 1px solid #000000; padding-bottom: 6pt; border-left: 1px solid #000000; padding-left: 6pt"><!-- Begin box 1 -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 9pt">BEFORE COMPLETING THIS LETTER OF
    TRANSMITTAL, YOU SHOULD READ THIS LETTER OF TRANSMITTAL AND THE
    ACCOMPANYING INSTRUCTIONS&#160;CAREFULLY.</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    You should use this letter of transmittal only if (1)&#160;you
    are also enclosing certificates for the shares you desire to
    tender, or (2)&#160;you intend to deliver certificates for such
    shares under a notice of guaranteed delivery previously sent to
    the depositary, or (3)&#160;you are delivering shares through a
    book-entry transfer into the depositary&#146;s account at The
    Depositary Trust Company (i.e., the book-entry transfer
    facility) in accordance with Section&#160;3 of the offer to
    purchase.
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If you desire to tender shares in the tender offer, but you
    cannot deliver the certificates for your shares and all other
    required documents to the depositary by the expiration date (as
    set forth in the offer to purchase), or cannot comply with the
    procedures for book-entry transfer on a timely basis, then you
    may tender your shares according to the guaranteed delivery
    procedures set forth in Section&#160;3 of the offer to purchase.
    See Instruction&#160;2. Delivery of the letter of transmittal
    and any other required documents to the book-entry transfer
    facility does not constitute delivery to the depositary.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT style="font-size: 9pt"><FONT face="wingdings">o</FONT>&#160;
    </FONT></TD>
    <TD align="left">
    <B><FONT style="font-size: 9pt">Check here if you are delivering
    tendered shares pursuant to a notice of guaranteed delivery that
    you previously sent to the depositary and complete the
    following:</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="29%"></TD>
    <TD width="69%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT style="font-size: 9pt">Name(s) of Tendering
    Stockholder(s):&#160;
    </FONT>
</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 360%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=115 iwidth=339 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="40%"></TD>
    <TD width="58%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT style="font-size: 9pt">Date of Execution of Notice of
    Guaranteed Delivery:&#160;
    </FONT>
</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 360%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=115 iwidth=283 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="35%"></TD>
    <TD width="63%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT style="font-size: 9pt">Name of Institution that Guaranteed
    Delivery:&#160;
    </FONT>
</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 360%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=115 iwidth=309 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT style="font-size: 9pt"><FONT face="wingdings">o</FONT>&#160;
    </FONT>
</TD>
    <TD align="left">    <B><FONT style="font-size: 9pt">Check here if any certificates
    evidencing the shares you are tendering with this letter of
    transmittal have been lost, stolen, destroyed or mutilated. If
    you check this box, you must complete an affidavit of loss and
    return it with your letter of transmittal. You should call The
    Bank of New York, the transfer agent, at
    <FONT style="white-space: nowrap">1-800-507-9357</FONT>
    to get information about the requirements for replacement. You
    may be required to post a bond to secure against the risk that
    certificates may be subsequently recirculated. Please call The
    Bank of New York immediately to obtain an affidavit of loss, to
    receive further instructions on how to proceed, and to determine
    whether you will need to post a bond, so that the timely
    processing of this letter of transmittal will not be impeded.
    See Instruction&#160;16.</FONT></B>
</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT style="font-size: 9pt"><FONT face="wingdings">o</FONT>&#160;
    </FONT>
</TD>
    <TD align="left">    <B><FONT style="font-size: 9pt">Check here if you are a
    financial institution that is a participating institution in the
    book-entry transfer facility&#146;s system and you are
    delivering the tendered shares by book-entry transfer to an
    account maintained by the depositary at the book-entry transfer
    facility, and complete the following:</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="25%"></TD>
    <TD width="73%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT style="font-size: 9pt">Name(s) of Tendering
    Institution:&#160;
    </FONT>
</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 360%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=115 iwidth=355 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="14%"></TD>
    <TD width="84%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT style="font-size: 9pt">Account Number:&#160;
    </FONT>
</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 360%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=115 iwidth=413 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="20%"></TD>
    <TD width="78%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT style="font-size: 9pt">Transaction Code Number:&#160;
    </FONT>
</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 360%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=115 iwidth=379 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 2%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 9pt">NOTE: SIGNATURES MUST BE
    PROVIDED BELOW<BR>
    PLEASE READ THE ACCOMPANYING
    INSTRUCTIONS&#160;CAREFULLY</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 9pt">CHECK EXACTLY <I>ONE </I>BOX. IF
    YOU CHECK MORE THAN ONE BOX, OR IF YOU DO NOT CHECK ANY BOX, YOU
    WILL HAVE FAILED TO VALIDLY TENDER ANY SHARES.</FONT></B>
</DIV>
</DIV><!-- End box 1 -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">SHARES&#160;TENDERED
    AT PRICE DETERMINED PURSUANT TO THE TENDER OFFER<BR>
    (SEE INSTRUCTION&#160;5)</FONT></B>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT face="wingdings">o</FONT>&#160;
</TD>
    <TD align="left">
    The undersigned wants to maximize the chance of having Expedia
    purchase all shares the undersigned is tendering (subject to the
    possibility of proration). <B>Accordingly</B>, by checking this
    <B>ONE </B>box <B>INSTEAD OF ONE OF THE PRICE BOXES BELOW,
    </B>the undersigned hereby tenders shares and is willing to
    accept the purchase price determined by Expedia pursuant to the
    tender offer (the &#147;Purchase Price&#148;). This action could
    result in receiving a price per share as low as $<B>18.50.</B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>&#160;&#151;&#160;OR </B>&#160;&#151;
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>SHARES&#160;TENDERED AT PRICE DETERMINED BY STOCKHOLDER</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>(SEE INSTRUCTION&#160;5)</B>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    By checking <B>ONE </B>of the boxes below <B>INSTEAD OF THE BOX
    ABOVE, </B>the undersigned hereby tenders shares at the price
    checked. This action could result in none of the shares being
    purchased if the Purchase Price is less than the price checked
    below. <B>A stockholder who desires to tender shares at more
    than one price must complete a separate letter of transmittal
    for each price at which the stockholder tenders shares.</B> You
    cannot tender the same shares at more than one price, unless you
    have previously validly withdrawn those shares tendered at a
    different price in accordance with Section&#160;4 of the offer
    to purchase.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Price (in Dollars) Per Share at Which Shares&#160;Are Being
    Tendered</B>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="10%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="22%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="8%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="22%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="8%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="22%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="8%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <FONT style="font-size: 9pt"><FONT face="wingdings">o</FONT>
    $18.50
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 9pt"><FONT face="wingdings">o</FONT>
    $19.50
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 9pt"><FONT face="wingdings">o</FONT>
    $20.50
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 9pt"><FONT face="wingdings">o</FONT>
    $21.50
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <FONT style="font-size: 9pt"><FONT face="wingdings">o</FONT>
    $18.75
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 9pt"><FONT face="wingdings">o</FONT>
    $19.75
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 9pt"><FONT face="wingdings">o</FONT>
    $20.75
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 9pt"><FONT face="wingdings">o</FONT>
    $21.75
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <FONT style="font-size: 9pt"><FONT face="wingdings">o</FONT>
    $19.00
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 9pt"><FONT face="wingdings">o</FONT>
    $20.00
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 9pt"><FONT face="wingdings">o</FONT>
    $21.00
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 9pt"><FONT face="wingdings">o</FONT>
    $22.00
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <FONT style="font-size: 9pt"><FONT face="wingdings">o</FONT>
    $19.25
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 9pt"><FONT face="wingdings">o</FONT>
    $20.25
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 9pt"><FONT face="wingdings">o</FONT>
    $21.25
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>You WILL NOT have validly tendered your shares</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>unless you check ONE AND ONLY ONE BOX IN THIS FRAME.</B>
</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>ODD LOTS</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>(See Instruction&#160;6)</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    To be completed <B>only </B>if shares are being tendered by or
    on behalf of a person owning, beneficially or of record, an
    aggregate of fewer than 100&#160;shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    On the date hereof, the undersigned either (check ONE box):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="wingdings">o</FONT>&#160;
</TD>
    <TD align="left">    is the beneficial or record owner of an aggregate of fewer than
    100&#160;shares and is tendering all of those shares,&#160;or
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="wingdings">o</FONT>&#160;
</TD>
    <TD align="left">    is a broker, dealer, commercial bank, trust company or other
    nominee that (i)&#160;is tendering, for the beneficial owner(s)
    thereof, shares with respect to which it is the record holder,
    and (ii)&#160;believes, based upon representations made to it by
    such beneficial owner(s), that each such person was the
    beneficial owner of an aggregate of fewer than 100&#160;shares
    and is tendering all of such shares.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>In addition, the undersigned is tendering shares (check ONE
    box):</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="wingdings">o</FONT>&#160;
</TD>
    <TD align="left">    at the Purchase Price, which will be determined by Expedia in
    accordance with the terms of the tender offer (persons checking
    this box should check the box under the heading
    &#147;Shares&#160;Tendered at Price Determined Pursuant to the
    Tender Offer&#148;);&#160;or
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="wingdings">o</FONT>&#160;
</TD>
    <TD align="left">    at the price per share indicated under the heading
    &#147;Shares&#160;Tendered at Price Determined by
    Stockholder.&#148;
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>CONDITIONAL TENDER</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>(See Instruction&#160;11)</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    &#160;&#160;&#160;&#160;&#160;A tendering stockholder may
    condition his or her tender of shares upon Expedia purchasing a
    specified minimum number of the shares tendered, as described in
    Section&#160;6 of the offer to purchase. Unless Expedia
    purchases at least the minimum number of shares you indicate
    below pursuant to the terms of the tender offer, Expedia will
    not purchase any of the shares tendered below. It is the
    tendering stockholder&#146;s responsibility to calculate that
    minimum number, and we urge each stockholder to consult his or
    her own tax advisor in doing so. Unless you check the box
    immediately below and specify, in the space provided, a minimum
    number of shares that Expedia must purchase from you if Expedia
    purchases any shares from you, Expedia will deem your tender
    unconditional.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="wingdings">o</FONT>&#160;</TD>
    <TD align="left">
    The minimum number of shares that Expedia must purchase from me
    if Expedia purchases any shares from me, is:
</TD>
</TR>

</TABLE>



<DIV align="left" style="margin-left: 2%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <U>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</U>
    shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    &#160;&#160;&#160;&#160;&#160;If, because of proration, Expedia
    will not purchase the minimum number of shares from you that you
    designate, Expedia may accept conditional tenders by random lot,
    if necessary. However, to be eligible for purchase by random
    lot, the tendering stockholder must have tendered all of his or
    her shares. To certify that you are tendering all of the shares
    you own, check the box below.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT face="wingdings">o</FONT>&#160;The tendered shares
    represent all shares held by the undersigned.
</DIV>
</DIV><!-- End box 1 -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


</DIV>
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>SPECIAL PAYMENT INSTRUCTIONS<BR>
    (See Instructions&#160;1 and 10)</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Complete this box <B>ONLY </B>if the check for the aggregate
    Purchase Price of shares purchased (less the amount of any
    federal income or backup withholding tax required to be
    withheld)
    <FONT style="white-space: nowrap">and/or</FONT>
    certificate for shares not tendered or not purchased are to be
    issued in the name of someone other than the undersigned, or if
    shares tendered hereby and delivered by book-entry transfer
    which are not purchased are to be returned by crediting them to
    an account at the book-entry transfer facility other than the
    account designated above.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    CHECK ONE OR BOTH BOXES AS APPROPRIATE:<BR>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT face="wingdings">o</FONT>&#160;<B><I>Issue Check
    to:</I></B>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT face="wingdings">o</FONT>&#160;<B><I>Issue Share
    Certificate to:</I></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    Name:</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=453 length=0 -->
</TD>
</TR>

</TABLE>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 8pt">(Please Print)</FONT></B>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    Address:</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=444 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 8pt">(Include Zip Code)</FONT></B>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 8pt">(Taxpayer Identification or
    Social Security Number)</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 8pt">(See Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9</FONT>
    Included Herewith)</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    CHECK and COMPLETE IF APPLICABLE:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="wingdings">o</FONT>&#160;</TD>
    <TD align="left">
    <I>Credit shares delivered by book-entry transfer and not
    purchased to the account set forth below:</I>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Account
    Number:</B>&#160;<U>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</U>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>
</DIV><!-- End box 1 -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


</DIV>
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>SPECIAL DELIVERY INSTRUCTIONS<BR>
    (See Instructions&#160;1 and 10)</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Complete this box <B>ONLY </B>if the check for the aggregate
    Purchase Price of shares purchased (less the amount of any
    federal income or backup withholding tax required to be
    withheld)
    <FONT style="white-space: nowrap">and/or</FONT>
    certificate for shares not tendered or not purchased are to be
    mailed to someone other than the undersigned or to the
    undersigned at an address other than that shown below the
    undersigned&#146;s signature(s).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    CHECK ONE OR BOTH BOXES AS APPROPRIATE:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT face="wingdings">o</FONT><B><I>&#160;Deliver Check
    to:</I></B>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT face="wingdings">o</FONT><B><I>&#160;Deliver Share
    Certificate to:</I></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    Name:</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=453 length=0 -->
</TD>
</TR>

</TABLE>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 8pt">(Please Print)</FONT></B>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    Address:</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=444 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: right; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: right; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: right; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 8pt">(Include Zip Code)</FONT></B>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 8pt">(Taxpayer Identification or
    Social Security Number)</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 8pt">(See Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9</FONT>
    Included Herewith)</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>
</DIV><!-- End box 1 -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Ladies and Gentlemen:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned hereby tenders to Expedia, Inc., a Delaware
    corporation (&#147;Expedia&#148;), the above-described shares of
    Expedia&#146;s common stock, par value $.001&#160;per share (the
    &#147;shares&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The tender of the shares is being made at the price per share
    indicated in this letter of transmittal, net to the seller in
    cash, without interest, on the terms and subject to the
    conditions set forth in this letter of transmittal and in
    Expedia&#146;s offer to purchase, dated December&#160;11, 2006,
    receipt of which is hereby acknowledged.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Subject to and effective upon acceptance for payment of, and
    payment for, shares tendered with this letter of transmittal in
    accordance with the terms of the tender offer, the undersigned
    hereby (1)&#160;sells, assigns and transfers to or upon the
    order of Expedia all right, title and interest in and to all of
    the shares tendered hereby which are so accepted and paid for;
    (2)&#160;orders the registration of any shares tendered by
    book-entry transfer that are purchased under the tender offer to
    or upon the order of Expedia; and (3)&#160;appoints the
    depositary as
    <FONT style="white-space: nowrap">attorney-in-fact</FONT>
    of the undersigned with respect to such shares, with the full
    knowledge that the depositary also acts as the agent of Expedia,
    with full power of substitution (such power of attorney being an
    irrevocable power coupled with an interest), to perform the
    following functions:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (a)&#160;deliver certificates for shares, or transfer ownership
    of such shares on the account books maintained by the book-entry
    transfer facility, together in either such case with all
    accompanying evidence of transfer and authenticity, to or upon
    the order of Expedia, upon receipt by the depositary, as the
    undersigned&#146;s agent, of the Purchase Price with respect to
    such shares;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (b)&#160;present certificates for such shares for cancellation
    and transfer on Expedia&#146;s books;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (c)&#160;receive all benefits and otherwise exercise all rights
    of beneficial ownership of such shares, subject to the next
    paragraph, all in accordance with the terms of the tender offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned understands that Expedia will, upon the terms
    and subject to the conditions of the tender offer, determine a
    single per share price, not greater than $22.00 nor less than
    $18.50 per share (the &#147;Purchase Price&#148;), which it will
    pay for shares validly tendered and not validly withdrawn
    pursuant to the tender offer, after taking into account the
    number of shares so tendered and the prices specified by
    tendering stockholders. The undersigned understands that Expedia
    will select the lowest purchase price that will allow it to
    purchase 30,000,000&#160;shares or, if a lesser number of shares
    is validly tendered and not validly withdrawn, all such shares
    that are validly tendered and not validly withdrawn. The
    undersigned further understands that Expedia reserves the right
    to purchase more than 30,000,000&#160;shares pursuant to the
    tender offer, subject to certain limitations and legal
    requirements as set forth in the tender offer. Expedia will
    purchase all shares validly tendered at or below the Purchase
    Price and not validly withdrawn, subject to the conditions of
    the tender offer and the &#147;odd lot&#148; priority, proration
    and conditional tender provisions described in the offer to
    purchase. The undersigned understands that all stockholders
    whose shares are purchased by Expedia will receive the same
    Purchase Price for each share purchased in the tender offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned hereby covenants, represents and warrants to
    Expedia that:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (a)&#160;the undersigned has a net long position in the shares
    at least equal to the number of shares being tendered within the
    meaning of
    <FONT style="white-space: nowrap">Rule&#160;14e-4</FONT>
    under the Securities Exchange Act of 1934, as amended (the
    &#147;Exchange Act&#148;), and is tendering the shares in
    compliance with
    <FONT style="white-space: nowrap">Rule&#160;14e-4</FONT>
    under the Exchange Act;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (b)&#160;has full power and authority to tender, sell, assign
    and transfer the shares tendered hereby;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (c)&#160;when and to the extent Expedia accepts the shares for
    purchase, Expedia will acquire good and marketable title to
    them, free and clear of all security interests, liens,
    restrictions, claims, charges, encumbrances, conditional sales
    agreements or other obligations relating to their sale or
    transfer, and the shares will not be subject to any adverse
    claims or rights;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (d)&#160;the undersigned will, upon request, execute and deliver
    any additional documents deemed by the depositary or Expedia to
    be necessary or desirable to complete the sale, assignment and
    transfer of the shares tendered hereby and accepted for
    purchase;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (e)&#160;the undersigned has read and agrees to all of the terms
    of the tender offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned understands that tendering of shares under any
    one of the procedures described in Section&#160;3 of the offer
    to purchase and in the Instructions to this letter of
    transmittal will constitute an agreement between the undersigned
    and Expedia upon the terms and subject to the conditions of the
    tender offer. The undersigned acknowledges that under no
    circumstances will Expedia pay interest on the Purchase Price.
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned recognizes that under certain circumstances set
    forth in the offer to purchase, Expedia may terminate or amend
    the tender offer; or may postpone the acceptance for payment of,
    or the payment for, shares tendered, or may accept for payment
    fewer than all of the shares tendered hereby. The undersigned
    understands that certificate(s) for any shares not tendered or
    not purchased will be returned to the undersigned at the address
    indicated above.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>The names and addresses of the registered holders should be
    printed, if they are not already printed above, exactly as they
    appear on the certificates representing shares tendered hereby.
    The certificate numbers, the number of shares represented by
    such certificates, and the number of shares that the undersigned
    wishes to tender, should be set forth in the appropriate boxes
    above.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Unless otherwise indicated under &#147;Special Payment
    Instructions,&#148; please issue the check for the aggregate
    Purchase Price of any shares purchased (less the amount of any
    federal income or backup withholding tax required to be
    withheld),
    <FONT style="white-space: nowrap">and/or</FONT>
    return any shares not tendered or not purchased, in the name(s)
    of the undersigned or, in the case of shares tendered by
    book-entry transfer, by credit to the account at the book-entry
    transfer facility designated above. Similarly, unless otherwise
    indicated under &#147;Special Delivery Instructions,&#148;
    please mail the check for the aggregate Purchase Price of any
    shares purchased (less the amount of any federal income or
    backup withholding tax required to be withheld), and any
    certificates for shares not tendered or not purchased (and
    accompanying documents, as appropriate) to the undersigned at
    the address shown below the undersigned&#146;s signature(s). In
    the event that both the &#147;Special Payment Instructions&#148;
    and the &#147;Special Delivery Instructions&#148; are completed,
    please issue the check for the aggregate Purchase Price of any
    shares purchased (less the amount of any federal income or
    backup withholding tax required to be withheld)
    <FONT style="white-space: nowrap">and/or</FONT>
    return any shares not tendered or not purchased in the name(s)
    of, and mail said check and any certificates to, the person(s)
    so indicated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned recognizes that Expedia has no obligation, under
    the Special Payment Instructions, to transfer any certificate
    for shares from the name of its registered holder, or to order
    the registration or transfer of shares tendered by book-entry
    transfer, if Expedia purchases none of the shares represented by
    such certificate or tendered by such book-entry transfer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    All authority conferred or agreed to be conferred in this letter
    of transmittal shall survive the death or incapacity of the
    undersigned and any obligations or duties of the undersigned
    under this letter of transmittal shall be binding upon the
    heirs, personal representatives, successors and assigns of the
    undersigned. Except as stated in the offer to purchase, this
    tender is irrevocable.
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">STOCKHOLDER(S)
    SIGN HERE<BR>
    (See Instructions&#160;1 and 8)<BR>
    (Please Complete Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9)</FONT></FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Must be signed by registered holder(s) exactly as name(s)
    appear(s) on share certificate(s) or on a security position
    listing or by person(s) authorized to become registered
    holder(s) by share certificates and documents transmitted
    herewith. If a signature is by an officer on behalf of a
    corporation or by an executor, administrator, trustee, guardian,
    <FONT style="white-space: nowrap">attorney-in-fact,</FONT>
    agent or other person acting in a fiduciary or representative
    capacity, please provide full title and see Instruction&#160;8.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=504 length=0 -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=504 length=0 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 8pt">Signature(s) of
    Stockholder(s)</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Dated:&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=128 iwidth=504 length=120 -->
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT style="white-space: nowrap">Name(s):&#160;</FONT></TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=464 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 7%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=504 length=0 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 8pt">Please Print</FONT></B>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="15%"></TD>
    <TD width="85%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    Capacity&#160;(full&#160;title):&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=427 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    Address:&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=466 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 7%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=504 length=0 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 8pt">Please Include Zip
    Code</FONT></B>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="25%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    (Area&#160;Code)&#160;Telephone&#160;Number:&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=377 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="15%"></TD>
    <TD width="85%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    Taxpayer&#160;Identification&#160;or<BR>
    Social&#160;Security&#160;No.:&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=425 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">GUARANTEE
    OF SIGNATURE(S)<BR>
    (If Required, See Instructions&#160;1 and 8)</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="17%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    Authorized&#160;Signature&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=418 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT style="white-space: nowrap">Name(s)&#160;</FONT></TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=467 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    Name&#160;of&#160;Firm&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=450 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    Address&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=469 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="11%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    Address&#160;Line&#160;2&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=445 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="21%"></TD>
    <TD width="79%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    (Area&#160;Code)&#160;Telephone&#160;No.&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=398 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Dated:&#160;&#160;<FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=128 iwidth=504 length=120 -->
</DIV>
</DIV><!-- End box 1 -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
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<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">INSTRUCTIONS&#160;TO
    LETTER OF TRANSMITTAL<BR>
    FORMING PART&#160;OF THE TERMS OF THE TENDER OFFER</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>If you participate in the Expedia Retirement Savings Plan,
    you must not use this letter of transmittal to direct the tender
    of the shares attributable to your account in one of this plan.
    Instead, you must use the separate &#147;tender instruction
    forms&#148; sent to participants in this plan. If you
    participate in the Expedia Retirement Savings Plan, you should
    read the separate &#147;tender instruction forms&#148; and
    related materials carefully.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    1.&#160;&#160;<B>Guarantee of Signatures.</B>&#160;&#160;Except
    as otherwise provided in this Instruction, all signatures on
    this letter of transmittal must be guaranteed by a financial
    institution that is a participant in the Securities Transfer
    Agents Medallion Program or a bank, broker, dealer, credit
    union, savings association or other entity which is an
    &#147;eligible guarantor institution&#148; as such term is
    defined in
    <FONT style="white-space: nowrap">Rule&#160;17Ad-15</FONT>
    under the Exchange Act (an &#147;Eligible Institution&#148;).
    Signatures on this letter of transmittal need not be guaranteed
    if either (a)&#160;this letter of transmittal is signed by the
    registered holder(s) of the shares (which term, for purposes of
    this letter of transmittal, shall include any participant in the
    book-entry transfer facility whose name appears on a security
    position listing as the owner of shares) tendered herewith and
    such holder(s) have not completed either the box entitled
    &#147;Special Payment Instructions&#148; or &#147;Special
    Delivery Instructions&#148; in this letter of transmittal; or
    (b)&#160;such shares are tendered for the account of an Eligible
    Institution. See Instruction&#160;8. You may also need to have
    any certificates you deliver endorsed or accompanied by a stock
    power, and the signatures on these documents may also need to be
    guaranteed. See Instruction&#160;8.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    2.&#160;&#160;<B>Delivery of Letter of Transmittal and
    Certificates; Guaranteed Delivery Procedures.</B>&#160;&#160;You
    should use this letter of transmittal only if you are
    (a)&#160;forwarding certificates with this letter of
    transmittal, (b)&#160;going to deliver certificates under a
    notice of guaranteed delivery previously sent to the depositary,
    or (c)&#160;causing the shares to be delivered by book-entry
    transfer pursuant to the procedures set forth in Section&#160;3
    of the offer to purchase. In order for you to validly tender
    shares, the depositary must receive certificates for all
    physically tendered shares, or a confirmation of a book-entry
    transfer of all shares delivered electronically into the
    depositary&#146;s account at the book-entry transfer facility,
    together in each case with a properly completed and duly
    executed letter of transmittal, or an Agent&#146;s Message in
    connection with book-entry transfer, and any other documents
    required by this letter of transmittal, at one of its addresses
    set forth in this letter of transmittal by the expiration date
    (as defined in the offer to purchase).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The term &#147;Agent&#146;s Message&#148; means a message
    transmitted by the book-entry transfer facility to, and received
    by, the depositary, which states that the book-entry transfer
    facility has received an express acknowledgment from the
    participant in the book-entry transfer facility tendering the
    shares, that the participant has received and agrees to be bound
    by the terms of the letter of transmittal, and that Expedia may
    enforce this agreement against the participant.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Guaranteed Delivery.</I>&#160;&#160;If you cannot deliver
    your shares and all other required documents to the depositary
    by the expiration date, or the procedure for book-entry transfer
    cannot be completed on a timely basis, you may tender your
    shares, pursuant to the guaranteed delivery procedure described
    in Section&#160;3 of the offer to purchase, by or through any
    Eligible Institution. To comply with the guaranteed delivery
    procedure, you must (1)&#160;properly complete and duly execute
    a notice of guaranteed delivery substantially in the form
    provided to you by Expedia, specifying the price at which you
    are tendering your shares, including (where required) a
    Signature Guarantee by an Eligible Institution in the form set
    forth in the notice of guaranteed delivery; (2)&#160;arrange for
    the depositary to receive the notice of guaranteed delivery by
    the expiration date; and (3)&#160;ensure that the depositary
    receives the certificates for all physically tendered shares or
    book-entry confirmation of electronic delivery of shares, as the
    case may be, together with a properly completed and duly
    executed letter of transmittal with any required signature
    guarantees or an Agent&#146;s Message, and all other documents
    required by this letter of transmittal, within three NASDAQ
    trading days after receipt by the depositary of such notice of
    guaranteed delivery, all as provided in Section&#160;3 of the
    offer to purchase.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The notice of guaranteed delivery may be delivered by hand,
    facsimile transmission or mail to the depositary and must
    include, if necessary, a guarantee by an eligible guarantor
    institution in the form set forth in such notice. For shares to
    be tendered validly under the guaranteed delivery procedure, the
    depositary must receive the notice of guaranteed delivery before
    the expiration date.
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>The method of delivery of all documents, including
    certificates for shares, is at the option and risk of the
    tendering stockholder. If you choose to deliver the documents by
    mail, we recommend that you use registered mail with return
    receipt requested, properly insured. In all cases, please allow
    sufficient time to assure delivery.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Except as specifically permitted by Section&#160;6 of the offer
    to purchase, Expedia will not accept any alternative,
    conditional or contingent tenders, nor will it purchase any
    fractional shares. By executing this letter of transmittal, you
    waive any right to receive any notice of the acceptance for
    payment of your tendered shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    3.&#160;&#160;<B>Inadequate Space.</B>&#160;&#160;If the space
    provided in the box captioned &#147;Description of
    Shares&#160;Tendered&#148; is inadequate, then you should list
    the certificate numbers, the number of shares represented by the
    certificate(s) and the number of shares tendered with respect to
    each certificate on a separate signed schedule attached to this
    letter of transmittal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    4.&#160;&#160;<B>Partial Tenders and Unpurchased
    Shares.</B>&#160;&#160;(<I>Not applicable to stockholders who
    tender by book-entry transfer.</I>) If you wish to tender (i.e.,
    offer to sell) fewer than all of the shares evidenced by any
    certificate(s) that you deliver to the depositary, fill in the
    number of shares that you wish to tender (i.e., offer for sale)
    in the column entitled &#147;Number of
    Shares&#160;Tendered.&#148; In this case, if Expedia purchases
    some but not all of the shares that you tender, Expedia will
    issue to you a new certificate for the unpurchased shares. The
    new certificate will be sent to the registered holder(s) as
    promptly as practicable after the expiration date. Unless you
    indicate otherwise, all shares represented by the certificate(s)
    listed and delivered to the depositary will be deemed to have
    been tendered. In the case of shares tendered by book-entry
    transfer at the book-entry transfer facility, any tendered but
    unpurchased shares will be credited to the appropriate account
    maintained by the tendering stockholder at the book-entry
    transfer facility. In each case, shares will be returned or
    credited without expense to the stockholder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    5.&#160;&#160;<B>Indication of Price at Which Shares are Being
    Tendered.</B>&#160;&#160;In order to validly tender your shares
    by this letter of transmittal, you must either
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    a.&#160;&#160;check the box under &#147;SHARES&#160;TENDERED AT
    PRICE DETERMINED PURSUANT TO THE TENDER OFFER&#148; in order to
    maximize the chance of having Expedia purchase all of the shares
    that you tender (subject to the possibility of proration); OR
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    b.&#160;&#160;check one of the boxes indicating the price per
    share at which you are tendering shares in the section entitled
    &#147;SHARES&#160;TENDERED AT PRICE DETERMINED BY
    STOCKHOLDER.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>YOU MUST CHECK ONE, AND ONLY ONE, BOX.</B>&#160;&#160;If you
    check more than one box or no boxes, then you will be deemed not
    to have validly tendered your shares. <B>If you wish to tender
    portions of your different share holdings at different prices,
    you must complete a separate letter of transmittal for each
    price at which you wish to tender each such portion of your
    share holdings.</B> You cannot tender the same shares at more
    than one price (unless, prior to tendering previously tendered
    shares at a new price, you validly withdrew those shares in
    accordance with Section&#160;4 of the offer to purchase).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    By checking the box under &#147;Shares&#160;Tendered at Price
    Determined Pursuant to the Tender Offer&#148; you agree to
    accept the Purchase Price resulting from the tender offer
    process, which may be as low as $18.50 and as high as $22.00 per
    share. By checking a box under &#147;Shares&#160;Tendered at
    Price Determined by Stockholder,&#148; you acknowledge that
    doing so could result in none of the shares you tender being
    purchased if the Purchase Price for the shares turns out to be
    less than the price you selected.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    6.&#160;&#160;<B>Odd Lots.</B>&#160;&#160;As described in
    Section&#160;1 of the offer to purchase, if Expedia purchases
    fewer than all shares properly tendered before the expiration
    date and not properly withdrawn, Expedia will first purchase all
    shares tendered by any stockholder who (a)&#160;owns,
    beneficially or of record, an aggregate of fewer than
    100&#160;shares, and (b)&#160;tenders all of his or her shares
    at or below the Purchase Price. You will only receive this
    preferential treatment if you own fewer than 100&#160;shares and
    tender ALL of the shares you own at or below the Purchase Price.
    Even if you otherwise qualify for &#147;odd lot&#148;
    preferential treatment, you will not receive such preference
    unless you complete the section entitled &#147;Odd Lots&#148; in
    this letter of transmittal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    7.&#160;&#160;<B>Order of Purchase in the Event of
    Proration.</B>&#160;&#160;As described in Section&#160;1 of the
    offer to purchase, stockholders may specify the order in which
    their shares are to be purchased in the event that, as a result
    of proration or otherwise, Expedia purchases some but not all of
    the tendered shares pursuant to the terms of the tender offer.
    The order of purchase may have an effect on the federal income
    tax treatment of any gain or loss on the shares that Expedia
    purchases. See Sections&#160;1, 6 and 14 of the offer to
    purchase.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    8.&#160;&#160;<B>Signatures on Letter of Transmittal, Stock
    Powers and Endorsements.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    a.&#160;&#160;<B>Exact Signatures.</B>&#160;&#160;If this letter
    of transmittal is signed by the registered holder(s) of the
    shares tendered hereby, the signature(s) must correspond exactly
    with the name(s) as written on the face of the certificate(s)
    without any change whatsoever.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    b.&#160;&#160;<B>Joint Holders.</B>&#160;&#160;If the shares are
    registered in the names of two or more persons, ALL such persons
    must sign this letter of transmittal.
</DIV>

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<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    c.&#160;&#160;<B>Different Names on
    Certificates.</B>&#160;&#160;If any tendered shares are
    registered in different names on several certificates, you must
    complete, sign and submit as many separate letters of
    transmittal as there are different registrations of certificates.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    d.&#160;&#160;<B>Endorsements.</B>&#160;&#160;If this letter of
    transmittal is signed by the registered holder(s) of the shares
    tendered hereby, no endorsements of certificate(s) representing
    such shares or separate stock powers are required unless payment
    of the Purchase Price is to be made, or the certificates for
    shares not tendered or tendered but not purchased are to be
    issued, to a person other than the registered holder(s).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Signature(s) on Any Such Certificate(s) or Stock Powers Must
    be Guaranteed by an Eligible Institution.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If this letter of transmittal is signed by a person other than
    the registered holder(s) of the shares tendered hereby, or if
    payment is to be made to a person other than the registered
    holder(s), the certificate(s) for the shares must be endorsed or
    accompanied by appropriate stock powers, in either case, signed
    exactly as the name(s) of the registered holder(s) appear(s) on
    the certificate(s) for such shares, and the signature(s) on such
    certificates or stock power(s) must be guaranteed by an Eligible
    Institution. See Instruction&#160;1.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If this letter of transmittal or any certificate or stock power
    is signed by a trustee, executor, administrator, guardian,
    <FONT style="white-space: nowrap">attorney-in-fact,</FONT>
    officer of a corporation or any other person acting in a
    fiduciary or representative capacity, such person should so
    indicate when signing and must submit to the depositary evidence
    satisfactory to Expedia that such person has authority so to act.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    9.&#160;&#160;<B>Stock Transfer Taxes.</B>&#160;&#160;Except as
    provided in this Instruction&#160;9, no stock transfer tax
    stamps or funds to cover such stamps need to accompany this
    letter of transmittal. Expedia will pay or cause to be paid any
    stock transfer taxes payable on the transfer to it of shares
    purchased under the tender offer. If, however:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    a.&#160;&#160;payment of the Purchase Price is to be made to any
    person other than the registered holder(s);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    b.&#160;&#160;certificate(s) for shares not tendered or tendered
    but not purchased are to be returned in the name of and to any
    person other than the registered holder(s) of such shares; OR
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    c.&#160;&#160;tendered certificates are registered in the name
    of any person(s) other than the person(s) signing this letter of
    transmittal,
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    then the depositary will deduct from the Purchase Price the
    amount of any stock transfer taxes (whether imposed on the
    registered holder(s), such other person(s) or otherwise) payable
    on account of the transfer of cash or stock thereby made to such
    person, unless satisfactory evidence of the payment of such
    taxes or an exemption from them is submitted with this letter of
    transmittal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    10.&#160;&#160;<B>Special Payment and Delivery
    Instructions.</B>&#160;&#160;If any of the following conditions
    holds:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    a.&#160;&#160;check(s) for the Purchase Price of any shares
    purchased pursuant to the tender offer are to be issued to a
    person other than the person(s) signing this letter of
    transmittal;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    b.&#160;&#160;check(s) for the Purchase Price are to be sent to
    any person other than the person signing this letter of
    transmittal, or to the person signing this letter of
    transmittal, but at a different address;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    c.&#160;&#160;certificates for any shares not tendered, or
    tendered but not purchased, are to be returned to and in the
    name of a person other than the person(s) signing this letter of
    transmittal, then, in each such case, you must complete the
    boxes captioned &#147;Special Payment Instructions&#148;
    <FONT style="white-space: nowrap">and/or</FONT>
    &#147;Special Delivery Instructions&#148; as applicable in this
    letter of transmittal and make sure that the signatures herein
    are guaranteed as described in Instructions&#160;1 and 8.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    11.&#160;&#160;<B>Conditional Tenders.</B>&#160;&#160;As
    described in Sections&#160;1 and 6 of the offer to purchase,
    stockholders may condition their tenders on Expedia purchasing
    all of their shares, or specify a minimum number of shares that
    Expedia must purchase for the tender of any of their shares to
    be effective. If you wish to make a conditional tender you must
    indicate this choice in the box entitled &#147;Conditional
    Tender&#148; in this letter of transmittal or, if applicable,
    the notice of guaranteed delivery; and you must calculate and
    appropriately indicate, in the space provided, the minimum
    number of shares that Expedia must purchase if Expedia purchases
    any shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    As discussed in Sections&#160;1 and 6 of the offer to purchase,
    proration may affect whether Expedia accepts conditional
    tenders. Proration may result in all of the shares tendered
    pursuant to a conditional tender being deemed to have been
    withdrawn, if Expedia could not purchase the minimum number of
    shares required to be purchased by the tendering stockholder due
    to proration. If, because of proration, Expedia will not
    purchase the minimum number of shares that you designate,
    Expedia may accept conditional tenders by random lot, if
    necessary. However, to be eligible for purchase by random lot,
    you must have tendered all of your shares and must have checked
    the box so indicating. Upon selection by random lot, if any,
    Expedia will limit its purchase in each case to the designated
    minimum number of shares.
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If you are an &#147;odd lot&#148; holder and you tender all of
    your shares, you cannot conditionally tender, since your shares
    will not be subject to proration.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    All tendered shares will be deemed unconditionally tendered
    unless the &#147;Conditional Tender&#148; box is checked and
    appropriately completed. When deciding whether to tender shares
    conditionally, we urge each stockholder to consult his or her
    own tax advisor.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    12.&#160;&#160;<B>Tax Identification Number and Backup
    Withholding.</B>&#160;&#160;Under the federal income tax laws,
    the depositary will be required to withhold 28% of the amount of
    any payments made to certain stockholders pursuant to the tender
    offer. In order to avoid such backup withholding, each tendering
    stockholder that is a U.S.&#160;person (including a
    U.S.&#160;resident alien) must provide the depositary with such
    stockholder&#146;s correct taxpayer identification number by
    completing the Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9</FONT>
    set forth below.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In general, if a stockholder is an individual, the taxpayer
    identification number is the social security number of such
    individual. If the depositary is not provided with the correct
    taxpayer identification number, the stockholder may be subject
    to a $50 penalty imposed by the Internal Revenue Service and
    payments that are made to such stockholder pursuant to the
    tender offer may be subject to backup withholding. Certain
    stockholders (including, among others, all corporations and
    certain foreign individuals) are not subject to these backup
    withholding and reporting requirements. In order to satisfy the
    depositary that a foreign individual qualifies as an exempt
    recipient, such stockholder must submit an IRS
    <FONT style="white-space: nowrap">Form&#160;W-8,</FONT>
    signed under penalties of perjury, attesting to that
    individual&#146;s exempt status. You can obtain such statements
    from the depositary.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    For further information concerning backup withholding and
    instructions for completing the Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9</FONT>
    (including how to obtain a taxpayer identification number if you
    do not have one and how to complete the Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9</FONT>
    if shares are held in more than one name), consult the enclosed
    Guidelines for Certification of Taxpayer Identification Number
    on Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9.</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Failure to complete the Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9</FONT>
    will not, by itself, cause shares to be deemed invalidly
    tendered, but may require the depositary to withhold 28% of the
    amount of any payments made pursuant to the tender offer. Backup
    withholding is not an additional federal income tax. Rather, the
    federal income tax liability of a person subject to backup
    withholding will be reduced by the amount of tax withheld. If
    withholding results in an overpayment of taxes, the taxpayer may
    obtain a refund, provided that the required information is
    furnished to the Internal Revenue Service.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>NOTE: FAILURE TO COMPLETE AND RETURN THE SUBSTITUTE
    <FONT style="white-space: nowrap">FORM&#160;W-9</FONT>
    MAY RESULT IN BACKUP WITHHOLDING OF 28% OF ANY PAYMENTS MADE TO
    YOU PURSUANT TO THE TENDER OFFER. PLEASE REVIEW THE ENCLOSED
    GUIDELINES FOR CERTIFICATION OF TAXPAYER IDENTIFICATION NUMBER
    ON SUBSTITUTE
    <FONT style="white-space: nowrap">FORM&#160;W-9</FONT>
    FOR ADDITIONAL DETAILS.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Unless Expedia determines that a reduced rate of withholding is
    applicable pursuant to a tax treaty or that an exemption from
    withholding is applicable because gross proceeds paid pursuant
    to the tender offer are effectively connected with the conduct
    of a trade or business within the United States, Expedia will be
    required to withhold federal income tax at a rate of 30% from
    such gross proceeds paid to a foreign stockholder or his agent.
    For this purpose, a foreign stockholder is any stockholder that
    is not (i)&#160;a citizen or resident of the United States,
    (ii)&#160;a corporation, partnership or other entity created or
    organized in or under the laws of the United States,
    (iii)&#160;a trust whose administration is subject to the
    primary supervision of a U.S.&#160;court and which has one or
    more U.S.&#160;persons who have the authority to make all
    substantial decisions, or (iv)&#160;an estate the income of
    which is subject to United States federal income taxation
    regardless of its source. A foreign stockholder may be eligible
    to file for a refund of such tax or a portion of such tax if
    such stockholder meets the &#147;complete redemption,&#148;
    &#147;substantially disproportionate&#148; or &#147;not
    essentially equivalent to a dividend&#148; tests described in
    the offer to purchase under the caption &#147;The Tender
    Offer&#160;&#151; 14. U.S.&#160;Federal Income Tax
    Consequences&#148; or if such stockholder is entitled to a
    reduced rate of withholding pursuant to a treaty and Expedia
    withheld at a higher rate.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In order to obtain a reduced rate of withholding under a tax
    treaty, a foreign stockholder must deliver to the depositary,
    before the payment, a properly completed and executed statement
    claiming such an exemption or reduction. A stockholder can
    obtain such statements from the depositary. In order to claim an
    exemption from withholding on the grounds that gross proceeds
    paid pursuant to the tender offer are effectively connected with
    the conduct of a trade or business within the United States, a
    foreign stockholder must deliver to the depositary a properly
    executed statement claiming exemption. A stockholder can obtain
    such statements from the depositary. We urge foreign
    stockholders to consult their own tax advisors regarding the
    application of federal income tax withholding, including
    eligibility for a withholding tax reduction or exemption and the
    refund procedure.
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    13.&#160;&#160;<B>Irregularities.</B>&#160;&#160;Expedia will
    determine in its sole discretion all questions as to the
    Purchase Price, the number of shares to accept, and the
    validity, eligibility (including time of receipt), and
    acceptance for payment of any tender of shares. Any such
    determinations will be final and binding on all parties. Expedia
    reserves the absolute right to reject any or all tenders of
    shares it determines not be in proper form or the acceptance of
    which or payment for which may, in the opinion of Expedia, be
    unlawful. Expedia also reserves the absolute right to waive any
    of the conditions of the tender offer and any defect or
    irregularity in the tender of any particular shares, and
    Expedia&#146;s interpretation of the terms of the tender offer,
    including these instructions, will be final and binding on all
    parties. No tender of shares will be deemed to be properly made
    until all defects and irregularities have been cured or waived.
    Unless waived, any defects or irregularities in connection with
    tenders must be cured within such time as Expedia shall
    determine. None of Expedia, the depositary, the information
    agent (as defined in the offer to purchase) or any other person
    is or will be obligated to give notice of any defects or
    irregularities in tenders and none of them will incur any
    liability for failure to give any such notice.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    14.&#160;&#160;<B>Questions; Requests for Assistance and
    Additional Copies.</B>&#160;&#160;Please direct any questions or
    requests for assistance or for additional copies of the offer to
    purchase, the letter of transmittal or the notice of guaranteed
    delivery to the information agent at the telephone number and
    address set forth below. You may also contact your broker,
    dealer, commercial bank or trust company for assistance
    concerning the tender offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    15.&#160;&#160;<B>Stock Option Plans.</B>&#160;&#160;If you hold
    vested options in Expedia&#146;s stock option plans, then you
    may exercise such vested options by paying the cash exercise
    price and receiving shares which you may then tender in
    accordance with the terms of the tender offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    16.&#160;&#160;<B>Lost, Stolen, Destroyed or Mutilated
    Certificates.</B>&#160;&#160;If any certificate representing any
    shares has been lost, stolen, destroyed or mutilated, you should
    notify The Bank of New York , the transfer agent for the shares,
    by calling
    <FONT style="white-space: nowrap">1-800-507-9357</FONT>
    and asking for instructions on obtaining replacement
    certificate(s) at the address specified on the cover of this
    letter of transmittal. The Bank of New York will require you to
    complete an affidavit of loss and return it to The Bank of New
    York. You will then be instructed by The Bank of New York as to
    the steps you must take in order to replace the certificate. You
    may be required to post a bond to secure against the risk that
    the original certificate may be subsequently recirculated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We cannot process this letter of transmittal and related
    documents until you have followed the procedures for replacing
    lost, stolen, destroyed or mutilated certificates. We urge you
    to contact the transfer agent, The Bank of New York,
    immediately, in order to receive further instructions, for a
    determination as to whether you will need to post a bond, and to
    permit timely processing of this documentation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Important: The depositary must receive this letter of
    transmittal (together with certificate(s) for shares or
    confirmation of book-entry transfer and all other required
    documents) or, if applicable, the notice of guaranteed delivery,
    before the expiration date.</B>
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>YOU MUST COMPLETE AND SIGN THE SUBSTITUTE
    <FONT style="white-space: nowrap">FORM&#160;W-9</FONT>
    BELOW. Please provide your social security number or other
    taxpayer identification number (&#147;TIN&#148;) and certify
    that you are not subject to backup withholding.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 6pt; border-right: 1px solid #000000; padding-right: 6pt; border-bottom: 1px solid #000000; padding-bottom: 6pt; border-left: 1px solid #000000; padding-left: 6pt"><!-- Begin box 1 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">SUBSTITUTE
    <FONT style="white-space: nowrap">FORM&#160;W-9</FONT><BR>
    Department of the Treasury Internal Revenue Service<BR>
    Payer&#146;s Request for TIN and Certification</FONT></B>
</DIV>

<DIV style="font-size: 6pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=504 length=0 -->

<DIV align="left" style="margin-left: 1%; margin-right: 1%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Name:
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 1%; margin-right: 1%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Please check the appropriate box indicating your status:
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="20%"></TD>
    <TD width="20%"></TD>
    <TD width="20%"></TD>
    <TD width="20%"></TD>
    <TD width="20%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">    <FONT style="font-family: 'Times New Roman', Times"><FONT face="wingdings">o</FONT>&#160;Individual/Sole
    proprietor
    </FONT></TD>
    <TD nowrap align="center">    <FONT style="font-family: 'Times New Roman', Times"><FONT face="wingdings">o</FONT>&#160;Corporation
    </FONT></TD>
    <TD nowrap align="center">    <FONT style="font-family: 'Times New Roman', Times"><FONT face="wingdings">o</FONT>&#160;Partnership
    </FONT></TD>
    <TD nowrap align="center">    <FONT style="font-family: 'Times New Roman', Times"><FONT face="wingdings">o</FONT>&#160;Other
    </FONT></TD>
    <TD nowrap align="right">    <FONT style="font-family: 'Times New Roman', Times"><FONT face="wingdings">o</FONT>&#160;Exempt
    from backup withholding
    </FONT></TD>
</TR>

</TABLE>

<DIV style="font-size: 6pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=504 length=0 -->

<DIV align="left" style="margin-left: 1%; margin-right: 1%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Address (number, street, and apt. or suite no.)
</DIV>

<DIV style="font-size: 18pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=504 length=0 -->

<DIV align="left" style="margin-left: 1%; margin-right: 1%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    City, State, and ZIP code
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=01 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=body -->
    <TD width="4%" align="left">&nbsp;</TD>	<!-- colindex=01 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="90%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B><FONT style="font-size: 10pt">Part&#160;I<BR>
    </FONT></B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
<DIV style="text-indent: -0pt; margin-left: 0pt;">
<B><FONT style="font-size: 8pt">Taxpayer Identification Number (&#147;TIN&#148;)</FONT></B><FONT style="font-size: 8pt"> <BR></FONT>
</DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="69%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="30%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    &nbsp;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="middle">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
    <B><FONT style="font-size: 10pt">PLEASE PROVIDE YOUR TIN ON THE
    APPROPRIATE LINE AT THE
    RIGHT.</FONT></B><FONT style="font-size: 10pt"> For most
    individuals, this is your social security number. If you do not
    have a number, see the enclosed Guidelines for Certification of
    Taxpayer Identification Number on Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9.</FONT>
    If you are awaiting a TIN, write &#147;Applied For&#148; in this
    Part&#160;I, complete the &#147;Certificate Of Awaiting Taxpayer
    Identification Number&#148; below.
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="middle">
<DIV style="text-indent: -0pt; margin-left: 0pt;">
<BR><DIV style="font-size: 0pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=156 length=865 --><FONT style="font-size: 8pt">Social Security Number<BR><BR>OR<BR><BR><DIV style="font-size: 0pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=156 length=865 -->Employer Identification Number</FONT>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -0pt; margin-left: 0pt;">
<BR>&nbsp;<FONT style="font-size: 10pt"> </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="middle">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=01 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=body -->
    <TD width="4%" align="left">&nbsp;</TD>	<!-- colindex=01 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="90%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B><FONT style="font-size: 10pt">Part&#160;II<BR>
    </FONT></B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -0pt; margin-left: 0pt;">
<B><FONT style="font-size: 8pt">Certification</FONT></B><FONT style="font-size: 8pt"> <BR></FONT>
</DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 1%; margin-right: 1%; text-indent: 0%; font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Under penalties of perjury, I certify that:
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 1%; margin-right: 1%; text-indent: 0%; font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (1)&#160;The number shown on this form is my correct Taxpayer
    Identification Number (or I am waiting for a number to be issued
    to me),&#160;and
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 1%; margin-right: 1%; text-indent: 0%; font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (2)&#160;I am not subject to backup withholding because
    (a)&#160;I am exempt from backup withholding, or (b)&#160;I have
    not been notified by the IRS that I am subject to backup
    withholding as a result of a failure to report all interest or
    dividends, or (c)&#160;the IRS has notified me that I am no
    longer subject to backup withholding,&#160;and
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 1%; margin-right: 1%; text-indent: 0%; font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (3)&#160;I am a U.S.&#160;person (including a U.S.&#160;resident
    alien).
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 1%; margin-right: 1%; text-indent: 0%; font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Certification Instructions</B>&#160;&#151; You must cross out
    item (2)&#160;above if you have been notified by the IRS that
    you are currently subject to backup withholding because you have
    failed to report all interest and dividends on your tax return.
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 1%; margin-right: 1%; text-indent: 0%; font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The IRS does not require your consent to any provision of this
    document other than the certifications required to avoid backup
    withholding.
</DIV>

<DIV style="font-size: 6pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=504 length=0 -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="16%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterright -->
    <TD width="57%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="24%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    &nbsp;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 12pt">
    <B><FONT style="font-size: 8pt">Sign<BR>
    Here</FONT></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <FONT style="font-size: 8pt">Signature of<BR>
    U.S.&#160;person
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <FONT style="font-size: 8pt">Date
    </FONT>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>
</DIV><!-- End box 1 -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>NOTE:&#160;FAILURE TO COMPLETE AND RETURN THE SUBSTITUTE
    <FONT style="white-space: nowrap">FORM&#160;W-9</FONT>
    MAY RESULT IN BACKUP WITHHOLDING OF 28% OF ANY PAYMENTS MADE TO
    YOU ON ACCOUNT OF THE TENDER OFFER. PLEASE REVIEW THE ENCLOSED
    GUIDELINES FOR CERTIFICATION OF TAXPAYER IDENTIFICATION NUMBER
    ON SUBSTITUTE
    <FONT style="white-space: nowrap">FORM&#160;W-9</FONT>
    FOR ADDITIONAL DETAILS.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>COMPLETE THE FOLLOWING CERTIFICATION IF YOU WROTE
    &#147;APPLIED FOR&#148;<BR>
    INSTEAD OF A TIN ON THE SUBSTITUTE
    <FONT style="white-space: nowrap">FORM&#160;W-9.</FONT></B>
</DIV>

<DIV style="margin-top: 16pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>CERTIFICATE OF AWAITING TAXPAYER IDENTIFICATION NUMBER</B>
</DIV>

<DIV style="font-size: 6pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=504 length=0 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 1%; margin-right: 1%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    I certify under penalties of perjury that a taxpayer
    identification number has not been issued to me, and either
    (a)&#160;I have mailed or delivered an application to receive a
    TIN to the appropriate Internal Revenue Service Center or Social
    Security Administration Office or (b)&#160;I intend to mail or
    deliver an application in the near future. I understand that if
    I do not provide a TIN by the time of payment, 28% of all
    reportable payments made to me will be withheld.
</DIV>

<DIV style="font-size: 5pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=504 length=0 -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="16%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterright -->
    <TD width="57%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="24%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    &nbsp;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 12pt">
    <B><FONT style="font-size: 8pt">Sign<BR>
    Here</FONT></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <FONT style="font-size: 8pt">Signature of<BR>
    U.S.&#160;person
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <FONT style="font-size: 8pt">Date
    </FONT>
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>
</DIV><!-- End box 1 -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">GUIDELINES
    FOR CERTIFICATION OF TAXPAYER IDENTIFICATION<BR>
    NUMBER ON SUBSTITUTE
    <FONT style="white-space: nowrap">FORM&#160;W-9</FONT></FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Guidelines for Determining the Proper Identification Number
    for the Payee (You) to Give the Payer</B>&#160;&#151; Social
    Security numbers have nine digits separated by two hyphens:
    i.e.,
    <FONT style="white-space: nowrap">000-00-0000.</FONT>
    Employer identification numbers have nine digits separated by
    only one hyphen: i.e.,
    <FONT style="white-space: nowrap">00-0000000.</FONT>
    The table below will help determine the number to give the
    payer. All &#147;Section&#148; references are to the Internal
    Revenue Code of 1986, as amended. &#147;IRS&#148; is the
    Internal Revenue Service.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="4%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterright -->
    <TD width="45%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="46%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="4" align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 1px solid #000000">
    <B>Give the name and<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="4" align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>social security<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="4" align="left" valign="bottom">
    <B>For this type of account:</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>number of&#160;&#151; </B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">1.
    </FONT>
</DIV>
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="top" style="border-top: 1px solid #000000">
    <FONT style="font-size: 8pt">Individual
    </FONT>
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="top" style="border-top: 1px solid #000000">
    <FONT style="font-size: 8pt">The individual
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">2.
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">Two or more individuals (joint
    account)
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">The actual owner of the account or,
    if combined funds, the first individual on the account(1)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">3.
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">Custodian account of a minor
    (Uniform Gift to Minors Act)
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 8pt">The minor(2)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">4.
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 8pt"> a.&#160;The usual revocable
    savings trust (grantor is also trustee)
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 8pt">The grantor-trustee(1)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 8pt">b.&#160;So-called trust account
    that is not a legal or valid trust under state law
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">The actual owner(1)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">5.
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">Sole proprietorship or single-owner
    LLC
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 8pt">The owner(3)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">6.
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">Sole proprietorship or
    single-member LLC
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 8pt">The owner(3)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="6%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterright -->
    <TD width="44%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="45%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="4" align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
    <B>Give the name<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="4" align="left" valign="bottom">
    <B>For this type of account:</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>and employer identification number of&#160;&#151;</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">7.
    </FONT>
</DIV>
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD align="left" valign="top" style="border-top: 1px solid #000000">
    <FONT style="font-size: 8pt">A valid trust, estate, or pension
    trust
    </FONT>
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD align="left" valign="top" style="border-top: 1px solid #000000">
    <FONT style="font-size: 8pt">The legal entity(4)
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">8.
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">Corporate or LLC electing corporate
    status on Form&#160;8832
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 8pt">The corporation
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">9.
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">Association, club, religious,
    charitable, educational, or other tax-exempt organization
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 8pt">The organization
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">10.
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">Partnership or multi-member LLC
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 8pt">The partnership
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">11.
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">A broker or registered nominee
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">The broker or nominee
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <FONT style="font-size: 8pt">12.
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">Account with the Department of
    Agriculture in the name of a public entity (such as a state or
    local government, school district, or prison) that receives
    agricultural program payments
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">The public entity
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 1px solid #000000">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(1)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">List first and circle the name of
    the person whose number you furnish. If only one person on a
    joint account has a social security number, that person&#146;s
    number must be furnished.
    </FONT></TD>
</TR>



<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(2)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">Circle the minor&#146;s name and
    furnish the minor&#146;s social security number.
    </FONT></TD>
</TR>



<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(3)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">You must show your individual name,
    but you may also enter your business or &#147;doing business
    as&#148; name. You may use either your social security number or
    your employer identification number (if you have one).
    </FONT></TD>
</TR>



<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(4)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">List first and circle the name of
    the legal trust, estate, or pension trust. (Do not furnish the
    taxpayer identification number of the personal representative or
    trustee unless the legal entity itself is not designated in the
    account title.)
    </FONT></TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>NOTE:&#160;&#160;If no name is circled when there is more
    than one name listed, the number will be considered to be that
    of the first name listed.</B>
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">GUIDELINES
    FOR CERTIFICATION OF TAXPAYER IDENTIFICATION<BR>
    NUMBER ON SUBSTITUTE
    <FONT style="white-space: nowrap">FORM&#160;W-9</FONT></FONT></B>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Obtaining
    a Number</FONT></B>
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If you do not have a taxpayer identification number, apply for
    one immediately. To apply for a SSN, get
    <FONT style="white-space: nowrap">Form&#160;SS-5,</FONT>
    Application for a Social Security Card, from your local Social
    Security Administration office. Get
    <FONT style="white-space: nowrap">Form&#160;W-7,</FONT>
    Application for IRS Individual Taxpayer Identification Number,
    to apply for a TIN, or
    <FONT style="white-space: nowrap">Form&#160;SS-4,</FONT>
    Application for Employer Identification Number, to apply for an
    EIN. You can get
    <FONT style="white-space: nowrap">Forms&#160;W-7</FONT>
    and <FONT style="white-space: nowrap">SS-4</FONT>
    from the IRS by calling 1
    <FONT style="white-space: nowrap">(800)&#160;TAX-FORM,</FONT>
    or from the IRS Web Site at www.irs.gov.
</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Payees
    Exempt From Backup Withholding</FONT></B>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Payees specifically exempted from backup withholding
    include:</I>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#160;1.&#160;
</TD>
    <TD align="left">
    An organization exempt from tax under Section&#160;501(a), an
    individual retirement account (IRA), or a custodial account
    under Section&#160;403(b)(7) if the account satisfies the
    requirements of Section&#160;401(f)(2).
</TD>
</TR>

<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#160;2.&#160;
</TD>
    <TD align="left">
    The United States or any of its agencies or instrumentalities.
</TD>
</TR>

<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#160;3.&#160;
</TD>
    <TD align="left">
    A state, the District of Columbia, a possession of the United
    States, or any of their political subdivisions or
    instrumentalities.
</TD>
</TR>

<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#160;4.&#160;
</TD>
    <TD align="left">
    A foreign government or any of its political subdivisions,
    agencies or instrumentalities.
</TD>
</TR>

<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#160;5.&#160;
</TD>
    <TD align="left">
    An international organization or any of its agencies or
    instrumentalities.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Payees that may be exempt from backup withholding include:</I>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#160;6.&#160;
</TD>
    <TD align="left">
    A corporation.
</TD>
</TR>

<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#160;7.&#160;
</TD>
    <TD align="left">
    A foreign central bank of issue.
</TD>
</TR>

<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#160;8.&#160;
</TD>
    <TD align="left">
    A dealer in securities or commodities required to register in
    the United States, the District of Columbia, or a possession of
    the United States.
</TD>
</TR>

<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#160;9.&#160;
</TD>
    <TD align="left">
    A futures commission merchant registered with the Commodity
    Futures Trading Commission.
</TD>
</TR>

<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    10.&#160;
</TD>
    <TD align="left">
    A real estate investment trust.
</TD>
</TR>

<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    11.&#160;
</TD>
    <TD align="left">
    An entity registered at all times during the tax year under the
    Investment Company Act of 1940.
</TD>
</TR>

<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    12.&#160;
</TD>
    <TD align="left">
    A common trust fund operated by a bank under Section&#160;584(a).
</TD>
</TR>

<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    13.&#160;
</TD>
    <TD align="left">
    A financial institution.
</TD>
</TR>

<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    14.&#160;
</TD>
    <TD align="left">
    A middleman known in the investment community as a nominee or
    custodian.
</TD>
</TR>

<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    15.&#160;
</TD>
    <TD align="left">
    A trust exempt from tax under Section&#160;664 or described in
    Section&#160;4947.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The chart below shows types of payments that may be exempt from
    backup withholding. The chart applies to the exempt recipients
    listed above, <B>1</B> through <B>15</B>.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="39%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="60%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<TR valign="bottom">
<TD colspan="3" valign="bottom" style="font-size: 8pt">
<DIV style="text-indent: -3pt; margin-left: 9pt">
    <DIV style="font-size: 3pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=201 iwidth=442 length=504 -->
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom" style="font-size: 8pt">
<DIV style="text-indent: -3pt; margin-left: 9pt">
    <B>If the payment is for...</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom" style="font-size: 8pt">
<DIV style="text-indent: 0pt; margin-left: 6pt">
    <B>THEN the payment is exempt for...</B>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="bottom" style="font-size: 8pt">
<DIV style="text-indent: -3pt; margin-left: 9pt">
    <DIV style="font-size: 3pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=201 iwidth=442 length=504 -->
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom" style="font-size: 8pt">
<DIV style="text-indent: -3pt; margin-left: 9pt">
    Interest and dividend payments
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom" style="font-size: 8pt">
<DIV style="text-indent: 0pt; margin-left: 6pt">
    All exempt recipients except for <B>9</B>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="bottom" style="font-size: 8pt">
<DIV style="text-indent: -3pt; margin-left: 9pt">
    <DIV style="font-size: 3pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=201 iwidth=442 length=504 -->
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom" style="font-size: 8pt">
<DIV style="text-indent: -3pt; margin-left: 9pt">
    Broker transactions
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom" style="font-size: 8pt">
<DIV style="text-indent: 0pt; margin-left: 6pt">
    Exempt recipients <B>1 </B>through <B>13</B>. Also, a person
    registered under the Investment<BR>
    Advisers Act of 1940 who regularly acts as a broker
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="bottom" style="font-size: 8pt">
<DIV style="text-indent: -3pt; margin-left: 9pt">
    <DIV style="font-size: 3pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=201 iwidth=442 length=504 -->
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom" style="font-size: 8pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="font-size: 8pt">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I>Exempt payees should complete a substitute
    <FONT style="white-space: nowrap">Form&#160;W-9</FONT>
    to avoid possible erroneous backup
    withholding.</I></B><I>&#160;&#160;Furnish your taxpayer
    identification number, check the appropriate box for your
    status, check the &#147;Exempt from backup withholding&#148;
    box, sign and date the form and return it to the payer. Foreign
    payees who are not subject to backup withholding should complete
    an appropriate
    <FONT style="white-space: nowrap">Form&#160;W-8</FONT>
    and return it to the payer.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Privacy Act Notice.</B>&#160;&#160;Section&#160;6109 requires
    you to provide your correct taxpayer identification number to
    payers who must file information returns with the IRS to report
    interest, dividends, and certain other income paid to you to the
    IRS. The IRS uses the numbers for identification purposes and to
    help verify the accuracy of your return and may also provide
    this information to various government agencies for tax
    enforcement or litigation purposes and to cities, states, and
    the District of Columbia to carry out their tax laws, and may
    also disclose this information to other countries under a tax
    treaty, or to Federal and state agencies to enforce Federal
    nontax criminal laws and to combat terrorism. Payers must be
    given the numbers whether or not recipients are required to file
    tax returns. Payers must generally withhold 28% of taxable
    interest, dividend, and certain other payments to a payee who
    does not furnish a taxpayer identification number to a payer.
    Certain penalties may also apply.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Penalties</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>(1)&#160;Failure to Furnish Taxpayer Identification
    Number.</B>&#160;&#160;If you fail to furnish your correct
    taxpayer identification number to a payer, you are subject to a
    penalty of $50 for each such failure unless your failure is due
    to reasonable cause and not to willful neglect.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>(2)&#160;Civil Penalty for False Information with Respect to
    Withholding.</B>&#160;&#160;If you make a false statement with
    no reasonable basis that results in no backup withholding, you
    are subject to a $500 penalty.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>(3)&#160;Criminal Penalty for Falsifying
    Information.</B>&#160;&#160;Willfully falsifying certifications
    or affirmations may subject you to criminal penalties including
    fines <FONT style="white-space: nowrap">and/or</FONT>
    imprisonment.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>FOR ADDITIONAL INFORMATION CONTACT YOUR TAX CONSULTANT OR THE
    INTERNAL REVENUE SERVICE.</B>
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The letter of transmittal and certificates for shares and any
    other required documents should be sent or delivered by each
    tendering stockholder or its broker, dealer, commercial bank,
    trust company or other nominee to the depositary at one of its
    addresses set forth above.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Any questions or requests for assistance or for additional
    copies of the offer to purchase, the letter of transmittal or
    the notice of guaranteed delivery may be directed to the
    information agent at the telephone number and address set forth
    below. You may also contact MacKenzie Partners, Inc. or your
    broker, dealer, commercial bank or trust company for assistance
    concerning the tender offer. To confirm delivery of your shares,
    please contact the depositary.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>The information agent for the tender offer is:</I>
</DIV>

<DIV align="center" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <IMG src="y27824mackenzi.jpg" alt="MACKENZIE LOGO" >
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    105 Madison Avenue
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    New York, New York 10016
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT style="white-space: nowrap">(212)&#160;929-5500</FONT>
    (call collect)
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT style="white-space: nowrap">E-mail:</FONT>
    proxy@mackenziepartners.com
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    or
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Call Toll Free
    <FONT style="white-space: nowrap">(800)&#160;322-2885</FONT></B>
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.A.1.C
<SEQUENCE>4
<FILENAME>y27824exv99waw1wc.htm
<DESCRIPTION>EX-99.A.1.C: NOTICE OF GUARANTEED DELIVERY
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.A.1.C</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit
    (a)(1)(C)</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 16pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTICE OF
    GUARANTEED DELIVERY</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>(Not to be Used for Signature Guarantee)</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>for</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I>Offer to Purchase for Cash</I></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I>Up to 30,000,000&#160;Shares of its Common Stock</I></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I>At a Purchase Price Not Greater Than $22.00</I></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I>Nor Less Than $18.50 Per Share</I></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I>by</I></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I>Expedia, Inc.</I></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>



<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 12pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I><FONT style="font-size: 12pt">THE TENDER OFFER, PRORATION
    PERIOD AND WITHDRAWAL RIGHTS WILL<BR>
    EXPIRE AT 5:00&#160;P.M., NEW YORK CITY TIME, ON WEDNESDAY,<BR>
    JANUARY 10, 2007, UNLESS EXPEDIA EXTENDS THE TENDER
    OFFER.</FONT></I></B>
</DIV>
</DIV><!-- End box 1 -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    As set forth in Section&#160;3 of the offer to purchase, dated
    December 11, 2006, you should use this notice of guaranteed
    delivery (or a facsimile of it) to accept the tender offer (as
    defined herein) if:
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (a)&#160;your share certificates are not immediately available
    or you cannot deliver certificates representing shares of common
    stock, par value $.001 per share (the &#147;shares&#148;) of
    Expedia, Inc., a Delaware corporation (&#147;Expedia&#148;),
    prior to the &#147;expiration date&#148; (as defined in
    Section&#160;1 of the offer to purchase);&#160;or
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (b)&#160;the procedure for book-entry transfer cannot be
    completed before the expiration date (as specified in
    Section&#160;1 of the offer to purchase);&#160;or
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (c)&#160;time will not permit a properly completed and duly
    executed letter of transmittal and all other required documents
    to reach the depositary referred to below before the expiration
    date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    You may deliver this notice of guaranteed delivery (or a
    facsimile of it), signed and properly completed, by hand, mail,
    overnight courier or facsimile transmission so that the
    depositary receives it before the expiration date. See
    Section&#160;3 of the offer to purchase and Instruction&#160;2
    to the letter of transmittal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>The depositary for the tender offer is:</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>The Bank of New York</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="24%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="52%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="19%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <I><FONT style="font-size: 10pt">By Mail:</FONT></I>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <I><FONT style="font-size: 10pt">By Hand:</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <I><FONT style="font-size: 10pt">By Overnight
    Delivery:</FONT></I>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">The Bank of New York
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">The Bank of New York
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">The Bank of New York
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Expedia Inc.
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">Tender &#38; Exchange Dept.
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <FONT style="font-size: 10pt">Expedia Inc.
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">P.O. Box 859208
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <FONT style="font-size: 10pt">11W
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">161 Bay State Road
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Braintree, MA 02185-9028
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">101 Barclay Street
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">Braintree, MA 02184
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">Receive &#38; Deliver Window
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">Street Level<BR>
    New York, NY 10286
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <I><FONT style="font-size: 10pt">By Facsimile:</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <I><FONT style="font-size: 10pt">For Eligible Institutions
    Only<BR>
    </FONT></I><FONT style="font-size: 10pt">(781) 380-3388
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <I><FONT style="font-size: 10pt">Confirm Facsimile Receipt by
    telephone:</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <FONT style="font-size: 10pt">(781) 843-1833, Ext 200
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Delivery of this notice of guaranteed delivery to an address
    other than those shown above or transmission of instructions via
    the facsimile number other than the one listed above does not
    constitute a valid delivery. Deliveries to Expedia or to the
    information agent of the tender offer will not be forwarded to
    the depositary and therefore will not constitute valid delivery.
    Deliveries to the book-entry transfer facility will not
    constitute valid delivery to the depositary.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    You cannot use this notice of guaranteed delivery form to
    guarantee signatures. If a signature on the letter of
    transmittal is required to be guaranteed by an &#147;eligible
    guarantor institution&#148; (as defined in Section&#160;3 of the
    offer to purchase) under the instructions thereto, such
    signature must appear in the applicable space provided in the
    signature box on the letter of transmittal.
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Ladies and Gentlemen:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned hereby tenders to Expedia the number of shares
    indicated below, at the price per share indicated below, net to
    the seller in cash, without interest, upon the terms and subject
    to the conditions set forth in the offer to purchase and the
    related letter of transmittal, which together (and as each may
    be amended and supplemented from time to time) constitute the
    tender offer, and the receipt of which is hereby acknowledged.
    This tender is being made pursuant to the guaranteed delivery
    procedure set forth in Section&#160;3 of the offer to purchase.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Number of Shares&#160;Being Tendered Hereby:
    <U>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</U>
    Shares</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>CHECK <I>ONE AND ONLY ONE </I>BOX. IF YOU CHECK MORE THAN ONE
    BOX, OR IF YOU DO</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>NOT CHECK ANY BOX, YOU WILL HAVE FAILED TO VALIDLY TENDER ANY
    SHARES.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>SHARES&#160;TENDERED AT PRICE DETERMINED PURSUANT TO THE
    TENDER OFFER</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>(See Instruction&#160;5 of the letter of transmittal)</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT face="wingdings">o</FONT>&#160;
</TD>
    <TD align="left">
    The undersigned wants to maximize the chance of having Expedia
    purchase all shares the undersigned is tendering (subject to the
    possibility of proration). Accordingly, by checking this <B>ONE
    </B>box <B>INSTEAD OF ONE OF THE PRICE BOXES BELOW</B>, the
    undersigned hereby tenders shares and is willing to accept the
    purchase price determined by Expedia pursuant to the tender
    offer (the &#147;Purchase Price&#148;). This action could result
    in receiving a price per share of as low as $18.50.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>&#151;&#160;OR&#160;&#151;</B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">SHARES&#160;TENDERED
    AT PRICE DETERMINED BY STOCKHOLDER<BR>
    (See Instruction&#160;5 of the letter of transmittal)</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    By checking <B>ONE </B>of the boxes below <B>INSTEAD OF THE BOX
    ABOVE</B>, the undersigned hereby tenders shares at the price
    checked. This action could result in none of the shares being
    purchased if the Purchase Price is less than the price checked
    below. <B>A stockholder who desires to tender shares at more
    than one price must complete a separate letter of transmittal
    for each price at which the stockholder tenders shares.</B> You
    cannot tender the same shares at more than one price, unless you
    have previously validly withdrawn those shares at a different
    price in accordance with Section&#160;4 of the offer to purchase.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Price (in
    Dollars) Per Share at Which Shares&#160;Are Being
    Tendered</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="25%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="21%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="21%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="21%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>
    $18.50
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT face="wingdings">o</FONT> $
</TD>
<TD nowrap align="right" valign="top">
    19.50
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT face="wingdings">o</FONT> $
</TD>
<TD nowrap align="right" valign="top">
    20.50
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT face="wingdings">o</FONT> $
</TD>
<TD nowrap align="right" valign="top">
    21.50
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>
    $18.75
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT face="wingdings">o</FONT> $
</TD>
<TD nowrap align="right" valign="top">
    19.75
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT face="wingdings">o</FONT> $
</TD>
<TD nowrap align="right" valign="top">
    20.75
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT face="wingdings">o</FONT> $
</TD>
<TD nowrap align="right" valign="top">
    21.75
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>
    $19.00
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT face="wingdings">o</FONT> $
</TD>
<TD nowrap align="right" valign="top">
    20.00
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT face="wingdings">o</FONT> $
</TD>
<TD nowrap align="right" valign="top">
    21.00
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT face="wingdings">o</FONT> $
</TD>
<TD nowrap align="right" valign="top">
    22.00
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>
    $19.25
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT face="wingdings">o</FONT> $
</TD>
<TD nowrap align="right" valign="top">
    20.25
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT face="wingdings">o</FONT> $
</TD>
<TD nowrap align="right" valign="top">
    21.25
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">You WILL
    NOT have validly tendered your shares<BR>
    unless you check ONE AND ONLY ONE BOX IN THIS PAGE.</FONT></B>
</DIV>
</DIV><!-- End box 1 -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">ODD
    LOTS</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>(See Instruction&#160;6 of the letter of transmittal)</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    To be completed <B>only </B>if shares are being tendered by or
    on behalf of a person owning, beneficially or of record, an
    aggregate of fewer than 100&#160;shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    On the date hereof, the undersigned either (check one box):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="wingdings">o</FONT>&#160;</TD>
    <TD align="left">
    is the beneficial or record owner of an aggregate of fewer than
    100&#160;shares and is tendering all of those shares,
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    OR
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="wingdings">o</FONT>&#160;</TD>
    <TD align="left">
    is a broker, dealer, commercial bank, trust company or other
    nominee that (i)&#160;is tendering, for the beneficial owner(s)
    thereof, shares with respect to which it is the record holder,
    and (ii)&#160;believes, based upon representations made to it by
    such beneficial owner(s), that each such person was the
    beneficial owner of an aggregate of fewer than 100&#160;shares
    and is tendering all of such shares.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>In addition, the undersigned is tendering shares (check ONE
    box):</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="wingdings">o</FONT>&#160;
</TD>
    <TD align="left">    at the Purchase Price, which will be determined by Expedia in
    accordance with the terms of the tender offer (persons checking
    this box should check the first box on page&#160;2 of this
    notice of guaranteed delivery, under the heading &#145;Shares
    Tendered at Purchase Price Pursuant to the Tender Offer&#145;);
    or
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="wingdings">o</FONT>&#160;
</TD>
    <TD align="left">    at the price per share indicated under the heading,
    &#145;&#145;Price (in Dollars) Per Share at Which Shares Are
    Being Tendered&#148; on page&#160;2 of this notice of guaranteed
    delivery.
</TD>
</TR>

</TABLE>

<DIV style="font-size: 12pt; margin-left: 0%; width: 99%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=479 -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">CONDITIONAL
    TENDER<BR>
    (See Instruction&#160;11 of the letter of transmittal)</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    A tendering stockholder may condition such stockholder&#146;s
    tender of any shares upon the purchase by Expedia of a specified
    minimum number of the shares such stockholder tenders, as
    described in Section&#160;6 of the offer to purchase. Unless
    Expedia purchases at least the minimum number of shares you
    indicate below pursuant to the terms of the tender offer,
    Expedia will not purchase any of the shares tendered below. It
    is the tendering stockholder&#146;s responsibility to calculate
    that minimum number, and we urge each stockholder to consult his
    or her own tax advisor in doing so. Unless you check the box
    immediately below and specify, in the space provided, a minimum
    number of shares that Expedia must purchase if Expedia purchases
    any shares, Expedia will deem your tender unconditional.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="wingdings">o</FONT>&#160;</TD>
    <TD align="left">
    The minimum number of shares that Expedia must purchase if
    Expedia purchases any shares, is:
    <U>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</U>shares.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If, because of proration, Expedia will not purchase the minimum
    number of shares that you designate, Expedia may accept
    conditional tenders by random lot, if necessary. However, to be
    eligible for purchase by random lot, the tendering stockholder
    must have tendered all of his or her shares. To certify that you
    are tendering all of the shares you own, check the box below.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="wingdings">o</FONT>&#160;</TD>
    <TD align="left">
    The tendered shares represent all shares held by the undersigned.
</TD>
</TR>

</TABLE>
</DIV><!-- End box 1 -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">STOCKHOLDERS
    COMPLETE AND SIGN BELOW</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Please type or print</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="61%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="4%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="35%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Certificate No.(s) (if available):
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Signature(s) of Stockholder(s):
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><DIV style="text-indent:0pt"><!-- callerid=208 iwidth=288 length=0 --></DIV>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=171 length=0 -->
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Date:
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><DIV style="text-indent:0pt"><!-- callerid=208 iwidth=288 length=0 --></DIV>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=171 length=0 -->
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Date:
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><DIV style="text-indent:0pt"><!-- callerid=208 iwidth=288 length=0 --></DIV>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=171 length=0 -->
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Date:
    </FONT>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="36%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="4%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="21%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="4%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="35%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Name(s) of Stockholders:
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="bottom">
    <FONT style="font-size: 10pt">Area Code&#160;&#38; Phone No.
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="bottom">
    <FONT style="font-size: 10pt">Address(es) of Stockholders:
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><DIV style="text-indent:0pt"><!-- callerid=208 iwidth=168 length=0 --></DIV>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=104 length=0 -->
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=168 length=0 -->
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><DIV style="text-indent:0pt"><!-- callerid=208 iwidth=168 length=0 --></DIV>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=104 length=0 -->
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=168 length=0 -->
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><DIV style="text-indent:0pt"><!-- callerid=208 iwidth=168 length=0 --></DIV>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=104 length=0 -->
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=168 length=0 --><FONT style="font-size: 10pt">
    </FONT>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If shares will be tendered by book-entry transfer provide the
    following information:
</DIV>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="61%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="4%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="35%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Name of Tendering Institution:
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Account No:
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><DIV style="text-indent:0pt"><!-- callerid=208 iwidth=288 length=0 --><FONT style="font-size: 10pt">
    <FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=208 iwidth=288 length=0 --></FONT></DIV>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=171 length=0 -->
    </FONT>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>
</DIV><!-- End box 1 -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 50 -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">GUARANTEE</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>(Not to be used for Signature Guarantee)</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned, a bank, broker, dealer, credit union, savings
    association or other entity which is a member in good standing
    of the Securities Transfer Agents Medallion Program or a bank,
    broker, dealer, credit union, savings association or other
    entity which is an &#147;Eligible Guarantor Institution,&#148;
    as such term is defined in
    <FONT style="white-space: nowrap">Rule&#160;17Ad-15</FONT>
    under the Securities Exchange Act of 1934, as amended (each of
    the foregoing constituting an &#147;Eligible Guarantor
    Institution&#148;), guarantees the delivery of the shares
    tendered hereby to the depositary, in proper form for transfer,
    or a confirmation that the shares tendered hereby have been
    delivered under the procedure for book-entry transfer set forth
    in the offer to purchase into the depositary&#146;s account at
    the book-entry transfer facility, together with a properly
    completed and duly executed letter of transmittal and any other
    required documents, all within three NASDAQ trading days of the
    date hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="46%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="5%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="44%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Name of Firm:<BR>
    <DIV style="font-size: 18pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=215 length=215 -->
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Name of Firm:<BR>
    <DIV style="font-size: 18pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=215 length=877 -->
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 10pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Authorized Signature:<BR>
    <DIV style="font-size: 18pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=215 length=877 -->
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Authorized Signature:<BR>
    <DIV style="font-size: 18pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=215 length=877 -->
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 10pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Name:<BR>
    <DIV style="font-size: 18pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=215 length=877 -->
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Name:<BR>
    <DIV style="font-size: 18pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=215 length=877 -->
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 10pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Title:<BR>
    <DIV style="font-size: 18pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=215 length=877 -->
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Title:<BR>
    <DIV style="font-size: 18pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=215 length=877 -->
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 10pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Address:<BR>
    <DIV style="font-size: 18pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=215 length=877 -->
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Address:<BR>
    <DIV style="font-size: 18pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=215 length=877 -->
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 10pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Zip Code:<BR>
    <DIV style="font-size: 18pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=215 length=877 -->
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Zip Code:<BR>
    <DIV style="font-size: 18pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=215 length=877 -->
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 10pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Area Code and Telephone Number:<BR>
    <DIV style="font-size: 18pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=215 length=877 -->
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Area Code and Telephone Number:<BR>
    <DIV style="font-size: 18pt; margin-left: 0%; width: 100%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=215 length=877 -->
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 10pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Dated:
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="font-size: 10pt">Dated:
    </FONT>
</TD>
</TR>
<TR valign="bottom" style="line-height: 18pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=208 iwidth=215 length=180 --><FONT style="font-size: 10pt">&#160;,&#160;&#160;
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <FONT style="word-spacing: 100pt; white-space: nowrap; font-size: 1pt"><U>_
    _</U></FONT><!-- callerid=208 iwidth=215 length=180 --><FONT style="font-size: 10pt">&#160;,&#160;&#160;
    </FONT>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV><B>DO
    NOT SEND SHARE CERTIFICATES WITH THIS NOTICE OF GUARANTEED
    DELIVERY.<BR>
    SHARE CERTIFICATES SHOULD BE SENT WITH YOUR LETTER OF
    TRANSMITTAL.</B>
</DIV>
</DIV><!-- End box 50 -->
</DIV><!-- End box 1 -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.A.1.D
<SEQUENCE>5
<FILENAME>y27824exv99waw1wd.htm
<DESCRIPTION>EX-99.A.1.D: LETTER TO BROKERS, DEALERS
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.A.1.D</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit
    (a)(1)(D)</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 16pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Offer
    to Purchase for Cash<BR>
    Up to 30,000,000&#160;Shares of its Common Stock<BR>
    At a Purchase Price Not Greater Than $22.00<BR>
    Nor Less Than $18.50 Per Share<BR>
    by<BR>
    Expedia, Inc.</FONT></I></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>



<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 12pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I><FONT style="font-size: 12pt">THE TENDER OFFER, PRORATION
    PERIOD AND WITHDRAWAL RIGHTS WILL<BR>
    EXPIRE AT 5:00&#160;P.M., NEW YORK CITY TIME, ON WEDNESDAY,
    JANUARY 10, 2007, UNLESS EXPEDIA EXTENDS THE TENDER
    OFFER.</FONT></I></B>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>
</DIV><!-- End box 1 -->

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    December&#160;11, 2006
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    To Brokers, Dealers, Commercial Banks,
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Trust Companies and Other Nominees:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Expedia, Inc., a Delaware corporation (&#147;Expedia&#148; or
    &#147;we&#148;), is proposing to purchase for cash up to
    30,000,000&#160;shares of its common stock, par value
    $.001&#160;per share (the &#147;shares&#148;), at a price not
    greater than $22.00 nor less than $18.50 per share, net to the
    seller in cash, without interest. The terms and conditions of
    the tender offer are set forth in our offer to purchase, dated
    December&#160;11, 2006 and the letter of transmittal, which
    together (and as each may be amended and supplemented from time
    to time) constitute the tender offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We will, upon the terms and subject to the conditions of the
    tender offer, determine a single per share price, not greater
    than $22.00 nor less than $18.50 per share (the &#147;Purchase
    Price&#148;), that we will pay for shares properly tendered and
    not properly withdrawn pursuant to the terms of the tender
    offer, taking into account the number of shares so tendered and
    the prices specified by tendering stockholders. We will select
    the lowest Purchase Price that will allow Expedia to purchase
    30,000,000&#160;shares, or such fewer number of shares as are
    properly tendered and not properly withdrawn, at prices not
    greater than $22.00 nor less than $18.50 per share, under the
    tender offer. All shares properly tendered before the expiration
    date (as specified in Section&#160;1 of the offer to purchase)
    at prices at or below the Purchase Price and not validly
    withdrawn will be purchased by Expedia at the Purchase Price,
    net to the seller in cash, without interest, upon the terms and
    subject to the conditions of the tender offer, including the
    &#147;odd lot,&#148; proration and conditional tender provisions
    thereof. See Section&#160;1 of the offer to purchase. Shares
    tendered at prices in excess of the Purchase Price and shares
    that Expedia does not accept for purchase because of proration
    or conditional tenders will be returned at Expedia&#146;s
    expense to the stockholders that tendered such shares, as
    promptly as practicable after the expiration date. Expedia
    expressly reserves the right, in its sole discretion, to
    purchase more than 30,000,000&#160;shares under the tender
    offer, subject to applicable law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If, at the expiration date more than 30,000,000&#160;shares (or
    such greater number of shares as Expedia may elect to purchase,
    subject to applicable law) are properly tendered at or below the
    Purchase Price and not properly withdrawn, we will buy shares:
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    first, from all holders of &#147;odd lots&#148; (holders of less
    than 100&#160;shares) who properly tender all their shares at or
    below the Purchase Price and do not properly withdraw them
    before the expiration date;
</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    second, on a <I>pro rata </I>basis from all other stockholders
    who properly tender shares at or below the Purchase Price, other
    than stockholders who tender conditionally and whose conditions
    are not satisfied;&#160;and
</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    third, only if necessary to permit us to purchase
    30,000,000&#160;shares (or such greater number of shares as we
    may elect to purchase, subject to applicable law) from holders
    who have tendered shares subject to the condition that we
    purchase a specified minimum number of the holder&#146;s shares
    if we purchase any of the holder&#146;s shares in the tender
    offer (for which the condition was not initially satisfied) at
    or below the Purchase Price by random lot, to the extent
    feasible. To be
</TD>
</TR>

</TABLE>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    eligible for purchase by random lot, stockholders whose shares
    are conditionally tendered must have tendered all of their
    shares.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>The tender offer is not conditioned on any minimum number of
    shares being tendered. The tender offer is, however, subject to
    other conditions. See Section&#160;7 of the offer to
    purchase.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    For your information and for forwarding to your clients for whom
    you hold shares registered in your name or in the name of your
    nominee, we are enclosing the following documents:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    1.&#160;Offer to Purchase, dated December&#160;11, 2006;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    2.&#160;Letter to Clients, which you may send to your clients
    for whom you hold shares registered in your name or in the name
    of your nominee, with an Instruction&#160;Form provided for
    obtaining such clients&#146; instructions with regard to the
    tender offer;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    3.&#160;Letter to the stockholders of Expedia, dated
    December&#160;11, 2006 from the Chief Executive Officer of
    Expedia;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    4.&#160;Letter of Transmittal, for your use and for the
    information of your clients, together with accompanying
    instructions, Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9,</FONT>
    and Guidelines of the Internal Revenue Service for Certification
    of Taxpayer Identification Number on Substitute
    <FONT style="white-space: nowrap">Form&#160;W-9;&#160;and</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    5.&#160;Notice of Guaranteed Delivery, to be used to accept the
    tender offer in the event that you are unable to deliver the
    share certificates, together with all other required documents,
    to the depositary before the expiration date, or if the
    procedure for book-entry transfer cannot be completed before the
    expiration date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>WE URGE YOU TO CONTACT YOUR CLIENTS AS PROMPTLY AS POSSIBLE.
    THE TENDER OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL
    EXPIRE AT 5:00&#160;P.M., NEW YORK CITY TIME, ON WEDNESDAY,
    JANUARY 10, 2007, UNLESS EXPEDIA EXTENDS THE TENDER OFFER.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    No fees or commissions will be payable to brokers, dealers,
    commercial banks, trust companies or any person for soliciting
    tenders of shares under the tender offer other than fees paid to
    the information agent and the trustee for the Expedia Retirement
    Savings Plan, as described in the offer to purchase. We will,
    however, upon request, reimburse brokers, dealers, commercial
    banks and trust companies for reasonable and necessary costs and
    expenses incurred by them in forwarding the enclosed materials
    to their customers who are beneficial owners of shares held by
    them as a nominee or in a fiduciary capacity. We will pay or
    cause to be paid any stock transfer taxes applicable to its
    purchase of shares pursuant to the tender offer, except as
    otherwise provided in the offer to purchase and letter of
    transmittal (see Instruction&#160;9 of the letter of
    transmittal). No broker, dealer, bank, trust company or
    fiduciary shall be deemed to be either our agent, the
    depositary, or the information agent for purposes of the tender
    offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    For shares to be properly tendered pursuant to the tender offer,
    the depositary must timely receive (1)&#160;the share
    certificates or confirmation of receipt of such shares under the
    procedure for book-entry transfer, together with a properly
    completed and duly executed letter of transmittal, including any
    required signature guarantees or an &#147;agent&#146;s
    message&#148; (as defined in the offer to purchase and the
    letter of transmittal) and any other documents required pursuant
    to the tender offer, or (2)&#160;the tendering stockholder must
    comply with the guaranteed delivery procedures, all in
    accordance with the instructions set forth in the offer to
    purchase and letter of transmittal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Stockholders (a)&#160;whose share certificates are not
    immediately available or who will be unable to deliver to the
    depositary the certificate(s) for the shares being tendered and
    all other required documents before the expiration date, or
    (b)&#160;who cannot complete the procedures for book-entry
    transfer before the expiration date, must tender their shares
    according to the procedure for guaranteed delivery set forth in
    Section&#160;3 of the offer to purchase.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Neither Expedia nor its Board of Directors makes any
    recommendation to any stockholder as to whether to tender or
    refrain from tendering all or any shares or as to the price or
    prices at which to tender. Holders of shares must make their own
    decision as to whether to tender shares and, if so, how many
    shares to tender and at which prices.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Please address any inquiries you may have with respect to the
    tender offer to the information agent, MacKenzie Partners, Inc.,
    at its address set forth on the back cover page of the offer to
    purchase and telephone number set forth below.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    You may obtain additional copies of the enclosed material from
    MacKenzie Partners, Inc. by calling them at:
    <FONT style="white-space: nowrap">(800)&#160;322-2885</FONT>
    or
    <FONT style="white-space: nowrap">(212)&#160;929-5500.</FONT>
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    2
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<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Capitalized terms used but not defined herein have the meanings
    assigned to them in the offer to purchase and the letter of
    transmittal.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 47%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Very truly yours,
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 47%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <IMG src="y27824norton.gif" alt="" >
</DIV>

<DIV style="font-size: 2pt; margin-left: 47%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV align="left" style="margin-left: 47%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    For: Expedia, Inc.
</DIV>

<DIV align="left" style="margin-left: 47%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    By: Burke F. Norton
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Enclosures.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>NOTHING CONTAINED HEREIN OR IN THE ENCLOSED DOCUMENTS SHALL
    CONSTITUTE YOU OR ANY OTHER PERSON AN AGENT OF EXPEDIA, THE
    INFORMATION AGENT, THE TRUSTEE FOR ANY EXPEDIA EMPLOYEE PLAN, OR
    THE DEPOSITARY OR ANY AFFILIATE OF THE FOREGOING, OR AUTHORIZE
    YOU OR ANY OTHER PERSON TO USE ANY DOCUMENT OR MAKE ANY
    STATEMENT ON BEHALF OF ANY OF THEM IN CONNECTION WITH THE TENDER
    OFFER OTHER THAN THE DOCUMENTS ENCLOSED HEREWITH AND THE
    STATEMENTS CONTAINED THEREIN.</B>
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    3
</DIV><!-- END LOGICAL PAGE -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.A.1.E
<SEQUENCE>6
<FILENAME>y27824exv99waw1we.htm
<DESCRIPTION>EX-99.A.1.E: LETTER TO CLIENTS
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.A.1.E</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit
    (a)(1)(E)</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 16pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Offer
    to Purchase for Cash<BR>
    <FONT style="font-size: 14pt">Up to 30,000,000&#160;Shares of
    its Common Stock<BR>
    At a Purchase Price Not Greater Than $22.00<BR>
    Nor Less Than $18.50 Per Share<BR>
    by<BR>
    </FONT></FONT><FONT style="font-family: 'Times New Roman', Times">Expedia,
    Inc.</FONT></I></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>


<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I><FONT style="font-size: 12pt">THE TENDER OFFER, PRORATION
    PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00&#160;P.M., NEW
    YORK CITY TIME, ON WEDNESDAY, JANUARY 10, 2007 UNLESS EXPEDIA
    EXTENDS THE TENDER OFFER.</FONT></I></B>
</DIV>
</DIV><!-- End box 1 -->

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    December&#160;11, 2006
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    To Our Clients:
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Enclosed for your consideration are the offer to purchase, dated
    December&#160;11, 2006, and the letter of transmittal, in
    connection with the tender offer by Expedia, Inc., a Delaware
    corporation (&#147;Expedia&#148;), to purchase up to
    30,000,000&#160;shares of its common stock, par value
    $.001&#160;per share (the &#147;shares&#148;). Pursuant to the
    offer to purchase and the letter of transmittal, which together
    (as each may be amended and supplemented from time to time)
    constitute the tender offer, Expedia will purchase the shares at
    a price, specified by tendering stockholders, not greater than
    $22.00 nor less than $18.50 per share, net to the seller in
    cash, without interest, upon the terms and subject to the
    conditions set forth in the offer to purchase.
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Expedia will, upon the terms and subject to the conditions of
    the tender offer, determine a single per share price, not
    greater than $22.00 nor less than $18.50 per share (the
    &#147;Purchase Price&#148;), that it will pay for shares
    properly tendered and not properly withdrawn pursuant to the
    terms of the tender offer, taking into account the number of
    shares so tendered and the prices specified by tendering
    stockholders. Expedia will select the lowest Purchase Price that
    will allow it to purchase 30,000,000&#160;shares, or such fewer
    number of shares as are properly tendered and not properly
    withdrawn, at prices not greater than $22.00 nor less than
    $18.50 per share, under the tender offer.
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    All shares properly tendered before the expiration date (as
    specified in Section&#160;1 of the offer to purchase) at prices
    at or below the Purchase Price and not properly withdrawn will
    be purchased by Expedia at the Purchase Price, net to the seller
    in cash, without interest, upon the terms and subject to the
    conditions of the tender offer, including the &#147;odd
    lot,&#148; proration and conditional tender provisions thereof.
    All shares tendered at prices in excess of the Purchase Price
    and all shares that Expedia does not accept for purchase because
    of proration or conditional tenders will be returned at
    Expedia&#146;s expense to the stockholders that tendered such
    shares as promptly as practicable after the expiration date.
    Expedia expressly reserves the right, in its sole discretion, to
    purchase more than 30,000,000&#160;shares under the tender
    offer, subject to applicable law.
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We are the owner of record of shares held for your account. As
    such, we are the only ones who can tender your shares, and then
    only pursuant to your instructions. We are sending you the
    letter of transmittal for your information only. You cannot use
    the letter of transmittal to tender shares we hold for your
    account. The letter of transmittal must be completed and
    executed by us, according to your instructions.
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Please instruct us as to whether you wish us to tender, on
    the terms and subject to the conditions of the tender offer, any
    or all of the shares we hold for your account, by completing and
    signing the Instruction&#160;Form enclosed herein.</B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Please note carefully the following:
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    1.&#160;You may tender shares at prices not greater than $22.00
    nor less than $18.50 per share as indicated in the enclosed
    Instruction&#160;Form, net to you in cash, without interest.
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    2.&#160;You should consult with your broker
    <FONT style="white-space: nowrap">and/or</FONT> your
    tax advisor as to whether (and if so, in what manner) you should
    designate the priority in which you want your tendered shares to
    be purchased in the event of proration.
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
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<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    3.&#160;The tender offer is not conditioned upon any minimum
    number of shares being tendered. The tender offer is, however,
    subject to certain other conditions set forth in Section&#160;7
    of the offer to purchase, which you should read carefully.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    4.&#160;The tender offer, the proration period and the
    withdrawal rights will expire at 5:00&#160;p.m., New York City
    time, on Wednesday, January&#160;10, 2007, unless Expedia
    extends the tender offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    5.&#160;The tender offer is for 30,000,000&#160;shares,
    constituting approximately 9.8% of the shares of common stock
    outstanding as of December&#160;1, 2006.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    6.&#160;Tendering stockholders who are registered stockholders
    or who tender their shares directly to The Bank of New York will
    not be obligated to pay any brokerage commissions or fees,
    solicitation fees, or (except as set forth in the offer to
    purchase and Instruction&#160;9 to the letter of transmittal)
    stock transfer taxes on Expedia&#146;s purchase of shares under
    the tender offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    7.&#160;If you (i)&#160;own beneficially or of record an
    aggregate of fewer than 100&#160;shares, (ii)&#160;instruct us
    to tender on your behalf <B>ALL </B>of the shares you own at or
    below the Purchase Price before the expiration date and
    (iii)&#160;check the box captioned &#147;Odd Lots&#148; in the
    attached Instruction&#160;Form, then Expedia, upon the terms and
    subject to the conditions of the tender offer, will accept all
    of your tendered shares for purchase regardless of any proration
    that may be applied to the purchase of other shares properly
    tendered but not meeting the above conditions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    8.&#160;If you wish to condition your tender upon the purchase
    of all shares tendered or upon Expedia&#146;s purchase of a
    specified minimum number of the shares that you tender, you may
    elect to do so and thereby avoid (in full or in part) possible
    proration of your tender. Expedia&#146;s purchase of shares from
    all tenders which are so conditioned will be determined, to the
    extent necessary, by random lot. To elect such a condition
    complete the section captioned &#147;Conditional Tender&#148; in
    the attached Instruction&#160;Form.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    9.&#160;If you wish to tender portions of your shares at
    different prices, you must complete a <B>SEPARATE
    </B>Instruction&#160;Form for each price at which you wish to
    tender each such portion of your shares. We must and will submit
    separate letters of transmittal on your behalf for each price
    you will accept.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    10.&#160;<B>The Board of Directors of Expedia has approved the
    tender offer. However, neither Expedia nor its Board of
    Directors makes any recommendation to stockholders as to whether
    to tender or refrain from tendering their shares for purchase,
    or as to the price or prices at which stockholders should choose
    to tender their shares. Stockholders must make their own
    decisions as to whether to tender their shares and, if so, how
    many shares to tender and the price or prices at which they
    should tender such shares. Expedia&#146;s directors and
    executive officers and Liberty Media Corporation have advised
    Expedia that they do not intend to tender any shares in the
    tender offer.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If you wish to have us tender any or all of your shares, please
    instruct us to that effect by completing, executing, and
    returning to us the enclosed Instruction&#160;Form. A
    pre-addressed envelope is enclosed for your convenience. If you
    authorize us to tender your shares, we will tender all of the
    shares that we hold beneficially for your account unless you
    specify otherwise on the enclosed Instruction&#160;Form.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Please forward your completed Instruction&#160;Form to us in a
    timely manner to give us ample time to permit us to submit the
    tender on your behalf before the expiration date of the tender
    offer. The tender offer, proration period and withdrawal rights
    will expire at 5:00&#160;p.m., New York City time, on Wednesday,
    January&#160;10, 2007, unless Expedia extends the tender offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    As described in the offer to purchase, if more than
    30,000,000&#160;shares, or such greater number of shares as
    Expedia may elect to purchase in accordance with applicable law,
    are properly tendered at or below the Purchase Price and not
    properly withdrawn before the expiration date, then Expedia will
    accept shares for purchase at the Purchase Price in the
    following order of priority:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    1.&#160;First, Expedia will purchase all shares properly
    tendered at or below the Purchase Price and not properly
    withdrawn before the expiration date by any &#147;odd lot&#148;
    holder who:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 7%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (a)&#160;tenders ALL of the shares owned beneficially or of
    record by such odd lot holder at or below the Purchase Price
    before the expiration date (partial tenders will not qualify for
    this preference); AND
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    2
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 7%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (b)&#160;completes the section captioned &#147;Odd Lots&#148; on
    the letter of transmittal and, if applicable, on the notice of
    guaranteed delivery, without regard to any proration that would
    otherwise be applicable to such &#147;odd lot&#148; shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    2.&#160;Second, after Expedia has purchased all properly
    tendered (and not validly withdrawn) &#147;odd lot&#148; shares,
    Expedia will purchase all other shares properly tendered at or
    below the Purchase Price before the expiration date (and not
    properly withdrawn) on a <I>pro rata </I>basis if necessary,
    subject to the conditional tender provisions described in
    Section&#160;6 of the offer to purchase, and with adjustments to
    avoid purchases of fractional shares, all as provided in the
    offer to purchase.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    3.&#160;Third, and only if necessary to permit Expedia to
    purchase 30,000,000&#160;shares (or such greater number of
    shares as Expedia may elect to purchase subject to applicable
    law), Expedia will purchase properly tendered shares from
    holders who have tendered shares conditionally (and for whom the
    condition was not initially satisfied) by random lot to the
    extent feasible. To be eligible for purchase by random lot,
    stockholders whose shares are conditionally tendered (and for
    whom the condition was not initially satisfied) must have
    tendered all of their shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The tender offer is being made solely under the offer to
    purchase and the letter of transmittal and is being made to all
    record holders of shares. The tender offer is not being made to,
    nor will tenders be accepted from or on behalf of, holders of
    shares residing in any jurisdiction in which the making of the
    tender offer or acceptance thereof would not be in compliance
    with the securities, blue sky or other laws of such jurisdiction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>YOUR PROMPT ACTION IS REQUESTED.&#160;&#160;PLEASE FORWARD
    YOUR COMPLETED INSTRUCTION FORM TO US IN AMPLE TIME TO PERMIT US
    TO SUBMIT THE TENDER ON YOUR BEHALF BEFORE THE EXPIRATION OF THE
    TENDER OFFER.</B>
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    3
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Instruction&#160;Form with Respect to</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I>Expedia, Inc.</I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I>Offer to Purchase for Cash</I></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I>Up to 30,000,000 Shares of its Common Stock</I></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I>At a Purchase Price Not Greater Than $22.00</I></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I>Nor Less Than $18.50 Per Share</I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned acknowledge(s) receipt of your letter in
    connection with the tender offer by Expedia, Inc., a Delaware
    corporation (&#147;Expedia&#148;), to purchase up to
    30,000,000&#160;shares of its common stock, par value
    $.001&#160;per share (the &#147;shares&#148;), at a price
    specified by the undersigned and not greater than $22.00 nor
    less than $18.50 per share, net to the seller in cash, without
    interest, upon the terms and subject to the conditions set forth
    in the enclosed offer to purchase, dated December&#160;11, 2006
    and the letter of transmittal, which together (as each maybe
    amended and supplemented from time to time) constitute the
    tender offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned understands that Expedia will, upon the terms
    and subject to the conditions of the tender offer,
    (i)&#160;determine a single per share price not greater than
    $22.00 nor less than $18.50 per share (the &#147;Purchase
    Price&#148;) and (ii)&#160;purchase the shares properly tendered
    and not properly withdrawn under the tender offer, taking into
    account the number of shares so tendered and the prices
    specified by tendering stockholders. Expedia will select the
    lowest Purchase Price that will allow it to purchase
    30,000,000&#160;shares, or such lesser number of shares as are
    properly tendered and not properly withdrawn, at prices not
    greater than $22.00 nor less than $18.50 per share under the
    tender offer. Expedia will purchase all shares properly tendered
    at prices at or below the Purchase Price and not properly
    withdrawn at the Purchase Price, net to the seller in cash,
    without interest, upon the terms and subject to the conditions
    of the tender offer, including the odd lot, proration and
    conditional tender provisions described in the offer to
    purchase. All other shares, including shares tendered at prices
    in excess of the Purchase Price and shares that Expedia does not
    accept for purchase because of proration or conditional tenders
    will be returned at Expedia&#146;s expense to the stockholders
    that tendered such shares as promptly as practicable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The undersigned hereby instruct(s) you to tender to Expedia the
    number of shares indicated below or, if no number is indicated,
    all shares you hold for the account of the undersigned, at the
    price per share indicated below, in accordance with the terms
    and subject to the conditions of the tender offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>NUMBER OF SHARES&#160;TO BE TENDERED BY YOU FOR THE ACCOUNT
    OF THE UNDERSIGNED:</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><U>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</U>&#160;SHARES*</B>
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    4
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">SHARES&#160;TENDERED
    AT PRICE DETERMINED PURSUANT TO THE TENDER OFFER<BR>
    (See Instruction&#160;5 of the letter of transmittal)</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT face="wingdings">o</FONT>&#160;
</TD>
    <TD align="left">
    The undersigned wants to maximize the chance of having Expedia
    purchase all shares the undersigned is tendering (subject to the
    possibility of proration). Accordingly, by checking this <B>ONE
    </B>box <B>INSTEAD OF ONE OF THE PRICE BOXES BELOW, </B>the
    undersigned hereby tenders shares and is willing to accept the
    purchase price determined by Expedia pursuant to the tender
    offer (the &#147;Purchase Price&#148;). This action could result
    in receiving a price per share of as low as $18.50.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>&#151;&#160;OR&#160;&#151;</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">SHARES&#160;TENDERED
    AT PRICE DETERMINED BY STOCKHOLDER</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>(See Instruction&#160;5 of the letter of transmittal)</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    By checking <B>ONE </B>of the boxes below <B>INSTEAD OF THE BOX
    ABOVE, </B>the undersigned hereby tenders shares at the price
    checked. This action could result in none of the shares being
    purchased if the Purchase Price is less than the price checked
    below. <B>A stockholder who desires to tender shares at more
    than one price must complete a separate letter of transmittal
    for each price at which the stockholder tenders shares. </B>You
    cannot tender the same shares at more than one price, unless you
    have previously validly withdrawn those shares at a different
    price in accordance with Section&#160;4 of the offer to purchase.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Price (in
    Dollars) Per Share at Which Shares&#160;Are Being
    Tendered</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="25%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="21%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="21%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="21%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>
    $18.50
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT face="wingdings">o</FONT> $
</TD>
<TD nowrap align="right" valign="top">
    19.50
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT face="wingdings">o</FONT> $
</TD>
<TD nowrap align="right" valign="top">
    20.50
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT face="wingdings">o</FONT> $
</TD>
<TD nowrap align="right" valign="top">
    21.50
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>
    $18.75
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT face="wingdings">o</FONT> $
</TD>
<TD nowrap align="right" valign="top">
    19.75
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT face="wingdings">o</FONT> $
</TD>
<TD nowrap align="right" valign="top">
    20.75
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT face="wingdings">o</FONT> $
</TD>
<TD nowrap align="right" valign="top">
    21.75
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>
    $19.00
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT face="wingdings">o</FONT> $
</TD>
<TD nowrap align="right" valign="top">
    20.00
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT face="wingdings">o</FONT> $
</TD>
<TD nowrap align="right" valign="top">
    21.00
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT face="wingdings">o</FONT> $
</TD>
<TD nowrap align="right" valign="top">
    22.00
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt"><FONT face="wingdings">o</FONT>
    $19.25
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT face="wingdings">o</FONT> $
</TD>
<TD nowrap align="right" valign="top">
    20.25
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    <FONT face="wingdings">o</FONT> $
</TD>
<TD nowrap align="right" valign="top">
    21.25
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">You WILL
    NOT have validly tendered your shares<BR>
    unless you check ONE AND ONLY ONE BOX IN THIS PAGE.</FONT></B>
</DIV>
</DIV><!-- End box 1 -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="4%"></TD>
    <TD width="1%"></TD>
    <TD width="95%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <B>* </B></TD>
    <TD></TD>
    <TD valign="bottom">
    <B>Unless you indicate otherwise, we will assume that you are
    instructing us to tender all of the shares held by us for your
    account.</B></TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>CHECK <I>ONE AND ONLY ONE </I>BOX.&#160;&#160;IF YOU CHECK
    MORE THAN ONE BOX, OR IF YOU DO NOT CHECK ANY BOX, YOU WILL HAVE
    FAILED TO VALIDLY TENDER ANY SHARES.</B>
</DIV>
</DIV><!-- End box 1 -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    5
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">ODD
    LOTS<BR>
    (See Instruction&#160;6 of the letter of transmittal)</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    To be completed <B>only </B>if shares are being tendered by or
    on behalf of a person owning, beneficially or of record, an
    aggregate of fewer than 100&#160;shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="wingdings">o</FONT>&#160;</TD>
    <TD align="left">
    By checking this box, the undersigned represents that the
    undersigned owns beneficially or of record an aggregate of fewer
    than 100&#160;shares and is instructing the holder to tender all
    such shares.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>In addition, the undersigned is tendering shares either
    (check ONE box):</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="wingdings">o</FONT>&#160;
</TD>
    <TD align="left">    at the Purchase Price, which will be determined by Expedia in
    accordance with the terms of the tender offer (persons checking
    this box should check the first box on the previous page, under
    the heading &#147;Shares&#160;Tendered at Price Determined
    Pursuant to the Tender Offer&#148;); OR
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="wingdings">o</FONT>&#160;
</TD>
    <TD align="left">    at the price per share indicated on the previous page under
    &#147;Price (in Dollars) Per Share at Which Shares&#160;Are
    Being Tendered.&#148;
</TD>
</TR>

</TABLE>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=504 -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">CONDITIONAL
    TENDER<BR>
    (See Instruction&#160;11 of the letter of transmittal)</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    A tendering stockholder may condition such stockholder&#146;s
    tender of any shares upon the purchase by Expedia of a specified
    minimum number of the shares such stockholder tenders, as
    described in Section&#160;6 of the offer to purchase. Unless
    Expedia purchases at least the minimum number of shares you
    indicate below pursuant to the terms of the tender offer,
    Expedia will not purchase any of the shares tendered below. It
    is the tendering stockholder&#146;s responsibility to calculate
    that minimum number, and we urge each stockholder to consult his
    or her own tax advisor in doing so. Unless you check the box
    immediately below and specify, in the space provided, a minimum
    number of shares that Expedia must purchase if Expedia purchases
    any shares, Expedia will deem your tender unconditional.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="wingdings">o</FONT>&#160;</TD>
    <TD align="left">
    The minimum number of shares that Expedia must purchase if
    Expedia purchases any shares, is:
    <U>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</U>&#160;shares.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If, because of proration, Expedia will not purchase the minimum
    number of shares that you designate, Expedia may accept
    conditional tenders by random lot, if necessary. However, to be
    eligible for purchase by random lot, the tendering stockholder
    must have tendered all of his or her shares. To certify that you
    are tendering all of the shares you own, check the box below.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT face="wingdings">o</FONT>&#160;</TD>
    <TD align="left">
    The tendered shares represent all shares held by the undersigned.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>THE METHOD OF DELIVERY OF THIS DOCUMENT IS AT THE OPTION AND
    RISK OF THE TENDERING STOCKHOLDER. IF DELIVERY IS BY MAIL, WE
    RECOMMEND REGISTERED MAIL WITH RETURN RECEIPT REQUESTED,
    PROPERLY INSURED. IN ALL CASES, PLEASE ALLOW SUFFICIENT TIME TO
    ASSURE DELIVERY.</B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <FONT style="font-family: 'Times New Roman', Times">&#151;&#160;PLEASE
    SIGN ON THE NEXT PAGE&#160;&#151;
    </FONT>
</DIV>
</DIV><!-- End box 1 -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    6
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN LOGICAL PAGE -->
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">SIGNATURE</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Please Print</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="11%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <font style="white-space: nowrap">Signature(s):&#160;
    </FONT></TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=426 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <font style="white-space: nowrap">Names(s):&#160;
    </FONT></TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=436 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="44%"></TD>
    <TD width="56%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <font style="white-space: nowrap">Taxpayer Identification or
    Social Security Number:&#160;
    </FONT></TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=268 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="11%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <font style="white-space: nowrap">Address(es):&#160;
    </FONT></TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=427 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (include zip code)
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="28%"></TD>
    <TD width="72%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <font style="white-space: nowrap">Area Code&#160;&#38; Phone
    Number(s):&#160;
    </FONT></TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=345 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 12pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=480 length=0 -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <font style="white-space: nowrap">Date:&#160;
    </FONT></TD>
    <TD valign="bottom" align="left">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=125 iwidth=456 length=0 -->
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>
</DIV><!-- End box 1 -->
</DIV><!-- End box 1 -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    7
</DIV><!-- END LOGICAL PAGE -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.A.1.F
<SEQUENCE>7
<FILENAME>y27824exv99waw1wf.htm
<DESCRIPTION>EX-99.A.1.F: LETTER TO RETIREMENT SAVINGS PLAN PARTICIPANTS
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.A.1.F</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit
    (a)(1)(F)</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times; font-variant: SMALL-CAPS">IMMEDIATE
    ATTENTION REQUIRED</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    December&#160;11, 2006
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Re:&#160;Expedia,
    Inc. Tender Offer</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Dear Expedia Retirement Savings Plan Participant:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The enclosed tender offer materials and Direction Form require
    your immediate attention. Our records reflect that, as a
    participant in the Expedia Retirement Savings Plan (the
    &#147;Plan&#148;), all or a portion of your individual account
    is invested in the Expedia, Inc. Stock Fund (the &#147;Stock
    Fund&#148;). The tender offer materials describe an offer by
    Expedia, Inc. to purchase up to 30,000,000&#160;shares of its
    common stock, par value $.001&#160;per share (the
    &#147;Shares&#148;), at a price not greater than $18.50 nor less
    than $22.00&#160;per share, net to the seller in cash, without
    interest (the &#147;Offer&#148;). As described below, you have
    the right to instruct Fidelity Management Trust Company
    (&#147;Fidelity&#148;), as trustee of the Plan, concerning
    whether to tender Shares attributable to your individual account
    under the Plan. <B>You will need to complete the enclosed
    Direction Form and return it to Fidelity&#146;s tabulator in the
    enclosed return envelope so that it is RECEIVED by
    4:00&#160;p.m., New York City time, on Friday, January&#160;5,
    2007, unless the Offer is extended, in which case the deadline
    for receipt of instructions will be three business days prior to
    the expiration date of the Offer, if feasible.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The remainder of this letter summarizes the transaction, your
    rights under the Plan and the procedures for completing and
    submitting the Direction Form. You should also review the more
    detailed explanation provided in the Offer to Purchase, dated
    December&#160;11, 2006 (the &#147;Offer to Purchase&#148;),
    enclosed with this letter.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">BACKGROUND</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Expedia, Inc. (&#147;Expedia&#148;) has made an Offer to its
    stockholders to tender up to 30,000,000&#160;shares of its
    common stock, par value $.001&#160;per share, for purchase by
    Expedia at a price not greater than $18.50 nor less than
    $22.00&#160;per share, net to the seller in cash, without
    interest, upon the terms and subject to the conditions set forth
    in the enclosed Offer to Purchase. Expedia will select the
    lowest purchase price that will allow it to purchase
    30,000,000&#160;Shares or, if a lesser number of Shares are
    properly tendered, all Shares that are properly tendered and not
    withdrawn. All Shares acquired in the Offer will be acquired at
    the same purchase price regardless of whether the stockholder
    tendered at a lower price.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The enclosed Offer to Purchase sets forth the objectives, terms
    and conditions of the Offer and is being provided to all of
    Expedia&#146;s stockholders. To understand the Offer fully and
    for a more complete description of the terms and conditions of
    the Offer, you should carefully read the entire Offer to
    Purchase.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Offer extends to the Shares held by the Plan. As of
    December&#160;6, 2006, the Plan had approximately
    67,549&#160;Shares allocated to participant accounts. Only
    Fidelity, as trustee of the Plan, can tender these Shares in the
    Offer. Nonetheless, as a participant under the Plan, you have
    the right to direct Fidelity whether or not to tender some or
    all of the Shares attributable to your individual account in the
    Plan, and at what price or prices. Unless otherwise required by
    applicable law, Fidelity will tender Shares attributable to
    participant accounts in accordance with participant instructions
    and Fidelity will not tender Shares attributable to participant
    accounts for which it does not receive timely instructions.
    <B>If you do not complete the enclosed Direction Form and return
    it to Fidelity&#146;s tabulator on a timely basis, you will be
    deemed to have elected not to participate in the Offer and no
    Shares attributable to your Plan account will be tendered.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">LIMITATIONS
    ON FOLLOWING YOUR DIRECTION</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The enclosed Direction Form allows you to specify the percentage
    of the Shares attributable to your account that you wish to
    tender and the price or prices at which you want to tender
    Shares attributable to your account. As detailed below, when
    Fidelity tenders Shares on behalf of the Plan, they may be
    required to tender Shares on terms different than those set
    forth on your Direction Form.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Employee Retirement Income Security Act of 1974, as amended
    (&#147;ERISA&#148;), and the trust agreement between Expedia and
    Fidelity prohibit the sale of Shares to Expedia for less than
    &#147;adequate consideration&#148; which is defined by ERISA for
    a publicly traded security as the prevailing market price on a
    national securities exchange. Fidelity will determine
    &#147;adequate consideration,&#148; based on the prevailing or
    closing market price of the Shares on the New York Stock
    Exchange on or about the date the Shares are tendered by
    Fidelity (the &#147;prevailing market price&#148;). Accordingly,
    depending on the prevailing market price
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    of the Shares on such date, Fidelity may be unable to follow
    participant directions to tender Shares to Expedia at certain
    prices within the offered range. Fidelity will tender or not
    tender Shares as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="2%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If the prevailing market price is greater than the maximum
    tender price offered by Expedia ($22.00&#160;per Share),
    notwithstanding your direction to tender Shares in the Offer,
    the Shares will not be tendered.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If the prevailing market price is lower than the price at which
    you direct Shares be tendered, notwithstanding the lower closing
    market price, Fidelity will follow your direction both as to
    percentage of Shares to tender and as to the price at which such
    Shares are tendered.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If the prevailing market price is greater than the price at
    which you direct the Shares be tendered but within the range of
    $18.50 to $22.00, Fidelity will follow your direction regarding
    the percentage of Shares to be tendered, but will increase the
    price at which such Shares are to be tendered to the lowest
    tender price that is not less than prevailing market price.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If the prevailing market price is within the range of $18.50 to
    $22.00, for all shares directed to be tendered at the &#147;per
    Share purchase price to be determined pursuant to the tender
    offer&#148;, Fidelity will tender such Shares at the lowest
    tender price that is not less than the prevailing market price.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Unless otherwise required by applicable law, Fidelity will
    not tender Shares for which it has received no direction, or for
    which it has received a direction not to tender. Fidelity makes
    no recommendation as to whether to direct the tender of Shares
    or whether to refrain from directing the tender of Shares. EACH
    PARTICIPANT OR BENEFICIARY MUST MAKE HIS OR HER OWN
    DECISIONS.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">CONFIDENTIALITY</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    To assure the confidentiality of your decision, Fidelity and
    their affiliates or agents will tabulate the Direction Forms.
    Neither Fidelity nor their affiliates or agents will make your
    individual direction available to Expedia.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">PROCEDURE
    FOR DIRECTING TRUSTEE</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Enclosed is a Direction Form which should be completed and
    returned to Fidelity&#146;s tabulator. Please note that the
    Direction Form indicates the number of Shares attributable to
    your individual account as of December&#160;6, 2006. However,
    for purposes of the final tabulation, Fidelity will apply your
    instructions to the number of Shares attributable to your
    account as of January&#160;5, 2007, or as of a later date if the
    Offer is extended.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If you do not properly complete the Direction Form or do not
    return it by the deadline specified, such Shares will be
    considered NOT TENDERED.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    To properly complete your Direction Form, you must do the
    following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (1)&#160;On the face of the Direction Form, check Box&#160;1 or
    2. CHECK ONLY ONE BOX:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="2%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    CHECK BOX 1 if you do not want the Shares attributable to your
    individual account tendered for sale in accordance with the
    terms of the Offer and simply want the Plan to continue holding
    such Shares.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    CHECK BOX 2 in all other cases and complete the table
    immediately below Box&#160;2. Specify the percentage (in whole
    numbers) of Shares attributable to your individual account that
    you want to tender at each price indicated.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 9%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    You may direct the tender of Shares attributable to your account
    at different prices. To do so, you must state the percentage (in
    whole numbers) of Shares to be sold at each price by filling in
    the percentage of such Shares on the line immediately before the
    price. Also, you may elect to accept the per Share purchase
    price to be determined pursuant to the tender offer, which will
    result in receiving a price per Share as low as $18.50 or as
    high as $22.00. Leave a given line blank if you want no Shares
    tendered at that particular price. The total of the percentages
    you provide on the Direction Form may not exceed 100%, but it
    may be less than 100%. If this amount is less than 100%, you
    will be deemed to have instructed Fidelity NOT to tender the
    balance of the Shares attributable to your individual account.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (2)&#160;Date and sign the Direction Form in the space provided.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (3)&#160;Return the Direction Form in the enclosed return
    envelope so that it is received by Fidelity&#146;s tabulator at
    the address on the return envelope (P.O. Box&#160;9142, Hingham,
    MA 02043)&#160;not later than 4:00&#160;P.M., New York City
    time, on Friday, January&#160;5, 2007, unless the Offer is
    extended, in which case the participant deadline shall be three
    business days prior to the expiration date of the Offer, if
    feasible. If you wish to return the form by overnight courier,
    please send it to Fidelity&#146;s tabulator at Tabulator, 60
    Research Road, Hingham, MA 02043. Directions via facsimile will
    not be accepted.
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Your direction will be deemed irrevocable unless withdrawn by
    4:00&#160;p.m., New York City time, on Friday, January&#160;5,
    2007, unless the Offer is extended. In order to make an
    effective withdrawal, you must submit a new Direction Form which
    may be obtained by calling Fidelity at
    <FONT style="white-space: nowrap">(800)&#160;835-5095.</FONT>
    Upon receipt of a new, completed and signed Direction Form, your
    previous direction will be deemed canceled. You may direct the
    re-tendering of any Shares attributable to your individual
    account by obtaining an additional Direction Form from Fidelity
    and repeating the previous instructions for directing tender as
    set forth in this letter.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    After the deadline above for returning the Direction Form to
    Fidelity&#146;s tabulator, Fidelity and their affiliates or
    agents will complete the tabulation of all directions. Fidelity
    will tender the appropriate number of Shares on behalf of the
    Plan.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Expedia will then buy all Shares, up to 30,000,000, that were
    properly tendered through the Offer. If there is an excess of
    Shares tendered over the exact number desired by Expedia, Shares
    tendered pursuant to the Offer may be subject to proration, as
    described in the Offer to Purchase. Any Shares attributable to
    your account that are not purchased in the Offer will remain
    allocated to your individual account under the Plan.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The preferential treatment of holders of fewer than
    100&#160;Shares, as described in the Offer to Purchase, will not
    apply to participants in the Plan, regardless of the number of
    Shares held within their individual accounts. Likewise, the
    conditional tender of Shares, as described in the Offer to
    Purchase, will not apply to the participants in the Plan.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">EFFECT OF
    TENDER ON YOUR ACCOUNT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>If you direct Fidelity to tender some or all of the Shares
    attributable to your Plan account, as of 4:00&#160;p.m., New
    York City time, on January&#160;5, 2007, certain transactions
    involving the Stock Fund attributable to your account, including
    all exchanges out, loans, withdrawals and distributions, will be
    prohibited until all processing related to the Offer has been
    completed, unless the Offer is terminated or the completion date
    is extended.</B> (Balances in the Stock Fund will be utilized to
    calculate amounts eligible for loans and withdrawals throughout
    this freeze on the Stock Fund.) In the event that the Offer is
    extended, the freeze on transactions involving the Stock Fund
    will, if feasible, be temporarily lifted until three days prior
    to the new completion date of the Offer, as extended, at which
    time a new freeze on these transactions involving the Stock Fund
    will commence. You can call Fidelity at
    <FONT style="white-space: nowrap">(800)&#160;835-5095</FONT>
    to obtain updated information on expiration dates, deadlines and
    Stock Fund freezes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If you directed Fidelity to NOT tender any of the Shares
    attributable to your account or you did not return your Trustee
    Direction Form in a timely manner, you will continue to have
    access to all transactions normally available to the Stock Fund,
    subject to Plan rules.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">INVESTMENT
    OF PROCEEDS</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    For any Shares in the Plan that are tendered and purchased by
    Expedia, Expedia will pay cash to the Plan. INDIVIDUAL
    PARTICIPANTS IN THE PLAN WILL NOT, HOWEVER, RECEIVE ANY CASH
    TENDER PROCEEDS DIRECTLY. ALL SUCH PROCEEDS WILL REMAIN IN THE
    PLAN AND MAY BE WITHDRAWN ONLY IN ACCORDANCE WITH THE TERMS OF
    THE PLAN.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Fidelity will invest proceeds received with respect to Shares
    attributable to your account in the Fidelity Freedom Income Fund
    as soon as administratively possible after receipt of proceeds.
    Fidelity anticipates that the processing of participant accounts
    will be completed five to seven business days after receipt of
    these proceeds. You may call Fidelity at
    <FONT style="white-space: nowrap">(800)&#160;835-5095</FONT>
    after the reinvestment is complete to learn the effect of the
    tender on your account or to have the proceeds from the sale of
    Shares which were invested in the Fidelity Freedom Income Fund
    invested in other investment options offered under the Plan.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">SHARES&#160;OUTSIDE
    THE PLAN</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If you hold Shares outside of the Plan, you will receive, under
    separate cover, Offer materials to be used to tender those
    Shares. <B>Those Offer materials may not be used to direct
    Fidelity to tender or not tender the Shares attributable to your
    individual account under the Plan.</B> Likewise, the tender of
    Shares attributable to your individual account under the Plan
    will not be effective with respect to Shares you hold outside of
    the Plan. The direction to tender or not tender Shares
    attributable to your individual account under the Plan may only
    be made in accordance with the procedures in this letter.
    Similarly, the enclosed Direction Form may not be used to tender
    Shares held outside of the Plan.
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">FURTHER
    INFORMATION</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If you require additional information concerning the procedure
    to tender Shares attributable to your individual account under
    the Plan, please contact Fidelity at
    <FONT style="white-space: nowrap">(800)&#160;835-5095.</FONT>
    If you require additional information concerning the terms and
    conditions of the Offer, please call MacKenzie Partners, Inc.,
    the Information Agent, toll free at
    <FONT style="white-space: nowrap">(800)&#160;322-2885.</FONT>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 45%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Sincerely,
</DIV>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 45%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Fidelity Management Trust Company
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.A.1.G
<SEQUENCE>8
<FILENAME>y27824exv99waw1wg.htm
<DESCRIPTION>EX-99.A.1.G: ELECTION FORM FOR RETIREMENT SAVINGS PLAN PARTICIPANTS
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.A.1.G</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit
    (a)(1)(G)</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>DIRECTION FORM</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>EXPEDIA, INC. TENDER OFFER</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 8pt">BEFORE COMPLETING THIS FORM,
    PLEASE READ CAREFULLY THE</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 8pt">ACCOMPANYING OFFER TO PURCHASE
    AND ALL OTHER ENCLOSED MATERIALS.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>



<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    PLEASE NOTE THAT IF YOU DO NOT SEND IN A PROPERLY COMPLETED,
    SIGNED DIRECTION FORM, OR IF SUCH DIRECTION FORM IS NOT RECEIVED
    BY 4:00 P.M., NEW YORK CITY TIME ON FRIDAY, JANUARY 5, 2007,
    UNLESS THE TENDER OFFER IS EXTENDED, THE SHARES ATTRIBUTABLE TO
    YOUR ACCOUNT UNDER THE PLAN WILL NOT BE TENDERED IN ACCORDANCE
    WITH THE TENDER OFFER, UNLESS OTHERWISE REQUIRED BY LAW.
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>



<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Fidelity Management Trust&#160;Company (&#147;Fidelity&#148;)
    makes no recommendation to any participant in the Expedia
    Retirement Savings Plan (the &#147;Plan&#148;) as to whether to
    tender or not, or at which prices. Your direction to Fidelity
    will be kept confidential.
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>



<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    This Direction Form, if properly signed, completed and received
    by Fidelity&#146;s tender offer tabulator in a timely manner,
    will supersede any previous Direction Form.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 0pt; margin-left: 68%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=455 length=0 -->

<DIV align="left" style="margin-left: 68%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT style="font-size: 7pt">Date
    </FONT>
</DIV>

<DIV style="margin-top: 20pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 0pt; margin-left: 68%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=455 length=0 -->

<DIV align="left" style="margin-left: 68%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT style="font-size: 7pt">Please Print Name
    </FONT>
</DIV>

<DIV style="margin-top: 20pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 0pt; margin-left: 68%; width: 100%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=455 length=0 -->

<DIV align="left" style="margin-left: 68%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT style="font-size: 7pt">Signature
    </FONT>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>As of December&#160;6, 2006, the number of Shares
    attributable to your account in the Plan is shown to the right
    of your address.</B>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In connection with the Offer to Purchase made by Expedia, Inc.,
    dated December&#160;11, 2006, I hereby instruct Fidelity to
    tender the shares attributable to my account under the Plan as
    of January&#160;5, 2007, unless a later deadline is announced,
    as follows (check only one box and complete):
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (CHECK BOX ONE OR TWO)
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="5%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT face="wingdings">o</FONT>&#160;&#160;1.&#160;
</TD>
    <TD align="left">
     Please refrain from tendering and continue to HOLD all Shares
    attributable to my individual account under the Plan.
</TD>
</TR>

<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT face="wingdings">o</FONT>&#160;&#160;2.&#160;
</TD>
    <TD align="left">
    Please TENDER Shares attributable to my individual account under
    the Plan in the percentage indicated below for each of the
    prices provided. A blank space before a given price will be
    taken to mean that no shares attributable to my account are to
    be tendered at that price. FILL IN THE TABLE BELOW ONLY IF YOU
    HAVE CHECKED BOX 2.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Percentage of Shares to be Tendered (The total of all
    percentages must be less than or equal to 100%. If the total is
    less than 100%, you will be deemed to have directed Fidelity NOT
    to tender the remaining percentage.)
</DIV>

<DIV style="margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="15%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="8%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="9%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="7%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="8%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
    <TD width="9%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="7%">&nbsp;</TD>	<!-- colindex=05 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="8%">&nbsp;</TD>	<!-- colindex=06 type=maindata -->
    <TD width="9%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="7%">&nbsp;</TD>	<!-- colindex=07 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="9%">&nbsp;</TD>	<!-- colindex=08 type=maindata -->
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 66%;border-bottom: 1pt solid #000000"></DIV><DIV style="text-indent:0pt"><!-- callerid=208 iwidth=36 length=24 --></DIV>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">% at $18.50
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 66%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=36 length=24 -->
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">% at $19.50
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 66%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=36 length=24 -->
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">% at $20.50
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 66%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=36 length=24 -->
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <FONT style="font-size: 8pt">% at $21.50
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 66%;border-bottom: 1pt solid #000000"></DIV><DIV style="text-indent:0pt"><!-- callerid=208 iwidth=36 length=24 --></DIV>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">% at $18.75
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 66%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=36 length=24 -->
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">% at $19.75
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 66%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=36 length=24 -->
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">% at $20.75
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 66%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=36 length=24 -->
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <FONT style="font-size: 8pt">% at $21.75
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 66%;border-bottom: 1pt solid #000000"></DIV><DIV style="text-indent:0pt"><!-- callerid=208 iwidth=36 length=24 --></DIV>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">% at $19.00
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 66%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=36 length=24 -->
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">% at $20.00
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 66%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=36 length=24 -->
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">% at $21.00
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 66%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=36 length=24 -->
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <FONT style="font-size: 8pt">% at $22.00
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 66%;border-bottom: 1pt solid #000000"></DIV><DIV style="text-indent:0pt"><!-- callerid=208 iwidth=36 length=24 --></DIV>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">% at $19.25
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 66%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=36 length=24 -->
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">% at $20.25
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 66%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=36 length=24 -->
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 8pt">% at $21.25
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <DIV style="font-size: 0pt; margin-left: 0%; width: 66%;border-bottom: 1pt solid #000000"></DIV><!-- callerid=208 iwidth=36 length=24 -->
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <FONT style="font-size: 8pt">% at TBD**
    </FONT>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    **&#160;</TD>
    <TD align="left">
    By entering a percentage on the % line at TBD, the undersigned
    is willing to accept the Purchase Price resulting from the Dutch
    Auction, for the percentage of shares elected. This could result
    in receiving a price per share as low as $18.50 or as high as
    $22.00 per share.
</TD>
</TR>

</TABLE>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.A.5.A
<SEQUENCE>9
<FILENAME>y27824exv99waw5wa.htm
<DESCRIPTION>EX-99.A.5.A: SUMMARY ADVERTISEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.A.5.A</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="right" style="font-size: 10pt; margin-top: 6pt">Exhibit&nbsp;(a)(5)(A)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>This announcement is neither an offer to purchase nor a solicitation of an offer to sell
shares. The offer is made solely by the offer to purchase, dated December&nbsp;11, 2006, and the related
letter of transmittal, and any amendments or supplements thereto. The tender offer is not being
made to, nor will tenders be accepted from or on behalf of, holders of shares in any jurisdiction
in which the making of the tender offer or the acceptance of any tender of shares would not be in
compliance with the laws of such jurisdiction.</I>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Notice of Offer to Purchase for Cash<BR>
by<BR>
Expedia, Inc.<BR>
Up to 30,000,000 shares of its Common Stock<BR>
At a Purchase Price Not Greater Than $22.00<BR>
Nor Less Than $18.50 Per Share</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expedia, Inc. a Delaware corporation (&#147;Expedia&#148;), is offering to purchase for cash up to
30,000,000 shares of its common stock, par value $.001 per share (the &#147;shares&#148;), upon the terms and
subject to the conditions set forth in the offer to purchase, dated December&nbsp;11, 2006, and in the
related letter of transmittal, as they may be amended and supplemented from time to time. Expedia
is inviting its stockholders to tender their shares at prices specified by the tendering
stockholder that are not greater than $22.00 nor less than $18.50 per share, net to the seller in
cash, without interest, upon the terms and subject to the conditions of the tender offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>The tender offer is not conditioned on any minimum number of shares being tendered. The tender
offer is, however, subject to other conditions set forth in the offer to purchase and the related
letter of transmittal.</B>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>THE TENDER OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY
TIME, ON WEDNESDAY, JANUARY 10, 2007, UNLESS EXPEDIA EXTENDS THE TENDER OFFER.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>The Board of Directors of Expedia has approved the tender offer. However, neither Expedia nor
its Board of Directors makes any recommendation to its stockholders as to whether to tender or
refrain from tendering their shares or as to the price or prices at which stockholders may choose
to tender their shares. Stockholders must make their own decisions as to whether to tender their
shares and, if so, how many shares to tender and the price or prices at which to tender their
shares. In so doing, stockholders should read carefully the information in the offer to purchase
and in the related letter of transmittal, including Expedia&#146;s reasons for making the tender offer.
Expedia&#146;s directors and executive officers and Liberty Media Corporation have advised Expedia that
they do not intend to tender any shares in the tender offer.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expedia will, upon the terms and subject to the conditions of the tender offer, determine the
single per share price, not greater than $22.00 nor less than $18.50 per share, net to the seller
in cash, without interest, that it will pay for shares properly tendered and not properly withdrawn
in the tender offer, taking into account the total number of shares so tendered and the prices
specified by the tendering stockholders. Expedia will select the lowest purchase price that will
allow Expedia to purchase 30,000,000 shares, or such fewer number of shares as are properly
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">tendered and not properly withdrawn, at prices not greater than $22.00 nor less than $18.50
per share. Expedia will purchase at the purchase price all shares properly tendered at prices at or
below the purchase price and not properly withdrawn, on the terms and subject to the conditions of
the tender offer, including the &#147;odd lot,&#148; proration and conditional tender provisions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under no circumstances will Expedia pay interest on the purchase price for the shares,
regardless of any delay in making payment. Expedia will acquire all shares acquired in the tender
offer at the purchase price regardless of whether the stockholder tendered at a lower price. The
term &#147;expiration date&#148; means 5:00 p.m., New York City time, on Wednesday, January&nbsp;10, 2007, unless
and until Expedia, in its sole discretion, shall have extended the period of time during which the
tender offer will remain open, in which event the term &#147;expiration date&#148; shall refer to the latest
time and date at which the tender offer, as so extended by Expedia, shall expire. Expedia expressly
reserves the right, in its sole discretion, to purchase more than 30,000,000 shares under the
tender offer, subject to applicable law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For purposes of the tender offer, Expedia will be deemed to have accepted for payment, and
therefore purchased, shares properly tendered at or below the purchase price and not properly
withdrawn, subject to the odd lot, proration and conditional tender provisions of the tender offer,
only when, as and if Expedia gives oral or written notice to The Bank of New York, the depositary
for the tender offer, of its acceptance of the shares for payment under the tender offer. Expedia
will make payment for shares tendered and accepted for payment under the tender offer only after
the depositary timely receives share certificates or a timely confirmation of the book-entry
transfer of the shares into the depositary&#146;s account at the book-entry transfer facility, a
properly completed and duly executed letter of transmittal, or an &#147;agent&#146;s message&#148; (as defined in
the offer to purchase) in the case of a book-entry transfer, and any other documents required by
the letter of transmittal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the terms and subject to the conditions of the tender offer, if more than 30,000,000
shares, or such greater number of shares as Expedia may elect to purchase, subject to applicable
law, have been properly tendered, and not properly withdrawn, prior to the expiration date at
prices at or below the purchase price, Expedia will purchase properly tendered shares on the
following basis:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>first, from all holders of &#147;odd lots&#148; (holders of less than 100 shares) who properly
tender all their shares at or below the purchase price selected by Expedia and do not
properly withdraw them before the expiration date;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>second, on a pro rata basis from all other stockholders who properly tender shares at or
below the purchase price selected by Expedia, other than stockholders who tender
conditionally and whose conditions are not satisfied; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>third, only if necessary to permit Expedia to purchase 30,000,000 shares (or such
greater number of shares as Expedia may elect to purchase, subject to applicable law) from
holders who have tendered shares at or below the purchase price subject to the condition
that Expedia purchase a specified minimum number of the holder&#146;s shares if Expedia
purchases any of the holder&#146;s shares in the tender offer (for which the condition was not
initially satisfied) by random lot, to the extent feasible. To be eligible for purchase by</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>random lot, stockholders that conditionally tender their shares must have tendered all of
their shares.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expedia will return to the tendering stockholders shares that it does not purchase in the
tender offer at Expedia&#146;s expense as promptly as practicable after the expiration date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expedia expressly reserves the right, in its sole discretion, at any time and from time to
time, to extend the period of time during which the tender offer is open and thereby delay
acceptance for payment of, and payment for, any shares by giving oral or written notice of the
extension to the depositary and making a public announcement of the extension no later than 9:00
a.m., New York City time, on the next business day after the last previously scheduled or announced
expiration date. During any such extension, all shares previously tendered and not properly
withdrawn will remain subject to the tender offer and to the right of a tendering stockholder to
withdraw such stockholder&#146;s shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expedia believes that the tender offer is a prudent use of its financial resources given its
business profile, capital structure, assets and the current market price of its shares, and that
investing in its own shares is an attractive use of capital and an efficient means to provide value
to its stockholders. The tender offer represents the opportunity for Expedia to return cash to
stockholders who elect to tender their shares, while at the same time increasing non-tendering
stockholders&#146; proportionate interest in Expedia.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Generally, a stockholder will be subject to U.S. federal income taxation when the stockholder
receives cash from Expedia in exchange for the shares that the stockholder tenders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stockholders may withdraw shares tendered under the tender offer at any time prior to the
expiration date. Thereafter, such tenders are irrevocable, except that they may be withdrawn after
12:00 Midnight, New York City time, on Wednesday, February&nbsp;7, 2007 unless theretofore accepted for
payment as provided in the offer to purchase. For a withdrawal to be effective, The Bank of New
York must timely receive a written or facsimile transmission notice of withdrawal at its address
set forth on the back cover page of the offer to purchase. Any such notice of withdrawal must
specify the name of the tendering stockholder, the number of shares that the stockholder wishes to
withdraw and the name of the registered holder of the shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the share certificates to be withdrawn have been delivered or otherwise identified to the
depositary, then, before the release of the share certificates, the serial numbers shown on the
share certificates must be submitted to the depositary and the signature(s) on the notice of
withdrawal must be guaranteed by an &#147;eligible guarantor institution&#148; (as defined in the offer to
purchase), unless the shares have been tendered for the account of an eligible guarantor
institution. If shares have been tendered pursuant to the procedure for book-entry transfer set
forth in the offer to purchase, any notice of withdrawal also must specify the name and the number
of the account at the book-entry transfer facility to be credited with the withdrawn shares and
must otherwise comply with the book-entry transfer facility&#146;s procedures.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expedia will determine all questions as to the form and validity, including the time of
receipt, of any notice of withdrawal, in its sole discretion, and such determination will be final
and binding. None of Expedia, The Bank of New York, as the depositary, MacKenzie Partners,
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Inc., as the information agent, or any other person will be under any duty to give
notification of any defects or irregularities in any tender or notice of withdrawal or incur any
liability for failure to give any such notification.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information required to be disclosed by Rule&nbsp;13e-4(d)(1) under the Securities Exchange Act
of 1934, as amended, is contained in the offer to purchase and is incorporated herein by reference.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are mailing promptly the offer to purchase and the related letter of transmittal to record
holders of shares and will furnish the offer to purchase and letter of transmittal to brokers,
dealers, commercial banks, trust companies and similar persons whose names, or the names of whose
nominees, appear on Expedia&#146;s stockholder list or, if applicable, that are listed as participants
in a clearing agency&#146;s security position listing for subsequent transmittal to beneficial owners of
shares. Holders of exercisable warrants for shares and holders of Expedia's preferred stock may exercise such warrants or convert such preferred stock in accordance with their
respective terms, and tender the shares received upon exercise or conversion in accordance with the tender offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>The offer to purchase and the related letter of transmittal contain important information that
stockholders should read carefully before making any decision with respect to the tender offer.</B>
Stockholders may obtain additional copies of the offer to purchase and the letter of transmittal
from the information agent at the address and telephone number set forth below. The information
agent will promptly furnish to stockholders additional copies of these materials at Expedia&#146;s
expense.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Please direct any questions or requests for assistance to the information agent at its
telephone number and address set forth below. Stockholders may also contact their broker, dealer,
commercial bank, trust company or nominee for assistance concerning the tender offer. To confirm
delivery of shares, please contact the depositary.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">The Information Agent for the tender offer is:
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y27824mackenzi.jpg" alt="(MACKENZIE LOGO)">
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 18pt">105 Madison Avenue<BR>
New York, New York 10016<BR>
(212)&nbsp;929-5500 (call collect)<BR>
E-mail: proxy@mackenziepartners.com<BR>
or<BR>
<B>Call Toll Free (800)&nbsp;322-2885</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">December&nbsp;11, 2006
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.A.5.B
<SEQUENCE>10
<FILENAME>y27824exv99waw5wb.htm
<DESCRIPTION>EX-99.A.5.B: LETTER TO STOCKHOLDERS
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.A.5.B</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><U><FONT style="font-family: 'Times New Roman', Times">Exhibit
    (a)(5)(B)</FONT></U></B>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <IMG src="y27824y2782400.gif" alt="EXPEDIA LOGO" ><B> </B>
</DIV>



<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Expedia,
    Inc.</FONT></I></B>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <B><I>&#160;&#160;</I></B></TD>
    <TD align="left">
    <B>3150 139th&#160;Avenue S.E.</B>
</TD>
</TR>

</TABLE>

<DIV align="left" style="margin-left: 1%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Bellevue, WA 98005</B>
</DIV>

<DIV align="left" style="margin-left: 1%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Telephone:
    <FONT style="white-space: nowrap">(425)&#160;679-7200</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Dara Khosrowshahi</I>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Chief Executive Officer</I>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <FONT style="font-family: 'Times New Roman', Times">December&#160;11,
    2006
    </FONT>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    To Our Stockholders:
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    As described in the enclosed materials, Expedia, Inc.
    (&#147;Expedia&#148;) is offering to purchase up to
    30,000,000&#160;shares of its common stock, or such lesser
    number of shares as are properly tendered.
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The price paid by Expedia will not be greater than $22.00 nor
    less than $18.50 per share, net to the seller in cash, without
    interest. Expedia is conducting the offer through a procedure
    commonly referred to as a &#147;Dutch auction&#148; tender
    offer. This procedure allows you to select the price within the
    $18.50 to $22.00 price range at which you are willing to sell
    your shares to Expedia. Alternatively, this procedure allows you
    to sell all or a portion of your shares to Expedia at the
    purchase price to be determined by Expedia in accordance with
    the terms of the tender offer. Choosing the latter alternative
    could result in your receipt of a price per share as low as
    $18.50. All shares that Expedia purchases under the tender offer
    will be purchased at the same price. You may tender all or only
    a portion of your shares upon the terms and subject to the
    conditions of the tender offer, including the odd lot, proration
    and conditional tender provisions.
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Based upon the number of shares tendered and the prices
    specified by the tendering stockholders, Expedia will determine
    the lowest single price (the &#147;Purchase Price&#148;) within
    the $18.50 to $22.00 range that will allow it to buy
    30,000,000&#160;shares, or such fewer number of shares as are
    properly tendered. Expedia will pay tendering stockholders the
    Purchase Price in cash, for all of the shares that are properly
    tendered at or below the Purchase Price, subject to possible
    proration and the provisions relating to the tender of odd lots
    and conditional tenders described in the enclosed offer to
    purchase. Any stockholder whose shares are properly tendered
    directly to The Bank of New York, the depositary in the tender
    offer, and thereafter purchased by Expedia pursuant to the
    tender offer, will receive the net aggregate Purchase Price in
    cash, without interest, as promptly as practicable after the
    expiration of the tender offer, thus avoiding the usual
    transaction costs associated with open market sales. If you hold
    shares through a broker or bank, you should consult your broker
    or bank to determine whether any transaction costs apply.
    Stockholders that own fewer than 100&#160;shares should note
    that the tender offer represents an opportunity for them to sell
    their shares without reduction for any odd lot discounts.
    Tendered shares that Expedia does not purchase will be returned
    to the tendering stockholder as promptly as practicable.
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If you do not wish to participate in the tender offer, you do
    not need to take any action.
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We explain the terms and conditions of the tender offer in
    detail in the enclosed offer to purchase and the related letter
    of transmittal. <B>I encourage you to read these materials
    carefully before making any decision with respect to the tender
    offer. If you want to tender your shares, we explain the
    necessary steps in detail in the enclosed materials.</B>
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>The Board of Directors of Expedia has approved the tender
    offer. However, neither Expedia nor its Board of Directors makes
    any recommendation to you as to whether you should tender or
    refrain from tendering your shares or as to the price or prices
    at which you may choose to tender your shares. You must make
    your own decision as to whether to tender your shares and, if
    so, how many shares to tender and the price or prices at which
    you wish to tender your shares. Expedia&#146;s directors and
    executive officers and Liberty Media Corporation have advised
    Expedia that they do not intend to tender any shares in the
    tender offer.</B>
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The tender offer will expire at 5:00&#160;p.m., New York City
    time, on Wednesday, January&#160;10, 2007, unless Expedia
    extends the tender offer. If you have any questions regarding
    the tender offer or need assistance in tendering your shares,
    please contact MacKenzie Partners, Inc., the information agent
    for the tender offer, at
    <FONT style="white-space: nowrap">1-800-322-2885</FONT>
    or (212)&#160;929-5500.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 45%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Sincerely,
</DIV>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 45%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <IMG src="y27824x1983703.gif" alt="(DARA KHOSROWSHAHI SIG)" >
</DIV>

<DIV align="left" style="margin-left: 45%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Dara Khosrowshahi
</DIV>

<DIV align="left" style="margin-left: 45%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Chief Executive Officer
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
</BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.A.5.C
<SEQUENCE>11
<FILENAME>y27824exv99waw5wc.htm
<DESCRIPTION>EX-99.A.5.C: PRESS RELEASE
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.A.5.C</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 6pt"><B>Exhibit (a)(5)(C)</b>





<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Expedia, Inc. to Repurchase up to 30 Million of its Common Shares In Tender Offer</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Bellevue, Wash. </B>&#151; Expedia, Inc. (NASDAQ: EXPE) announced today that it will repurchase up to
30&nbsp;million shares of its common stock in a tender offer at a price per share not less than $18.50
and not greater than $22.00. This represents the repurchase of approximately 9.8% of the number of
shares of common stock currently outstanding and 9.1% of the total number of shares of common stock
and Class&nbsp;B common stock outstanding. The tender offer is expected to commence on December&nbsp;11,
2006 and to expire, unless extended, at 5:00 p.m., New York City time, on January&nbsp;10, 2007. A
modified &#147;Dutch auction&#148; will allow stockholders to indicate how many shares and at what price
within the company&#146;s specified range they wish to tender. Based on the number of shares tendered
and the prices specified by the tendering stockholders, the company will determine the lowest price
per share within the range that will enable it to purchase 30&nbsp;million shares, or such lesser
number of shares as are properly tendered. The company will not purchase shares below a price
stipulated by a stockholder, and in some cases, may actually purchase shares at prices above a
stockholder&#146;s indication under the terms of the modified &#147;Dutch auction.&#148; Expedia, Inc.&#146;s
directors and executive officers and Liberty Media Corporation have advised the company that they
do not intend to tender any shares in the tender offer.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Specific instructions and a complete explanation of the terms and conditions of the tender
offer will be contained in the Offer to Purchase and related materials that will be mailed to
stockholders of record beginning on or about December&nbsp;13, 2006. MacKenzie Partners, Inc. will
serve as information agent and The Bank of New York will serve as the depositary.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This press release is for informational purposes only and is not an offer to buy or the
solicitation of an offer to sell any shares of the company&#146;s common stock. The solicitation and
offer to buy the company&#146;s common stock will only be made pursuant to the Offer to Purchase and
related materials that the company will send to its stockholders. Stockholders should read those
materials carefully because they will contain important information, including the various terms
and conditions of the tender offer. Stockholders will be able to obtain copies of the Offer to
Purchase, related materials filed by the company as part of the statement on Schedule &#147;TO&#148; and
other documents filed with the Securities and Exchange Commission through the Commission&#146;s internet
address at <U>http://www.sec.gov</U> without charge when these documents become available. Stockholders
and investors may also obtain a copy of these documents, as well as any other documents the company
has filed with the Securities and Exchange Commission, without charge, from the company or at the
Investor Relations section of the company&#146;s website:
<U>www.expediainc.com</U>. Stockholders are urged to
carefully read these materials prior to making any decision with respect to the offer.
Stockholders and investors who have questions or need assistance may call MacKenzie Partners, Inc.
at 1-800-322-2885
in the United States and Canada, and &#043;1-212-929-5500 for all other countries.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>About Expedia, Inc.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expedia, Inc. is the world&#146;s leading online travel company, empowering business and leisure
travelers with the tools and information they need to easily research, plan, book, and
experience travel. Expedia, Inc. also provides wholesale travel to offline retail travel agents.
Expedia, Inc.&#146;s portfolio of brands includes: Expedia.com&#174;, hotels.com&#174;, Hotwire&#174;, Expedia&#174;
Corporate Travel, TripAdvisor&#153; and Classic Vacations&#174;. Expedia, Inc.&#146;s companies also operate
internationally with sites in Canada, the United Kingdom, Germany, France, Italy, the Netherlands,
Australia, Japan and China, through its investment in eLong&#153;. For more information, visit
http://www.expediainc.com/ (NASDAQ: EXPE).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Forward-Looking Statements</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>This press release contains forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, regarding Expedia, Inc.&#146;s intention to repurchase up to
30&nbsp;million shares of its common stock. These statements are subject to a variety of risks and
uncertainties including Expedia, Inc.&#146;s ability to consummate the repurchase. Additional
cautionary statements regarding other risk factors that could have an effect on the future
performance of Expedia, Inc. are contained in its filings with the SEC, including its reports on
Forms 10-K and 10-Q. Expedia, Inc. undertakes no obligation to release publicly the results of any
revisions to these forward-looking statements that may be made to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated events.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Contacts</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 3%; margin-top: 6pt">MacKenzie Partners, Inc.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 3%; margin-top: 6pt">United States and Canada: 1-800-322-2885<BR>
All other countries: &#043;1-212-929-5500
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">December&nbsp;8, 2006
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Expedia and Expedia.com are either registered trademarks or trademarks of Expedia, Inc. in the
U.S. and/or other countries. Other logos or product and company names mentioned herein may be the
property of their respective owners.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#169; 2006 Expedia, Inc. All rights reserved. CST 2029030-40.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>


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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.B.2
<SEQUENCE>12
<FILENAME>y27824exv99wbw2.htm
<DESCRIPTION>EX-99.B.2: FIRST AMENDMENT TO THE CREDIT AGREEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.B.2</TITLE>
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<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit (b)(2)</B>
</DIV>
<DIV align="right" style="font-size: 10pt; margin-top: 12pt">EXECUTION COPY
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 18pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FIRST AMENDMENT, dated as of December&nbsp;7, 2006 (this
&#147;<U>Amendment</U>&#148;), to the CREDIT AGREEMENT dated as of July&nbsp;8, 2005 (as
amended, restated, supplemented or otherwise modified from time to time,
the &#147;<U>Credit Agreement</U>&#148;), among EXPEDIA, INC., a Delaware
corporation; EXPEDIA, INC., a Washington corporation; TRAVELSCAPE, LLC, a
Nevada limited liability company (successor to TRAVELSCAPE, INC., a Nevada
corporation); HOTELS.COM, a Delaware corporation; HOTWIRE, INC., a
Delaware corporation; the other Borrowing Subsidiaries from time to time
party thereto; the Lenders from time to time party thereto; JPMORGAN CHASE
BANK, N.A., as Administrative Agent; and J.P. Morgan Europe Limited, as
London Agent.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">WITNESSETH:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Lenders have agreed to extend credit to the Borrowers under the Credit Agreement
on the terms and subject to the conditions set forth therein; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Company has requested that the Lenders amend certain provisions of the Credit
Agreement and the Lenders under the Credit Agreement whose signatures appear below, constituting at
least the Required Lenders, are willing to amend the Credit Agreement on the terms and subject to
the conditions set forth herein;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and
valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties
hereto hereby agree as follows:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1. <U>Defined Terms.</U> Capitalized terms used but not otherwise defined herein
(including in the preamble hereto) have the meanings assigned to them in the Credit Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 2. <U>Amendment of Section&nbsp;6.05.</U> Section&nbsp;6.05 of the Credit Agreement is hereby
amended in its entirety to read as follows (such amendment to be given effect as of July&nbsp;8, 2005,
as if the Credit Agreement as originally executed had contained the amended section):
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;SECTION 6.05. <U>Restricted Payments.</U> The Company will not, and will not permit any of
the Subsidiaries to, declare or make, or agree to pay or make, directly or indirectly, any
Restricted Payment, except that (a)&nbsp;the Company may declare and pay dividends with respect to its
Equity Interests payable solely in additional shares of its common stock, (b)&nbsp;Subsidiaries may
declare and pay dividends ratably with respect to their Equity Interests, (c)&nbsp;the Company may make
Restricted Payments pursuant to and in accordance with stock option plans or other benefit plans
for management or employees of the Company and the Subsidiaries and (d)&nbsp;the Company may declare or
make, or agree to make, so long as no Default or Event of Default shall exist, and, if declared or
agreed
</DIV>

</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">to be made in accordance with this clause (d), may make, Restricted Payments in an aggregate
amount during any fiscal year not to exceed, when taken together with all other Restricted Payments
made or agreed to be made under this clause (d)&nbsp;during the term of this Agreement, 50% of the
Company&#146;s cumulative Consolidated Net Income for each fiscal quarter of the Company for which
financial statements shall have been delivered under Section&nbsp;5.01(a) or (b)&nbsp;commencing with the
first full fiscal quarter after the consummation of the Spin-Off; <U>provided</U>,
<U>however</U>, that so long as no Default or Event of Default shall exist or would be caused
thereby, the Company may make Restricted Payments without limitation if the Leverage Ratio as of
the end of the most recently completed fiscal quarter, giving pro forma effect to such Restricted
Payments and any related incurrence of Indebtedness as if they had occurred on the last day of such
quarter, shall have been equal to or less than 2.0 to 1.0.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 3. <U>Representations, Warranties and Agreements.</U> The Company, as to itself and
each of the Subsidiaries, hereby represents and warrants to and agrees with each Lender and the
Agents that:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The representations and warranties set forth in Article&nbsp;III of the Credit Agreement, as
amended hereby, are true and correct in all material respects on and as of the Amendment Effective
Date (as defined below) and after giving effect to this Amendment, with the same effect as if made
on and as of such date, except to the extent such representations and warranties expressly relate
to an earlier date, in which case they were true and correct as of such earlier date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;As of the Amendment Effective Date, after giving effect to this Amendment, no Default or
Event of Default has occurred and is continuing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 4. <U>Effectiveness.</U> This Amendment shall become effective as of the date (the
&#147;<U>Amendment Effective Date</U>&#148;) on which the Administrative Agent shall have received duly
executed counterparts hereof that, when taken together, bear the authorized signatures of the
Company and Lenders constituting at least the Required Lenders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 5. <U>Credit Agreement.</U> Except as specifically stated herein, the Credit
Agreement shall continue in full force and effect in accordance with the provisions thereof. As
used therein, the terms &#147;Agreement&#148;, &#147;herein&#148;, &#147;hereunder&#148;, &#147;hereto&#148;, &#147;hereof&#148; and words of similar
import shall, unless the context otherwise requires, refer to the Credit Agreement as modified
hereby.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>SECTION 6. </B><U><B>Applicable Law.</B></U><B> THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 7. <U>Counterparts.</U> This Amendment may be executed in counterparts (and by
different parties hereto on different counterparts), each of which shall constitute an original but
all of which, when taken together, shall constitute a single
</DIV>

</DIV>

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<P align="right" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">instrument. Delivery of an executed counterpart of a signature page of this Amendment by
telecopy shall be effective as delivery of a manually executed counterpart hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 8. <U>Expenses.</U> The Company agrees to reimburse the Administrative Agent for
its reasonable out-of-pocket expenses in connection with this Amendment, including the reasonable
fees, charges and disbursements of Cravath, Swaine &#038; Moore LLP, counsel for the Administrative
Agent.
</DIV>

</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be duly executed by
their respective authorized officers as of the date first above written.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">

<TR>
    <TD width="45%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
</TR>


<TR>
    <TD align="left">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
</TR>


<TR>
    <TD align="left">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
</TR>


<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">EXPEDIA, INC., a Delaware corporation,<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">by:</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Bret Myers</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;</TD>
    <TD align="left">Bret Myers</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;</TD>
    <TD align="left">Vice President and Treasurer</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="45%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="4" align="left">JPMORGAN CHASE BANK,
N.A., individually and as
Administrative Agent,<BR>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">by:</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Peter B. Thauer</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Peter B. Thauer</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Vice President</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">





<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To approve the First Amendment to the Expedia, Inc. Credit Agreement:
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>

    <TD colspan="4" align="left">Name of Institution:</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">
Bank of America N.A.</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">by:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Thomas J. Kone
</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
   <TD valign="top">Name:&nbsp;&nbsp;Thomas J. Kone</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;Senior Vice President</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">by:&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="right"> <SUP style="font-size: 85%; vertical-align: text-top">1</SUP>
</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
   <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P>&nbsp;<P>
<P>&nbsp;<P>
<P>&nbsp;<P>
<P>&nbsp;<P>
<P>&nbsp;<P>
<P>&nbsp;<P>
<P>&nbsp;<P>
<P>&nbsp;<P>
<P>&nbsp;<P>
<P>&nbsp;<P>
<P>&nbsp;<P>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
</TR>

<TR valign="bottom">
<TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">1</SUP> For any institution requiring a second signature
line.</TD>
</TR>

</TABLE>




<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
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<DIV style="font-family: 'Times New Roman',Times,serif">





<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To approve the First Amendment to the Expedia, Inc. Credit Agreement:
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>

    <TD colspan="4" align="left">Name of Institution:</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="2" align="left">
Wachovia Bank N.A.</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">by:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Scott Sudreth
</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
   <TD valign="top">Name:&nbsp;&nbsp;Scott Sudreth</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;Vice President</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>



<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To approve the First Amendment to the Expedia, Inc. Credit Agreement:
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>

    <TD colspan="4" align="left">Name of Institution:</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="2" align="left">
The Royal Bank of Scotland plc</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">by:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Bruce Ferguson
</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
   <TD valign="top">Name:&nbsp;&nbsp;Bruce Ferguson</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;Managing Director</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To approve the First Amendment to the Expedia, Inc. Credit Agreement:
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>

    <TD colspan="4" align="left">Name of Institution:</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="2" align="left">
HSBC Bank USA, N.A.</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">by:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Darren Pinsker
</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
   <TD valign="top">Name:&nbsp;&nbsp;Darren Pinsker</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;Senior Vice President</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>



<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>
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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To approve the First Amendment to the Expedia, Inc. Credit Agreement:
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>

    <TD colspan="4" align="left">Name of Institution:</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="2" align="left">
BNP Paribas</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">by:&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Richard Paue
</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
   <TD valign="top">Name:&nbsp;&nbsp;Richard Paue</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;Managing Director</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">by:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Nanette Baudon
</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
   <TD valign="top">Name:&nbsp;&nbsp;Nanette Baudon</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;Vice President</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>





<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">





<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To approve the First Amendment to the Expedia, Inc. Credit Agreement:
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>

    <TD colspan="4" align="left">Name of Institution:</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="2" align="left">
Societe Generale</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">by:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Nigel Elvey
</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
   <TD valign="top">Name:&nbsp;&nbsp;Nigel Elvey</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;Vice President</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>






<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">







<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To approve the First Amendment to the Expedia, Inc. Credit Agreement:
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>

    <TD colspan="4" align="left">Name of Institution:</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="2" align="left">
U.S. Bank National Association</TD>
</TR>

</TABLE>

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<TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">by:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ David M. Purcell
</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
   <TD valign="top">Name:&nbsp;&nbsp;David M. Purcell</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;Vice President</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>






<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.D.22
<SEQUENCE>13
<FILENAME>y27824exv99wdw22.htm
<DESCRIPTION>EX-99.D.22: RETIREMENT SAVINGS PLAN
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.D.22</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B><u>Exhibit (d)(22)</u></B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><FONT style="font-variant: SMALL-CAPS"><B>Expedia Retirement Savings Plan</B></FONT>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">(Effective on the Distribution Date)
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">





<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B><U>TABLE OF CONTENTS</U></B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><BR>
<B><U>Page</U></B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="16%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="75%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">ARTICLE I</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">DEFINITIONS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">ARTICLE II</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">SERVICE</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">ARTICLE III</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">ELIGIBILITY</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">ARTICLE IV</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">CONTRIBUTIONS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">ARTICLE V</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">VESTING AND FORFEITURES</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">ARTICLE VI</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">ALLOCATION</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">ARTICLE VII</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">DISTRIBUTIONS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">ARTICLE VIII</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">MINIMUM DISTRIBUTION REQUIREMENTS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">37</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">ARTICLE IX</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">IN-SERVICE WITHDRAWALS AND LOANS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">43</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">ARTICLE X</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">VOTING AND OTHER RIGHTS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">48</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">ARTICLE XI</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">PAYMENT OF BENEFITS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">50</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">ARTICLE XII</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">ADMINISTRATION OF THE PLAN</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">51</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">ARTICLE XIII</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">FUNDING OF PLAN</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">58</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">ARTICLE XIV</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">AMENDMENT OF THE PLAN</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">59</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">ARTICLE XV</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">TERMINATION OF THE PLAN</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">60</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">ARTICLE XVI</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">PROVISIONS RELATING TO TOP-HEAVY PLAN</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">61</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">ARTICLE XVII</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">MISCELLANEOUS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">66</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">ARTICLE XVIII</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">ADOPTION OF PLAN BY AFFILIATE</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">68</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">EXHIBIT A</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">ADOPTING EMPLOYERS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">A-1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">EXHIBIT B</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">SPECIAL VESTING PROVISIONS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">B-1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">EXHIBIT C</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">SPECIAL RULES REGARDING CERTAIN TRANSFERRED</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">PARTICIPANTS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">C-1</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;i&nbsp;
</DIV>



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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B><U>PREFACE</U></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It is the purpose of this Plan to provide a means of providing retirement and other benefits
to employees of Expedia, Inc. (the &#147;Company&#148;) and certain related companies and to provide
employees with a means to save for their retirement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The provisions of the Plan are effective on the date of the pro rata distribution (or
spin-off) (the &#147;Distribution Date&#148;) of all of the outstanding shares of common stock of Expedia,
Inc., a Delaware corporation (&#147;Expedia Parent&#148;) to the stockholders of IAC/InterActiveCorp.
Immediately prior to the Distribution Date, the Company was a whollyowned subsidiary of
IAC/InterActiveCorp. As a result of the foregoing corporate transactions and as soon as
practicable after the Distribution Date, the assets and liabilities of the account balances in
IAC/InterActiveCorp. Retirement Savings Plan (&#147;Prior Plan&#148;) attributable to the individuals who, as
of the day immediately prior to the Distribution Date, had been active and former employees of
Expedia Parent and its subsidiaries or designated employees, of IAC/InterActiveCorp who will become
Employees of the Company or its Affiliates, will be transferred to the Plan in a trust-to-trust
transfer of assets and liabilities (&#147;Trust-to-Trust Transfer&#148;) in accordance with the requirements
of Treasury Regulation&nbsp;Section&nbsp;1.414(1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Plan herein set forth and its related Trust are hereby designated as constituting parts of
a plan and trust intended to qualify under Section 401(a) of the Internal Revenue Code of 1986, as
amended, and to be exempt from federal income taxation under Section 501(a) of the Internal Revenue
Code of 1986, as amended.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Plan, which is a profit-sharing plan, continues to provide for an Internal Revenue Code Section
401(k) feature. The Plan is intended to be an &#147;eligible individual account plan&#148; within the
meaning of Section&nbsp;407(d)(3) of the Employee Retirement Income Security Act of 1974, as amended
(&#147;ERISA&#148;), which may invest all or a portion of its assets in &#147;qualifying employer securities,&#148; as
defined in Section&nbsp;407(d)(5) of ERISA.
</DIV>

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE I</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>DEFINITIONS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following words and terms as used in this Plan shall have the meanings set forth below,
unless a different meaning is clearly required by the context:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 <U><B>Account</B></U>. The total of sub-accounts maintained by the Trustee to record the
interest of a Member in the Plan consisting of the 401(k) Account, Catch-Up Contribution Account,
Matching Contribution Account, Profit-Sharing Account, QNEC Account,
After-Tax Account and, if
applicable, Rollover Account.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 <U><B>Accrued Benefit</B></U>. The net value of all assets, earned or accrued, allocated to a
Member&#146;s Account.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 <U><B>Acquired Company</B></U>. An entity that has been acquired by the Company or an
Affiliate.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4 <U><B>Adopting Employer</B></U>. An entity that is an Eligible Company and assumes the
obligations of the Plan and Trust in accordance with its by-laws (or similar governing documents)
and applicable law and with the consent of the Company. If the Plan is only adopted by the
Adopting Employer with regard to certain divisions, only those divisions shall be deemed the
Adopting Employer and the other divisions of such Adopting Employer shall not be deemed to be an
Adopting Employer and shall not assume the obligations of the Plan hereunder. The Initial Adopting
Employers are listed on Exhibit&nbsp;A to the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5 <U><B>Affiliate</B></U>. An entity or trade or business presently or in the future existing,
which (a)&nbsp;is a member of the controlled group which includes either the Company or an Adopting
Employer, as applicable, or are under common control with the Company or an Adopting Employer, as
applicable, as such terms are defined in Section&nbsp;414 of the Code, but only during such period as
such entities or trades or businesses are members of the controlled group which includes the
Company or an Adopting Employer, as applicable, are under common control with the Company or an
Adopting Employer; or (b)&nbsp;is required to be aggregated with the Company or an Adopting Employer
pursuant to Sections 414(m) or (o)&nbsp;of the Code, but only during the period the entity or trade or
business is required to be so aggregated. Unless the context indicates otherwise, Affiliate shall
mean an Affiliate of the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6 <U><B>After-Tax Account</B></U>. The Member&#146;s sub-account with respect to after-tax
contributions made to a Historic Plan prior to the merger of the Historic Plan into the Plan with
respect to After-Tax Contributions made to the Plan and earnings and losses thereon.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7 <U><B>After-Tax Contribution</B></U>. A contribution made pursuant to Section&nbsp;4.3 of the Plan
or a predecessor provision.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8 <U><B>Beneficiary</B></U>. The individual or trust designated by a Member, in a manner
acceptable to the Committee, to receive benefits payable under this Plan in the event of the
Member&#146;s death; provided that, if the Member is married at the time of his death, his Spouse
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">shall be the Beneficiary, unless such Spouse does not survive him or a different Beneficiary
is designated by the Member and consented to by the Spouse in accordance with the provisions of
Section&nbsp;7.5 hereof. If no Beneficiary is designated by the Member, then:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;the Member&#146;s Beneficiary shall be the Member&#146;s Spouse, or
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;if the Member is not married, but has designated an individual as the Member&#146;s domestic
partner, in such manner as prescribed by the Committee, and has not revoked such designation, the
Member&#146;s Beneficiary shall be the Member&#146;s designated domestic partner; or
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;if the Member has neither a Spouse nor a designated domestic partner, the Member&#146;s
Beneficiary shall be the Member&#146;s estate.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the valid designation of a new Beneficiary, all Beneficiary designations previously filed
shall be canceled. The Committee shall be entitled to rely on the last beneficiary designation
form filed by the Member and accepted by the Committee prior to his death.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.9 <U><B>Benefit Starting Date</B></U>. The first day for which an amount is payable (<I>i.e</I>., the
date on which all events have occurred which entitle the Member to such benefits) without regard to
administrative delay and not the actual payment date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10 <U><B>Board</B></U>. The Board of Directors of the Company or a duly authorized committee
thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11 <U><B>Catch-Up Contribution </B></U>. A contribution made pursuant to Section&nbsp;4.2 of the Plan
or a predecessor provision.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.12 <U><B>Catch-Up Contribution Account</B></U>. The Member&#146;s sub-account with respect to Catch-Up
Contributions to a Historic Plan prior to the merger of the Historic Plan into the Plan and with
respect to Catch-Up Contributions made to the Plan, and earnings and losses thereon, pursuant to
Section&nbsp;4.2 and earnings and losses thereon.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13
<U><B>Child Rearing Absence</B></U>. Any period of absence of an Employee by reason of the
pregnancy of such Employee, by reason of the birth of a child of such Employee, by reason of the
placement of a child with such Employee in connection with the adoption of such child by such
Employee, or for purposes of caring for such child for a period beginning immediately following
such birth or placement. Child Rearing Absences shall be granted in accordance with such policies
as may, from time to time, be adopted by the Employer, and none of the provisions of this Plan
shall be construed to afford any Employee any rights other than in accordance with such policies.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.14 <U><B>Code</B></U>. The Internal Revenue Code of 1986, as amended.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.15 <U><B>Committee</B></U>. The committee appointed by the Company for the purpose of
administering the Plan on its behalf as set forth in Article&nbsp;XII.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.16 <U><B>Company</B></U>. Expedia, Inc., a Washington corporation, and any successor by merger,
consolidation, purchase or otherwise.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.17 <U><B>Compensation</B></U>. Except as specifically set forth below, all cash compensation for
services paid by an Employer to a Participant that is to be included on the Participant&#146;s W-2 for
such year including salary, bonuses, commissions and overtime pay. Compensation shall also include
contributions made by an Employer on behalf of a Participant pursuant to a salary reduction
agreement between an Employer and a Participant under Code Sections&nbsp;125, 132(f), 401(k) and 414(v).
Compensation shall exclude: (1)&nbsp;all noncash compensation and any contributions by the Employer to,
or benefits paid under, this Plan or any other pension, profit-sharing, fringe benefit, group
insurance (including, without limitation, life insurance or health insurance) or other employee
welfare plan (including, without limitation, severance or disability) or any deferred compensation
arrangement (other than any salary reductions under Code Sections&nbsp;125, 132(f) and 401(k)); (2)
amounts paid under any relocation plan of the Employer; (3)&nbsp;income on the exercise of a
nonstatutory stock option or any other type of stock award; (4)&nbsp;income on the disqualifying
disposition of shares of stock acquired under any stock option plan or stock purchase plan of the
Employer or any other type of stock award; (5)&nbsp;all items of imputed income; (6)&nbsp;amounts paid
pursuant to any long-term compensation plan maintained by the Employer; (7)&nbsp;cash prizes and awards;
(8)&nbsp;automobile allowances; (9)&nbsp;meal allowances; and (10)&nbsp;travel expenses and allowances.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compensation for any Plan Year shall not exceed two hundred ten thousand dollars ($210,000),
as adjusted for cost-of-living increases, in accordance with Section&nbsp;401(a)(17) of the Code. With
respect to any short Plan Year, Compensation shall not exceed the foregoing limit multiplied by a
fraction, the numerator of which is the number of months in the short Plan Year and the denominator
of which is twelve (12).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.18 <U><B>Disability</B></U>. A Participant will be deemed to have a Disability for purposes of
the Plan if he becomes eligible for and receives benefits under the
Employer&#146;s long-term disability
plan for as long as such plan provides.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.19
<U><B>Effective Date</B></U>. The Distribution Date is as described in the Preface of the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.20 <U><B>Elective Deferrals</B></U>. The sum of:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Any salary reduction contribution under a qualified cash or deferred arrangement (as
defined in Code Section&nbsp;401(k)) including contributions made pursuant to Section 414(v) of the
Code, to the extent not includable in gross income for the taxable year under Code Section
402(e)(3) (determined without regard to the limitation set forth in Code Section&nbsp;402(g));
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Any salary reduction contribution to the extent not includable in gross income for the
taxable year under Code Section&nbsp;402(h)(1)(B) (determined without regard to the limitation set forth
in Code Section&nbsp;402(g)); and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Any salary reduction contribution to purchase an annuity contract under Code Section
403(b) under a salary reduction agreement (within the meaning of Code Section
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">3121(a)(5)(D)), provided that the limitation set forth in Section&nbsp;4.1(g) hereof shall be
adjusted for any such contribution to the extent set forth in Code Sections&nbsp;402(g)(4) and (8).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.21 <U><B>Eligible Company</B></U>. All corporations and other entities presently or hereafter
existing, which are designated by the Company as being eligible to be an Employer under this Plan,
but only during the period any such corporation or other entity is so eligible, without regard to
whether it is an Affiliate.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.22 <U><B>Eligible Employee</B></U>. Any Employee of an Employer other than an Employee whose
employment is governed by the terms of a collective bargaining agreement between Employee
representatives (within the meaning of Code Section&nbsp;7701(a)(46)) and the Employer (except to the
extent that the collective bargaining agreement expressly provides for the inclusion of such
Employees), a Leased Employee, or a nonresident alien who receives no earned income (within the
meaning of Code Section&nbsp;911(d)(2)) from the Employer which constitutes income from sources within
the United States (within the meaning of Code Section&nbsp;861(a)(3)). An individual classified by the
Employer at the time services are provided as either an independent contractor or an individual who
is not classified by the Employer as an Employee but who provides services to the Employer through
another entity shall not be eligible to participate in this Plan during the period that the
individual is so initially classified, even if such individual is later retroactively reclassified
as an Employee during all or any part of such period pursuant to applicable law or otherwise.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.23 <U><B>Employee</B></U>. Any individual employed by an Employer, as used herein, including any
Leased Employee. The term &#147;Employee,&#148; as used herein, shall exclude any other agent or independent
contractor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.24 <U><B>Employer</B></U>. The Company and any Affiliate or Eligible Company that is or hereafter
becomes an Adopting Employer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.25 <U><B>Employment Commencement Date</B></U>. The first day on which an Employee is credited
with an Hour of Service.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.26 <U><B>Expedia Stock</B></U>. Common stock of Expedia, Inc., a Delaware corporation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.27 <U><B>Expedia Stock Option</B></U>. An investment vehicle under the Plan which is intended to
invest in Expedia Stock.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.28 <U><B>ERISA</B></U>. Employee Retirement Income Security Act of 1974, as amended.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.29 <U><B>Fair Market Value</B></U>. With respect to a specified date, the closing price of a
share of Expedia Stock as reported for the preceding trading day on the principal national
securities exchange in the United States on which it is then traded, or, if Expedia Stock is not
traded on any national securities exchange, as quoted on an automated quotation system sponsored by
the National Association of Securities Dealers, Inc., or if the sales of the Expedia Stock shall not have
been reported on such date, on the first day prior thereto on which the Expedia Stock was reported
or quoted. With respect to investments other than investments in Expedia Stock, Fair Market Value
shall be determined by the entity maintaining the applicable Investment Option, in accordance with
generally accepted valuation methods and practices.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.30 <U><B>4</B><B>01(k)</B><B> Account</B></U>. The Member&#146;s sub-account with respect to 401(k) Contributions
made to a Historic Plan prior to the merger of the Historic Plan into the Plan and with respect to
401(k) Contributions made to the Plan, and the earnings and losses thereon.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.31 <U><B>4</B><B>01(k)</B><B> Contribution</B></U>. A contribution made pursuant to Section&nbsp;4.1 of the Plan or
a predecessor provision.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.32 <U><B>Highly Compensated Employee</B></U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Any Employee who:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if the Employer is a corporation, any Employee who owned (or is considered
as owning within the meaning of Section&nbsp;318 of the Code) at any time during the
current or preceding Plan Year more than five percent (5%) of the outstanding stock
of the Employer or stock possessing more than five percent (5%) of the total
combined voting power of all stock of the Employer or if the Employer is not a
corporation, any Employee who owned at any time during the current or preceding Plan
Year more than five percent (5%) of the capital or profit interest in the Employer;
or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) received Section&nbsp;414 Compensation from the Employer and Affiliates in
excess of ninety thousand dollars ($90,000), as adjusted by the Secretary of the
Treasury, in the preceding Plan Year, and was among the top twenty percent (20%) of
Employees when ranked on the basis of compensation, as defined under Code Section
415(c)(3), during such Plan Year. In determining the number of Employees in the top
twenty percent (20%) for purposes of this paragraph, the following Employees shall
be excluded:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Employees who have not completed six (6)&nbsp;months of service;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)
Employees who normally work fewer than seventeen and one-half (17-<FONT style="font-size: 70%"><SUP>1</SUP></FONT>/<FONT style="font-size: 60%">2</FONT>)
hours per week;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Employees who normally work during not more than six (6)&nbsp;months
during any year;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Employees who have not attained age twenty-one (21); and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) except to the extent provided in regulations issued by the Internal
Revenue Service, Employees who are included in a unit of Employees covered
by an agreement which the Secretary of Labor finds to be a collective
bargaining agreement between the Employee representatives and the Employer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;A former Employee shall be treated as a Highly Compensated Employee if:
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) such Employee was a Highly Compensated Employee when such Employee
separated from service; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) such Employee was a Highly Compensated Employee at any time after
attaining age fifty-five (55).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For purposes of determining status as a Highly Compensated Employee under Treasury Regulation
Section&nbsp;1.414(q)-1T, A-4, whether an Employee was a Highly Compensated Employee for the respective
year that ended on or after the Employee&#146;s attainment of age fifty-five (55), or that was a
separation year, is based on the rules applicable to determining Highly Compensated Employee status
as in effect for that year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.33 <U><B>Highly Compensated Group</B></U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;With respect to an Employer for any Plan Year, the group of all Highly Compensated
Employees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Prior to determining the Highly Compensated Group, Code Sections&nbsp;414(b), (c), (m)&nbsp;and (o)
shall be applied.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Persons who are nonresident aliens and who receive no earned income (within the meaning of
Code Section&nbsp;911(d)(2)) from the Employer or its Affiliates which constitutes income from sources
within the United States (within the meaning of Code Section&nbsp;861(a)(3)) shall not be treated as
Employees for purposes of determining the Highly Compensated Group.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.34 <U><B>Historic Plan</B></U>. A plan that is merged into and with the Plan (or prior to the
Effective Date, the Prior Plan, if the assets of such Historic Plan were transferred to this Plan
pursuant to the Trust-to-Trust Transfer described in the Preface) or from which the Plan receives a
trustee-to-trustee transfer, but only to the extent of such transfer. Except as otherwise provided
herein, the benefits of any Member who does not perform an Hour of Service on or after the
Distribution Date shall be governed by the provisions of the Historic Plan in effect as of the date
of such Member&#146;s Termination of Employment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.35 <U><B>IAC Stock</B></U>. Common stock of IAC/InterActiveCorp which Members hold in their
Accounts as of the Distribution Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.36 <U><B>Investment Option</B></U>. One of the investments designated by the Committee for the
investment of contributions made to the Plan, including a brokerage account under the Plan or an
option to direct the Named Fiduciary to appoint an &#147;investment manager,&#148; as defined in Section
3(38) of ERISA, to allocate the Participant&#146;s Account balance among other Investment Options (other
than a brokerage account, the Expedia Stock Option or IAC Stock) in its discretion in accordance
with its fiduciary duties under ERISA.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.37 <U><B>Leased Employee</B></U>. Any person (other than an employee of the recipient) who
pursuant to an agreement between the recipient and any other person (&#147;leasing organization&#148;) has
performed services for a recipient (or for the recipient and related persons determined in
accordance with Section&nbsp;414(n)(6) of the Code) on a substantially full-time basis for a period of
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">at least one year, and such services are performed under primary direction or control by the
recipient. Contributions or benefits provided a Leased Employee by the leasing organization that
are attributable to services performed for the recipient employer shall be treated as provided by
the recipient employer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38 <U><B>Leave of Absence</B></U>. Any absence approved by the Employer, other than absence which
qualifies as a Child Rearing Absence or a Military Leave of Absence, including, but not limited to,
sick or disability leave.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.39 <U><B>Limitation Year</B></U>. The Plan Year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.40 <U><B>Matching Contribution</B></U>. A contribution made pursuant to Section&nbsp;4.4 of the Plan
(or a predecessor section) as a result of a 401(k) Contribution made pursuant to Section&nbsp;4.1 hereof
(or a predecessor section).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.41 <U><B>Matching Contribution Account</B></U>. The Member&#146;s sub-account with respect to Matching
Contributions made to a Historic Plan prior to the merger of the Historic Plan into the Plan and
with respect to Matching Contributions made to the Plan and the earnings and losses thereon.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.42 <U><B>Member</B></U>. A Participant, including a Transferred Participant, a Terminated
Participant or a Retired Participant who has an Accrued Benefit under the Plan or an individual who
(i)&nbsp;was a participant in a plan which was merged into the Plan and (ii)&nbsp;has an Account balance
under the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.43 <U><B>Military Leave of Absence</B></U>. Absence of an Employee in military service for the
United States of America, provided that the Employee returns to the employ of the Employer prior to
the end of any period prescribed by the laws of the United States during which he has reemployment
rights with the Employer; and provided further that such military service and the Employee&#146;s
subsequent return to employment with the Employer satisfy the requirements for guaranteed
reemployment under the Selective Services Act, the Uniform Services Employment and Reemployment Act
or any similar law then existing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.44 <U><B>Named Fiduciary</B></U>. The Company except where the Member (or Beneficiary thereof) or
the Trustee shall be a &#147;named fiduciary&#148; with respect to the vote or tender of Expedia Stock as set
forth in Article&nbsp;X or as provided in Section&nbsp;6.10 of the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.45 <U><B>Non Highly Compensated Group</B></U>. That group of Participants who are not included in
the Highly Compensated Group.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.46 <U><B>Normal Retirement Age</B></U>. The Member&#146;s attainment of age fifty-five (55).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.47 <U><B>Normal Retirement Date</B></U>. The first day of the month coinciding with or
immediately following the Member&#146;s attainment of Normal Retirement Age.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.48 <U><B>Payroll Period</B></U>. The applicable period for which Compensation is paid to a
Participant.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.49 <U><B>Participant</B></U>. Any Employee who shall have become a Participant in the Plan in
accordance with the provisions of Article&nbsp;III hereof, and whose participation shall not have
ceased. A Participant&#146;s participation shall cease upon his ceasing to be an Eligible Employee.
The term Participant shall not include Retired Participants and Terminated Participants.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 <U><B>Period of Prior Service</B></U>. The period of time for which an Employee is directly or
indirectly paid or entitled to payment (including back pay, if any, irrespective of mitigation or
damages) by IAC/InterActiveCorp and Prior Affiliates, with respect to the period of time
immediately preceding the Plan&#146;s Effective Date; and (d)&nbsp;a Predecessor Employer, with respect to
the period of time immediately preceding the Employee&#146;s service with the Employer;
<U>provided</U>, that such total period of prior service shall end on the date immediately prior
to the date the Employee performs an Hour of Service for the Employer. Notwithstanding any
contrary provision contained herein, service under (a), (b)&nbsp;and (c)&nbsp;above shall only be recognized
under the Plan if such service was recognized under the Prior Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.51 <U><B>Plan</B></U>. The Expedia Retirement Savings Plan, as herein set forth and as hereafter
amended.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.52 <U><B>Plan Administrator</B></U>. The Company shall be the administrator of the Plan, as
defined in Section&nbsp;3(16)(A) of ERISA.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.53 <U><B>Plan Year</B></U>. A period of twelve (12)&nbsp;months beginning on January 1st and ending on
the following December&nbsp;31<SUP style="font-size: 85%; vertical-align: text-top">st</SUP> provided that the initial Plan Year shall commence on the
Effective Date and end on December&nbsp;31, 2005.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.54 <U><B>Prior Affiliate</B></U>. With respect to IAC/InterActiveCorp, such corporations and
other entities which, prior to the Effective Date, are: (a)&nbsp;members of the controlled group which
includes IAC/InterActiveCorp or are under common control with IAC/InterActiveCorp, as such terms
are defined in Section&nbsp;414 of the Code, but only during such period as such corporations or
entities are members of the controlled group which includes IAC/InterActiveCorp or are under common
control with IAC/InterActiveCorp; and (b)&nbsp;any other entity required to be aggregated with
IAC/InterActiveCorp pursuant to Sections 414(m) or (o)&nbsp;of the Code, but only during the period the
entity is required to be so aggregated.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.55 <U><B>IAC/InterActiveCorp</B></U>. IAC/InterActiveCorp.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.56 <U><B>Prior Plan</B></U>. IAC/InterActiveCorp Retirement Savings Plan, as amended and restated
effective August&nbsp;1, 2003 and as thereafter amended.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.57
<U><B>Profit-Sharing Account</B></U>. The Member&#146;s sub-account with respect to Profit Sharing
Contributions to a Historic Plan prior to the merger of the Historic Plan into the Plan and with
respect to Profit-Sharing Contributions to the Plan, and earnings and losses thereon.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.58
<U><B>Profit-Sharing Contributions</B></U>. A contribution made pursuant to Section&nbsp;4.7 of the
Plan or a predecessor provision.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.59
<U><B>QNEC Account</B></U>. The Member&#146;s sub-account with
respect to QNECs to a Historic Plan
prior to the merger of the Historic Plan into the Plan and with respect to QNECs made to the Plan,
and earnings and losses thereon.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.60 <U><B>QNECs</B></U>. Qualified non-elective contributions made pursuant to Section&nbsp;4.6 of the
Plan or a predecessor section used to satisfy the Actual Deferral Percentage Test (as described in
Section&nbsp;4.1(c)) or the Actual Contribution Percentage Test (as described in Section&nbsp;4.5).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.61 <U><B>Reemployment Commencement Date</B></U>. The first day on which an Employee is credited
with an Hour of Service following a Period of Severance which is not included as a Period of
Service.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.62 <U><B>Retired Participant</B></U>. A former Participant who has retired on or after Normal
Retirement Age and is eligible to receive benefits under the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.63 <U><B>Rollover Account</B></U>. The total of the following Member&#146;s sub-account with respect
to Rollover Contributions to an Historic Plan prior to the merger of the Historic Plan into the
Plan and with respect to Rollover Contributions to the Plan pursuant to Section&nbsp;4.9 or a
predecessor section, and earnings and losses thereon:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U><B>General Rollover Account</B></U>. The Member&#146;s sub-account with respect to Rollover
Contributions, excluding after-tax rollovers made to the Plan, and earnings and losses thereon.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<U><B>After-Tax Rollover Account</B></U>. The Member&#146;s sub-account with respect to the portion
of Rollover Contributions that consist of after-tax contributions that would not have been
includible in the Member&#146;s gross income if received directly by him and earnings and losses
thereon.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.64 <U><B>Rollover Contribution</B></U>. A contribution made to the Plan pursuant to Section&nbsp;4.9
of the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.65 <U><B>Section&nbsp;414 Compensation</B></U>. An individual&#146;s total &#147;wages&#148; as defined in Section
3401(a) of the Code for purposes of income tax withholding at the source but determined without
regard to any rules that limit the remuneration included in wages based on its nature or location
of employment or services performed (such as the exception for agricultural labor in Section
3401(a)(2) of the Code). The determination shall be made without taking into account the
exclusions under Code Sections&nbsp;125, 132(f), 402(e)(3) and 402(h)(1)(B). Section&nbsp;414 Compensation
shall be measured based on compensation actually paid or made available to a Participant during the
measuring period and not on an accrued basis. For purposes of Section&nbsp;4.1(c) and Section&nbsp;4.3(b),
Section&nbsp;414 Compensation for any Plan Year shall not exceed two hundred ten thousand dollars
($210,000), as adjusted for cost-of-living increases, in accordance with Section&nbsp;401(a)(17) of the
Code, and with respect to any short Plan Year, Section&nbsp;414 Compensation shall not exceed the
foregoing limit multiplied by a fraction, the numerator of which is the number of months in the
short Plan Year and the denominator of which is twelve (12). With respect to any Member who
participated in the Prior Plan during any portion of the period beginning on January&nbsp;1, 2003 and
ending on the day before the Effective Date (&#147;Interim
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Period&#148;), for purposes of the Plan Year ending on December&nbsp;31, 2005, Statutory Compensation
shall include all compensation described in this Section paid to such Member by IAC/InterActiveCorp
or the Prior Affiliate during the Interim Period.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.66 <U><B>Spouse</B></U>. A Participant&#146;s legal spouse.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.67 <U><B>Terminated Participant</B></U>. An individual who ceases to be a Participant as a result
of a Termination of Employment for any reason other than death and who is eligible to receive
benefits under the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.68 <U><B>Termination of Employment</B></U>. Separation from the employment of all Employers and
their Affiliates for any reason, including, but not limited to, retirement, death, disability,
resignation or dismissal with or without cause. Where an Employee enters upon an authorized Leave
of Absence or layoff, Termination of Employment shall not be deemed to occur until his Leave of
Absence expires without immediate reemployment, or in the case of layoff, he is not rehired within
the time established by the Committee in accordance with the general policy of the Employer. Where
an Employee is on a Military Leave of Absence, Termination of Employment shall not be deemed to
occur unless and until the Employee fails to return to employment prior to the end of the period
during which his right to reemployment is protected by the Selective Service Act, or Uniform
Services Employment and Reemployment Act or any similar law then existing. In the event that an
Employee is transferred from one Employer or Affiliate to another Employer or Affiliate, the
Employee will not be deemed to have incurred a Termination of Employment until he is no longer
employed by any Employer or Affiliate. In the event the Employer or an Affiliate sells some or all
of its assets, any Employee who in connection with, or as a result of, such sale becomes employed
by the acquirer of such assets shall not, for purposes of Article&nbsp;VII hereof and only for such
purposes, be deemed to have incurred a Termination of Employment if and to the extent the Employer
or Affiliate makes arrangements for a trustee-to-trustee transfer of all or a portion of a
Participant&#146;s Account to any qualified retirement plan sponsored by the acquirer of such assets
unless and until the Employee is no longer employed by such acquirer or any entity thereafter
acquiring the aforesaid assets, provided that the foregoing shall not apply to the extent that the
disposition is covered by subsection (iii)&nbsp;or subsection (iv)&nbsp;of Section&nbsp;9.1(a) hereof or at any
time at or after the disposition at which the Participant has attained age fifty-nine and one-half
(59-<FONT style="font-size: 70%"><SUP>1</SUP></FONT>/<FONT style="font-size: 60%">2</FONT>). For purposes of the foregoing sentence, and only for such purposes, a sale of stock of an
Employer or Affiliate shall be within the meaning of a &#147;sale of assets.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.69
<U><B>Transferred Participant</B></U>. Any person who was a
participant in a Historic Plan
and whose account thereunder was transferred to the Plan pursuant to the merger of the Historic
Plan into the Plan or Prior Plan. Unless otherwise specified herein, the benefits of any
Transferred Participant who does not perform an Hour of Service on or after the effective date that
the plan in which he participated became a Historic Plan shall be governed by the provisions of
such plan in effect as of the day such Transferred Participant terminated employment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.70 <U><B>Trust</B></U>. The Trust adopted by the Company under the Trust Agreement incorporated
hereto and made a part hereof, which is established to hold and invest contributions made under the
Plan, as amended from time to time. If the Trust Fund is held by an insurance
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">company pursuant to a direct contract or an annuity contract, the reference to Trust shall
include such a contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.71 <U><B>Trustee</B></U>. Such person or persons or corporation appointed and acting as trustee
or successor trustee of the Trust under the Trust Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.72 <U><B>Trust Fund</B></U>. All assets of whatsoever kind or nature, including all property and
income, held from time to time by the Trustee under the Trust.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.73 <U><B>Valuation Date</B></U>. Each day on which trades are made on the New York Stock Exchange
or such other dates as the Committee may determine in accordance with its rules and procedures.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.74 <U><B>Value</B></U>. The Member&#146;s Accrued Benefit with regard to his Account or sub-account,
as the case may be.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B><U>Construction</U></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The masculine gender where appearing in this Plan shall be deemed to include the feminine
gender, unless the context clearly indicates to the contrary. Where appropriate, words used in the
singular include the plural and the plural includes the singular. The words &#147;hereof,&#148; &#147;herein,&#148;
&#147;hereunder&#148; and other similar compounds of the word &#147;here&#148; shall mean and refer to this entire
Plan, not to any particular provision or section.
</DIV>

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE II</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SERVICE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 <U><B>Hours of Service</B></U>. &#147;Hours of Service&#148; means hours for which an Employee is or will
be directly or indirectly compensated by the Employer or any Affiliate for the performance of
duties, including overtime (but only actual hours worked irrespective of premium pay) and hours for
which a back pay award is made (without offset for mitigation of damages).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any other provision to the contrary, Hours of Service shall be credited with
regard to an Employee&#146;s prior hours of service with a IAC/InterActiveCorp to the extent such hours
of service were credited under a Historic Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2
<U><B>Childrearing Absence</B></U>. An Employee who incurs a Childrearing Absence shall be
credited with Hours of Service for the period of such absence equal to either (i)&nbsp;the Hours of
Service that would have been credited to such Employee but for such
Childrearing Absence, or (ii)
if the Hours of Service to be credited to such Employee pursuant to the preceding clause (i)&nbsp;cannot
be determined, eight (8)&nbsp;Hours of Service for each normal workday of absence; <U>provided</U>,
<U>however</U>, that in no event shall any Employee be credited with more than five hundred and
one (501)&nbsp;Hours of Service under this Section&nbsp;2.2. The Severance from Service Date of an Employee
who incurs a Childrearing Absence that extends beyond the first anniversary of the first date of
such Childrearing Absence is the second anniversary of the first date of absence. The period
between the first and second anniversary will be treated as neither a Period of Severance nor a
Period of Service.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 <U><B>Period of Service</B></U>. A period commencing on the Employee&#146;s (i)&nbsp;Employment
Commencement Date or (ii)&nbsp;Reemployment Commencement Date, whichever is applicable, and ending on
the Severance from Service Date, as defined below. A Period of Service includes a Period of
Severance, as defined below, of less than twelve (12)&nbsp;consecutive months; provided, however, that
if an Employee is absent from service on the date immediately preceding his Severance from Service
Date, as defined below, his Period of Severance shall be included in his Period of Service only if
he again performs an Hour of Service within twelve (12)&nbsp;months after the commencement of such
absence. An Employee&#146;s Period of Service shall include the period of such Employee&#146;s Military
Leave of Absence. If an Employee is reemployed by the Employer after
a One Year Period of
Severance, as defined below, his prior Period of Service shall be reinstated if:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;the Employee had met the requirements for a vested benefit under the Plan at the time of
the Employee&#146;s Severance from Service Date, or
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;the
number of the Employee&#146;s consecutive One Year Periods of Severance immediately prior
to the Employee&#146;s Reemployment Commencement Date does not exceed
the greater of (i)&nbsp;five (5)&nbsp;or
(ii)&nbsp;the aggregate number of years of the Employee&#146;s Period of Service prior to his Period of
Severance,</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;A
Period of Service shall include an Employee&#146;s Period of Prior
Service.
</DIV>

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</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Solely for purposes of Section&nbsp;5.1(b) of the Plan, subject to Section&nbsp;2.3 of the Plan,
each participant in a Historic Plan that did not use the &#147;elapsed time&#148; method of calculating
service for vesting purposes as described in Department of Labor Regulation &#167;2530.204-3(a) who
became a Participant in the Plan on or after the date that the respective Historic Plan under which
he or she was a participant merged into the Plan (the &#147;Applicable Merger Date&#148;), shall receive
credit for years in a Period of Service in accordance with Treasury Regulation&nbsp;1.410(a)-7(g) equal
to the sum of:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The number of Years of Service (as defined under the Historic Plan)
credited to such Member before the Applicable Merger Date (the &#147;Applicable
Computation Period&#148;);
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The greater of (x)&nbsp;the Period of Service credited to such Member under the
vesting schedule set forth in Section&nbsp;5.1(b) for his service during the entire
Applicable Computation Period or (y)&nbsp;the Years of Service credited to such
Participant under the applicable vesting schedule set forth under the Historic Plan
immediately prior to the Applicable Merger Date; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The number of his years in a Period of Service commencing on or after the
Applicable Merger Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 <U><B>Severance</B></U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U>Period of Severance</U>. A period of time commencing on the Severance from Service
Date and ending on the date the Employee again performs an Hour of Service. An Employee shall not
suffer a Period of Severance due to a Military Leave of Absence to the extent required by law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<U>One
Year Period of Severance</U>. A Period of Severance of at least twelve (12)
consecutive months.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;<U>Severance from Service Date</U>. The earlier of (i)&nbsp;the date an Employee quits,
retires, is discharged or dies, or (ii)&nbsp;the first anniversary of the first date of a period in
which an Employee is continuously absent from service (with or without pay) with the Employer for
any reason other than quitting, retirement, discharge or death.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;<U>Childrearing Absence</U>. For purposes of Section&nbsp;2.2, the Severance from Service
Date of an Employee who incurs a Childrearing Absence that extends beyond the first anniversary of
the first date of such Childrearing Absence is the second anniversary of the first date of absence
and the period between the first and second anniversary will be treated as neither a Period of
Severance nor a Period of Service.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 <U><B>Military Service</B></U>. (a)&nbsp;Notwithstanding any provision of this Plan to the
contrary, contributions, benefits and service credit with respect to qualified military service
will be provided in accordance with Section 414(u) of the Code.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;In the case of an Eligible Employee who is on Military Leave of Absence and who becomes
employed as an Eligible Employee of an Employer who was not his Employer
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">immediately prior to his Military Leave of Absence, the liability to fund the benefits under
the Plan for such Eligible Employee for the period of the Military Leave of Absence shall be the
responsibility of the Eligible Employee&#146;s last Employer before the Military Leave of Absence;
provided, however, that if such Employer is no longer an Adopting Employer, such liability shall be
borne by each Employer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6 <U><B>Multiple Employer Plan</B></U>. Solely to the extent required by Department of Labor
Regulation&nbsp;Section&nbsp;2530.210(c)(1) and applicable law, if the Plan is a &#147;multiple employer plan,&#148; as
defined under Section&nbsp;413 of the Code, the following shall apply:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;for purposes of eligibility and vesting only, Hours of Service shall include all Hours of
Service during covered service with all Employers and all contiguous noncovered service; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;for benefit accrual purposes, Hours of Service shall include all Hours of Service during
covered service with all Employers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For purposes of this Section, the terms &#147;<B><I>covered service</I></B>,&#148; &#147;<B><I>noncovered service</I></B>&#148; and
&#147;<B><I>contiguous</I></B>&#148; shall have the same meanings as used in Department of Labor Regulation&nbsp;Section
2530.210(c)(3).
</DIV>


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</DIV>


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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE III</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>ELIGIBILITY</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 <U><B>Former Participants and Member of the Prior Plan</B></U>. (a)&nbsp;Each Eligible Employee
who was a participant in the Prior Plan on the day immediately preceding the Effective Date shall
be eligible to become a Participant in the Plan on the Effective Date.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Each other person who had an account balance in the Prior Plan transferred to the Plan in
the Trust-to-Trust Transfer will automatically become a Member in the Plan with respect to his
transferred account balance on the date the Trust-to-Trust Transfer is completed.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 <U><B>Future Employees</B></U>. Each future Eligible Employee and each current Eligible
Employee who is not eligible to become a Participant in accordance with Section&nbsp;3.1 hereof shall
become a Participant in the Plan on the first day of the Payroll Period coinciding with or next
following:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Eligible Employee&#146;s Employment Commencement Date; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The date on which the Eligible Employee attains age twenty-one (21)&nbsp;or, effective January
1, 2006, age eighteen (18).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 <U><B>Reemployment</B></U>. Any Member who is reemployed and who satisfies the requirements of
Section&nbsp;3.2 shall become a Participant in the Plan as of the date of his Reemployment Commencement
Date. An Employee who is reemployed but who is not eligible to become a Participant in accordance
with Section&nbsp;3.2 shall not be eligible to become a Participant until he satisfies the requirements
of Section&nbsp;3.2 based on his Employment Commencement Date or Reemployment Commencement Date,
whichever is applicable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 <U><B>Automatic Enrollment</B></U>. In accordance with any rules, regulations and/or administrative
guidelines prescribed by the Committee, unless and until otherwise elected by the Eligible
Employee, an Eligible Employee who becomes a Participant in accordance with this Article&nbsp;III on or
after January&nbsp;1, 2006 shall be deemed to: (A)&nbsp;enter into a salary reduction agreement with the
Employer to make 401(k) Contributions to the Participant&#146;s 401(k) Account pursuant to Section&nbsp;4.1
equal to a percentage of his Compensation and (B)&nbsp;make an election to invest his Account in the
Fidelity Freedom Fund with a target retirement date closest to the date that the Participant will
attain age sixty-five (65). Notwithstanding this Section&nbsp;3.4, a Participant may affirmatively
elect to make contributions to his or her 401(k) Account in an amount equal to, less than or
greater than the percentage specified above. The Committee may establish and adopt rules,
regulations and/or administrative guidelines designed to facilitate the administration and
operation of the provisions of this Section, as it may deem necessary or proper, in its sole
discretion.
</DIV>


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</DIV>

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<DIV align="right" style="font-size: 10pt; margin-top: 6pt"><U><B>Exhibit&nbsp;(d)(22)</B></U>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE IV</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 18pt"><B>CONTRIBUTIONS</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 <U><B>401(k) Contributions</B></U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Subject to the provisions of this Article&nbsp;IV, a Participant may enter into a salary
reduction agreement with his Employer to have the Employer make contributions to the Participant&#146;s
401(k) Account on behalf of the Participant, in accordance with Code Section&nbsp;401(k), of one percent
(1%) to sixteen percent (16%) of his future Compensation, in whole percentages, earned while a
Participant during a Pay Period. Such contributions shall reduce the amount of Compensation
otherwise payable to the Participant thereafter. Notwithstanding the foregoing, the maximum
deferral percentage may be reduced with respect to any Highly Compensated Employee may be decreased
at any time to the extent necessary to comply with Section&nbsp;4.1(c).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Any salary reduction agreement executed by a Participant shall be in a manner acceptable
to the Committee in accordance with its rules and regulations. A Participant may elect to enter
into a salary reduction agreement or change or terminate his existing salary reduction agreement
with regard to future Compensation as of the first day of the first Payroll Period (or such other
times as the Committee shall prescribe) following such election, by giving sufficient prior notice
to the Plan Administrator on a form (or other means) provided by, or in a manner acceptable to, the
Committee for such purpose. The Committee may establish or change, in accordance with its rules
and regulations and in a consistent manner, the foregoing period of prior notice.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The 401(k) Contributions made under this Section&nbsp;4.1 on behalf of the Highly Compensated
Group in any Plan Year shall not exceed the maximum amount so that the &#147;Actual Deferral Percentage&#148;
(as defined below) for the Highly Compensated Group for a Plan Year does not exceed the Actual
Deferral Percentage for the Non Highly Compensated Group for the same Plan Year by the greater of:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) One hundred and twenty-five percent (125%); or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The lesser of two (2)&nbsp;percentage points or two hundred percent (200%).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, this Section&nbsp;4.1(c) may be applied using the Actual Deferral
Percentage for the Non Highly Compensated Group for the preceding Plan Year rather than the current
Plan Year; provided that an election to use the preceding Plan Year must be made pursuant to Code
Section&nbsp;401(k)(3)(A) and any regulations or other published guidance thereunder.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;The Actual Deferral Percentage for a Plan Year with regard to each of the Highly
Compensated Group and the Non Highly Compensated Group shall be the average of the percentages
(calculated separately for each Participant in each such group) of (x)&nbsp;divided by (y), subject to
(z), where (x), (y)&nbsp;and (z)&nbsp;are as follows:
</DIV>


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</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) is, for the applicable Plan Year, the sum of (1)&nbsp;the Employer&#146;s
contributions for each Participant to each Participant&#146;s 401(k) Account, (2)&nbsp;subject
to Paragraph (i)&nbsp;below, the Matching Contributions for each Participant to each
Participant&#146;s Matching Contribution Account, and (3)&nbsp;the QNECs, if any, for each
Participant to each Participant&#146;s QNEC Account;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) is the Participant&#146;s Section&nbsp;414 Compensation for the applicable Plan Year;
and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) the Actual Deferral Percentage of a member of the Highly Compensated Group
shall be determined by treating all cash or deferred arrangements under which the
member of the Highly Compensated Group is eligible (other than those that may not be
permissively aggregated) as a single arrangement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) (i)&nbsp;Excess Contributions shall be reduced to satisfy Paragraph (c)&nbsp;above. Excess
Contributions shall mean with respect to any Plan Year, the excess of the aggregate amount of the
Employer&#146;s contributions made pursuant to this Section&nbsp;4.1 actually paid over to the Trust Fund on
behalf of the Highly Compensated Group for such Plan Year, over the maximum amount of such
contributions permitted under (c)&nbsp;above. The amount of Excess Contributions for Highly Compensated
Employees will be determined using the &#147;ratio leveling&#148; method in accordance with Internal Revenue
Service Notice 97-2, 1997-2 I.R.B. 22, or any subsequent guidance from the Internal Revenue
Service. Reductions from among the Highly Compensated Group shall be determined by reducing 401(k)
Contributions made pursuant to this Section&nbsp;4.1 hereof, on behalf of members of the Highly
Compensated Group in order of the dollar amounts of 401(k) Contributions beginning with the largest
of such dollar amounts of 401(k) Contributions, as adjusted as reduction takes place.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Excess Contributions for any Plan Year (and any income allocable to
such Excess Contributions) shall be distributed before the last day of the next Plan
Year to the members of the Highly Compensated Group on the basis of the respective
portions of the Excess Contributions attributable to each such member of the Highly
Compensated Group. Any such amounts not distributed before March&nbsp;15 of the next
Plan Year will be subject to an excise tax on the Employer under Code Section&nbsp;4979.
The amount of Excess Contributions that may be distributed under this Paragraph
shall be reduced by any Excess Deferrals (as defined in Section&nbsp;4.1(h)) previously
distributed with respect to such Participant for the Plan Year.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The method used for computing income or loss allocable to Excess
Contributions shall be the method set forth in Section&nbsp;6.9 hereof. Notwithstanding
the foregoing, there shall be no income allocable to Excess Contributions during the
period between the end of the Plan Year and the date of distribution of the Excess
Contributions.
</DIV>

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</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;All determinations and procedures with regard to the matters covered by Paragraphs (c),
(d)&nbsp;and (e)&nbsp;of this Section&nbsp;4.1 shall be made in accordance with Code Section&nbsp;401(k)(3) and
Treasury Regulation&nbsp;Section&nbsp;1.401(k)-1(b).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;Notwithstanding anything else herein, the amount to be contributed for any calendar year
on behalf of any Participant pursuant to an agreement under (a)&nbsp;above shall not exceed the
applicable &#147;Elective Limitation.&#148; The &#147;Elective Limitation&#148; shall mean fourteen thousand dollars
($14,000) for 2005, and fifteen thousand dollars ($15,000) for 2006 and thereafter such dollar
amount in effect under Section 402(g) of the Code.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;If contributions of Elective Deferrals on behalf of a Participant for any calendar year
are in excess of the Elective Limitation for such calendar year, the excess amount (&#147;Excess
Deferrals&#148;) shall be treated as follows:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) not later than March 1st of the next calendar year, the Participant may
allocate the amount of such Excess Deferrals among the plans under which the
deferrals were made and may notify each such plan the portion allocated to it;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) not later than April&nbsp;15th of the next calendar year, the Employer may
distribute to the Participant the amount of Excess Deferrals allocated to it under
(i)&nbsp;above, and any income or loss allocable to such amount, which shall be computed
based on the method set forth in Section&nbsp;6.9 hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event Excess Deferrals were made to the Plan without consideration of contributions to
any other plans, such amounts shall be distributed pursuant to clause (ii)&nbsp;without regard to
whether any election under clause (i)&nbsp;is made.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;In satisfying the Actual Deferral Percentage Test described in Paragraph (c), Matching
Contributions may be treated as if they were contributions to the Participant&#146;s 401(k) Account
pursuant to Section&nbsp;4.1 hereof, provided that the requirements of Code Regulation&nbsp;Section
1.401(k)-1(b)(5) are satisfied. If used to satisfy the Actual Deferral Percentage Test, such
Matching Contributions shall not be used to help other Matching Contributions satisfy the Actual
Contribution Percentage Test (as described in Section&nbsp;401(m)(2) of the Code), set forth in Section
4.5 hereof except as otherwise permitted by applicable law.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;For purposes of satisfying the Actual Deferral Percentage Test described in Paragraph (c),
all elective contributions that are made under two or more plans that are aggregated for purposes
of Code Section&nbsp;401(a)(4) or Code Section 410(b) (other than Code Section&nbsp;410(b)(2)(A)(ii)) shall
be treated as made under a single plan and if two or more plans are permissively aggregated for
purposes of Code Section&nbsp;401(k), the aggregated plans must also satisfy Code Sections&nbsp;401(a)(4) and
410(b) as though they were a single plan.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 <U><B>Catch-Up Contributions</B></U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Any Participant who:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) is eligible to make 401(k) Contributions pursuant to Section&nbsp;4.1 of the
Plan,
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) who has attained or will attain age fifty (50)&nbsp;before the close of the
Plan Year, and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) with respect to whom no other elective deferrals may (without regard to
this subsection) be made to the Plan Year for the Plan Year by reason of the
application of any limitation or other restriction described in Sections&nbsp;401(a)(30),
402(h), 403(b), 408, 415(c), and 457(b)(2) (determined without regard to section
457(b)(3)) of the Code, or comparable limitation or restriction contained in the
terms of the Plan, shall be eligible to enter into a salary reduction agreement with his Employer to
have the Employer make Catch-Up Contributions on behalf of the Participant to the
Participant&#146;s Catch-Up Contribution Account in accordance with, and subject to, the
limitations of Code Section&nbsp;414(v). Such Catch-Up Contributions shall not be taken
into account for purposes of the provisions of the Plan implementing the required
limitations of Code Sections 402(g) and 415 as provided in Sections&nbsp;4.1(g) and 4.10
of the Plan. The Plan shall not be treated as failing to satisfy the provisions of
the Plan implementing the requirements of Code Sections&nbsp;401(k)(3), 401(k)(11),
401(k)(12), 410(b), or 416, as applicable, including, without limitation, Sections
4.1(c) and 4.5(a) of the Plan, by reason of permitting Participants to make Catch-Up
Contributions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Contributions made pursuant to this Section&nbsp;4.2 shall reduce the amount of Compensation
otherwise payable to the Participant thereafter.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;A salary reduction agreement entered by a Participant shall be on a form acceptable to the
Committee in accordance with its rules and regulations. A Participant may elect to make, change or
terminate his contribution rate with regard to future Compensation as of the first day of the
Payroll Period following such election by giving sufficient prior notice to the Plan Administrator
on a form provided by the Committee for such purpose. The Committee may establish or change, in
accordance with its rules and regulations and in a consistent manner, the period of prior notice.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 <U><B>After-Tax Contributions</B></U>. (a)&nbsp;A Participant may enter into a salary deduction
agreement with his Employer to make contributions to his After-Tax Contribution Account, subject to
the limitations set forth in Section&nbsp;4.10 hereof. Each Participant may contribute to the Plan a
percentage of his future Compensation each Payroll Period earned while a Participant, equal to one
percent (1%) to ten percent (10%) in whole percentages.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;A Participant may elect to make, change or terminate his After-Tax Contribution rate only
as of the first day of any Payroll Period (or such other times as the Committee shall prescribe)
following such election, by giving sufficient prior notice to the Plan Administrator in a manner
acceptable to, the Committee for such purpose. The Committee may establish or change, in
accordance with its rules and regulations and in a consistent manner, the period of prior notice.
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <U><B>Matching Contributions</B></U>. Except as provided herein, for each Pay Period, with
respect to each Participant who is entitled to make and who makes 401(k) Contributions pursuant to
Section&nbsp;4.1 hereof, with respect to each Pay Period the Employer shall contribute to the Plan an
amount equal to fifty percent (50%) of such Participant&#146;s 401(k) Contributions contributed by the
Participant with respect to the first six percent (6%) of such Participant&#146;s Compensation earned
while a Participant during the Pay Period.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) (i)&nbsp;With respect to each Participant who is entitled to make and who makes 401(k)
Contributions pursuant to Section&nbsp;4.1 hereof, the Employer, in its sole and absolute discretion,
may contribute Matching Contributions to the Plan in addition to the Matching Contributions made
pursuant to Paragraph (a)&nbsp;above, in an amount equal to a percentage of such Participant&#146;s 401(k)
Contribution, as designated by the Employer for the applicable Plan Year. In connection with the
designation of any percentage for the purpose of making additional Matching Contributions pursuant
to this Paragraph (b), the Employer in its sole and absolute discretion, may limit the Matching
Contribution by placing a total dollar or percentage limit on the Matching Contribution.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Notwithstanding the foregoing, no Matching Contribution will be made for
any Participant pursuant to this Section&nbsp;4.4(b) for any Plan Year unless he is
employed by the Employer on the last day of the Plan Year or during such Plan Year,
he retired at or after attaining his Normal Retirement Age, died or incurred (and
satisfied all of the requirements for) a Disability.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Notwithstanding the provisions of Paragraph (ii)&nbsp;above, in the event that
the limitations set forth therein cause the Plan to fail to satisfy for any Plan
Year the requirements of Code Section 410(b) and the regulations thereunder because
of the exclusion of certain Participants as being deemed to be benefiting under the
Plan, based on the allocation in Paragraph (i), then the Employer contributions
under Paragraph (i)&nbsp;shall be allocated for such Plan Year as of the last day of the
Plan Year among all Participants who were credited with a Period of Service of more
than three (3)&nbsp;consecutive calendar months during the Plan Year or were employed on
the last day of the Plan Year or who were not employed on the last day of the Plan
Year but either retired at or after Normal Retirement Age, died or incurred a
Disability during the Plan Year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;In the event of the return of any Excess Contribution or Excess Deferral to a Participant,
no Matching Contribution pursuant to (a)&nbsp;and (b)&nbsp;above shall be made with respect to the amount
returned and, if made prior to a determination of Excess Contribution or Excess Deferral, shall be
forfeited.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;No Matching Contribution shall be made under this Section&nbsp;4.4 for any Participant for any
Plan Year with respect to After-Tax Contributions or any Catch-Up Contributions.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 <U><B>Actual Contribution Percentage</B></U>. (a)&nbsp;The Matching Contributions and After-Tax
Contributions made by or on behalf of the Highly Compensated Group in any Plan Year shall not
exceed the maximum amount so that the &#147;Actual Contribution Percentage,&#148; as
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">determined pursuant to (b)&nbsp;below, for the Highly Compensated Group for the current Plan Year
does not exceed the Actual Contribution Percentage for the Non Highly Compensated Group for the
current Plan Year, by the greater of:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) One hundred and twenty-five percent (125%); or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Subject to (b)&nbsp;below, the lesser of two (2)&nbsp;percentage points or two
hundred percent (200%).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, this Section&nbsp;4.5(a) may be applied using the Actual
Contribution Percentage for the Non Highly Compensated Group for the preceding Plan Year rather
than the current Plan Year provided that an election to use the current Plan Year must be made
pursuant to Code Section&nbsp;401(m)(2)(A) and any regulations or other published guidance thereunder.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Actual Contribution Percentage for a specified group of Participants for a Plan Year
shall be the average of the &#147;Contribution Percentage&#148; of each Participant in such group, where such
Contribution Percentage shall be equal to the ratio of:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The sum of the After-Tax Contributions and the Matching Contributions made
to the Plan on behalf of each Participant for the applicable Plan Year (other than
those that cannot be considered as a result of Section&nbsp;4.1(i) above), plus to the
extent permitted under Treasury Regulation&nbsp;Section&nbsp;1.401(m)-1(b)(5), some or all of
the contributions under Section&nbsp;4.1; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The Participant&#146;s Section&nbsp;414 Compensation for the applicable Plan Year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) (i)&nbsp;Excess Aggregate Contributions shall be reduced to satisfy Paragraph (a)&nbsp;above.
Excess Aggregate Contributions shall mean with respect to any Plan Year, the excess of (1)&nbsp;the
aggregate amount of contributions made pursuant to Section&nbsp;4.4 actually paid over to the Trust on
behalf of the Highly Compensated Group for such Plan Year, over (2)&nbsp;the maximum amount of such
contributions permitted under the preceding Paragraph (a). The amount of Excess Aggregate
Contributions for Highly Compensated Employees will be determined using the &#147;ratio leveling&#148; method
in accordance with Internal Revenue Service Notice 97-2, 197-2 I.R.B. 22, or any subsequent
guidance from the Internal Revenue Service. Reductions shall be determined by reducing
contributions made on behalf of members of the Highly Compensated Group in order of the dollar
amounts of the total After-Tax Contributions and Matching Contributions beginning with the largest
of such dollar amounts of total After-Tax Contributions and Matching Contributions, as adjusted as
reduction takes place. Excess Aggregate Contributions shall be reduced in the following order:
first After-Tax Contributions and then Matching Contributions.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Excess Aggregate Contributions for any Plan Year (and any income
allocable to such contributions) shall be distributed before the last day of the
next Plan Year to the members of the Highly Compensated Group on the respective
portions of the Excess Aggregate Contributions attributable to each such member,
provided that any such amounts not distributed before March&nbsp;15 of
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">the next Plan Year will be subject to an excise tax on the Employer under Code
Section&nbsp;4979. The amount of Excess Aggregate Contributions to be distributed to an
Employee for a Plan Year shall be reduced by Excess Aggregate Contributions
previously distributed to the Employee for the Plan Year.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the method used for computing income or loss allocable to Excess Aggregate
Contributions shall be determined in accordance with Section&nbsp;6.9 hereof. There
shall be no income allocable to Excess Aggregate Contributions during the period
between the end of the Plan Year and the date of distribution of the Excess
Aggregate Contributions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;All determinations and procedures with regard to the matters covered by Paragraphs (a),
(b)&nbsp;and (c)&nbsp;of this Section&nbsp;4.5 shall be made in accordance with Code Section 401(m) and Treasury
Regulation&nbsp;Section&nbsp;1.401(m)-1.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 <U><B>Qualified Non-Elective Contributions</B></U>. To the extent permitted under the Code,
within twelve (12)&nbsp;months after the close of the Plan Year (or within such greater time if
permitted by the Internal Revenue Service), the Employer, in its sole discretion, may make QNECs on
behalf of one or more members of the Non Highly Compensated Group to their QNEC Accounts in an
amount sufficient to satisfy one of the tests set forth in Section&nbsp;4.1(b) or Section&nbsp;4.5(a). QNECs
shall be allocated to Participants who are in the Non Highly Compensated Group starting with the
Participant with the lowest Compensation for the Plan Year until such Participant has reached the
limitation under Section&nbsp;4.10 hereof and progressing thereafter in similar manner in reverse order
of Compensation for the Plan Year until such QNECs are fully utilized.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 <U><B>Profit Sharing Contributions</B></U>. (a)&nbsp;If the Employer elects, in its sole and
absolute discretion, to make contributions to the Plan for the Plan Year other than that pursuant
to Section&nbsp;4.4, the Employer shall contribute to the Profit Sharing Account of each Participant
employed by the Employer, an amount equal to such percentage of Compensation for the Plan Year as
may be determined by the Employer in its sole and absolute discretion; provided that no
contribution shall be made to such Account for any Participant for such Plan Year unless (i)&nbsp;he is
employed by the Employer on the last day of the Plan Year or (ii)&nbsp;during such Plan Year the
Participant retired at or after attaining his Normal Retirement Age, died or incurred (and
satisfied all of the requirements for) a Disability. Such contributions shall be allocated to each
Participant based on the proportion of the Participant&#146;s Compensation for the Plan Year to the
total Compensation for the Plan Year of all Participants employed by the Employer who are eligible
to have an allocation made to their Profit Sharing Account pursuant to this Section&nbsp;4.7.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Notwithstanding the provisions of Paragraph (a)&nbsp;above, in the event the limitations set
forth therein cause the Plan to fail to satisfy for any Plan Year the requirements of Code Section
410(b) and the regulations thereunder because of the exclusion of certain Participants as being
deemed to be benefiting under the Plan, based on the allocation in Paragraph (a), then the Employer
contributions under Paragraph (a)&nbsp;shall be allocated for such Plan Year as of the last day of the
Plan Year among all Participants who were credited with a Period of Service of more than three (3)
consecutive calendar months during the Plan Year or were employed on the last day of the Plan Year
or who were not employed on the last day of the
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Plan Year but either retired at or after Normal Retirement Age, died or incurred a Disability
during the Plan Year.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7 <U><B>Time of Contributions</B></U>. Contributions shall be made for each Plan Year within the
time permitted by law.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8 <U><B>Rollovers</B></U>. With respect to any Eligible Employee, the Plan will accept a direct
rollover of an Eligible Rollover Distribution, as defined in Section&nbsp;7.9 of the Plan, from a
qualified plan described in Sections 401(a) or 403(a) of the Code, an annuity contract described in
Section 403(b) of the Code and an eligible plan under Section 457(b) of the Code which is
maintained by a state, political subdivision of a state, or any agency or instrumentality of a
state or political subdivision of a state, or any agency or instrumentality of a state or political
subdivision of a state and the portion of a distribution from an individual retirement account or
annuity described in Section 408(a) or 408(b) of the Code that is eligible to be rolled over.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.9 <U><B>Limitations on Contributions</B></U>. (a)&nbsp;Section&nbsp;415(c) of the Code is incorporated by
reference into the Plan, and notwithstanding anything herein shall override any Plan provision to
the contrary. Contributions and other Annual Additions under the Plan are subject to the
limitations of Section&nbsp;415 of the Code. Section&nbsp;414 Compensation shall be used for purposes of the
limitations imposed by Code Section&nbsp;415. &#147;Annual Additions&#148; shall mean the sum, for any Limitation
Year, of employer contributions, employee contributions (without regard to rollover contributions)
and forfeitures, including 401(k) Contributions, After-Tax Contributions, Matching Contributions,
QNECs and Profit Sharing Contributions.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;If as a result of reasonable error in estimating a Participant&#146;s Section&nbsp;414 Compensation,
or as a result of such other circumstances as may be permitted under applicable Treasury
Regulations, Annual Additions to a Participant&#146;s Account shall in any Plan Year exceed the maximum
permitted under Code Section&nbsp;415, the Committee shall, pursuant to the provisions of Section
1.415-6(b)(6) of the Treasury Regulations (or any successor provision thereto),
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) reduce Annual Additions in the following priority including any income
allocable to any such contributions: After-Tax Contributions; then unmatched 401(k)
Contributions (and any income allocable to such contributions); then Profit Sharing
Contributions, then QNECS, and if any excess then still exists, matched 401(k)
Contributions and the related Matching Contributions proportionately; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) treat the excess amounts as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Excess amounts attributable to After-Tax Contributions or 401(k)
Contributions and any income thereon shall be distributed to the Participant
pursuant to the provisions of Treasury Regulation&nbsp;Section&nbsp;1.415-6(b)(6)(iv).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Pursuant to the provisions of Treasury Regulation&nbsp;Section
1.415-6(b)(6)(ii), the excess amounts attributable to Profit Sharing
Contributions, Matching Contributions and QNECs and any income thereon shall
be used to reduce Profit Sharing Contributions, Matching
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">Contributions and QNECs for the next Limitation Year (and succeeding
Limitation Years, as necessary) for that Participant if that Participant is
covered by the Plan as of the end of such Limitation Year.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) If the Participant is not covered by the Plan as of the end of the
next Limitation Year, then the excess amounts attributable to Profit Sharing
Contributions, Matching Contributions and QNECs and any income thereon shall
be held unallocated in a suspense account for the Limitation Year and
allocated and reallocated in the next Limitation Year (and succeeding
Limitation Years, as necessary) as Profit Sharing Contributions, Matching
Contributions and QNECs to all of the remaining Participants in the Plan
before any other Profit Sharing Contributions, Matching Contributions and
QNECs which would constitute Annual Additions are made to the Plan for such
Limitation Year.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Excess amounts attributable to Profit Sharing Contributions,
Matching Contributions and QNECs and any income thereon may not be
distributed to Participants or former Participants.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Notwithstanding anything herein to the contrary, in the event the Annual Additions on
behalf of a Participant in any Limitation Year exceeds the limitation of Code Section&nbsp;415 and the
Participant participates in more than one defined contribution plan that is qualified under Section
401(a) of the Code and maintained by the Employer, such Annual Additions shall be reduced by
reducing contributions to this Plan, and if any excess then still exists, by limiting or reducing
contributions to any other plan of the Employer, or any other entity aggregated under Section
415(g) of the Code, that is qualified under Section 401(a) of the Code.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;In no event shall the aggregate contributions by the Employer under this Article&nbsp;IV, when
combined with amounts contributed pursuant to Section&nbsp;4.1 hereof and any other plan of the Employer
qualified under Section 401(a) of the Code be in excess of the amounts deductible pursuant to
Section&nbsp;404(a)(3) of the Code, or the section of any future Code provision limiting deductions to
profit-sharing plans.
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE V</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>VESTING AND FORFEITURES</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 <U><B>Vesting of Interest of Participant in Trust Fund</B></U>. (a)&nbsp;A Member shall be fully
vested in his 401(k) Account, Catch-Up Contribution Account, QNEC Account, Rollover Account and
After-Tax Account at all times and such Account balances shall at all times be nonforfeitable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Subject to Exhibit&nbsp;B, the portion of such Participant&#146;s Accrued Benefit in his Matching
Contribution Account and Profit Sharing Account which shall become vested and nonforfeitable shall
be based on his number of years in his Period of Service according to the following schedule:
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Number of Years in Period of Service</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Nonforfeitable<BR>
Percentage</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">Less than 2
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">2 or more
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">100%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;If any Member shall, while an Employee, attain his Normal Retirement Age or shall die or
incur (and satisfy all of the requirements for) a Disability while he is an Employee, the entire
interest in his Account shall become nonforfeitable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 <U><B>Forfeitures</B></U>. In the event a Member incurs a Termination of Employment, any
portion of the Member&#146;s Matching Contribution Account and Profit Sharing Account to which he is not
then entitled pursuant to Section&nbsp;5.1 hereof shall be forfeited (a &#147;Forfeiture&#148;). A Forfeiture
shall be deemed to take place at the following time:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;If the Member has no vested interest in any of his Accounts, the Forfeiture shall take
place in the Plan Year in which his Termination of Employment occurs. In such case, the Member
shall be deemed to have a distribution of his zero Account Value at the time of his Termination of
Employment.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;If the Member has any vested interest in any of his Accounts, the Forfeiture shall take
place in the Plan Year in which occurs the earlier of (i)&nbsp;completion of the distribution of the
Member&#146;s vested benefits under the Plan or (ii)&nbsp;incurrence by the Member of his fifth (5th)
consecutive one-year Period of Severance.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 <U><B>Restoration of Forfeitures</B></U>. (a)&nbsp;If a Member whose Matching Contribution Account
or Profit Sharing Account was forfeited in its entirety pursuant to Section&nbsp;5.2 above again becomes
employed by an Employer or an Affiliate before he incurs his fifth (5th) consecutive One Year
Period of Severance, the amount of his Forfeiture shall be restored to his Account.
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;If an Employee who received a distribution of less than all of his Matching Contribution
Account and Profit Sharing Account is again employed by an Employer or an Affiliate before he
incurs his fifth (5th) consecutive One Year Period of Severance and repays to the Plan, prior to
the earlier of his incurring his fifth (5th) consecutive One Year Period of Severance or five (5)
years after his Reemployment Commencement Date, the amount of his previous distribution, if any,
the amount of his Forfeitures shall be restored to his Matching Contribution Account and Profit
Sharing Account.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4 <U><B>Use of Forfeitures</B></U>. Forfeitures, if any, shall be first allocated to the Accounts
of Participants entitled to a restoration of their interests in the Plan as described in Section
5.3 of the Plan and the remainder of such Forfeitures shall be used to reduce future contributions
by the Employer and pay the expenses of operating the Plan and Trust.
</DIV>


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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE VI</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>ALLOCATION</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 <U><B>401(k) Accounts</B></U>. 401(k) Contributions shall be allocated to the 401(k) Account of
each Member who entered into a salary reduction agreement pursuant to which such contributions were
made.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 <U><B>Catch-Up Contribution Account</B></U>. Catch-Up Contributions made pursuant to Section
4.2 shall be allocated to the Catch-Up Contribution Account of each Member who entered into a
salary reduction agreement pursuant to which such Catch-Up Contributions were made.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 <U><B>After-Tax Account</B></U>. After-Tax Contributions shall be allocated to the After-Tax
Account of each Member for whom such contributions have been made pursuant to Section&nbsp;4.3 hereof in
the amount of the After-Tax Contributions for each Member.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 <U><B>Matching Contribution Accounts</B></U>. Matching Contributions for any Plan Year shall be
allocated to the Matching Contribution Account of each Member for whom such contributions have been
made pursuant to Section&nbsp;4.4 hereof in the amount of the Matching Contributions for each Member.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 <U><B>QNEC Account</B></U>. Contributions to the QNEC Account, if any, shall be allocated to
the Accounts of each Member for whom QNECs have been made pursuant to Section&nbsp;4.6 hereof in the
amount of the QNECs for such Member.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6 <U><B>Profit Sharing Accounts</B></U>. Profit Sharing Contributions for any Plan Year shall be
allocated to the Profit Sharing Account of each Member for whom such contributions have been made
pursuant to Section&nbsp;4.7 hereof in the amount of the Profit Sharing Contributions for each Member.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7 <U><B>Rollover Account</B></U>. Rollover Contributions shall be allocated to the Rollover
Account of the Member who made the Rollover Contribution to the Plan as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Rollover Contributions made to the Plan, excluding portion of a rollover contribution that
would not otherwise be includible in the Eligible Employee&#146;s taxable gross income, shall be
allocated to the Members General Rollover Account.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The portion of any Rollover Contributions that consist of after-tax contributions that
would not have been includible in the Member&#146;s gross income if received directly by him shall be
allocated to the Member&#146;s After-Tax Rollover Account.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.8 <U><B>Valuation of the Trust Fund</B></U>. The Trust Fund shall be valued at Fair Market Value
by the Trustee on or as of each Valuation Date, with appropriate allocations and adjustments for
any items of income, expenses, gains and losses, and all other transactions since the prior
Valuation Date. The net income thus arrived at, exclusive of forfeitures (and net income thereon),
shall be allocated on a basis of Account balances and in a fair and

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<DIV style="font-family: 'Times New Roman',Times,serif">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">nondiscriminatory manner according to the rules established by the Committee, and which shall
reflect the interests of the Members during such Plan Year (or between Valuation Dates, if earlier)
in the Investment Options and in the Trust Fund. Unless paid by the Employer, all fees, expenses
and taxes levied or assessed against the Trust Fund shall be paid by the Trust Fund, provided,
however, that each Member shall bear any fees of the Trustee or Investment Option charged with
regard to maintaining his Account that are not paid by the Employer. The interest of each Member
in the Expedia Stock Option shall be expressed as shares of Expedia Stock. The interest of each
Member in the Investment Options (other than the Expedia Stock Option) shall be expressed in
accordance with the valuation methods and practices of the entity maintaining the Investment
Option. Each Member shall bear any fees of the Trustee or Investment Option charged with regard to
maintaining his Account that are not paid by the Employer, in its sole discretion.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.9 <U><B>Investment of Accounts</B></U>. (a)&nbsp;Subject to the rules of the Committee, a Member may
elect to have his Account and future contributions made on his behalf to such Account, invested in
such percentages as permitted by the Committee in one or more of the Investment Options, which
shall be funds maintained or established by a bank, trust company, insurance company, mutual fund
or investment company, designated by the Committee as Investment Options under this Section&nbsp;6.11.
Of the designated Investment Options, there shall be at least three (3)&nbsp;Investment Options (which
together provide a broad range of investment alternatives as contemplated under Section 404(c) of
ERISA and the regulations thereunder) and the Expedia Stock Option. From time to time the
Committee may designate additional Investment Options, withdraw the designation of Investment
Options or change designated Investment Options.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Upon first entering into a salary reduction agreement with an Employer or upon request of
the Committee or at such other times permitted by the Committee, each Member shall elect the manner
in which his Account and future contributions made on his behalf to such Account, are to be
invested. Unless specifically permitted by the Committee, an investment election shall apply
consistently to each sub-account and future contributions to such Account shall be invested in the
same manner and proportion. Notwithstanding the foregoing, if a mutual fund or separate account is
designated by the Committee as a vehicle for investing contributions and the bank, trust company,
insurance company, mutual fund or investment company maintaining the mutual fund or separate
account or a third party administrator permits telephonic elections or electronic transmissions
regarding the manner in which a Member&#146;s Account and future contributions made on behalf of him are
invested, the Committee may provide for such telephonic elections or electronic transmissions. If
no election is made by the Member, the Member&#146;s Account and future contributions shall be invested
in a managed income fund or other Investment Option designated by the Committee. If the Member
fails to change his election, the previous investment election shall remain effective until the
Member affirmatively changes his investment election. Subject to the provisions of the governing
documents of the Investment Options involved, if there is a change in designated Investment Options
and a Member does not make a new election, he will be deemed to have designated investment in the
designated Investment Options most similar to those previously elected and in the same proportion
as previously elected. Subject to any limitations imposed by the Investment Options, a Member (or
in the event of the Member&#146;s death, the Member&#146;s Beneficiary) may change his election of designated
Investment Options with regard to future contributions and current Account Values as

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<DIV style="font-family: 'Times New Roman',Times,serif">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">of the first day of any Payroll Period (or at such additional times as may be permitted by the
Committee) by filing a new election with the Committee at such times and in such manner as may be
prescribed by the Committee and with such prior notice as specified by the Committee in advance of
the date the change is to become effective or, if telephonic elections or elections by electronic
transmission are permitted, with such notice as required by the bank, trust company, insurance
company, mutual fund or investment company maintaining the mutual fund or third party
administrator. Subject to the rules of the Investment Options and the Committee, including,
without limitation, rules restricting the availability of transfers and setting minimum or maximum
amounts that may be transferred and when transfers are permitted, a Member (or in the event of the
Member&#146;s death, the Member&#146;s Beneficiary) may transfer all or a part of his Account from one
Investment Option to another Investment Option in such percentages as permitted by the Committee.
All elections and transfers shall be subject to rules established by the Committee and by the bank,
trust company, mutual fund or investment company maintaining the Investment Option.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;With respect to a Member&#146;s Account, each Member shall be solely responsible for the
investment of his Account under the Plan. The fact that an Investment Option is available under
the Plan shall not be considered an investment recommendation. The Employer intends that this Plan
conform to Section 404(c) of ERISA and Department of Labor Regulation&nbsp;Section&nbsp;2550.404c-1 and that
the Plan and Trust are operated and administered in accordance with such provisions. With respect
to any investment election or other direction by a Member, none of the Trustee, the Plan
Administrator, the Committee or the Employer shall be under any duty to question any such direction
of a Member (or, in the event of the Member&#146;s death, the Member&#146;s Beneficiary). The Trustee shall
comply as promptly as is practicable with the directions given by a Member or by a Beneficiary in
accordance with the terms of the Plan. None of the Trustee, the Plan Administrator, the Committee
or the Employer shall be responsible or liable for any loss or expense which may arise from or
result from compliance with any directions from the Member (or, in the event of the Member&#146;s death,
the Member&#146;s Beneficiary).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;A Member may also direct the investment of any part of his Account to a brokerage account
(a &#147;Brokerage Account&#148;) maintained by an investment company selected by the Committee that allows
Members to invest in individual stocks, bonds, mutual funds and options, excluding Expedia Stock
and those mutual funds otherwise offered under the Plan. Investment in through a Brokerage Account
is subject to terms and conditions as may be established by the applicable investment company from
time to time. Members who elect to invest through a Brokerage Account will be charged an annual
fee and transaction fees. As an express condition for establishing or maintaining a Brokerage
Account, a Member shall be required to execute such forms as may be required by the Committee or
Investment Company. A Member who maintains a Brokerage Account shall be deemed a &#147;named fiduciary&#148;
within the meaning of Section&nbsp;402(a)(1) of ERISA with respect to his Brokerage Account.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;For purposes of this Section&nbsp;6.10, a Member&#146;s alternate payee under a &#147;qualified domestic
relations order,&#148; as defined in Section 414(p) of the Code or, in the event of a Member&#146;s death,
the Member&#146;s Beneficiary, shall have all rights of a Member.
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10 <U><B>Investments in IAC Stock and Expedia Stock</B></U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;On the Distribution Date, shares of Expedia Stock shall be credited to each Member&#146;s
Account on a pro rata basis in proportion to the shares of IAC Stock held by such Member in his
Account in the Plan on the record date for the distribution.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Subject to the provisions of Section&nbsp;6.10 of the Plan, a Member may direct that up to the
total value of his Account invested in IAC Stock be transferred to any other Investment Option
available under the Plan. In no event shall the IAC Stock be available for the investment of
future contributions or the receipt of transfers from other Investment Options available under the
Plan.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Effective as of the close of business on December&nbsp;30, 2005, the IAC Stock held in a
Member&#146;s Account shall be liquidated and reinvested as of the next Valuation Date in each of the
other Investment Options in accordance with the Member&#146;s last investment election made under the
Plan for future contributions pursuant to Section&nbsp;6.10(a) of the Plan.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;The Committee may, in its discretion, impose at any time or from time to time restrictions
on, or additional rules with respect to, transfers from IAC Stock to other Investment Options
available under the Plan, as the Committee deems necessary or appropriate.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <U>Distributions of Stock</U>. IAC Stock shall be treated in the same manner as Expedia
Stock for purposes of Articles VII, VIII and IX.
</DIV>



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</DIV>


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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE VII</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>DISTRIBUTIONS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 <U><B>General Rule</B></U>. Except as otherwise provided in this Article or prohibited by law,
a Member&#146;s vested Account balance under the Plan shall be available to the Member for distribution
at any time after any of the following:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;the Member&#146;s retirement at or after his Normal Retirement Age;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;the Member&#146;s death or Disability;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;the Member&#146;s Termination of Employment; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;as set forth in Article&nbsp;VIII below; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;as set forth in Article&nbsp;IX.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Such distribution shall be made to the Member on or as soon as administratively feasible (and
in accordance with the Plan&#146;s administrative procedures) following the Benefit Starting Date
requested in writing by the Member (or in the event of the Member&#146;s death, his Beneficiary). The
Benefit Starting Date may not be more than ninety (90)&nbsp;days after such request and, except as
provided below, may not be less than thirty (30)&nbsp;days after such request. The Member&#146;s
distribution shall be based on the Value on the last Valuation Date prior to the date of actual
distribution (and any contributions made since that Valuation Date), provided that no distribution
may be made until the Committee has provided the Member with a notice regarding his rights and
benefits under the Plan not more than ninety (90)&nbsp;days or less than thirty (30)&nbsp;days prior to the
Member&#146;s Benefit Starting Date. Notwithstanding the foregoing, a Member may elect a Benefit
Starting Date earlier than thirty (30)&nbsp;days after receiving such notice from the Committee,
provided that:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Member has been clearly informed that he has a right to a period of at
least thirty (30)&nbsp;days after receiving the notice to consider the decision of
whether or not to elect a distribution; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Member, after receiving the notice, affirmatively elects a
distribution.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Until the Benefit Starting Date, the Member&#146;s Account shall be retained in the Trust Fund and
revalued pursuant to Section&nbsp;6.9 hereof. Between the Benefit Starting Date and the actual date on
which distribution commences, the Member&#146;s Account shall be revalued pursuant to Section&nbsp;6.9 hereof
and, therefore, shall continue to share in gains and losses.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 <U><B>Death of a Member</B></U>. (a) <U>Death Prior to Commencement of Benefits</U>. If a
Member shall die prior to his Benefit Starting Date, the Member&#146;s Account shall be distributed to
such Member&#146;s Spouse (or other Beneficiary designated with the consent of his Spouse (if any) in
accordance with Section&nbsp;7.5) as soon as administratively feasible after the Beneficiary&#146;s
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">election to receive a distribution, but no later than the last day of the year following the
year of the Member&#146;s death.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <U>Death After Commencement of Benefits</U>. In the event that a Member dies on or after
his Benefit Starting Date, his surviving Spouse or other Beneficiary (designated with the consent
of his Spouse (if any) in accordance with Section&nbsp;7.5) shall receive such benefits on the last day
of the calendar year following the year of the Member&#146;s death (or at any time earlier elected by
the Beneficiary).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <U>Death of Spouse or Beneficiary Before Payment</U>. If a Spouse or Beneficiary
entitled to receive benefits hereunder as a result of the previous death of the Member dies prior
to commencement of such benefit, the Value of the Account allocable to the Spouse or other
Beneficiary shall be paid to the legal representative of the estate of such Spouse or other
Beneficiary. A Member&#146;s election of a nonspousal Beneficiary is revocable by the Member at any
time before his death.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3 <U><B>Form of Retirement Benefit Distributions</B></U>. A Member or, in the event of the
Member&#146;s death, the Member&#146;s Beneficiary, shall have the vested portion of the Member&#146;s Accrued
Benefit distributed in a lump sum payment consisting of (i)&nbsp;cash equal to the Fair Market Value of
the interest of the Member&#146;s Account in the Investment Options (including, if elected by the Member
(or, in the event of the Member&#146;s death, the Member&#146;s Beneficiary), the Fair Market Value of the
interest of the Member&#146;s Account in Expedia Stock) and (ii)&nbsp;if elected by the Member, Expedia Stock
representing all or a portion of the Fair Market Value of the interest of the Member&#146;s Account in
Expedia Stock. Fractional shares of Expedia Stock shall be aggregated to create whole shares of
Expedia Stock, which shall be distributed in the form of whole shares of Expedia Stock, if the
Member or, in the event of the Member&#146;s death, the Member&#146;s Beneficiary, elects to receive all or a
portion of his interest in Expedia Stock. Notwithstanding the foregoing, cash shall be distributed
in lieu of excess fractional shares of Expedia Stock.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4 <U><B>Proof of Death and Right of Beneficiary</B></U>. The Committee may require and rely upon
such proof of death and such evidence of the right of any Beneficiary to receive the undistributed
vested Value of the Account of a deceased Member as the Committee may deem proper, and its
determination of death and of the right of such Beneficiary to receive payments shall be
conclusive.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5 <U><B>Consent of Spouse</B></U>. Whenever the terms of this Plan require that the consent of a
Member&#146;s Spouse be obtained, such consent shall be valid only if it is in writing, contains an
acknowledgment by such Spouse of the effect of such consent, designates a Beneficiary (or a form of
benefits) which may not be changed without the consent of the Spouse (unless such consent
specifically permits designation by the Member without any requirement of further consent of the
Spouse) and is witnessed either by a representative of the Plan or by a notary public; provided,
however, that, in accordance with Treasury Regulation&nbsp;Section&nbsp;1.401(a)-20, the consent of a
Member&#146;s Spouse shall not be required in the event that the Member establishes to the satisfaction
of the Plan Administrator that he has no Spouse, that such Spouse cannot be located, or under such
other circumstances as may be permitted under applicable Treasury regulations. Any consent of a
Member&#146;s Spouse obtained in accordance
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">with the provision of this Section&nbsp;7.5 shall be revocable by the Member during his lifetime
without the consent of the Member&#146;s Spouse. Unless a qualified domestic relations order, as
defined in Section 414(p) of the Code, requires otherwise, a Spouse&#146;s consent shall not be required
(and, hence, shall for purposes of this Plan be deemed given) if the Member is legally separated or
the Member has been abandoned (within the meaning of local law) and the Member has a court order to
such effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6 <U><B>Cash-Outs</B></U>. Notwithstanding any other provision of the Plan to the contrary, if
the Member&#146;s vested Accrued Benefit is equal to or less than five thousand dollars ($5,000) at the
time of his Termination of Employment (or is otherwise immediately distributable) or upon any
Valuation Date (or such other dates as the Committee may determine in accordance with its rules and
procedures) thereafter prior to his Benefit Starting Date, such vested Account balance shall be
distributed in the form of a lump sum distribution without the consent of the Member. Solely for
purposes of this Section, the vested portion of a Member&#146;s Accrued Benefit shall be determined
without regard to the Value of the Member&#146;s Rollover Account.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the event of an automatic distribution to be made in accordance with the provisions of this
section in an amount that exceeds $1,000, if the Member does not elect to have such distribution
paid directly to an Eligible Retirement Plan, as defined in Section&nbsp;7.9 of the Plan, specified by
the Member in a Direct Rollover, as defined in Section&nbsp;7.9 of the Plan, or to receive the
distribution directly in accordance with the terms of the Plan, then the Plan Administrator shall
pay the distribution in a Direct Rollover, as defined in Section&nbsp;7.9 of the Plan, to an individual
retirement plan designed by the Plan Administrator.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.7 <B><U>Limitation on Distribution from 401(k) Accounts, Catch-Up Contribution Accounts and QNEC Accounts</U>.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Notwithstanding anything else herein and without expanding the rights with regard to
distributions otherwise set forth herein, no distribution shall be made from a Participant&#146;s 401(k)
Account, Catch-Up Contribution Account or QNEC Account prior to:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Separation from employment, Death or Disability;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Termination of the Plan without establishment or maintenance of another
defined contribution plan (other than an employer stock ownership plan as defined in
Code Section&nbsp;4975(e)(7));
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The disposition by the Employer of substantially all of the assets
(within the meaning of Code Section&nbsp;409(d)(2)) used by the Employer in a trade or
business of the Employer, but only with respect to an Employee who continues
employment with the corporation acquiring the assets;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) The disposition by an Employer of its interest in a subsidiary (within the
meaning of Code Section&nbsp;409(d)(3)), but only with respect to an Employee who
continues employment with such subsidiary;
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) The attainment of age fifty-nine and one-half (59-<FONT style="font-size: 70%"><SUP>1</SUP></FONT>/<FONT style="font-size: 60%">2</FONT>) by the Participant; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) In the case of the 401(k) Account and the Catch-Up Contribution Account, a
Participant experiencing a Hardship, as defined in Section&nbsp;9.1.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;With regard to subparts (ii), (iii)&nbsp;and (iv)&nbsp;of Paragraph (a)&nbsp;above, any distribution made
by reason of one of such events must be a lump sum distribution (as defined in Code Section
402(e)(4)(D) (without regard to clauses (I), (II), (III)&nbsp;and (IV)&nbsp;of clause (i)&nbsp;thereof). With
regard to subparts (iii)&nbsp;and (iv)&nbsp;of Paragraph (a)&nbsp;above, such event shall be deemed covered by
such subpart only if the Employer continues to maintain the Plan after the disposition. The
foregoing limitations on distributions are intended to comply with the requirements of Code Section
401(k)(2)(B) and shall therefore be interpreted in accordance with such Code Section and the
regulations thereunder.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.8 <U><B>Eligibility for Distributions</B></U>. Notwithstanding anything else herein, a Member
shall be eligible to receive payment, or to commence payment, under the Plan of his benefits no
later than sixty (60)&nbsp;days after the end of the Plan Year in which the latest of the following
occurs:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Member&#146;s attainment of age sixty-five (65);
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The tenth (10th) anniversary of the year in which the Member began
participation in the Plan; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Member&#146;s Termination of Employment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.9 <U><B>Rollover Provisions</B></U>. (a)&nbsp;Notwithstanding any provision of the Plan to the
contrary that would otherwise limit a Distributee&#146;s election under this Section, a Distributee may
elect, at the time and in the manner prescribed by the Plan Administrator, to have any portion of
an Eligible Rollover Distribution paid directly to an Eligible Retirement Plan specified by the
Distributee in a Direct Rollover. The Committee shall have the authority to set minimums and
maximums with respect to Eligible Rollover Distributions and adopt other guidelines and
administrative procedures that are necessary or desirable to administer the direct rollover rules
under this Section.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;An &#147;<B><I>Eligible Rollover Distribution</I></B>&#148; is any distribution of all or any portion of the
balance to the credit of the Distributee, except that an Eligible Rollover Distribution does not
include:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Any distribution that is one of a series of substantially equal periodic
payments (not less frequently than annually) made for the life (or life expectancy)
of the Distributee or the joint lives (or joint life expectancies) of the
Distributee or the Distributee&#146;s designated Beneficiary, or for a specified period
of ten years or more;
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Any distribution to the extent such distribution is required under Section
401(a)(9) of the Code;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The portion of any distribution that is not includable in gross income
(determined without regard to the exclusion for net unrealized appreciation with
respect to Expedia Stock);
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Any amount that is distributed from the Plan or any other plan on account
of hardship, including, without limitation, any hardship distribution of 401(k)
Contributions under Section&nbsp;9.1 of the Plan or other plan or as otherwise described
in Code Section&nbsp;401(k)(2)(B)(i)(IV); or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Any other distribution that is hereafter not an eligible rollover
distribution under applicable law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, a portion of a distribution shall not fail to be an Eligible
Rollover Distribution merely because a portion consists of after-tax employee contributions which
are not includible in gross income, provided, however, such portion may be transferred only to an
individual retirement account or annuity described in Section 408(a) or 408(b) of the Code, or to a
qualified defined contribution plan described in Section 401(a) or 403(a) of the Code that agrees
to separately account for amounts so transferred, including separately accounting for the portion
of such distribution which is includible in gross income and the portion of such distribution which
is not so includible.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;An &#147;<B><I>Eligible Retirement Plan</I></B>&#148; is an individual retirement account described in Section
408(a) of the Code, an individual retirement annuity described in Section 408(b) of the Code, an
annuity plan described in Section 403(a) of the Code, or a qualified trust described in Section
401(a) of the Code, an annuity contract described in Section 403(b) of the Code and an eligible
plan under Section 457(b) of the Code which is maintained by a state, political subdivision of a
state, or any agency or instrumentality of a state or political subdivision of a state and which
agrees to separately account for amounts transferred into such plan from this Plan that accepts the
Distributee&#146;s Eligible Rollover Distribution. The definition of Eligible Retirement Plan shall
also apply in the case of a distribution to a surviving Spouse, or to a Spouse or former Spouse who
is the alternate payee under a qualified domestic relation order, as defined in Section 414(p) of
the Code.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;A &#147;<B><I>Distributee</I></B>&#148; includes an Employee or former Employee. In addition, the Employee&#146;s or
former Employee&#146;s surviving Spouse and the Employee&#146;s or former Employee&#146;s Spouse or former Spouse
who is the alternate payee under a qualified domestic relations order, as defined in Section 414(p)
of the Code, are Distributees with regard to the interest of the Spouse or former Spouse.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;A &#147;<B><I>Direct Rollover</I></B>&#148; is a payment by the Plan to the Eligible Retirement Plan specified by
the Distributee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.10 <B><U>Unclaimed Payments</U></B>. In the event that all, or any portion, of the distribution
payable to a Member or his Beneficiary hereunder shall, at the expiration of five (5)
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">years after it shall become payable, remain unpaid solely by reason of the inability of the
Plan Administrator, after sending a registered letter, return receipt requested, to the last known
address, and after requesting the cooperation of the Social Security Administration or Pension
Benefit Guaranty Corporation to ascertain the whereabouts of such Member or his Beneficiary, the
amount so distributable shall be deposited into a suspense account and used to reduce future
Employer Contributions. In the event a Member or Beneficiary is located subsequent to his benefit
being forfeited, such benefit shall be restored by the Employer.
</DIV>


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</DIV>

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE VIII</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>MINIMUM DISTRIBUTION REQUIREMENTS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 <U><B>Definitions</B></U>. The definitions apply to this Article&nbsp;VIII and unless otherwise
specifically stated in another section hereof do not apply to any other section of this Plan.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <U>Designated Beneficiary</U>. The individual who is designated as a Member&#146;s
Beneficiary under the Plan and is the designated beneficiary under Code Section&nbsp;401(a)(9) and
Treasury Regulation&nbsp;Section&nbsp;1.401(a)(9)-1, Q&#038;A-4.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <U>Distribution Calendar Year</U>. A calendar year for which a minimum distribution is
required. For distributions commencing before the Member&#146;s death, the first Distribution Calendar
Year shall be the calendar year immediately preceding the calendar year which contains the Member&#146;s
Required Beginning Date. For distributions commencing after the Member&#146;s death, the first
Distribution Calendar Year is the calendar year in which distributions are required to commence
under Section&nbsp;8.2(b)(ii). The required minimum distribution for the Member&#146;s first Distribution
Calendar Year will be made on or before the Member&#146;s Required Beginning Date. The required minimum
distribution for other Distribution Calendar Years, including the required minimum distribution for
the Distribution Calendar Year in which the Member&#146;s Required Beginning Date occurs, shall be made
on or before December&nbsp;31 of that Distribution Calendar Year.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <U>Life Expectancy</U>. Life expectancy as computed by use of the Single Life Table in
Treasury Regulation&nbsp;Section&nbsp;1.401(a)(9)-9.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <U>Member&#146;s Account Balance</U>. The Member&#146;s Account Balance as of the last Valuation
Date in the Valuation Calendar Year increased by the amount of any contributions made and allocated
to, the Member&#146;s Account Balance as of dates in the Valuation Calendar Year after the Valuation
Date and decreased by distributions made in the Valuation Calendar Year after the Valuation Date.
The Member&#146;s Account Balance for the Valuation Calendar Year includes any amounts rolled over or
transferred to the Plan with respect to the Member (as adjusted for earnings and losses thereon)
either in the Valuation Calendar Year or in the Distribution Calendar Year if distributed or
transferred in the Valuation Calendar Year.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <U>Required Beginning Date</U>. The April 1st following the end of the calendar year in
which occurs the later of (x)&nbsp;the Member&#146;s attainment of age seventy and one-half (70-<FONT style="font-size: 70%"><SUP>1</SUP></FONT>/<FONT style="font-size: 60%">2</FONT>) and (y)
the Member&#146;s Termination of Employment. Notwithstanding the foregoing, with respect to a Member
who is a 5&nbsp;percent (5%) owner, as defined in Section 416(i) of the Code, the &#147;Required beginning
Date&#148; shall be the April 1st following the end of the calendar year in which the Member attains age
seventy and one-half (70-<FONT style="font-size: 70%"><SUP>1</SUP></FONT>/<FONT style="font-size: 60%">2</FONT>), whether or not he is then employed.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <U>Valuation Calendar Year</U>. The calendar year immediately preceding the Distribution
Calendar Year.
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2 <B><U>Required Commencement Date</U></B>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Notwithstanding Sections&nbsp;7.2 and 7.5 of the Plan, the provisions of this Section shall
apply for purposes of determining required minimum distributions for calendar years beginning with
the 2003 calendar year.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The requirements of this Section shall take precedence over any
inconsistent provisions of the Plan.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) All distributions required under this Section shall be determined and made
in accordance with Treasury Regulations under Code Section&nbsp;401(a)(9).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <U>Time and Manner of Distribution</U>.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Member&#146;s interest in his Account shall be distributed, or commence to
be distributed, to the Member no later than the Required Beginning Date.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If the Member dies before distributions of his benefits commence, the
Member&#146;s entire interest in his Account shall be distributed, or shall commence to
be distributed, no later than:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) If the Member&#146;s surviving Spouse is the Member&#146;s sole Designated
Beneficiary, then distributions to the surviving Spouse shall commence by
the later of (x)&nbsp;December&nbsp;31 of the calendar year immediately following the
calendar year in which the Member died, or (y)&nbsp;December&nbsp;31 of the calendar
year in which the Member would have attained age seventy and one-half
(70-<FONT style="font-size: 70%"><SUP>1</SUP></FONT>/<FONT style="font-size: 60%">2</FONT>).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) If the Member&#146;s surviving Spouse is not the Member&#146;s sole
Designated Beneficiary, then distributions to the Designated Beneficiary
shall commence by December&nbsp;31 of the calendar year immediately following the
calendar year in which the Member died.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) If there is no Designated Beneficiary as of September&nbsp;30 of the
calendar year following the calendar year of the Member&#146;s death, the
Member&#146;s entire interest in his Account shall be distributed by December&nbsp;31
of the calendar year containing the fifth (5th) anniversary of the Member&#146;s
death.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) If the Member&#146;s surviving Spouse is the Member&#146;s sole Designated
Beneficiary and the surviving Spouse dies after the Member but before
distributions to the surviving Spouse commence, this Paragraph (b), other
than clause (i)&nbsp;of this Paragraph (b)&nbsp;shall apply as if the surviving Spouse
were the Member.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For purposes of this Paragraph (ii)&nbsp;and Section&nbsp;8.2(d), unless clause (D)&nbsp;of this Paragraph (ii)
applies, distributions shall be considered to commence on the Member&#146;s Required Beginning
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Date. If clause (D)&nbsp;of this Paragraph (ii)&nbsp;applies, distributions shall be considered to commence
on the date distributions are required to commence to the surviving Spouse under clause (i)&nbsp;of this
Paragraph (b). If distributions under an annuity purchased from an insurance company irrevocably
commence to the Member before the Member&#146;s Required Beginning Date (or to the Member&#146;s surviving
Spouse before the date distributions are required to commence to the surviving Spouse under clause
(A)&nbsp;of this Paragraph (ii)), the date distributions are considered to commence shall be the date
distributions actually commence.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Unless the Member&#146;s interest in his Account is distributed in the form of
an annuity purchased from an insurance company or in a single sum on or before the
Required Beginning Date, as of the first Distribution Calendar Year distributions
shall be made in accordance with Sections&nbsp;8.2(c) and 8.2(d) of this Article. If the
Member&#146;s interest in his Account is distributed in the form of an annuity purchased
from an insurance company, distributions thereunder shall be made in accordance with
the requirements of Code Section&nbsp;401(a)(9) and the Treasury Regulations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <U>Required Minimum Distributions During Member&#146;s Lifetime</U>.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) During the Member&#146;s lifetime, the minimum amount that shall be distributed
for each Distribution Calendar Year is the lesser of:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) The quotient obtained by dividing the Member&#146;s Account Balance by
the distribution period in the Uniform Lifetime Table set forth in Treasury
Regulation&nbsp;Section&nbsp;1.401(a)(9)-9, using the Member&#146;s age as of the Member&#146;s
birthday in the Distribution Calendar Year; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) If the Member&#146;s sole Designated Beneficiary for the Distribution
Calendar Year is the Member&#146;s Spouse, the quotient obtained by dividing the
Member&#146;s Account Balance by the number in the Joint and Last Survivor Table
set forth in Treasury Regulation&nbsp;Section&nbsp;1.401(a)(9)-9, using the Member&#146;s
and Spouse&#146;s attained ages as of the Member&#146;s and Spouse&#146;s birthdays in the
Distribution Calendar Year.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Required minimum distributions shall be determined under this Section
8.2(c) beginning with the first Distribution Calendar Year and up to and including
the Distribution Calendar Year that includes the Member&#146;s date of death.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <U>Required Minimum Distributions After Member&#146;s Death</U>.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) If the Member dies on or after the date distributions commence and
there is a Designated Beneficiary, the minimum amount that shall be
distributed for each Distribution Calendar Year after the year of the
Member&#146;s death is the quotient obtained by dividing the Member&#146;s Account
Balance by the longer of the remaining Life Expectancy of the
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">Member or the remaining Life Expectancy of the Member&#146;s Designated
Beneficiary, determined as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">(1)&nbsp;The Member&#146;s remaining Life Expectancy shall be calculated using the age
of the Member in the year of death (reduced by one for each subsequent
calendar year in which such calculation is performed).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">(2)&nbsp;If the Member&#146;s surviving Spouse is the Member&#146;s sole Designated
Beneficiary, the remaining Life Expectancy of the surviving Spouse shall be
calculated for each Distribution Calendar Year after the year of the
Member&#146;s death using the surviving Spouse&#146;s age as of the Spouse&#146;s birthday
in that year. For Distribution Calendar Years after the year of the
surviving Spouse&#146;s death, the remaining Life Expectancy of the surviving
Spouse shall be calculated using the age of the surviving Spouse as of the
Spouse&#146;s birthday in the calendar year of the Spouse&#146;s death (reduced by one
for each subsequent calendar year in which such calculation is performed).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">(3)&nbsp;If the Member&#146;s surviving Spouse is not the Member&#146;s sole Designated
Beneficiary, the Designated Beneficiary&#146;s remaining Life Expectancy shall be
calculated using the age of the Designated Beneficiary in the year following
the year of the Member&#146;s death (reduced by one for each subsequent calendar
year in which such calculation is performed).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">(4)&nbsp;If the Member dies on or after the date distributions commence and there
is no Designated Beneficiary as of September&nbsp;30 of the calendar year
following the calendar year of the Member&#146;s death, the minimum amount that
shall be distributed for each Distribution Calendar Year after the calendar
year of the Member&#146;s death is the quotient obtained by dividing the Member&#146;s
Account Balance by the Member&#146;s remaining Life Expectancy calculated using
the age of the Member in the calendar year of death (reduced by one for each
subsequent calendar year in which such calculation is performed).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) If the Member dies before the date distributions commence and there
is a Designated Beneficiary, the minimum amount that shall be distributed
for each Distribution Calendar Year after the calendar year of the Member&#146;s
death is the quotient obtained by dividing the Member&#146;s Account Balance by
the remaining Life Expectancy of the Member&#146;s Designated Beneficiary,
determined as provided in Paragraph (i)&nbsp;of this Section&nbsp;8.2(d).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) If the Member dies before the date distributions commence and there
is no Designated Beneficiary as of September&nbsp;30 of the calendar
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">year following the calendar year of the Member&#146;s death, distribution of
the Member&#146;s entire interest in his Account shall be completed by December
31 of the calendar year containing the fifth (5th) anniversary of the
Member&#146;s death.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) If the Member dies before the date distributions commence, the
Member&#146;s surviving Spouse is the Member&#146;s sole Designated Beneficiary, and
the surviving Spouse dies before distributions are required to commence to
the surviving Spouse under Section&nbsp;8.2(b)(ii)(A), this Paragraph (ii)&nbsp;shall
be applied as if the surviving Spouse were the Member.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3 <U><B>Limitation on Payments</B></U>. Notwithstanding anything else in this Plan to the
contrary, the payment of benefits with respect to a deceased Member shall be made in accordance
with Code Section&nbsp;401(a)(9) and the regulations thereunder. All benefits payable under the Plan
shall be subject to the following limitations and rules which shall in no event expand the
requirements and limitations on benefit payments set forth elsewhere herein:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;In no event shall the payment of benefits under any form of benefit elected by a Member
extend over a period which exceeds the longest of:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the life of the Member;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the lives of the Member and his Beneficiary, if any;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the life expectancy of the Member; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the joint life expectancies of the Member and his Beneficiary, if any.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Notwithstanding anything else in this Plan to the contrary, the payment of any death
benefit payable to any Beneficiary of a Member shall be subject to the rules and restrictions of
Code Section&nbsp;401(a)(9) and the regulations thereunder (including, without limitation, Proposed
Treasury Regulation&nbsp;Section&nbsp;1.401(a)(9)-2) which restrictions shall not expand the requirements of
Section&nbsp;8.2 hereof with regard to a payment upon death:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) If the Member dies after his required beginning date under Code Section
401(a)(9) and the regulations thereunder or after his benefits have irrevocably
commenced (the &#147;Commencement Date&#148;), such death benefit must be distributed to the
Beneficiary under a method that is at least as rapid as the method under which
distributions were being made to the Member as of the date of the Member&#146;s death;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If the Member dies before his Commencement Date and the Beneficiary is not
a designated Beneficiary within the meaning of Code Section&nbsp;401(a)(9), the entire
interest of the Member must be distributed over a period
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">which does not exceed five (5)&nbsp;years from the December&nbsp;31st of the calendar
year in which such Member&#146;s death occurred;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Except as provided in (iv)&nbsp;below, if a Member&#146;s interest is payable to,
or for the benefit of, a designated Beneficiary (other than such Member&#146;s Spouse),
such portion may be distributed over a period which does not exceed the life, or
life expectancy, of such designated Beneficiary, provided that distribution of such
portion must commence not later than December&nbsp;31st of the calendar year immediately
following the calendar year in which the Member&#146;s death occurred or such later date
as may be permitted under applicable Treasury regulations;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) If the Member dies before his Commencement Date and any portion of such
Member&#146;s interest is payable to, or for the benefit of, such Member&#146;s Spouse as
designated Beneficiary, distribution of such portion must commence no later than the
later of the period specified in (iii)&nbsp;above or the December&nbsp;31st of the calendar
year in which the Member would have attained age seventy and one-half (70-<FONT style="font-size: 70%"><SUP>1</SUP></FONT>/<FONT style="font-size: 60%">2</FONT>);
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) In the event that a Member shall have designated his Spouse as designated
Beneficiary and such Spouse shall die after the death of the Member and before the
commencement of distributions to such Spouse, the Member&#146;s Spouse shall be
substituted for the Member in applying the provisions of this subsection (v), but
only for the purpose of determining the period over which payment of benefits may be
made;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) For purposes of this Section&nbsp;8.3 the life expectancy of a Member and his
Spouse may be recalculated no more frequently than annually; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) For purposes of this Section&nbsp;8.3, and in accordance with applicable
Treasury regulations, any death benefit to a Member&#146;s child shall be treated as if
it had been paid to such Member&#146;s surviving Spouse if such amount will become
payable to such surviving Spouse upon such child&#146;s reaching the age of majority (or
upon the occurrence of such other event as may be designated by applicable Treasury
regulations).
</DIV>


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</DIV>


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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE IX</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>IN-SERVICE WITHDRAWALS AND LOANS</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 <U><B>In-Service Distributions for Hardship</B></U>. (a)&nbsp;In the event of a Participant&#146;s
Hardship (as hereinafter defined), the Participant shall have the right to withdraw, up to the
amount of the Hardship, all or a part of the vested portion of his Account, other than his QNEC
Account (but, with respect to a 401(k) Account and Catch-Up Contribution Account, not in excess of
the actual contributions on his behalf to such Accounts), upon such prior notice to the Committee
as the Committee may require in accordance with its rules and regulations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;For the purposes of this Section&nbsp;9.1, a Participant shall experience a &#147;Hardship&#148; if, and
only if, such Participant experiences an immediate and heavy financial need (as defined in (c)
below) and the withdrawal is necessary to satisfy the financial need of the Participant (as defined
in (d)&nbsp;below).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;A Participant will be deemed to experience an immediate and heavy financial need if, and
only if, he needs the withdrawal for one of the following reasons:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) to pay for expenses for medical care described in Code Section 213(d)
previously incurred by the Participant, the Participant&#146;s Spouse, or any dependents
of the Participant, or necessary for these persons to obtain medical care described
in Code Section&nbsp;213(d);
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) to pay costs directly related to the purchase of a principal residence for
the Participant (excluding mortgage payments);
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) to pay tuition and related educational fees, including room and board
expenses, for the next twelve (12)&nbsp;months of post-secondary education for the
Participant, or the Participant&#146;s Spouse, children or dependents;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) to pay amounts necessary to prevent the eviction of the Participant from
the Participant&#146;s principal residence or foreclosure on the mortgage of that
residence; or
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;such other financial needs as may be specifically promulgated by the
Internal Revenue Service.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;A withdrawal will be deemed necessary to satisfy the financial need of a Participant if,
and only if:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The withdrawal is not in excess of the amount of the immediate and heavy
financial need of the Participant. The amount of an immediate and heavy financial
need may include any amounts necessary to pay any federal, state or local income
taxes or penalties reasonably anticipated to result from the distribution.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The Participant has obtained all distributions, other than Hardship
distributions, and all nontaxable loans currently available under all plans
maintained by the Employer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;In the event the Participant makes a withdrawal pursuant to this Section&nbsp;9.1 that consists
of amounts from a 401(k) Account or Catch-Up Contribution Account, then the Participant shall be
suspended from making 401(k) Contributions, Catch-Up Contributions and After-Tax Contributions,
pre-tax elective or after-tax voluntary contributions to any other qualified or nonqualified plan
maintained by the Employer (which shall be deemed to include all qualified and nonqualified plans
of deferred compensation, other than the mandatory employee contribution portion of a defined
benefit plan, stock option, stock purchase or similar plan, but shall not include health or welfare
benefit plans) for six (6)&nbsp;months following the withdrawal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;All withdrawals shall be on the basis of the Value of the Participant&#146;s Account on the
applicable Valuation Date coinciding with or immediately preceding the date of withdrawal. The
Committee may establish rules and regulations, which do not discriminate in favor of officers,
stockholders and Highly Compensated Employees, as to procedures, forms and required notice periods
for withdrawal requests.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 <U><B>Distribution of Rollover Account</B></U>. A Participant shall, at any time, have the
right to withdraw any or all amounts in his Rollover Account upon such prior notice to the
Committee and in such manner as prescribed by the Committee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 <U><B>Distribution of After-Tax Account</B></U>. A Participant shall, at any time, have the
right to withdraw any or all amounts in his After-Tax Account upon such prior notice to the
Committee and in such manner as prescribed by the Committee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4 <U><B>In-Service Distributions On or After Age 59-<FONT style="font-size: 70%"><SUP>1</SUP></FONT>/<FONT style="font-size: 60%">2</FONT></B></U>. A Participant shall have the right
to receive any portion of the vested portion of his Account as requested by the Participant, on or
after his attainment of age fifty-nine and one-half (59-<FONT style="font-size: 70%"><SUP>1</SUP></FONT>/<FONT style="font-size: 60%">2</FONT>), upon such prior notice to the Committee
and in such manner as prescribed by the Committee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5 <U><B>Loans to Participants</B></U>. (a)&nbsp;Upon application of any Participant employed by the
Employer or any person covered by Paragraph (f)&nbsp;below (a &#147;Borrower&#148;) to the Committee, the
Committee shall direct the Trustee to make a loan or loans to such Borrower from the Loan Available
Account (as defined in Paragraph (g)&nbsp;below) of the Borrower. The minimum amount of any loan shall
be one thousand dollars ($1,000). All such loans shall (i)&nbsp;be adequately secured, (ii)&nbsp;bear
interest at the prevailing commercial rate determined by the Committee based on a review of
prevailing commercial rates in the Employer&#146;s geographical region, (iii)&nbsp;be subject to such charges
as imposed by the Committee in accordance with a uniform nondiscriminatory policy and (iv)&nbsp;be
repaid within a specified period not longer than five (5)&nbsp;years in substantially level amortized
payments by means of payroll deduction, provided that such period may exceed five (5)&nbsp;years (but
may not exceed fifteen (15)&nbsp;years), if the loan is used to acquire any dwelling unit which within a
reasonable time is to be used (determined at the time the loan is made) as the principal residence
of the Participant; and further provided that all loans made to Participants while actively
employed by the Employer shall become immediately due and payable within ninety (90)&nbsp;days following
Termination of Employment unless Paragraph
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(e)&nbsp;of this Section&nbsp;9.5 is applicable. With respect to a Military Leave of Absence, loan
repayments will be suspended under this Plan as permitted under Section&nbsp;414(u)(4) of the Code. Any
loan shall be subject to such additional acceleration provisions as shall be determined by the
Committee to be commercially reasonable at the time that the loan is made. In no event shall the
total of any such loan or loans to any Borrower from the Plan and any other plan qualified under
Section 401(a) of the Code required to be aggregated with this Plan pursuant to Code Section 72(p)
exceed the least of (i)&nbsp;fifty thousand dollars ($50,000), less the excess (if any) of (A)&nbsp;the
highest amount of loans outstanding within the twelve (12)&nbsp;month period ending on the day prior to
the date the loan is made over (B)&nbsp;the outstanding balance of loans outstanding on the date the
loan is made, or (ii)&nbsp;fifty percent (50%) of the vested Account of the Borrower under the Plan.
Only two (2)&nbsp;loans to a Participant may be outstanding at any time but only one loan may be
outstanding that is used to acquire any dwelling unit which within a reasonable time is to be used
(determined at the time the loan is made) as the principal residence of the Borrower (a &#147;Home
Loan&#148;) and only one loan may be outstanding at any time that is not a Home Loan.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;As security for such loan or loans, the Borrower shall pledge the portion of his Loan
Available Account represented by the loan and earnings thereon. Loans to Borrowers shall be repaid
through deductions from Compensation made on a level basis during each applicable Payroll Period
or, during periods of employment during which the Borrower does not receive Compensation at a rate
of Compensation (after income and employment tax withholding) that is equal to or greater than the
total level repayment amount required under the terms of the loan, by check payable to the Plan.
In the event that the Borrower does not repay any loan or the interest thereon within the time
provided in Paragraph (a)&nbsp;above and upon the schedules set forth in the promissory note
representing the loan (or if later, the last day of any grace period established by the Committee
which such grace period shall not extend beyond the last day of the calendar quarter following the
calendar quarter in which an installment payment is due), the Committee shall cause the Trustee to
deduct the total amount of the loan outstanding, and any interest and other charges then due and
owing, from any payment or distribution from the Borrower&#146;s Loan Available Account securing the
loan to which such Borrower may be entitled under the terms of the Plan. If under the terms of the
Plan, payment or distribution is not then permitted, the Borrower will have a deemed distribution
for tax purposes, but the loan will remain outstanding and the Committee shall deduct the total
amount of the loan outstanding, and any interest and other charges then due and owing, from the
portion of the Borrower&#146;s Loan Available Account securing the loan as soon as a distribution or
withdrawal is then permitted at law from such portion of the Loan Available Account (without regard
to limitations in the Plan that are narrower than required by the Code). Any loan hereunder shall
be considered an investment of the Borrower&#146;s Loan Available Account and any loan shall reduce the
investment of the Borrower in each respective Investment Option in the applicable Loan Available
Account, on a proportionate basis. When a loan is repaid, each repayment shall be invested in the
manner and same proportion that the Borrower has elected for his current contributions to his
Account and which is currently in effect pursuant to Article&nbsp;V and shall be credited in the reverse
order of priority as set forth in Paragraph (g)&nbsp;below.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(1) (i)&nbsp;Notwithstanding any other provision to the contrary, except as provided in
clause (ii)&nbsp;of this subparagraph, in the event that a Borrower is granted a leave of
absence without Compensation or at a rate of Compensation (after income and
employment tax withholding) that is less than the total level
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">repayment amount required under the terms of the loan(s), the Borrower may elect to
discontinue repayments on his outstanding loan during his absence without the loan
being deemed in default, provided that such period of nonpayment shall not exceed
the Loan Suspension Period. Following the Borrower&#146;s Loan Suspension Period, the
duration of the loan may, at the election of the Borrower, be extended to a period
equal to the Loan Suspension Period, and during such extended term following the
Loan Suspension Period, payments shall be made at the same rate as in effect at the
commencement of the leave of absence. Notwithstanding the foregoing, the loan must
be repaid by the latest date permitted under the Plan and the loan payments due
after the Loan Suspension Period must not be less than those required under the
terms of the loan prior to the leave of absence.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) In the event that an extension under clause (i)&nbsp;of this Paragraph would
cause the term of a loan to exceed the maximum permitted term under Paragraph (a),
the Borrower shall be provided a revised repayment schedule with respect to the loan
showing the increased amount of level repayment amounts required to be made
following the Loan Suspension Period so that the loan shall be repaid during a
period which shall not extend beyond such maximum permitted duration.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) In the event that either clause (i)&nbsp;or clause (ii)&nbsp;of this Paragraph is
applicable to a loan, the borrowing Borrower shall at the request of the Committee
execute and deliver an amended promissory note, in such form as the Committee shall
provide, reflecting the extended term of the loan or revised payment schedule, or
both, as the case may be.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&#147;Loan Suspension Period&#148; shall mean the period during which a Participant
discontinues payments on a loan pursuant to clause (i)&nbsp;of this Paragraph and
continuing until the earlier of (i)&nbsp;the termination of the Participant&#146;s leave of
absence or (ii)&nbsp;one (1)&nbsp;year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;In the event any loan remains outstanding at the time a distribution (other than an
additional loan) is otherwise scheduled to occur and such distribution would reduce the prescribed
security for, or otherwise violate limitations with regard to the loan, then the amount of the
distribution will be reduced by all or a portion of the outstanding loans to prevent such
reduction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;A loan may be prepaid in full at any time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;Notwithstanding the foregoing, a Borrower who has a loan (or loans) outstanding under an
Historic Plan or another plan qualified under Section 401(a) of the Code which is transferred to
the Plan by trustee-to-trustee transfer or as a result of the merger of another plan qualified
under Section 401(a) of the Code into the Plan shall be entitled to keep such loan (or loans)
outstanding under the Plan until the loan (or loans) is repaid pursuant to the terms of such
outstanding loan (or loans).
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;Any &#147;party in interest&#148; as defined in ERISA Section&nbsp;3(14) who is a Terminated Participant
or Retired Participant with an Account balance under the Plan shall have the right to receive a
loan from the Plan. Owner-employees and shareholder-employees, as defined in Section 401(c) of the
Code are eligible to take loans under the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;Loan Available Account is defined for purposes of this Section&nbsp;9.5 as the vested portion
of the following sub-accounts of a Participant in the following order of priority: the Rollover
Account, the 401(k) Account, the Catch-Up Contribution Account, the After-Tax Account, the vested
portion of the Matching Contribution Account, and then the vested portion of the Profit Sharing
Account.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;No loan shall be made in the event that the interest rate required to be charged pursuant
to (a)(ii) of this Section&nbsp;9.5 would violate any applicable usury law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;The Committee shall administer this Section&nbsp;9.5 pursuant to the foregoing and such
additional rules and regulations as it shall promulgate in accordance with Code Section 72(p) and
any Treasury Regulations thereunder and Department of Labor Regulation&nbsp;Section&nbsp;2550.408b-1.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6 <U><B>Form of In-Service Distributions and Loans</B></U>. Distributions to a Participant
pursuant to this Article&nbsp;IX shall be made in a cash lump sum; provided that, to the extent the
Participant&#146;s Account is invested in Expedia Stock or, prior to December&nbsp;31, 2005, with respect to
a Participant who was a participant in the Prior Plan on the Distribution Date, to the extent the
Participant&#146;s Account is invested in IAC Stock, the Participant may elect to receive such portion
in Expedia Stock (or, prior to December&nbsp;31, 2005, IAC Stock, with respect to a Participant who was
a participant in the Prior Plan on the Distribution Date, to the extent the Participant&#146;s Account
is invested in IAC Stock).
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE X</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>VOTING AND OTHER RIGHTS</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1 <U><B>Voting of Expedia Stock</B></U>. Each Member (or, in the event of the Member&#146;s death,
the Member&#146;s Beneficiary) shall be entitled to instruct the Trustee as to the manner in which the
Expedia Stock held in the Member&#146;s Account shall be voted on each matter brought before an annual
or special stockholders&#146; meeting of the Company. Before each such meeting of stockholders, the
Company shall cause to be furnished to each Member (or, in the event of the Member&#146;s death, the
Member&#146;s Beneficiary) a copy of all proxy solicitation material, together with a form requesting
confidential instructions to be given to the Trustee on how the Expedia Stock attributable to the
Member&#146;s Account shall be voted on each such matter. Upon timely receipt of such instructions, the
Trustee shall on each such matter vote such Expedia Stock as instructed except as otherwise
required by ERISA. The instructions received by the Trustee from Members (or Beneficiaries, as the
case may be) shall be held by the Trustee in confidence and shall not be divulged or released to
any person, including officers or employees of the Company or any Affiliate. Where no such voting
instructions have been received by the Trustee, the Trustee shall vote such Expedia Stock as to
which timely instructions were not received by the Trustee in the same proportion as it votes
shares of Expedia Stock as to which timely instructions were received by the Trustee in accordance
with ERISA.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2 <U><B>Tender and Exchange Offers on Expedia Stock</B></U>. (a)&nbsp;Each Member (or, in the event
of the Member&#146;s death, the Member&#146;s Beneficiary) shall have the right, based upon the Expedia Stock
held in the Member&#146;s Account, to direct the Trustee in writing as to the manner in which to respond
to a tender or exchange offer for such Expedia Stock and the Trustee shall tender or not tender
such Expedia Stock for each Member&#146;s Account based upon such instructions. The Company shall
utilize its best efforts to timely distribute or cause to be distributed to each Member (or
Beneficiary, as the case may be) such identical written information (if any) as will be distributed
to stockholders of the Company in connection with any such tender or exchange offer and a tender or
exchange offer instruction form for return to the Trustee or its designee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The form described in (a)&nbsp;above shall show the number of full shares of Expedia Stock
attributable to the Member&#146;s Account (whether or not vested) and shall provide a means for him to
(i)&nbsp;instruct the Trustee whether or not to tender such shares and (ii)&nbsp;specify the Investment
Option under the Plan in which the proceeds of any sale shall be invested in the event such shares
are sold pursuant to the tender offer. Such form shall also advise each Member with an investment
in Expedia Stock that, in the event the Trustee is not provided with tender or exchange
instructions, the Trustee shall not tender or exchange shares of Expedia Stock as to which timely
instructions were not received by the Trustee. Such form shall further advise that, in the event a
Member&#146;s Expedia Stock is sold and the Member has not specified the Investment Option in which the
proceeds shall be invested, such proceeds shall be invested in a managed income fund, until a
further investment election is made by the Member pursuant to the Plan. Except for the foregoing,
the Company shall not provide to the Member any information or guidance not provided to all
stockholders. Upon receipt of such instructions, the Trustee shall tender or not tender (or
withdraw from tender) or exchange such Expedia Stock in accordance
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">with such instructions, and the Trustee shall not tender or exchange any such shares of
Expedia Stock as to which timely instructions were not received by the Trustee and any shares of
Expedia Stock not credited to Members&#146; Accounts but held by the Plan. Except as may be required by
law, instruction forms received from the Member shall be retained by the Trustee and shall not be
provided to the Company or to any officer or employee thereof or to any other person.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3 <U><B>Procedures of the Company With Respect to Voting and Tender Instructions</B></U>. In
implementing the foregoing procedures, the Company will act fairly, in the best interests of each
Member, and in a manner which will not impose undue pressure on any Member as to what tender or
exchange offer instructions he should give to the Trustee. The giving of an instruction to the
Trustee to tender or exchange Expedia Stock shall not be deemed to constitute withdrawal or
suspension from the Plan or forfeiture of any portion of a Member&#146;s interest in the Plan. Accounts
shall be adjusted appropriately to reflect the Trustee&#146;s execution of their instructions, or if no
instructions were received, no adjustment shall be made to the extent the Trustee does not tender
or exchange any such shares of Expedia Stock as to which timely instructions were not received by
the Trustee. Proceeds resulting from the sale of any Expedia Stock shall be invested in the
Investment Option specified by the Member in his instructions to the Trustee and, in the absence of
such instructions, such proceeds shall be invested in the money market fund, until a further
investment election is made by the Member pursuant to the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4 <U><B>Member Deemed Named Fiduciary</B></U>. Notwithstanding anything in the Plan to the
contrary, each Member is, for purposes of this Section, hereby designated a &#147;named fiduciary&#148;,
within the meaning of Section&nbsp;402(a)(1) of ERISA, with regard to his Account.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5 <U><B>Confidentiality</B></U>. It is intended that the Expedia Stock Option shall be
administered and operated in accordance with Section 404(c) of ERISA and the regulations
thereunder. For such purposes, the Trustee shall be the identified fiduciary and shall be
responsible for, without limitation, the implementation and monitoring of confidentiality
procedures.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE XI</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>PAYMENT OF BENEFITS</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1 <U><B>Payments for Incompetent Persons</B></U>. If the Committee shall find that any person to
whom a benefit is payable under the Plan is unable to care for his affairs because of illness or
accident, any payment due (unless a prior claim therefor shall have been made by a duly appointed
guardian, committee or other legal representative) may be paid to the Spouse, child, grandchild,
parent, brother or sister of such person, or to any person deemed by the Committee to have incurred
expense for such person otherwise entitled to payment. Any such payment shall be a complete
discharge of any liability under the Plan therefor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2 <U><B>Spendthrift</B></U>. No benefit payable at any time under the Plan shall be subject in
any manner to alienation, anticipation, sale, transfer, assignment, pledge, attachment or
encumbrance of any kind. No benefit and no fund established in connection with the Plan shall in
any manner be subject to the debts or liabilities of any person entitled to such benefit. This
Section&nbsp;11.2 shall also apply to the creation, assignment or recognition of a right to any benefit
payable with respect to a Member pursuant to a domestic relations order, unless such order is
determined to be a &#147;qualified domestic relations order,&#148; as defined in Section 414(p) of the Code,
or any domestic relations order entered before January&nbsp;1, 1985. A qualified domestic relations
order may direct that an alternate payee receive a distribution from the Plan prior to the Member&#146;s
&#147;earliest retirement age,&#148; as defined in Code Section&nbsp;414(p)(4)(B). Notwithstanding anything
herein to the contrary, the provisions of this Section&nbsp;11.2 shall not apply to any offset of a
Member&#146;s benefits provided under the Plan against an amount that the Member is ordered or required
to pay to the Plan under any of the circumstances set forth in Section&nbsp;401(a)(13)(C) of the Code
and Sections&nbsp;206(d)(4) and 206(d)(5) of ERISA.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE XII</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>ADMINISTRATION OF THE PLAN</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1 <U><B>Plan Administrator</B></U>. The general administration of the Plan on behalf of the Plan
Administrator shall be placed in a Committee of not less than two (2)&nbsp;members; provided however,
that any action taken by the Committee, if composed of only two (2)&nbsp;members, must be taken
unanimously. The members of the Committee shall be appointed by the Board or a duly appointed
committee thereof and each such member shall serve at the pleasure of such Board.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2 <U><B>Appointment to and Resignation From the Committee</B></U>. Any person appointed to be a
member of the Committee shall signify his acceptance in writing to the Board which appointed him.
Any member of the Committee may resign by delivering his written resignation to the Board which
appointed him. Such resignation shall become effective upon delivery or at any later date
specified therein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3 <U><B>Reimbursement of Expenses of Committee</B></U>. The Plan shall pay or reimburse the
members of the Committee for all reasonable expenses incurred unless the Employer shall pay or
reimburse the members of the Committee for such expenses.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4 <U><B>Action by Majority of the Committee</B></U>. A majority of the members of the Committee
at the time in office may do any act which the Plan authorizes or requires the Committee to do, and
the action of such majority of the members expressed from time to time by a vote at a meeting, or
in writing without a meeting, shall constitute the action of the Committee and shall have the same
effect for all purposes as if assented to by all the members.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.5 <U><B>Internal Structure of Committee</B></U>. The members of the Committee shall elect from
their number a Chairman and shall appoint a Secretary, who need not be a member of the Committee.
The Committee may appoint such subcommittees with such powers as it shall determine and may
authorize one or more members of the Committee or any agent to execute or deliver any instrument or
make any payment in its behalf.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.6 <U><B>Powers of the Committee</B></U>. Subject to the limitations of the Plan, the Committee
may, in its sole and absolute discretion, make such rules and regulations as it deems necessary or
proper for the administration of the Plan and the transaction of business thereunder; may interpret
the Plan; may decide on questions as to the eligibility of any person to receive benefits and the
amount of such benefits; may authorize the payment of benefits in such manner and at such times as
it may determine; may prescribe forms or telephonic or electronic means to be used for making
various elections under the Plan, for designating beneficiaries or for changing or revoking such
designations, for applying for benefits and for any other purposes of the Plan, which prescribed
forms in all cases must be executed and filed with the Committee (unless the Committee shall
otherwise determine) and may take such other action or make such determinations in accordance with
the Plan as it deems appropriate. To the extent that the form or method prescribed by the
Committee to be used in the operation and administration of the Plan does not conflict with the
terms and provisions of the Plan, such form shall be evidence of
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(i)&nbsp;the Committee&#146;s interpretation, construction and administration of this Plan and (ii)
decisions or rules made by the Committee pursuant to the authority granted to the Committee under
the Plan.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.7 <U><B>Investment Policy Responsibility of Committee</B></U>. The members of the Committee
shall together establish and carry out, or cause to be provided by those persons (including,
without limitation, any investment manager, trustee or insurance company) to whom responsibility or
authority therefor has been allocated or delegated in accordance with this the Plan or the Trust
Agreement, an investment policy consistent with the objectives of the Plan and the requirements of
ERISA, including, without limitation, a policy which complies with Section 404(c) of ERISA. For
such purposes, the Committee shall, at a meeting duly called for the purpose, establish an
investment policy which satisfies the requirements of ERISA, and shall meet at least annually at a
stated time of the year to review such investment policy. All actions taken with respect to such
investment policy and the reasons therefor shall be recorded in the minutes of the meetings of the
Committee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.8 <U><B>Actions of the Committee to be Uniform; Regular Personnel Policies to be
Followed</B></U>. Any discretionary actions to be taken under this Plan by the Committee with respect
to the classification of the Employees, contributions, or benefits shall be uniform in their nature
and applicable to all Employees similarly situated. With respect to service with the Employer,
leaves of absence and other similar matters, the Committee shall administer the Plan in accordance
with the Employer&#146;s regular personnel policies at the time in effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.9 <U><B>Decisions of Committee are Binding</B></U>. The decisions of the Committee with respect
to any matter it is empowered to act on shall be made in the Committee&#146;s sole discretion and shall
be final, conclusive and binding on all persons, based on the Plan documents. In carrying out its
functions under the Plan, the Committee shall endeavor to act by general rules so as to administer
the Plan in a uniform and nondiscriminatory manner as to all persons similarly situated.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.10 <U><B>Spouse&#146;s Consent</B></U>. In addition to when such consent is expressly required by the
terms of this Plan, the Committee may in its sole discretion also require the written consent of
the Employee&#146;s Spouse to any other election or revocation of election made under this Plan before
such election or revocation shall be effective.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.11 <U><B>Delegation of Authority</B></U>. The Committee may delegate any and all of its powers
and responsibilities hereunder to other persons by formal resolution filed with and accepted by the
Board of Directors. Any such delegation shall not be effective until it is accepted by the Board
and the persons designated and may be rescinded at any time by written notice from the Committee to
the person to whom the delegation is made.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.12 <U><B>Multiple Fiduciary Capacities</B></U>. Any person or group of persons may serve in more
than one fiduciary capacity with respect to the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.13 <U><B>Retention of Professional Assistance</B></U>. The Committee may employ or retain such
legal counsel, accountants, actuaries, consultants, investment advisors, physicians, agents and
other persons as it may require in carrying out the provisions of the Plan. The
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Committee may appoint an investment manager or managers, as defined in Section&nbsp;3(38) of ERISA,
to manage (including the power to acquire, invest and dispose of) any assets of the Plan. The fees,
charges and costs resulting from such employment or retention of professional assistance shall be
charged as an expense of the Trust Fund unless paid by an Employer, in its sole discretion.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.14 <U><B>Reliance on Various Documents</B></U>. The members of the Committee and the Employer
and its officers, trustees and directors shall be entitled to rely upon all tables, valuations,
certificates and reports furnished by the Plan actuary, upon all certificates and reports made by
any accountant selected by the Committee, and upon all opinions given by any legal counsel selected
by the Committee. The members of the Committee and the Employer and its officers, trustees and
directors shall be fully protected in respect of any action taken or suffered by them in good faith
in reliance upon any such actuary, accountant or counsel, and all action so taken or suffered shall
be conclusive upon all parties.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.15 <U><B>Accounts and Records</B></U>. The Committee shall maintain such accounts and records
regarding the fiscal and other transactions of the Plan and such other data as may be required to
carry out its functions under the Plan and to comply with all applicable laws. The Committee shall
report annually to the Board on the financial condition and administrative operation of the Plan
for the preceding year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.16 <U><B>Compliance with Applicable Law</B></U>. The Company shall be deemed the Plan
Administrator for the purposes of any applicable law and shall be responsible for the preparation
and filing of any required returns, reports, statements or other filings with appropriate
governmental agencies. The Company shall also be responsible for the preparation and delivery of
information to persons entitled to such information under any applicable law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.17 <U><B>Liability</B></U>. The functions of the Committee, the Board, and the Employer under
the Plan are fiduciary in nature and each shall be carried out solely in the interest of the
Members and other persons entitled to benefits under the Plan for the exclusive purpose of
providing the benefits under the Plan (and for the defraying of reasonable expenses of
administering the Plan). The Committee, the Board, and the Employer shall carry out their
respective functions in accordance with the terms of the Plan with the care, skill, prudence and
diligence under the circumstances then prevailing that a prudent person acting in a like capacity
and familiar with such matters would use in the conduct of an enterprise of a like character and
with like aims. No member of the Committee and no officer, director or employee of the Employer
shall be liable for any action or inaction with respect to his functions under the Plan unless such
action or inaction is adjudicated to be a breach of the fiduciary standard of conduct set forth
above. Further, no member of the Committee shall be personally liable merely by virtue of any
instrument executed by him or on his behalf as a member of the Committee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.18 <U><B>Indemnification</B></U>. The Company shall indemnify to the fullest extent permitted by
law and the Company&#146;s Certificate of Incorporation and by-laws, and to the extent not covered by
insurance, its officers and directors (and any employee involved in carrying out the functions of
the Company under the Plan) and each member of the Committee against any expenses, including
amounts paid in settlement of a liability, which are reasonably incurred in connection with any
legal action to which such person is a party by reason of his duties or
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">responsibilities with respect to the Plan except with regard to any matters as to which he
shall be adjudged in such action to be liable for gross negligence or willful misconduct in the
performance of his duty as a fiduciary. Any indemnification by the Employer shall be at the
Employer&#146;s expense and shall not be deemed an expense of the Plan.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.19 <U><B>Section&nbsp;</B><B>16(b)</B><B> of the Securities Exchange Act of 1934, as amended (the &#147;Exchange
Act&#148;)</B></U>. Solely to the extent required under Section 16(b) of the Exchange Act, all elections
and transactions under the Plan by persons subject to Section&nbsp;16 of the Exchange Act involving
shares of Expedia Stock are intended to comply with all exemptive conditions under Rule&nbsp;16b-3
promulgated under the Exchange Act. The Committee may establish and adopt written administrative
guidelines designed to facilitate compliance with Section 16(b) of the Exchange Act, as it may deem
necessary or proper for the administration and operation of the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.20 <U><B>Claims Procedure</B></U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U>Initial Claim</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Any claim by an Employee, Member or Beneficiary (&#147;Claimant&#148;) with respect
to eligibility, participation, contributions, benefits or other aspects of the
operation of the Plan shall be made in writing to the Committee or its designee.
The Committee shall provide the Claimant with the necessary forms and make all
determinations as to the right of any person to a disputed benefit. If a Claimant
is denied benefits under the Plan, the Committee shall notify the Claimant in
writing of the denial of the claim within ninety (90)&nbsp;days after the Committee
receives the claim, provided that in the event of special circumstances such period
may be extended.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) With respect to any claim, the ninety (90)&nbsp;day period may be extended for
a period of up to ninety (90)&nbsp;days (for a total of one hundred eighty (180)&nbsp;days).
If the initial ninety (90)&nbsp;day period is extended, the Committee shall notify the
Claimant in writing within ninety (90)&nbsp;days of receipt of the claim. The written
notice of extension shall indicate the special circumstances requiring the extension
of time and provide the date by which the Committee expects to make a determination
with respect to the claim. If the extension is required due to the Claimant&#146;s
failure to submit information necessary to decide the claim, the period for making
the determination shall be tolled from the date on which the extension notice is
sent to the Claimant until the earlier of (i)&nbsp;the date on which the Claimant
responds to the Committee&#146;s request for information, or (ii)&nbsp;expiration of the
forty-five (45)&nbsp;day period commencing on the date that the Claimant is notified that
the requested additional information must be provided.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) If notice of the denial of a claim is not furnished within the required
time period described herein, the claim shall be deemed denied as of the last day of
such period.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) If a claim is wholly or partially denied, the notice to the Claimant shall
set forth:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) The specific reason or reasons for the denial;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) Specific reference to pertinent Plan provisions upon which the
denial is based;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) A description of any additional material or information necessary
for the Claimant to complete the claim request and an explanation of why
such material or information is necessary;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) Appropriate information as to the steps to be taken and the
applicable time limits if the Claimant wishes to submit the adverse
determination for review; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) A statement of the Claimant&#146;s right to bring a civil action under
Section 502(a) of ERISA following an adverse determination on review.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<U>Claim Denial Review</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) If a claim has been wholly or partially denied, the Claimant may submit the
claim for review by the Committee. Any request for review of a claim must be made
in writing to the Committee no later than sixty (60)&nbsp;days after the Claimant
receives notification of denial or, if no notification was provided, the date the
claim is deemed denied. The Claimant or his duly authorized representative may:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) Upon request and free of charge, be provided with reasonable access
to, and copies of, relevant documents, records, and other information
relevant to the Claimant&#146;s claim; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) Submit written comments, documents, records, and other information
relating to the claim. The review of the claim determination shall take
into account all comments, documents, records, and other information
submitted by the Claimant relating to the claim, without regard to whether
such information was submitted or considered in the initial claim
determination.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The decision of the Committee upon review shall be made within sixty (60)
days after receipt of the Claimant&#146;s request for review, unless special
circumstances (including, without limitation, the need to hold a hearing) require an
extension.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the sixty (60)&nbsp;day period is extended, the Committee shall, within sixty (60)
days of receipt of the claim for review, notify the Claimant in writing. The
written notice of extension shall indicate the special circumstances requiring the
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;extension of time and provide the date by which the Committee expects to make a
determination with respect to the claim upon review. If the extension is required
due to the Claimant&#146;s failure to submit information necessary to decide the claim,
the period for making the determination shall be tolled from the date on which the
extension notice is sent to the Claimant until the earlier of (i)&nbsp;the date on which
the Claimant responds to the Committee&#146;s request for information, or (ii)&nbsp;expiration
of the forty-five (45)&nbsp;day period commencing on the date that the Claimant is
notified that the requested additional information must be provided.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) If notice of the decision upon review is not furnished within the
required time period described herein, the claim on review shall be deemed denied as
of the last day of such period.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) The Committee, in its sole discretion, may hold a hearing regarding the
claim and request that the Claimant attend. If a hearing is held, the Claimant
shall be entitled to be represented by counsel.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) The Committee&#146;s decision upon review on the Claimant&#146;s claim shall be
communicated to the Claimant in writing. If the claim upon review is denied, the
notice to the Claimant shall set forth:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) The specific reason or reasons for the decision, with references to
the specific Plan provisions on which the determination is based;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) A statement that the Claimant is entitled to receive, upon request
and free of charge, reasonable access to, and copies of, all documents,
records and other information relevant to the claim; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) A statement of the Claimant&#146;s right to bring a civil action under
Section 502(a) of ERISA.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;A document, record or other information is considered &#147;relevant&#148; to a claim for this
purpose if it (i)&nbsp;was relied upon in making the benefit determination, (ii)&nbsp;was submitted,
considered, or generated in the course of making the benefit determination, without regard to
whether such document, record or other information was relied upon in making the benefit
determination, or (iii)&nbsp;demonstrates compliance with the administrative process and safeguards
required by law when making the benefit determination.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;All interpretations, determinations and decisions of the Committee with respect to any
claim, including without limitation the appeal of any claim, or any matter relating to the Plan,
shall be made by the Committee, in its sole discretion, based on the Plan and comments, documents,
records, and other information presented to it, and shall be final, conclusive and binding.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;The claims procedures set forth in this section are intended to comply with United States
Department of Labor Regulation &#167; 2560.503-1 and should be construed in accordance with such
regulation. In no event shall it be interpreted as expanding the rights of
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Claimants beyond what is required by United States Department of Labor Regulation &#167;
2560.503-1.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.21 <U><B>Benefits</B></U>. Benefits under the Plan will be paid only if the Plan Administrator
decides in its sole discretion that the applicant is entitled to them.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.22 <U><B>Electronic Administration</B></U>. For purposes of the Plan, any forms, elections,
loans, regulations, rules, notices and disclosure of information may, to the extent permitted by
the Company or the Committee and by applicable law, be made or provided by paper, telephonic or
electronic means.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE XIII</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>FUNDING OF PLAN</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1 <U><B>Media of Funding</B></U>. A Trustee has been appointed to hold the assets of the Trust
Fund. The Plan shall be funded through one or more funds and invested in stocks, securities,
bonds, mortgages, insurance or annuity contracts, real estate or any other legal investment;
provided that all such investments shall be the property of the Trustee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2 <U><B>Trust Fund to be for the Exclusive Benefit of Members</B></U>. The contributions of the
Employer to the Trust Fund shall be for the exclusive benefit of Members, and no part of the assets
of such Trust Fund shall revert to the Employer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.3 <U><B>Interests of Members in Trust Fund</B></U>. No Member shall have any right, title, or
interest in any part of the assets of any Trust Fund except as and to the extent expressly provided
in the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.4 <U><B>Payment Instructions from Committee</B></U>. The Trustee shall make payments from the
Trust Fund upon the receipt of written instructions from the Committee to the person or persons
designated by the Committee as entitled under the terms of the Plan to such payment. Any payment
instructions from the Committee to the Trustee shall warrant that such payment is being made either
to a person entitled to benefits or payments under the Plan or to pay the expenses of the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.5 <U><B>Investment and Control of Trust Fund</B></U>. The investment of the assets comprising
the Trust Fund shall be the responsibility of the Trustee, subject to, and except as otherwise
provided by the terms and provisions of Section&nbsp;6.11 hereof and of the Trust Agreement (including
any provision for appointment of an investment manager, as defined in Section&nbsp;3(38) of ERISA, for
all or any portion of the Trust Fund). The Company shall have no responsibility with respect to
control and management of the Trust Fund except to the extent expressly provided in the Trust
Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.6 <U><B>Limitation of Liability</B></U>. The Trust Fund established under the Plan shall be the
sole source of the payments or distributions to be made in accordance with the Plan. Each Member
and Beneficiary and any other person, who shall claim any right to payment under the Plan, shall be
entitled to look only to the Trust Fund, and shall not have right, claim or demand therefor against
the Employer, the Committee (or any member thereof), the Trustee, or any officer, partner or
director of the Employer.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE XIV</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>AMENDMENT OF THE PLAN</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1 <U><B>Company May Amend Plan</B></U>. Subject to the provisions of this Article&nbsp;XIV, the
Company (on behalf of itself and Member Companies) by action of the Board (or a duly authorized
committee thereof), in accordance with the by-laws of the Company, reserves the right at any time,
and from time to time, to modify and amend any or all of the provisions of the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.2 <U><B>Retroactive Amendments</B></U>. Except as otherwise provided herein, no modification or
amendment may be made which shall have any retroactive effect so as to deprive any Member or other
person of any vested benefits under the Plan. A modification or amendment may retroactively reduce
benefits if expressly permitted by any applicable law or if such modification or amendment is
necessary to bring the Plan into conformity with the requirements of Section 401(a) of the Code or
other applicable provisions of the Code.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.3 <U><B>Amendment Affecting Vesting Provisions</B></U>. No amendment shall reduce the extent to
which a Member would be vested in his retirement income if his employment were to terminate as of
the date of the amendment. No amendment which modifies the method or criteria used to determine to
what extent a Member would be vested in his retirement income if his employment were to terminate
shall become effective with respect to a Participant with at least three (3)&nbsp;Years of Service
unless the Member is permitted to elect to have the extent of his vesting determined without regard
to such amendment. The Committee shall offer the election referred to in the preceding sentence no
later than sixty (60)&nbsp;days after the latest of the adoption of the amendment, the amendment&#146;s
effective date, or the date the Participant is notified of the amendment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.4 <U><B>No Diversion of Fund</B></U>. No modification or amendment of the Plan shall cause or
permit any part of the assets comprising the Fund to be diverted to purposes other than for the
exclusive benefit of Members and others entitled to benefits under the Plan or for the payment of
expenses of the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.5 <U><B>Reversion to Employer</B></U>. No modification or amendment shall cause or permit any
part of the assets comprising the Fund to revert to or become the property of the Employer prior to
the satisfaction of all liabilities under the Plan to Members and others entitled to benefits
hereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.6 <U><B>Mergers, Consolidations and Transfers</B></U>. The Plan shall not be merged or
consolidated, in whole or in part, with any other plan, nor shall any assets or liabilities of the
Plan be transferred to any other plan unless the benefit that would be payable to any affected
Member under such plan if it terminated immediately after the merger, consolidation or transfer, is
equal to or greater than the benefit that would be payable to the affected Member under this Plan
if it had terminated immediately before the merger, consolidation or transfer.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE XV</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>TERMINATION OF THE PLAN</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.1 <U><B>Right to Terminate</B></U>. The Company (on behalf of itself and Member Companies) by
action of its Board (or a duly authorized committee thereof), on behalf of the Company and the
Employer, shall have the right in accordance with the by-laws of the Company, anything herein to
the contrary notwithstanding, to terminate, or completely discontinue contributions under, the Plan
at any time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.2 <U><B>Termination of Plan</B></U>. In the event that the Plan is terminated for any reason, or
contributions are completely discontinued, the rights of all Members to benefits accrued under the
Plan as of the date of such termination, to the extent then funded, shall be nonforfeitable; and
the assets of the Plan shall be allocated by the Committee. After providing for the expenses of
the Plan, the assets remaining in the Trust shall in the discretion of the Committee be either
continued in the Trust until paid out in accordance with the provisions of the Plan or distributed
to the Members and Beneficiaries (unless the Plan is continued by a successor to the Employer).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.3 <U><B>Partial Termination</B></U>. The Plan may be partially terminated by the Employer, or by
operation of law, with respect to a group of Members without causing the termination of the Plan as
a whole. In the event of such a partial termination, the Accounts of the Members involved in the
partial termination shall, to the extent then funded, be fully vested and nonforfeitable.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE XVI</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>PROVISIONS RELATING TO TOP-HEAVY PLAN</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.1 <U><B>Applicability</B></U>. The provisions of this Article&nbsp;XVI shall apply to any Plan Year
if, as of the applicable Determination Date, the Plan constitutes a Top-Heavy Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2 <U><B>Definitions</B></U>. The definitions apply to this Article&nbsp;XVI and unless otherwise
specifically stated in another section hereof do not apply to any other section of this Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U>Determination Date</U>. With respect to each Plan Year, the Determination Date shall
be the final day of the immediately preceding Plan Year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<U>Key Employee</U>. &#147;Key Employee&#148; shall mean:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) any Employee or former Employee (including any deceased employee)
who at any time during the Plan Year that includes the Determination Date
was an officer of the Employer or an Affiliate having annual compensation
greater than one hundred thirty thousand dollars ($130,000) (as adjusted
under Section&nbsp;416(i)(1) of the Code), provided that no more than fifty (50)
employees (or, if lesser, the greater of three (3)&nbsp;or ten (10)&nbsp;percent of
the employees) shall be treated as officers;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) an Employee who owns (or is considered as owning within the meaning
of Section&nbsp;318 of the Code) more than five percent (5%) of the outstanding
stock of the Employer or stock possessing more than five percent (5%) of the
total combined voting power of all stock of the Employer; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) an Employee who (i)&nbsp;owns (or is considered as owning within the
meaning of Section&nbsp;318 of the Code) more than one percent (1%) of the
outstanding stock of the Employer or more than one percent (1%) of the total
combined voting power of all stock of the Employer and (ii)&nbsp;who receives
annual compensation from the Employer or any Affiliate in excess of one
hundred fifty thousand dollars ($150,000).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For purposes of this Paragraph (b), annual compensation means compensation
within the meaning of Section&nbsp;415(c)(3) of the Code. The determination of
who is a Key Employee will be made in accordance with Section&nbsp;416(i)(1) of
the Code and the applicable regulations and other guidance of general
applicability issued thereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;<U>Aggregated Plans</U>. &#147;Aggregated Plans&#148; shall mean all plans of the Employer or any
Affiliate (i)&nbsp;that are qualified under Code Section 401(a) and (b)&nbsp;in which a Key Employee is a
participant, and (ii)&nbsp;all other plans of the Employer or any Affiliate that
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">enable any plan described in clause (i)&nbsp;above to meet the requirements of Code Section
401(a)(4) or 410 (the &#147;Required Aggregation Group&#148;). The Required Aggregation Group shall include
each plan which satisfies the requirements of the preceding sentence, whether or not any such plan
is terminated. In addition, the term &#147;Aggregated Plans&#148; shall include any plan of the Employer or
any Affiliate which is not required to be included in the Required Aggregation Group, provided that
the resulting group, taken as a whole, continues to meet the requirements of Code Sections
401(a)(4) and 410 (the &#147;Permissive Aggregation Group&#148;). The Committee may elect to exclude as an
Aggregated Plan any plan in the Permissive Aggregation Group that is a collectively bargained plan,
if the necessary information as to participants and benefits with respect to such plan is not
available.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;<U>Top-Heavy Plan</U>. The Plan shall constitute a &#147;Top-Heavy Plan&#148; for any Plan Year
if, as of the applicable Determination Date, the sum of (a)&nbsp;the accounts of Key Employees under any
Aggregated Plan that is of a defined contribution type and (b)&nbsp;the present value of the cumulative
accrued benefits of Key Employees under any Aggregated Plan that is of a defined benefit type
exceeds sixty percent (60%) of the sum of (a)&nbsp;the accounts of all Employees under any Aggregated
Plan that is of a defined contribution type and (b)&nbsp;the present value of the cumulative accrued
benefits of all Employees under any Aggregated Plan that is of a defined benefit type. The above
determinations shall be made in accordance with Code Section&nbsp;416(g). Notwithstanding the foregoing
provisions of this Paragraph (d), &#147;Top-Heavy Plan&#148; shall not include a plan that consists solely of
a cash or deferred arrangement which meets the requirements of Section&nbsp;401(k)(12) of the Code and
matching contributions with respect to which the requirements of Section&nbsp;401(m)(11) of the Code are
met. If, but for the preceding sentence, a plan would be treated as a Top-Heavy Plan because it is
a member of an Aggregated Plan, of Top-Heavy Plans, contributions under the Plan may be taken into
account in determining whether any other plan meets the requirements of Section&nbsp;16.3.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;<U>Super Top-Heavy Plan</U>. The Plan shall constitute a &#147;Super Top-Heavy Plan&#148; for any
Plan Year if, as of the Applicable Determination Date, the sum of (a)&nbsp;the accounts of Key Employees
under any Aggregated Plan that is of a defined contribution type and (b)&nbsp;the present value of the
cumulative accrued benefits of Key Employees under any Aggregated Plan that is of a defined benefit
type exceeds ninety percent (90%) of the sum of (a)&nbsp;the accounts of all Employees under any
Aggregated Plan that is of a defined contribution type and (b)&nbsp;the present value of the cumulative
accrued benefits of all Employees under any Aggregated Plan that is of a defined benefit type. The
above determinations shall be made in accordance with Code Sections 416(g) and 416(h)(2)(B).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;<U>Rules for Determining Accrued Benefits and Accounts</U>. In determining the present
value of accrued benefits for Aggregated Plans of the defined benefit variety and accounts for
Aggregated Plans of the defined contribution variety, the following rules shall prevail:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The accrued benefit for each current Employee shall be computed as if the
Employee voluntarily terminated service as of the Determination Date.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The interest rate to be used shall be the interest rate in the defined
benefit plan maintained by the Company, if any, and post-retirement mortality
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall be determined based on the mortality table used by such defined benefit
plan for post-retirement mortality assumptions. There shall be no assumption as to
pre-retirement mortality or future increases in cost of living.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) If a qualified joint and survivor annuity within the meaning of Code
Section&nbsp;401(a)(11) is the normal form of benefit, for purposes of determining the
present value of the accrued benefit, the Spouse of the Member shall be assumed to
be the same age as the Member.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) The present value shall reflect a benefit payable commencing at Normal
Retirement Age (or attained age, if later), provided that if the Plan provides for a
nonproportional subsidy, the benefit shall be assumed to commence at the age at
which the benefit is most valuable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) The Matching Contribution Account, Profit Sharing Contribution Account and
QNEC Account shall be determined as of the most recent valuation occurring within
the twelve (12)&nbsp;month period ending on the Determination Date.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) An adjustment shall be made for any contributions due as of the
Determination Date. Such adjustment shall be the amount of any contributions
actually made after the Valuation Date but before the Determination Date, except
that for the first Plan Year such adjustment shall also reflect the amount of any
contributions made after the Determination Date that are allocated as of a date in
the first Plan Year.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">The accrued benefit or account balance with respect to any Employee shall be
increased by the aggregate distributions made to such Employee from any
Aggregated Plan during the one (1)&nbsp;year period ending on the Determination
Date including distributions under a terminated plan which, had it not been
terminated, would have been aggregated with the plan under Section
416(g)(2)(A)(i) of the Code; provided, however, that:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">(1)&nbsp;Any distribution made after a Valuation Date but prior to the
Determination Date shall not be counted as a distribution to the extent
already included as of the Valuation Date; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">(2)&nbsp;In the case of a distribution made for a reason other than separation
from service, death, or disability, this provision shall be applied by
substituting five (5)&nbsp;year period for one (1)&nbsp;year period.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">Notwithstanding the previous sentence, the accrued benefits and accounts of
any individual who has not performed services for the Employer during the
one (1)&nbsp;year period ending on the Determination Date shall not be taken into
account.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) Any Employee contributions, whether voluntary or mandatory, shall be
included. However, amounts attributable to tax deductible qualified employee
contributions shall not be considered to be a part of the account.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) With respect to unrelated rollovers and plan-to-plan transfers (ones
which are both initiated by the Employee and made from a plan maintained by one
employer to a plan maintained by another employer), if this Plan provides for
rollovers or plan-to-plan transfers, it shall always consider such rollovers or
plan-to-plan transfers as a distribution for the purpose of this Article&nbsp;XVI. If
this Plan is the plan accepting such rollovers or plan-to-plan transfers, it shall
not consider such rollovers or plan-to-plan transfers as part of the account.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) With respect to related rollovers and plan-to-plan transfers (ones either
not initiated by the Employee or made to a plan maintained by the same employer), if
this Plan provides the rollover or plan-to-plan transfer, it shall not be counted as
a distribution for purposes of this Article&nbsp;XVI. If this Plan is the plan accepting
such rollover or plan-to-plan transfer, it shall consider such rollover or
plan-to-plan transfer as part of the Employee&#146;s account, irrespective of the date on
which such rollover or plan-to-plan transfer is accepted.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) For purposes of determining whether the employer is the same employer under
(i)&nbsp;and (j)&nbsp;an Employer and all Affiliates shall be treated as the same employer.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) For purposes of this Article&nbsp;XVI, a Beneficiary of any deceased Employee
shall be considered a Participant hereunder.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii) Notwithstanding anything herein to the contrary, no individual shall be
counted as an Employee or Participant for purposes of this Article&nbsp;XVI if such
individual has not performed services for the Employer or an Affiliate at any time
during the five (5)&nbsp;year period ending on the Determination Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;<U>Top-Heavy Plan Year</U>. &#147;Top-Heavy Plan Year&#148; shall mean a Plan Year in which a
one-year Period of Service is accrued by the Top-Heavy Participant provided that no Plan Year shall
be classified as a Top-Heavy Plan Year if in such Plan Year the Plan was not a Top-Heavy Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;<U>Top-Heavy Participant</U>. &#147;Top-Heavy Participant&#148; shall mean each Participant and
any Employee who is excluded from being a Participant (or who accrued no benefit) because his
compensation was less than a stated amount or any Employee who is excluded from being a Participant
because of a failure to make mandatory employee contributions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;<U>Testing Period</U>. &#147;Testing Period&#148; shall mean, with respect to a Top-Heavy
Participant, the five (5)&nbsp;consecutive Top-Heavy Plan Years of employment of such Top-Heavy
Participant by the Employer or any Affiliate during which the aggregate Top-Heavy Compensation paid
by the Employer or any Affiliate to such Top-Heavy Participant was the highest, or if the Plan was
a Top-Heavy Plan for less than five (5)&nbsp;Top-Heavy Plan Years, the number of Top-Heavy Plan Years.
Exclusion of a Plan Year as a Top-Heavy Plan Year because a one year Period of Service was not
accrued or because of Paragraph (h)&nbsp;above shall not be deemed to break the consecutiveness of the
surrounding Top-Heavy Plan Years.
</DIV>

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</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;<U>Top-Heavy Compensation</U>. &#147;Top-Heavy Compensation&#148; shall mean compensation as
defined in Treasury Regulation&nbsp;Section&nbsp;1.415-2(d).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.3 <U><B>Minimum Contribution</B></U>. (a)&nbsp;Subject to Paragraphs (c)&nbsp;and (d)&nbsp;below, for each
Plan Year during which the Plan constitutes a Top-Heavy Plan, any Employer contributions made under
the Plan shall be allocated to assure that each Top-Heavy Participant, other than a Key Employee,
who is employed on the last day of the Plan Year (and without regard to whether such Participant
was credited with a one year Period of Service for such Plan Year) is credited with a benefit for
such Plan Year under the Plan and any other defined contribution plan of the Employer no less than
the lesser of (i)&nbsp;three percent (3%) of such Top-Heavy Participant&#146;s Top-Heavy Compensation for
such Plan Year, or (ii)&nbsp;if the greatest percentage of Top-Heavy Compensation contributed by the
Employer on behalf of a Key Employee during such Plan Year is less than three percent (3%), the
greatest percentage of such Top-Heavy Participant&#146;s Top-Heavy Compensation contributed for a Key
Employee. In determining the benefit credited to any Participant during any Plan Year, all
Employer contributions made hereof shall be included.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The minimum contribution referred to in (a)&nbsp;above (except with regard to Key Employees)
shall not include any Employee contributions, nor amounts treated as Employer contributions
pursuant to a salary reduction arrangement permitted by Code Section&nbsp;401(k), except for purposes of
determining the greatest percentage of Top-Heavy Compensation allocated on behalf of Key Employees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;If the Top-Heavy Participant (other than a Key Employee) is also a participant in a
qualified defined benefit plan or any other defined contribution plan of the Employer, the
additional contribution due under (a)&nbsp;above shall be reduced by the actuarial equivalent of the
benefits derived by the Top-Heavy Participant under such defined benefit plan calculated on the
basis of the actuarial assumptions of the Plan, or by the amount of the contributions under the
defined contribution plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;If the Top-Heavy Participant (other than a Key Employee) is also a participant in a
qualified defined benefit plan or any other defined contribution plan that constitutes a Top-Heavy
Plan, no minimum contribution under this Section&nbsp;16.3 shall be required, unless otherwise required
by Treasury Regulation&nbsp;Section&nbsp;1.416-1.
</DIV>

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</DIV>

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE XVII</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>MISCELLANEOUS</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.1 <U><B>Rights of Employees</B></U>. Nothing herein contained shall be deemed to give any
Employee the right to be retained in the service of the Employer or to interfere with the right of
the Employer to discharge such Employee at any time, nor shall it be deemed to give the Employer
the right to require the Employee to remain in its service, nor shall it interfere with the
Employee&#146;s right to terminate his service at any time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.2 <U><B>Deductibility</B></U>. All contributions under the Plan are expressly conditioned upon
the deductibility of such contributions under Section&nbsp;404 of the Code and to the extent the
deduction is disallowed, shall be returned to the Employer within one year after the disallowance
of the deduction. A contribution which is not deductible in the current taxable year of the
Employer but may be deducted in the taxable years of the Employer subsequent to the year in respect
of which it is made, shall not be considered to be disallowed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.3 <U><B>Mistake in Fact</B></U>. In the case of a contribution which is made by the Employer
under mistake of fact, such contribution may be returned to the Employer within one year after the
payment of the contribution.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.4 <U><B>Plan Qualification</B></U>. Contributions to the Plan are conditioned on the initial
qualification of the Plan under Section 401(a) and 401(k) of the Code, and if the Plan is found not
to so qualify, contributions made in respect of any period subsequent to the effective date of the
disqualification shall be returned to the contributor within one (1)&nbsp;year after the denial of such
qualification.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.5 <U><B>Provisions Inconsistent With Qualified Status</B></U>. This Plan is intended to be a
qualified plan under the Code. Any provision of this Plan that would cause the Plan to fail to
comply with the requirements for qualified plans under the Code shall, to the extent necessary to
maintain the qualified status of the Plan, be null and void ab initio, and of no force and effect,
and the Plan shall be construed as if the provision had never been inserted in the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.6 <U><B>Headings</B></U>. The headings of the Plan are inserted for convenience of reference
only and shall have no effect upon the meaning of the provisions hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.7 <U><B>Use of Words</B></U>. Whenever used in this instrument, a masculine pronoun shall be
deemed to include the masculine and feminine gender, and a singular word shall be deemed to include
the singular and plural, in all cases where the context so requires.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.8 <U><B>Applicability of State Law</B></U>. If any determination is to be made with respect to
the Plan under applicable state law, the laws of the State of Washington shall apply.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.9 <U><B>Adjustments for Changes in Capital Structure</B></U>. The existence of this Plan shall
not affect in any way the right or power of the Board or the stockholders of the Company to make or
authorize any adjustment, recapitalization, reorganization or other change in the Company&#146;s capital
structure or its business, any merger, consolidation or separation,
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">including a spin-off, or other distribution of stock or property of the Company or Affiliates,
any issue of bonds, debentures, preferred or prior preference stock ahead of or affecting Expedia
Stock, the authorization or issuance of additional shares of Common Stock, the dissolution or
liquidation of the Company or Affiliates, any sale or transfer of all or part of its assets or
business or any other corporate act or proceeding. In the event of any change in the capital
structure or business of the Company by reason of any stock dividend or extraordinary dividend,
stock split or reverse stock split, recapitalization, reorganization, merger, consolidation,
spin-off or exchange of shares, distribution with respect to its outstanding Expedia Stock or
capital stock other than Expedia Stock, reclassification of its capital stock, any sale or transfer
of all or part of the Company&#146;s assets or business, or any similar change affecting the Company&#146;s
capital structure or business and the Committee determines an adjustment is appropriate under this
Plan, then the aggregate number and kind of shares which thereafter may be issued under this Plan,
the number and kind of shares or other property (including cash) held under this Plan shall be
appropriately adjusted consistent with such change in such manner as the Committee may deem
equitable to prevent substantial dilution or enlargement of the rights granted to, or available
for, Members under this Plan or as otherwise necessary to reflect the change, and any such
adjustment determined by the Committee in good faith shall be binding and conclusive on the Company
and all Members, Beneficiaries and employees and their respective heirs, executors, administrators,
successors and assigns.
</DIV>


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</DIV>

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE XVIII</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>ADOPTION OF PLAN BY AFFILIATE</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.1 <U><B>Purpose of Article</B></U>. The purpose of this Article is to describe the terms and
conditions under which an Affiliate or Eligible Company may adopt and become an Adopting Employer
under the Plan and Trust for the benefit of its Eligible Employees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.2 <U><B>Execution of Adoption Agreement by an Affiliate</B></U>. Any Affiliate or Eligible
Company may, subject to consent of the Company, become an Adopting Employer under the Plan and
Trust.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Adopting Employer shall be bound by all the provisions of the Plan and Trust in the
manner set forth herein and any amendments thereto.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Adopting Employer shall pay its share of the contributions to and expenses of, the
Plan and Trust as the Company may determine from time to time in the manner specified herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The Adopting Employer shall provide the Company, the Committee and Trustee with full,
complete, and timely information on all matters necessary to them relating to or in connection with
the administration or operation of the Plan and Trust.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.3 <U><B>Participation in the Plan</B></U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;In the event of the adoption of the Plan and Trust by an Affiliate or an Eligible Company,
the Affiliate or Eligible Company shall become an Adopting Employer and all the terms and
conditions of the Plan and Trust as set forth hereunder shall apply to the participation under the
Plan of such Affiliate or Eligible Company and its Employees in the manner as set forth herein for
an Adopting Employer and its Employees; notwithstanding the above, the following rights are
specifically reserved to the Company:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The right to designate an Adopting Employer as set forth herein;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The right to appoint the members of the Committee, as set forth herein, is specifically
reserved to the Company so long as the Company participates under the Plan; provided that an
Adopting Employer may appoint an Advisory Committee of such composition and size as it may
determine to advise the Committee on any matters affecting such Adopting Employer or its Employees
who are Participants under the Plan. The Committee shall be entitled to rely upon any information
furnished it by the Adopting Employer or its Employees who are Participants under the Plan. The
Committee shall be entitled to rely upon any information furnished it by the Adopting Employer
appointing such Advisory Committee, but in no event shall the existence of such Advisory Committee
modify or otherwise limit any of the powers or duties of the Committee under the Plan;
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The right to direct, appoint, remove, approve the accounts of, or otherwise deal with the
Trustee, as set forth herein, is specifically reserved to the Company so long as the Company
participates under the Plan;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) The right to amend the Plan and Trust, as set forth herein, is specifically reserved to
the Company so long as the Company participates under the Plan; and any such amendment, unless
otherwise specified herein, shall be fully binding with respect to such participation by any
Adopting Employer; provided that this reservation shall in no event be construed to prevent any
Adopting Employer from terminating at any time, in the manner set forth herein, its participation
as an Adopting Employer under the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;In the operation of the Plan with respect to an Adopting Employer, the term &#147;Effective
Date&#148; shall mean such date specified in such Adopting Employer&#146;s Adoption Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Unless otherwise provided in the adoption agreement of an Adopting Employer, service for
an Employee of such Adopting Employer for eligibility, vesting and benefit purposes shall be
determined from the Employee&#146;s Employment Commencement Date with the Employer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;<U><B>Termination by an Adopting Employer</B></U>. Any Adopting Employer, in accordance with
its by-laws (or similar governing documents) and applicable law, may at any time elect to terminate
its participation under the Plan in the manner set forth herein, or any Adopting Employer may elect
at any time by executing a transfer agreement affecting only its own status hereunder to
disassociate itself from this Plan and Trust but to continue the Plan and the portion of the Trust
as it pertains to itself and its Employees as an entity separate and distinct from this Plan and
Trust. Termination of the participation of any Adopting Employer, or disassociation, shall not
affect the participation in the Plan of any other Adopting Employer nor terminate the Plan or Trust
with respect to them and their Employees; provided that, if the Company shall terminate its
participation in the Plan, or disassociate itself, then each remaining Adopting Employer shall make
such arrangements and take such action as may be necessary to assume the duties of the Company in
providing for the operation and continued administration of the Plan and Trust as the same pertains
to the Adopting Employer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.4 <U><B>Adopting Employer Plan Expenses</B></U>. Each Adopting Employer shall be liable for and
shall pay at least annually to the Company its fair share of the expenses of operating the Plan and
Trust, including its share of any Trustee&#146;s fees. The amount of such charges to each Adopting
Employer shall be determined by the Company, in its sole discretion, or pursuant to an agreement
between the Company and the Adopting Employer.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>IN WITNESS WHEREOF</B>, the Company has caused this instrument to be executed by its officer
thereunto duly authorized, as the <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> day of <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> 2005.
</DIV>
<P><DIV style="position: relative; float: left; width: 48%">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;
</DIV>

</DIV>
<DIV style="position: relative; float: right; width: 48%">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>EXPEDIA, INC.</B>
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">By:</TD>
    <TD>&nbsp;</TD>
    <TD><BR><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Title:</TD>
    <TD>&nbsp;</TD>
    <TD><BR><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>
</TABLE>
</DIV>
</DIV>
<BR clear="all"><BR>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT A<BR>
ADOPTING EMPLOYERS</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Expedia, Inc. (WA), Hotels.com (DE), Hotwire, Inc. (DE)&nbsp;and TripAdvisor, Inc. (DE)&nbsp;and
each of their Affiliates on the Effective Date except Expedia, Inc., a Delaware
Corporation, and Premier Getaways, Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding the foregoing, effective January&nbsp;1, 2006, Premier Getaways, Inc. shall
become a Member Company.</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->A-1<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT B</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>SPECIAL VESTING PROVISIONS</B>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Notwithstanding Section&nbsp;5.1(b) of the Plan, but subject to Section&nbsp;5.1(c) of the Plan, this
Exhibit&nbsp;B applies to Transferred Participants who were participants in an Historic Plan
as set forth below and who became Members in the Plan or Prior Plan pursuant to the merger of such
Historic Plan into the Plan or Prior Plan.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>1.1 </B><U>TripAdvisor, Inc. 401(k) Profit Sharing Plan &#038; Trust</U>. With respect to each
Transferred Participant who was a Participant in the TripAdvisor, Inc. 401(k) Profit Sharing Plan &#038;
Trust on September&nbsp;31, 2004 and who is credited with an Hour of Service on or after October&nbsp;1,
2004, the portion of such Transferred Participant&#146;s Accrued Benefit in his Matching Contribution
Account and Profit Sharing Account which shall become vested and nonforfeitable shall be based on
the number of years in his Period of Service according to the following schedule:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="48%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD valign="top" align="center"><DIV style="margin-left:0px; text-indent:-0px">Number of Years<BR>in Period of Service</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Nonforfeitable Percentage</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="center"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;1&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;25%&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="center"><DIV style="margin-left:0px; text-indent:-0px">2&nbsp;or more</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;100%&nbsp;</TD>
</TR>
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</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->B-1<!-- /Folio -->
</DIV>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.D.23
<SEQUENCE>14
<FILENAME>y27824exv99wdw23.htm
<DESCRIPTION>EX-99.D.23: TRUST AGREEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.D.23</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit (d)(23)</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>TRUST AGREEMENT</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Between</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>_____________________</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXPEDIA, INC.</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>And</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>FIDELITY MANAGEMENT TRUST COMPANY</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>_____________________</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXPEDIA RETIREMENT SAVINGS PLAN</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>TRUST</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Dated as of August&nbsp;15, 2005</B>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>TABLE OF CONTENTS</B></U>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Section&nbsp;1. Definitions.</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B><I>5</I></B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Section&nbsp;2. Trust.</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B><I>11</I></B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Section&nbsp;3. Exclusive Benefit and Reversion of Sponsor Contributions.</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B><I>11</I></B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Section&nbsp;4. Disbursements.</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B><I>12</I></B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Section&nbsp;5. Investment of Trust.</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B><I>12</I></B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(a)&nbsp;Selection of Investment Options.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>12</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(b)&nbsp;Available Investment Options.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>12</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(c)&nbsp;Participant Direction.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>13</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(d)&nbsp;Mutual Funds.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>13</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">(i)&nbsp;Execution of Purchases and Sales.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">(ii)&nbsp;Voting.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(e)&nbsp;Sponsor Stock.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>15</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">(i)&nbsp;Acquisition Limit.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">(ii)&nbsp;Fiduciary Duty.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">(iii)&nbsp;Purchases and Sales of Sponsor Stock for Batch Activity.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">(iv)&nbsp;Purchases and Sales of Sponsor Stock for Participant-Initiated Exchanges (&#147;Real Time&#148; Trading)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">(v)&nbsp;Use of an Affiliated Broker.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">(vi)&nbsp;Securities Law Reports.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">(vii)&nbsp;Voting and Tender Offers.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">(viii)&nbsp;General.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">(ix)&nbsp;Conversion.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">(x)&nbsp;Nasdaq Subscriber Agreement.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(f)&nbsp;IACCorp Stock.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>21</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">(x)&nbsp;Acquisition Limit.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">(xi)&nbsp;Fiduciary Duty.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">(xii)&nbsp;Sales of IAC Stock for Batch Activity.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">(xiii)&nbsp;Sales of IAC Stock for Participant-Initiated Exchanges (&#147;Real Time&#148; Trading)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">(xv)&nbsp;Use of an Affiliated Broker.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">(xiv)&nbsp;Securities Law Reports.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">(xv)&nbsp;Voting and Tender Offers.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">(xvi)&nbsp;General.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">(xvii)&nbsp;Conversion.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">(xviii)&nbsp;Nasdaq Subscriber Agreement.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(g)&nbsp;Participant Loans.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>26</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(h)&nbsp;BrokerageLink.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>27</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV style="margin-left:30px; text-indent:-15px"><B>(i)&nbsp;Fidelity
Retirement Plan Manager<sup>&#174;</sup>.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>29</B></TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(j)&nbsp;Collective Investment Funds Managed by the Trustee.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>31</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(k)&nbsp;Trustee Powers.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>31</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Section&nbsp;6. Recordkeeping and Administrative Services to Be Performed.</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B><I>32</I></B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(a)&nbsp;General.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>32</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(b)&nbsp;Accounts.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>33</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(c)&nbsp;Inspection and Audit.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>33</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(d)&nbsp;Notice of Plan Amendment.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>33</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(e)&nbsp;Returns, Reports and Information.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>34</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Section&nbsp;7. Compensation and Expenses.</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>34</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Section&nbsp;8. Directions and Indemnification.</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>35</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(a)&nbsp;Identity of Administrator and Named Fiduciary.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>35</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(b)&nbsp;Directions from Administrator.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>35</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(c)&nbsp;Directions from Committee.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>35</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(d)&nbsp;Co-Fiduciary Liability.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>36</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(e)&nbsp;Indemnification.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>36</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(f)&nbsp;Survival.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>37</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Section&nbsp;9. Resignation or Removal of Trustee and Termination.</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>37</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(a)&nbsp;Resignation and Removal.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>37</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(b)&nbsp;Termination.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>38</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(c)&nbsp;Notice Period.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>38</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(d)&nbsp;Transition Assistance.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>38</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(e)&nbsp;Failure to Appoint Successor.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>38</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Section&nbsp;10. Successor Trustee.</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>39</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(a)&nbsp;Appointment.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>39</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(b)&nbsp;Acceptance.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>39</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(c)&nbsp;Corporate Action.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>39</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Section&nbsp;11. Resignation, Removal, and Termination Notices.</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>39</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Section&nbsp;12. Duration.</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>40</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Section&nbsp;13. Amendment or Modification.</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>40</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Section&nbsp;14. Electronic Services.</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>40</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Section&nbsp;15. Assignment.</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>42</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Section&nbsp;16. Force Majeure.</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>42</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Section&nbsp;17. Confidentiality.</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>42</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Section&nbsp;18. General.</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>43</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(a)&nbsp;Performance by Trustee, its Agents or Affiliates.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>43</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(b)&nbsp;Entire Agreement.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>43</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(c)&nbsp;Waiver.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>43</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(d)&nbsp;Successors and Assigns.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>43</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(e)&nbsp;Partial Invalidity.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>43</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(f)&nbsp;Section&nbsp;Headings.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>44</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(g)&nbsp;Communications.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>44</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(h)&nbsp;Auto-Debit.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>45</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Section&nbsp;19. Data Protection.</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>45</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Section&nbsp;20. Governing Law.</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>46</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(a)&nbsp;Massachusetts Law Controls.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>46</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>(b)&nbsp;Trust Agreement Controls.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>46</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Section&nbsp;22. Plan Qualification.</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>46</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>SCHEDULES</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>48</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Schedule &#147;A&#148; &#151; <I>Administrative Services</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">48</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Schedule &#147;B&#148; &#151; <I>Fee Schedule</I>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">52</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Schedule &#147;C&#148; &#151; <I>Investment Options</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">56</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Schedule &#147;D&#148; &#151; <I>Authorized Signers (Administrator)</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">58</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Schedule &#147;E&#148; &#151; <I>Authorized Signers (Named Fiduciary)</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">59</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Schedule &#147;F&#148; &#151; <I>Statement of Qualified Status</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">60</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Schedule &#147;G&#148; &#151; <I>Exchange Guidelines</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">62</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Schedule &#147;H&#148; &#151; <I>Operational Guidelines for Non-Fidelity Mutual Funds</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">68</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Schedule &#147;I&#148; &#151; <I>Securities That May Not Be Purchased Under the BrokerageLink Option</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">70</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Schedule &#147;J&#148; &#151; <I>BrokerageLink Administrative Procedures</I>
</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">71</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Schedule &#147;K&#148; &#151; <I>Form&nbsp;5500 Service</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">74</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Schedule &#147;L&#148; &#151; <I>Operating Guidelines for Investment Options Exchanges Fidelity Retirement Plan Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">76</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Schedule
&#147;M&#148; &#151; <I>Investment Management Agreement</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">77</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">-ii-
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>TRUST AGREEMENT</B>, dated as of the fifteenth day of August, 2005, between the <B>EXPEDIA, INC.</B>, a
Washington corporation, having an office at 3150 139<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> Avenue SE, Bellevue, Washington
98005 (the &#147;Sponsor&#148;), and <B>FIDELITY MANAGEMENT TRUST COMPANY</B>, a Massachusetts trust company, having
an office at 82 Devonshire Street, Boston, Massachusetts 02109 (the &#147;Trustee&#148;).
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>WITNESSETH:</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>, the Sponsor is the sponsor of the Expedia Retirement Savings Plan (the &#147;Plan&#148;); and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>, the Sponsor wishes to establish a single trust to hold and invest assets of the Plan
for the exclusive benefit of Participants, as defined herein, in the Plan and their beneficiaries;
Other Frozen Investments will not be held in Trust by the Trustee; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>, the Trustee is willing to hold and invest the aforesaid Plan assets in trust among
several investment options selected by the Committee, as defined herein. However, other Frozen
Investments will not be held in Trust by the Trustee; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>, the Sponsor also wishes to have the Trustee perform certain ministerial recordkeeping
and administrative functions under the Plan; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>, the Trustee is willing to perform recordkeeping and administrative services for the
Plan if the services are ministerial in nature and are provided within a framework of plan
provisions, guidelines and interpretations conveyed in writing to the Trustee by the Administrator
(as defined herein).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>NOW, THEREFORE, </B>in consideration of the foregoing premises and the mutual covenants and
agreements set forth below, the Sponsor and the Trustee agree as follows:
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Section&nbsp;1.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Definitions.</B></TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following terms as used in this Trust Agreement have the meaning indicated unless the context
clearly requires otherwise:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(a)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;ACH&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;ACH&#148; shall mean Automated Clearing House.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(b)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Administrator&#148;</B></TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Administrator&#148; shall mean the Sponsor, identified in the Plan document as the administrator of the
Plan (within the meaning of section 3(16)(A) of ERISA).
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(c)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Agreement&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Agreement&#148; shall mean this Trust Agreement, and the Schedules and Exhibits attached hereto, as the
same may be amended and in effect from time to time.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(d)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;BrokerageLink&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;BrokerageLink&#148; shall mean the Participant directed brokerage option offered under the plan.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(e)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;BrokerageLink Core Account&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;BrokerageLink Core Account&#148; shall mean the money market fund that serves as a settlement vehicle
for the purchases and sales of securities via BrokerageLink. All contributions directed to
BrokerageLink and all additional BrokerageLink investments are first deposited in the BrokerageLink
Core Account.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(f)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Business Day&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Business Day&#148; shall mean each day the NYSE is open.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(g)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Code&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Code&#148; shall mean the Internal Revenue Code of 1986, as it has been or may be amended from time to
time.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(h)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Committee&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Committee&#148; shall mean the administrative committee appointed by the Sponsor pursuant to the terms
of the Plan to administer the Plan in accordance with its terms and is a named fiduciary of the
Plan (within the meaning of section 402(a) of ERISA.)
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(i)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Confidential Information&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Confidential Information&#148; shall mean (individually and collectively) proprietary information of
the parties to this Trust Agreement, including but not limited to, their inventions, confidential
information, know how, trade secrets, business affairs, prospect lists, product designs, product
plans, business strategies, finances, fee structures, etc.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(j)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Declaration of Separate Fund&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Declaration of Separate Fund&#148; shall mean the declaration of separate fund for each fund of the
Group Trust.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(k)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;EDT&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;EDT&#148; shall mean electronic data transfer.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(l)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Electronic Services&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Electronic Services&#148; shall mean communications and services made available via electronic media.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(m)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;ERISA&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;ERISA&#148; shall mean the Employee Retirement Income Security Act of 1974, as it has been or may be
amended from time to time.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(n)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;External Account Information&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;External Account Information&#148; shall mean account information, including retirement savings account
information, from third party websites or other websites maintained by Fidelity or its affiliates.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(o)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;FBSLLC&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;FBSLLC&#148; shall mean Fidelity Brokerage Services LLC.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(p)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Fidelity Mutual Fund&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Fidelity Mutual Fund&#148; shall mean any investment company advised by Fidelity Management &#038; Research
Company or any of its affiliates.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(q)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Fidelity Retirement Plan Manager</B><SUP style="font-size: 85%; vertical-align: text-top"><B><SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></B></SUP><B>&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Fidelity Retirement Plan Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP>&#148; shall mean a discretionary investment management
service provided by Strategic Advisers in accordance with an investment management agreement
attached as Schedule &#147;O&#148;, to eligible Participants who elect the service.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(r)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;FIIOC&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;FIIOC&#148; shall mean Fidelity Investments Institutional Operations Company, Inc.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(s)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Group Trust&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->7<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Group Trust&#148; shall mean the Fidelity Group Trust for Employee Benefit Plans for qualified plans.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(t)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;In Good Order&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;In Good Order&#148; shall mean in a state or condition acceptable to the Trustee in its sole
discretion, which the Trustee determines is reasonably necessary for accurate execution of the
intended transaction.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(u)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;IAC Stock Fund&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;IAC Stock Fund&#148; shall mean the investment option consisting of IAC/InterActiveCorp Common Stock,
which is traded on the NASDAQ.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(v)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Losses&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Losses&#148; shall mean any and all loss, damage, penalty, liability, cost and expense, including
without limitation, reasonable attorney&#146;s fees and disbursements.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(w)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Mutual Fund&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Mutual Fund&#148; shall refer both to Fidelity Mutual Funds and Non-Fidelity Mutual Funds.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(x)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Named Fiduciary&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Named Fiduciary&#148; shall mean the Sponsor, a named fiduciary of the Plan (within the meaning of
section 402(a) of ERISA). The Sponsor has delegated the responsibilities of the named fiduciary to
the Committee.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(y)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;NAV&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;NAV&#148; shall mean Net Asset Value.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(z)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;NFSLLC&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;NFSLLC&#148; shall mean National Financial Services LLC.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(aa)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Non-Fidelity Mutual Fund&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Non-Fidelity Mutual Fund&#148; shall mean certain investment companies not advised by Fidelity
Management &#038; Research Company or any of its affiliates.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(bb)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;NYSE&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->8<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;NYSE&#148; shall mean the New York Stock Exchange.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(cc)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Participant&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Participant&#148; shall mean, with respect to the Plan, any employee, former employee, or alternate
payee with an account under the Plan, which has not yet been fully distributed and/or forfeited,
and shall include the designated beneficiary(ies) with respect to the account of any deceased
employee, former employee, or alternate payee until such account has been fully distributed and/or
forfeited.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(dd)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Participant Recordkeeping Reconciliation Period&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Participant Recordkeeping Reconciliation Period&#148; shall mean the period beginning on the date of
the initial transfer of assets to the Trust and ending on the date of the completion of the
reconciliation of Participant records.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(ee)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Participation Agreement&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Participation Agreement&#148; shall mean the participation agreement for the Group Trust.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(ff)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;PIN&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;PIN&#148; shall mean personal identification number.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(gg)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Plan&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Plan&#148; shall mean the Expedia Retirement Savings Plan, as it has or may be amended from time to
time.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(hh)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Plan Administration Manual&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Plan Administration Manual&#148; shall mean the document which sets forth the administrative and
recordkeeping duties and procedures to be followed by the Trustee in administering the Plan, as
such document may be amended and in effect from time to time.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(ii)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Plan Sponsor Webstation&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Plan Sponsor Webstation&#148; shall mean the graphical windows based application that provides current
Plan and Participant information including indicative data, account balances, activity and history.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(jj)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Reporting Date&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->9<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Reporting Date&#148; shall mean the last day of each fiscal quarter of the Plan and, if not on the last
day of a fiscal quarter, the date as of which the Trustee resigns or is removed pursuant to Section
9 hereof or the date as of which this Agreement terminates pursuant to Section&nbsp;11 hereof.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(kk)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;SEC&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;SEC&#148; shall mean the United States Securities and Exchange Commission.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(ll)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;SPO&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;SPO&#148; shall mean the Standard Plan Options which are the basic non-brokerage investment options
available in the Plan. Schedule &#147;C&#148; lists all of the investment options available in the Plan,
including the brokerage option (BrokerageLink) and the non-brokerage options (SPO).
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(mm)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;SPO Default Fund&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;SPO Default Fund&#148; shall mean the SPO investment option into which the transferred assets will be
placed when Participants transfer assets from BrokerageLink to the SPO.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(nn)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Sponsor&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Sponsor&#148; shall mean Expedia, Inc., a Washington corporation, or any successor to all or
substantially all of its businesses which, by agreement, operation of law or otherwise, assumes the
responsibility of the Sponsor under this Agreement.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(oo)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Sponsor Stock&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Sponsor Stock&#148; shall mean the common stock of the Sponsor, or such other publicly traded stock of
the Sponsor, or such other publicly-traded stock of the Sponsor&#146;s affiliates as meets the
requirements of section 407(d)(5) of ERISA with respect to the Plan.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(pp)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Stock Fund&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Stock Fund&#148; shall mean the investment option consisting of Sponsor Stock.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(qq)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Strategic Advisers&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Strategic Advisers&#148; shall mean Strategic Advisers, Inc., an affiliate of the Trustee, and a
registered investment adviser, or its successors or assigns.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(rr)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Trust&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->10<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Trust&#148; shall mean the Expedia Retirement Savings Plan Trust, being the trust established by the
Sponsor and the Trustee pursuant to the provisions of this Agreement.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(ss)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Trustee&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Trustee&#148; shall mean Fidelity Management Trust Company, a Massachusetts trust company and any
successor to all or substantially all of its trust business as described in Section&nbsp;10(c). The
term Trustee shall also include any successor trustee appointed pursuant to Section&nbsp;10 to the
extent such successor agrees to serve as Trustee under this Agreement.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(tt)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;VRS&#148;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;VRS&#148; shall mean Voice Response System.
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Section&nbsp;2.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Trust.</B></TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Sponsor hereby establishes the Trust with the Trustee. The Trust shall consist of an initial
contribution of money or other property acceptable to the Trustee in its sole discretion, made by
the Sponsor or transferred from a previous trustee under the Plan, such additional sums of money or
other property acceptable to the Trustee in its sole discretion, as shall from time to time be
delivered to the Trustee under the Plan, all investments made therewith and proceeds thereof, and
all earnings and profits thereon, less the payments that are made by the Trustee as provided
herein. The Trustee hereby accepts the Trust on the terms and conditions set forth in this
Agreement. In accepting this Trust, the Trustee shall be accountable for the assets received by
it, subject to the terms and conditions of this Agreement.
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Section&nbsp;3.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Exclusive Benefit and Reversion of Sponsor Contributions.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Except as provided under applicable law, no part of the Trust may be used for, or diverted
to, purposes other than the exclusive benefit of the Participants in the Plan or their
beneficiaries or the reasonable expenses of Plan administration. No assets of the Plan shall
revert to the Sponsor, except as specifically permitted by the terms of the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Assignment or Alienation.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Except as may be provided by law, the Trust shall not be subject to any form of attachment,
garnishment, sequestration or other actions of collection afforded creditors of the Sponsor,
Participants or beneficiaries
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->11<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">under the Plan. The Trustee shall not recognize any permitted
assignment or alienation of benefits unless an authorized direction is received from the Committee.
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Section&nbsp;4.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Disbursements.</B></TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Trustee shall make disbursements as directed by the Participant or the Administrator, as
applicable, in accordance with the provisions of the Plan Administration Manual. The Trustee shall
have no responsibility to ascertain any direction&#146;s compliance with the terms of the Plan (except
to the extent the terms of the Plan have been communicated to the Trustee in writing) or of any
applicable law or the direction&#146;s effect for tax purposes or otherwise; nor shall the Trustee have
any responsibility to see to the application of any disbursement. The Trustee shall not be required
to make any disbursement in excess of the net realizable value of the assets of the Trust at the
time of the disbursement.
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Section&nbsp;5.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Investment of Trust.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(a)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Selection of Investment Options or Fidelity Retirement Plan
Manager</B><SUP style="font-size: 85%; vertical-align: text-top"><B><SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></B></SUP><B>.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Trustee shall have no responsibility for the selection of investment options under the Trust or
the decision to offer Fidelity Retirement Plan Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP>, and shall not render investment advice to
any person in connection with the selection of such options or service.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(b)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Available Investment Options.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Committee shall direct the Trustee as to the investment options in which the Trust shall be
invested during the Participant Recordkeeping Reconciliation Period and the investment options in
which Participants may invest following the Participant Recordkeeping Reconciliation Period. The
Committee may determine to offer as investment options only: (i)&nbsp;Mutual Funds, (ii)&nbsp;Sponsor Stock,
(iii)&nbsp;non-diversified funds consisting of publicly traded equity securities, namely IAC Corp stock,
(iv)&nbsp;notes evidencing loans to Participants in accordance with the terms of the Plan, (v)
BrokerageLink and (vi)&nbsp;collective investment funds maintained by the Trustee for qualified plans.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Trustee shall be considered a fiduciary with investment discretion only with respect to Plan
assets that are invested in collective investment funds maintained by the Trustee for qualified
plans.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->12<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The investment options initially selected by the Committee are identified on Schedule &#147;C&#148; attached
hereto. Upon transfer to the Trust, Plan assets will be invested in the investment option(s) as
directed by the Committee. The Committee may add additional investment options or remove
investment options with the consent of the Trustee to reflect administrative considerations and
upon mutual amendment of this Agreement, and the Schedules thereto, to reflect such additions or
removals.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(c)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Participant Direction.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As authorized under the Plan, each Participant shall direct the Trustee in which investment
option(s) to invest the assets in the Participant&#146;s individual accounts , or shall direct the
Trustee to invest such Participant&#146;s individual accounts among the Plan&#146;s available investment
options in accordance with investment directions provided by Strategic Advisers under the Fidelity
Retirement Plan Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> service. In the event the Participant elects to participate in the
Fidelity Retirement Plan Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> service, he or she may not exercise investment direction over his
or her Plan account (except for assets held in sponsor stock) until his or her participation in
such service has terminated. Investment directions may be made by Participants by use of the
telephone exchange system, the internet or in such other manner as may be agreed upon from time to
time by the Sponsor and the Trustee. Participant direction to participate in Fidelity Retirement
Plan Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> (or to cease such participation) shall be made by use of the telephone exchange
system, or in such other manner as may be agreed upon from time to time by the Sponsor the Trustee.
Any direction from Participants contemplated by this paragraph shall be made in accordance with
written exchange guidelines attached hereto as Schedule &#147;G&#148;. The Trustee shall not be liable for
any loss or expense that arises from a Participant&#146;s exercise or non-exercise of rights under this
Section&nbsp;5 over the assets in the Participant&#146;s accounts. In the event that the Trustee fails to
receive a proper direction from the Participant, the assets shall be invested in the investment
option set forth for such purpose on Schedule &#147;C&#148;, until the Trustee receives a proper direction.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(d)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Mutual Funds.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On the effective date of this Agreement, in lieu of receiving a printed copy of the prospectus for
each Fidelity Mutual Fund selected by the Committee as a Plan investment option or short-term
investment fund, the Committee hereby consents to receiving such documents electronically. The
Committee shall access each prospectus on the internet after receiving notice from the Trustee that
a current version is available online at a website maintained by the Trustee or its affiliate.
Trustee represents that on the effective date of this Agreement, a current version of each such
prospectus is available at <U>http://www.fidelity.com</U> or such successor website as Trustee may
notify the Committee of in writing from time to time. The Committee represents that it has
accessed/will access each such prospectus at <U>http://www.fidelity.com</U> or such successor
website as Trustee may notify the Committee of in writing
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->13<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">from time to time as of the effective
date of this Agreement. All transactions involving Non-Fidelity Mutual Funds shall be done in
accordance with the Operational Guidelines attached hereto as Schedule &#147;H&#148;. Trust investments in
Mutual Funds shall be subject to ERISA, other applicable law and the following limitations:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Execution of Purchases and Sales of Mutual Funds</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Purchases and sales of Mutual Funds (other than for exchanges) shall be made on the date on which
the Trustee receives from the Administrator In Good Order all information, documentation and wire
transfer of funds (if applicable), necessary to accurately effect such transactions. Exchanges of
Mutual Funds pursuant to Participant request shall be made in accordance with the Exchange
Guidelines attached hereto as Schedule &#147;G&#148;.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Voting.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">At the time of mailing of notice of each annual or special stockholders&#146; meeting of any Mutual
Fund, the Trustee shall send a copy of the notice and all proxy solicitation materials to each
Participant who has shares of such Mutual Fund credited to the Participant&#146;s accounts as of the
record date for the annual or special stockholders meeting, together with a voting direction form
for return to the Trustee or its designee. The Participant shall have the right to direct the
Trustee as to the manner in which the Trustee is to vote the shares credited to the Participant&#146;s
accounts (both vested and unvested). The Trustee shall vote the shares as directed by the
Participant. The Trustee shall not vote shares for which it has received no directions from the
Participant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">During the Participant Recordkeeping Reconciliation Period, the Committee shall have the right to
direct the Trustee as to the manner in which the Trustee is to vote the shares of the Mutual Funds
in the Trust, including Mutual Fund shares held in any short-term investment fund for liquidity
reserve. Following the Participant Recordkeeping Reconciliation Period, the Committee shall
continue to have the right to direct the Trustee as to the manner in which the Trustee is to vote
any Mutual Funds shares held in a short-term investment fund for liquidity reserve. The Trustee
shall not vote any Mutual Fund shares for which it has received no directions from the Committee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">With respect to all rights other than the right to vote, the Trustee shall follow the directions of
the Participant and if no such directions are received, the directions of the Committee. The
Trustee shall have no further duty to solicit directions from Participants or the Committee.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->14<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(e)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Sponsor Stock.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Trust investments in Sponsor Stock shall be made via the Stock Fund. Dividends received on shares
of Sponsor Stock shall be reinvested in additional shares of Sponsor Stock and allocated to
Participants&#146; accounts.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Acquisition Limit.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the Plan, the Trust may be invested in Sponsor Stock to the extent necessary to comply
with investment directions under this Agreement. The Sponsor shall be responsible for providing
specific direction on any acquisition limits required by the Plan or applicable law.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Fiduciary Duty.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;The Committee shall continually monitor the suitability of the Trust acquiring and holding
Sponsor Stock, under the fiduciary duty rules of section 404(a)(1) of ERISA (as modified by section
404(a)(2) of ERISA). The Trustee shall not be liable for any loss, or expense, which arises from
the directions of the Committee with respect to the acquisition and holding of Sponsor Stock,
unless it is clear on their face that the actions to be taken under those directions would be
prohibited by the foregoing fiduciary duty rules or would be contrary to the terms of this
Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;Each Participant with an interest in Sponsor Stock (or, in the event of the Participant&#146;s
death, his beneficiary) is, for purposes of this section 5(e)(ii), hereby designated as a &#147;named
fiduciary&#148; (within the meaning of section 403(a)(1) of ERISA), with respect to shares of Sponsor
Stock allocated to his or her account whether or not purchased at his or her direction, and such
Participant (or beneficiary) shall have the right to direct the Trustee as to the manner in which
the Trustee is to vote or tender or not tender such shares in their capacity<B><I>.</I></B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Purchases and Sales of Sponsor Stock for Batch Activity.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise directed by the Sponsor in writing pursuant to directions that the Trustee
can administratively implement, the following provisions shall govern purchases and sales of
Sponsor Stock for contributions, loan repayments, distributions, loans, withdrawals, or any other
purchase or sale of Sponsor Stock related to a transaction that the Committee has directed the
Trustee in writing to implement on a batch basis (&#147;batch activity&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;<U>Open Market Purchases and Sales</U>. Purchases and sales of Sponsor Stock shall be
made on the open market in accordance with the Trustee&#146;s standard trading guidelines, as they
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->15<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">may
be amended from time to time, as necessary to honor batch activity. Such general rules shall not
apply in the following circumstances:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;If the Trustee is unable to purchase or sell the total number of shares required to be
purchased or sold on such day as a result of market conditions; or
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;If the Trustee is prohibited by the SEC, the NYSE or principal exchange on which the
Sponsor Stock is traded, or any other regulatory or judicial body from purchasing or selling any or
all of the shares required to be purchased or sold on such day.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the event of the occurrence of a circumstance described in (1)&nbsp;or (2)&nbsp;above, the Trustee shall
purchase or sell such shares as soon thereafter as administratively feasible, and shall determine
the price of such purchases or sales to be the average purchase or sales price of all such shares
purchased or sold, respectively. The Trustee may follow written directions from the Named
Fiduciary to deviate from the above purchase and sale procedures.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Purchases and Sales of Sponsor Stock for Participant-Initiated Exchanges
(&#147;Real Time&#148; Trading)</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise directed by the Sponsor in writing pursuant to directions that the Trustee
can administratively implement, the following provisions shall govern purchases and sales of
Sponsor Stock for Participant-initiated exchanges.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;<U>Purchases and Sales of Sponsor Stock</U>. Purchases and sales of Sponsor Stock
associated with individual Participant-initiated exchanges into or out of the Stock Fund shall be
made on the open market pursuant to order types selected by the Participant in accordance with the
Trustee&#146;s procedures for &#147;Real Time Trading.&#148; The Sponsor may instruct the Trustee to limit the
order types available to Participants.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;<U>Automated Order Entry</U>. Sponsor Stock trades associated with Participant-initiated
exchanges shall be sent to market as soon as administratively feasible during regular trading hours
via an electronic order entry system, unless such trade is treated as a block trade. Such
electronic order entry system shall be deemed an Electronic Service for purposes of Section&nbsp;14 of
this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;<U>Limitations on Trades; Cancellation of Exchange Requests</U>. Trades rejected under
rules of the applicable securities exchange will not be executed. The Trustee will not submit
orders (or will cancel orders) for stock trades that violate the Trustee&#146;s procedures for &#147;Real
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->16<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Time Trading&#148;. The Trustee shall not submit any trade order associated with a
Participant-initiated exchange at any time when the Sponsor Stock Fund has been closed to such
activity. Trades associated with Participant-initiated exchanges shall not be transacted at any
time when the regular market is closed, or when the SEC, the NYSE or principal exchange on which
the Sponsor Stock is traded, or any other regulatory or judicial body has prohibited purchases or
sales of any or all of the shares requested by the Participant to be traded pursuant to the
Participant-initiated exchange. An exchange requested by the Participant shall be rejected or
cancelled, as the case may be, to the extent any accompanying trade is not submitted, not executed
or cancelled.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;<U>Reserve Requirements for Exchanges Into Stock Fund and Corrective Sales</U>. The
Participant&#146;s ability to initiate exchanges into the Stock Fund shall be subject to standard
reserve requirements applicable to the investment options used to fund the exchange, as established
by the Trustee from time to time (or such higher reserve requirements as may be established by the
Sponsor in written direction to the Trustee) and described to the Committee and Participants.
Requests to exchange into the Sponsor Stock Fund that exceed such reserves, and accompanying trade
orders, may be rejected or cancelled. In the event that a buy trade associated with a request to
exchange into Sponsor Stock is executed, and the Participant does not have sufficient assets in the
designated investment option to fund the trade, the Trustee will liquidate investment options
(including those held in other sources eligible for liquidation) in the affected Participant&#146;s
account pro rata. In the event that the Participant does not have sufficient assets in any other
investment option, the Trustee shall initiate a corrective sale, and shall debit the costs of such
corrective trade from the Participant&#146;s account.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;<U>Fractional Shares</U>. Participants will be entitled to exchange out fractional
shares in the Stock Fund only in connection with a request to exchange out the entire balance of
their Stock Fund holdings (or the entire balance in a particular source, as applicable).
Fractional shares will be transacted at the price determined by the stock trade order selected by
the Participant.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(v)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Use of an Affiliated Broker.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For all purchases and sales of Sponsor Stock on the open market, whether Participant-initiated or
otherwise, the Committee hereby directs the Trustee to use FBSLLC to provide brokerage services.
Subject to the provisions of this agreement, FBSLLC shall execute such trades directly or through
any of its affiliates. The provision of brokerage services shall be subject to the following:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;As consideration for such brokerage services, the Committee agrees that FBSLLC shall be
entitled to remuneration under this direction provision in the amount of
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->17<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">$0.029 commission on each
share of Sponsor Stock. Any increase in such remuneration may be made only by written agreement
between the Committee and Trustee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;Any successor organization of FBSLLC, through reorganization, consolidation, merger or
similar transactions, shall, upon consummation of such transaction, become the successor broker in
accordance with the terms of this direction provision. FBSLLC may assign its rights and obligations under this agreement to any affiliate, provided
that the assignee is bound by the terms hereof, including the provisions concerning remuneration.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;The Trustee and FBSLLC shall continue to rely on this direction provision until notified
to the contrary. The Committee reserves the right to terminate this direction upon written notice
to FBSLLC (or its successors or assigns) and the Trustee, in accordance with Section&nbsp;11 of this
Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;The Plan Sponsor acknowledges that FBSLLC (and its successors and assigns) may rely upon
this Trust Agreement in establishing an account in the name of the Trustee for the Plan or its
Participants, and in allowing each Participant to exercise limited trading authorization over such
account, to the extent of his or her individual account balance in the Sponsor Stock Fund subject
to Participant direction.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(vi)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Securities Law Reports.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Administrator shall be responsible for filing all reports required under Federal or state
securities laws with respect to the Trust&#146;s ownership of Sponsor Stock, including, without
limitation, any reports required under section 13 or 16 of the Securities Exchange Act of 1934, and
shall immediately notify the Trustee in writing of any requirement to stop purchases or sales of
Sponsor Stock pending the filing of any report. The Trustee shall provide to the Administrator
such information on the Trust&#146;s ownership of Sponsor Stock as the Administrator may reasonably
request in order to comply with Federal or state securities laws.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(vii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Voting and Tender Offers.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Notwithstanding any other provision of this Agreement the provisions of this Section shall govern
the voting and tendering of Sponsor Stock. The Sponsor shall pay for all printing, mailing,
tabulation and other costs associated with the voting and tendering of Sponsor Stock. The Trustee,
after consultation with the Sponsor, shall prepare the necessary documents associated with the
voting and tendering of Sponsor Stock.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->18<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;<U>Voting</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;When the issuer of Sponsor Stock prepares for any annual or special meeting, the Sponsor
shall notify the Trustee at least ten (10)&nbsp;days in advance of the intended record date and shall
cause a copy of all proxy solicitation materials to be sent to the Trustee. If requested by the
Trustee the Sponsor shall certify to the Trustee that the
aforementioned materials represents the same information distributed to shareholders of
Sponsor Stock. Based on these materials, the Trustee shall prepare a voting instruction form and
shall provide a copy of all proxy solicitation materials to be sent to each Participant with an
interest in Sponsor Stock held in the Trust, together with the foregoing voting instruction form to
be returned to the Trustee or its designee. The form shall show the number of full and fractional
shares of Sponsor Stock credited to the Participant&#146;s accounts.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;Each Participant with an interest in the Sponsor Stock held in the Trust shall have the
right to direct the Trustee as to the manner in which the Trustee is to vote (including not to
vote) that number of shares of Sponsor Stock credited to the Participant&#146;s accounts (both vested
and unvested). Directions from a Participant to the Trustee concerning the voting of Sponsor Stock
shall be communicated in writing, or by such other means as agreed upon by the Trustee and the
Sponsor. These directions shall be held in confidence by the Trustee and shall not be divulged to
the Sponsor, or any officer or employee thereof, or any other person except to the extent that the
consequences of such directions are reflected in reports regularly communicated to any such person
in the ordinary course of the performance of the Trustee&#146;s services hereunder. Upon its receipt of
the directions, the Trustee shall vote the shares of Sponsor Stock as directed by the Participant.
Except as otherwise required by law, the Trustee shall vote shares of Sponsor Stock credited to a
Participant&#146;s account for which it has received no directions from the Participant in the same
proportion on each issue as it votes those shares credited to Participants&#146; account for which it
received voting direction from Participants.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;<U>Tender Offers</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;Upon commencement of a tender offer for any securities held in the Trust that are Sponsor
Stock, the Sponsor shall timely notify the Trustee in advance of the intended tender date and shall
cause a copy of all materials to be sent to the Trustee. The Sponsor shall certify to the Trustee
that the aforementioned materials represent the same information distributed to shareholders of
Sponsor Stock. Based on these materials and after consultation with the Sponsor, the Trustee shall
prepare a tender instruction form and shall provide a copy of all tender materials to be sent to
each Participant with an interest in the Stock Fund, together with the foregoing tender instruction
form, to be returned to the Trustee or its designee. The tender instruction form shall show the
number of full and fractional shares of Sponsor Stock credited to the Participants account (both
vested and unvested).
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->19<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;Each Participant with an interest in the Stock Fund shall have the right to direct the
Trustee to tender or not to tender some or all of the shares of Sponsor
Stock credited to the Participant&#146;s accounts (both vested and unvested). Directions from a
Participant to the Trustee concerning the tender of Sponsor Stock shall be communicated in writing,
or such other means as is agreed upon by the Trustee and the Sponsor. These directions shall be
held in confidence by the Trustee and shall not be divulged to the Sponsor, or any officer or
employee thereof, or any other person except to the extent that the consequences of such directions
are reflected in reports regularly communicated to any such persons in the ordinary course of the
performance of the Trustee&#146;s services hereunder. The Trustee shall tender or not tender shares of
Sponsor Stock as directed by the Participant. Except as otherwise required by law, the Trustee
shall not tender shares of Sponsor Stock credited to a Participant&#146;s accounts for which it has
received no directions from the Participant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;A Participant who has directed the Trustee to tender some or all of the shares of Sponsor
Stock credited to the Participant&#146;s accounts may, at any time prior to the tender offer withdrawal
date, direct the Trustee to withdraw some or all of the tendered shares, and the Trustee shall
withdraw the directed number of shares from the tender offer prior to the tender offer withdrawal
deadline.. A Participant shall not be limited as to the number of directions to tender or withdraw
that the Participant may give to the Trustee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;A direction by a Participant to the Trustee to tender shares of Sponsor Stock credited to
the Participant&#146;s accounts shall not be considered a written election under the Plan by the
Participant to withdraw, or have distributed, any or all of his withdrawable shares. The Trustee
shall credit to each account of the Participant from which the tendered shares were taken the
proceeds received by the Trustee in exchange for the shares of Sponsor Stock tendered from that
account. Pending receipt of directions (through the Administrator) from the Participant or the
Committee, as provided in the Plan, as to which of the remaining investment options the proceeds
should be invested in, the Trustee shall invest the proceeds in the investment option described in
Schedule &#147;C&#148;.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(viii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>General.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">With respect to all shareholder rights other than the right to vote, the right to tender, and the
right to withdraw shares previously tendered, in the case of Sponsor Stock, the Trustee shall
follow the procedures set forth in subsection (A), above.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ix)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Conversion.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">All provisions in this Section 5(e) shall also apply to any securities received as a result of a
conversion of Sponsor Stock.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->20<!-- /Folio -->
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(x)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Nasdaq Subscriber Agreement.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Sponsor represents that it has returned a properly executed &#147;Nasdaq Subscriber Agreement&#148; to
the Trustee. The Nasdaq Subscriber Agreement is required by Nasdaq and allows Participants to
receive information originating from Nasdaq on a &#147;real-time&#148; basis, through devices controlled by
the Trustee or its affiliates.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(f)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>IAC Stock.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Trust investments in IAC Stock shall be made via the IAC Stock Fund. Dividends received on shares
of IAC Stock shall be reinvested in additional shares of IAC Stock and allocated to Participants&#146;
accounts.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(x)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Acquisition Limit.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the Plan, the Trust may be invested in IAC Stock to the extent necessary to comply with
investment directions under this Agreement. The Sponsor shall be responsible for providing
specific direction on any acquisition limits required by the Plan or applicable law.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(xi)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Fiduciary Duty.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;The Committee shall continually monitor the suitability of the Trust acquiring and holding
IAC Stock, under the fiduciary duty rules of section 404(a)(1) of ERISA (as modified by section
404(a)(2) of ERISA). The Trustee shall not be liable for any loss, or expense, which arises from
the directions of the Committee with respect to the acquisition and holding of IAC Stock, unless it
is clear on their face that the actions to be taken under those directions would be prohibited by
the foregoing fiduciary duty rules or would be contrary to the terms of this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;Each Participant with an interest in IAC Stock (or, in the event of the Participant&#146;s
death, his beneficiary) is, for purposes of this section 5(f)(ii), hereby designated as a &#147;named
fiduciary&#148; (within the meaning of section 403(a)(1) of ERISA), with respect to shares of IAC Stock
allocated to his or her account whether or not purchased at his or her direction, and such
Participant (or beneficiary) shall have the right to direct the Trustee as to the manner in which
the Trustee is to vote or tender such shares in their capacity<B><I>.</I></B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(xii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Sales of IAC Stock for Batch Activity.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise directed by the Sponsor in writing pursuant to directions that the Trustee
can administratively implement, the following provisions shall govern the sale of IAC Stock for
contributions, loan repayments, distributions, loans, withdrawals, or any other sale of IAC Stock
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->21<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">related to a transaction that the Sponsor has directed the Trustee in writing to implement on
a batch basis (&#147;batch activity&#148;).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;<U>Open Market Sales</U>. Sales of IAC Stock shall be made on the open market in
accordance with the Trustee&#146;s standard trading guidelines, as they may be amended from time to
time, as necessary to honor batch activity. Such general rules shall not apply in the following
circumstances:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;If the Trustee is unable to sell the total number of shares required to be sold on such
day as a result of market conditions; or
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;If the Trustee is prohibited by the SEC, the NYSE or principal exchange on which the IAC
Stock is traded, or any other regulatory or judicial body from selling any or all of the shares
required to be sold on such day.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the event of the occurrence of a circumstance described in (1)&nbsp;or (2)&nbsp;above, the Trustee shall
sell such shares as soon thereafter as administratively feasible, and shall determine the price of
such sales to be the average sales price of all such shares sold, respectively. The Trustee may
follow written directions from the Committee to deviate from the above sale procedures.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(xiii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Sales of IAC Stock for Participant-Initiated Exchanges (&#147;Real Time&#148; Trading)</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise directed by the Sponsor in writing pursuant to directions that the Trustee
can administratively implement, the following provisions shall govern sales of IAC Stock for
Participant-initiated exchanges.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;<U>Sales of IAC Stock</U>. Sales of IAC Stock associated with individual
Participant-initiated exchanges out of the IAC Stock Fund shall be made on the open market pursuant
to order types selected by the Participant in accordance with the Trustee&#146;s procedures for &#147;Real
Time Trading.&#148; The Sponsor may instruct the Trustee to limit the order types available to
Participants.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;<U>Automated Order Entry</U>. IAC Stock trades associated with Participant-initiated
exchanges shall be sent to market as soon as administratively feasible during regular trading hours
via an electronic order entry system, unless such trade is treated as a block trade. Such
electronic order entry system shall be deemed an Electronic Service for purposes of Section&nbsp;14 of
this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Limitations on Trades; Cancellation of Exchange Requests</U>. Trades rejected under rules
of the applicable securities exchange will not be executed. The Trustee will not submit orders (or will
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->22<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">cancel orders) for stock trades that violate the Trustee&#146;s procedures for &#147;Real Time Trading&#148;.
The Trustee shall not submit any trade order associated with a Participant-initiated exchange at
any time when the IAC Stock Fund has been closed to such activity. Trades associated with
Participant-initiated exchanges shall not be transacted at any time when the regular market is
closed, or when the SEC, the NYSE or principal exchange on which the IAC Stock is traded, or any
other regulatory or judicial body has prohibited sales of any or all of the shares requested by the
Participant to be traded pursuant to the Participant-initiated exchange. An exchange requested by
the Participant shall be rejected or cancelled, as the case may be, to the extent any accompanying
trade is not submitted, not executed or cancelled. Participants will be entitled to exchange out
fractional shares in the IAC Stock Fund only in connection with a request to exchange out the
entire balance of their IAC Stock Fund holdings (or the entire balance in a particular source, as
applicable). Fractional shares will be transacted at the price determined by the stock trade order
selected by the Participant.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(xv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Use of an Affiliated Broker.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For all sales of IAC Stock on the open market, whether Participant-initiated or otherwise, the
Committee hereby directs the Trustee to use FBSLLC to provide brokerage services. Subject to the
provisions of this agreement, FBSLLC shall execute such trades directly or through any of its
affiliates. The provision of brokerage services shall be subject to the following:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;As consideration for such brokerage services, the Committee agrees that FBSLLC shall be
entitled to remuneration under this direction provision in the amount of $0.029 commission on each
share of IAC Stock. Any increase in such remuneration may be made only by written agreement
between the Committee and Trustee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;Any successor organization of FBSLLC, through reorganization, consolidation, merger or
similar transactions, shall, upon consummation of such transaction, become the successor broker in
accordance with the terms of this direction provision. FBSLLC may assign its rights and
obligations under this agreement to any affiliate, provided that the assignee is bound by the terms
hereof, including the provisions concerning remuneration.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;The Trustee and FBSLLC shall continue to rely on this direction provision until notified
to the contrary. The Committee reserves the right to terminate this direction upon written notice
to FBSLLC (or its successors or assigns) and the Trustee, in accordance with Section&nbsp;11 of this
Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;The Plan Sponsor acknowledges that FBSLLC (and its successors and assigns) may rely upon
this Trust Agreement in establishing an account in the name of the Trustee for the Plan or its Participants, and in allowing each Participant to
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->23<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">exercise limited
trading authorization over such account, to the extent of his or her individual account balance in
the IAC Stock Fund subject to Participant direction.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(xiv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Securities Law Reports.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Administrator shall be responsible for filing all reports required under Federal or state
securities laws with respect to the Trust&#146;s ownership of IAC Stock, including, without limitation,
any reports required under section 13 or 16 of the Securities Exchange Act of 1934, and shall
immediately notify the Trustee in writing of any requirement to stop sales of IAC Stock pending the
filing of any report. The Trustee shall provide to the Administrator such information on the
Trust&#146;s ownership of IAC Stock as the Administrator may reasonably request in order to comply with
Federal or state securities laws.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(xv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Voting and Tender Offers.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Notwithstanding any other provision of this Agreement the provisions of this Section shall govern
the voting and tendering of IAC Stock. The Sponsor shall pay for all printing, mailing, tabulation
and other costs associated with the voting and tendering of IAC Stock. The Trustee, after
consultation with the Sponsor, shall prepare the necessary documents associated with the voting and
tendering of IAC Stock.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="12%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(A)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Voting</U>.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;When the issuer of IAC Stock prepares for any annual or special meeting, the Sponsor shall
notify the Trustee at least ten (10)&nbsp;days in advance of the intended record date and shall cause a
copy of all proxy solicitation materials to be sent to the Trustee. If requested by the Trustee
the Sponsor shall certify to the Trustee that the aforementioned materials represent the same
information distributed to shareholders of IAC Stock. Based on these materials, the Trustee shall
prepare a voting instruction form and shall provide a copy of all proxy solicitation materials to
be sent to each Participant with an interest in IAC Stock held in the Trust, together with the
foregoing voting instruction form to be returned to the Trustee or its designee. The form shall
show the number of full and fractional shares of IAC Stock credited to the Participant&#146;s accounts.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;Each Participant with an interest in the IAC Stock held in the Trust shall have the right
to direct the Trustee as to the manner in which the Trustee is to vote (including not to vote) that
number of shares of IAC Stock credited to the Participant&#146;s accounts (both vested and unvested).
Directions from a Participant to the Trustee concerning the voting of IAC Stock shall be
communicated in writing, or by such other means as agreed upon by the Trustee and the Sponsor.
These directions shall be held in confidence by the Trustee and shall not be divulged to the
Sponsor, or any
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->24<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">officer or employee thereof, or any other person except to the extent that the consequences of
such directions are reflected in reports regularly communicated to any such person in the ordinary
course of the performance of the Trustee&#146;s services hereunder. Upon its receipt of the directions,
the Trustee shall vote the shares of IAC Stock as directed by the Participant. Except as
otherwise required by law, the Trustee shall vote shares of IAC Stock credited to a Participant&#146;s
account for which it has received no directions from the Participant in the same proportion on each
issue as it votes those shares credited to Participants&#146; account for which it received voting
direction from Participants.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="12%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(B)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Tender Offers</U>.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;Upon commencement of a tender offer for any securities held in the Trust that are IAC
Stock, the Sponsor shall timely notify the Trustee in advance of the intended tender date and shall
cause a copy of all materials to be sent to the Trustee. The Sponsor shall certify to the Trustee
that the aforementioned materials represent the same information distributed to shareholders of IAC
Stock. Based on these materials and after consultation with the Sponsor, the Trustee shall prepare
a tender instruction form and shall provide a copy of all tender materials to be sent to each
Participant with an interest in the IAC Stock Fund, together with the foregoing tender instruction
form, to be returned to the Trustee or its designee. The tender instruction form shall show the
number of full and fractional shares of IAC Stock credited to the Participants account (both vested
and unvested).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;Each Participant with an interest in the IAC Stock Fund shall have the right to direct the
Trustee to tender or not to tender some or all of the shares of IAC Stock credited to the
Participant&#146;s accounts (both vested and unvested). Directions from a Participant to the Trustee
concerning the tender of IAC Stock shall be communicated in writing, or such other means as is
agreed upon by the Trustee and the Sponsor. These directions shall be held in confidence by the
Trustee and shall not be divulged to the Sponsor, or any officer or employee thereof, or any other
person except to the extent that the consequences of such directions are reflected in reports
regularly communicated to any such persons in the ordinary course of the performance of the
Trustee&#146;s services hereunder. The Trustee shall tender or not tender shares of IAC Stock as
directed by the Participant. Except as otherwise required by law, the Trustee shall not tender
shares of IAC Stock credited to a Participant&#146;s accounts for which it has received no directions
from the Participant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;A Participant who has directed the Trustee to tender some or all of the shares of IAC
Stock credited to the Participant&#146;s accounts may, at any time prior to the tender offer withdrawal
date, direct the Trustee to withdraw some or all of the tendered shares, and the Trustee shall
withdraw the directed number of shares from the tender offer prior to the tender offer withdrawal
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->25<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">deadline. A Participant shall not be limited as to the number of directions to tender or
withdraw that the Participant may give to the Trustee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;A direction by a Participant to the Trustee to tender shares of IAC Stock credited to the
Participant&#146;s accounts shall not be considered a written election under the Plan by the Participant
to withdraw, or have distributed, any or all of his withdrawable shares. The Trustee shall credit
to each account of the Participant from which the tendered shares were taken the proceeds received
by the Trustee in exchange for the shares of IAC Stock tendered from that account. Pending receipt
of directions (through the Administrator) from the Participant or the Committee, as provided in the
Plan, as to which of the remaining investment options the proceeds should be invested in, the
Trustee shall invest the proceeds in the investment option described in Schedule &#147;C&#148;.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(xvi)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>General.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">With respect to all shareholder rights other than the right to vote, the right to tender, and the
right to withdraw shares previously tendered, in the case of IAC Stock, the Trustee shall follow
the procedures set forth in subsection (A), above.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(xvii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Conversion.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">All provisions in this Section 5(f) shall also apply to any securities received as a result of a
conversion of Sponsor Stock.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(xviii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Nasdaq Subscriber Agreement.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Sponsor represents that it has returned a properly executed &#147;Nasdaq Subscriber Agreement&#148; to
the Trustee. The Nasdaq Subscriber Agreement is required by Nasdaq and allows Participants to
receive information originating from Nasdaq on a &#147;real-time&#148; basis, through devices controlled by
the Trustee or its affiliates.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(g)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Participant Loans.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Loans shall be processed and administered in accordance with the terms of the Plan and the loan
policy adopted from time to time by the Administrator, as set forth in the Plan Administration
Manual. Except with regard to terminated Participants using loan coupons, the Administrator shall
act as the Trustee&#146;s agent with regard to Loans and as such shall (i)&nbsp;separately account for
repayments of such loans and clearly identify such assets as Plan assets; and (ii)&nbsp;collect and
remit all principal and interest payments to the Trustee. To the extent that the Participant is
required to submit loan documentation to the Administrator for approval prior to the issuance of a
loan, the Administrator, on behalf of the trust, shall
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->26<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">be responsible for (i)&nbsp;holding physical custody of and keeping safe the notes and other loan
documents; and (ii)&nbsp;canceling and surrendering the notes and other loan documentation when a loan
has been paid in full.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To facilitate recordkeeping, the Trustee may destroy the original of any proceeds check (including
the promissory note) made in connection with a loan to a Participant under the Plan, provided that
the Trustee or its agent first creates a duplicate by a photographic or optical scanning or other
process yielding a reasonable facsimile of the proceeds check (including the promissory note) and
the Participant&#146;s signature thereon, which duplicate may be reduced or enlarged in size from the
actual size of the original.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(h)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>BrokerageLink.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Sponsor hereby directs the Trustee to use FBSLLC to purchase or sell individual securities for
Participant BrokerageLink accounts (&#147;Participant Accounts&#148;) in accordance with investment
directions provided by Participants. The Sponsor directs the Trustee to establish a Participant
Account with FBSLLC in the name of the Trustee for each Participant electing to utilize the
BrokerageLink option. Each so electing Participant shall be granted limited trading authority over
the Participant Account established for such Participant, and FBSLLC shall accept and act upon
instructions from such Participants to buy, sell, exchange, convert, tender, trade and otherwise
acquire and dispose of securities in the Participant Accounts. The provision of BrokerageLink
shall be subject to the following:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;Each Participant who elects to utilize the BrokerageLink option must complete a
BrokerageLink Participant Acknowledgement Form which incorporates the provisions of the
BrokerageLink Account Terms and Conditions. Upon acceptance by FBSLLC of the BrokerageLink
Participant Acknowledgement Form, FBSLLC will establish a Participant Account for the Participant.
Participant activity in the Participant Account will be governed by the BrokerageLink Participant
Acknowledgement Form and the BrokerageLink Account Terms and Conditions. In the event that a
provision of either the BrokerageLink Account Terms and Conditions or the BrokerageLink Participant
Acknowledgement Form conflicts with the terms of this Agreement, the Plan or an applicable statute
or regulation, the Agreement, the Plan or the applicable statute or regulation shall control.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;Any successor organization of FBSLLC, through reorganization, consolidation, merger or
similar transactions, shall, upon consummation of such transaction, become the successor broker in
accordance with the terms of this authorization provision.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;The Trustee and FBSLLC shall continue to rely on this direction provision until notified
to the contrary. The Sponsor reserves the right to terminate this direction upon written notice to
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->27<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">the Trustee, in accordance with Section&nbsp;11 of this Agreement. Such notice shall be deemed a
direction to terminate BrokerageLink as an investment option.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;The types of securities which may not be purchased under BrokerageLink are listed on
Schedule &#147;I&#148;. Administrative procedures governing investment in and withdrawals from BrokerageLink
Participant Accounts are attached hereto as Schedule &#147;J&#148;.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;With respect to exchanges from the SPO into the Participant Account, the Named Fiduciary
hereby directs the Trustee to submit for processing all instructions for purchases into the
BrokerageLink Core Account resulting from such exchange requests on the next Business Day.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;A Participant has the authority to designate an agent to have limited trading authority
over assets in the Participant Account established for such Participant. Such agent as the
Participant may designate shall have the same authority to trade in and otherwise transact business
in the Participant Account, in the same manner and to the same extent as the Participant is
otherwise empowered to do hereunder, and FBSLLC shall act upon instructions from the agent as if
the instructions had come from the Participant. Designation of an agent by the Participant is
subject to acceptance by FBSLLC of a completed BrokerageLink Third Party Limited Trading
Authorization Form, the terms of which shall govern the activity of the Participant and the
authorized agent. In the event that a provision of the BrokerageLink Third Party Limited Trading
Authorization Form conflicts with the terms of the BrokerageLink Participant Acknowledgement Form,
the BrokerageLink Account Terms and Conditions, this Agreement, the Plan or an applicable statute
or regulation, the terms of the BrokerageLink Participant Acknowledgement Form, the BrokerageLink
Account Terms and Conditions, this Agreement, the Plan or the applicable statute or regulation
shall control.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;The Participant shall be solely responsible for receiving and responding to all trade
confirmations, account statements, prospectuses, annual reports, proxies and other materials that
would otherwise be distributed to the owner of the Participant Account. With respect to proxies
for securities held in the Participant Account, FBSLLC shall send a copy of the meeting notice and
all proxies and proxy solicitation materials, together with a voting direction form, to the
Participant and the Participant shall have the authority to direct the exercise of all shareholder
rights attributable to those securities. The Trustee shall not exercise such rights in the absence
of direction from the Participant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;FBSLLC shall buy, sell, exchange, convert, tender, trade and otherwise acquire and
dispose of securities in Participant Accounts, transfer funds to and from the BrokerageLink Core
Account and the SPO Default Fund, collect any fees or other remuneration due FBSLLC or any of its
affiliates, and make distributions directly to the Participant, in accordance with the
administrative
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">procedures set forth in Schedule &#147;J&#148;. No prior notice to or consent from the Participant is
required. In the event of a transfer of the Plan to another service provider, the directions of
the Sponsor in transferring Plan assets shall control. Such transfers may be effected without
notice to or consent from the Participant.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)&nbsp;FBSLLC may accept from the Participant, changes to indicative data including, but not
limited to, postal address, email address, and phone number associated with the Participant Account
established for the Participant.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(i)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Fidelity Retirement Plan Manager</B><SUP style="font-size: 85%; vertical-align: text-top"><B><SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></B></SUP><B>.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;This section is intended to authorize appointment of an
investment manager as contemplated in Section&nbsp;402(c)(3) of ERISA. The Sponsor may appoint an investment
manager, and, pursuant to the agreement attached as Schedule &#147;M&#148;, the Sponsor has so appointed
Strategic Advisers with respect to assets held in the individual Plan accounts of participants
electing to participate in the Fidelity Retirement Plan Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> service. That appointment extends
only to Managed Assets, as defined below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;Managed Assets shall be comprised of those assets held in or
contributed to the individual plan accounts of eligible Participants (except for assets held in sponsor stock)
from whom the Trustee or its agent has received In Good Order an election to participate in the
Fidelity Retirement Plan Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> service, and whose participation has not been terminated in
accordance with subparagraph (iv). All Participants (including terminated and retired
Participants) and beneficiaries are eligible for Fidelity Retirement Plan Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP>. In order to be
eligible for the service, a Participant must have a Plan account balance equal to or greater than
an amount as the Trustee and Strategic Advisers may determine in their sole discretion, after
notice to the Sponsor. Participants who hold non-traditional investment options in their Plan
account, such as self-directed brokerage assets, are ineligible for the service until such holdings
are liquidated.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;Purchases and sales of investment options initiated by the
service shall be governed by the operating guidelines set out in Schedule &#147;L&#148;.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;For so long as Fidelity Retirement Plan Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> is offered,
Strategic Advisers&#146; authority with respect to Managed Assets shall begin when Fidelity has confirmed receipt
of an election In Good Order from an eligible Participant who has elected to participate in the
service (and in the case of plans or portions thereof transferring to Fidelity recordkeeping
services, at the conclusion of the Participant Recordkeeping Reconciliation Period). Strategic
Advisers&#146; authority with respect to
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Managed Assets shall end with respect to a Participant when (A)&nbsp;the Participant terminates his or
her election to participate in the Fidelity Retirement Plan Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> service; (B)&nbsp;Managed Assets
are withdrawn (through loan, withdrawal or distribution) or otherwise transferred out of the
Participant&#146;s account for any reason (but only to the extent of such withdrawal or transfer); (C)
the Participant&#146;s account is transferred to another plan not offering the service; (D)&nbsp;Strategic
Advisers receives notice from the Trustee or its agent of a Participant&#146;s death, after the Trustee
or its agent has been so notified; (E)&nbsp;Strategic Advisers notifies a Participant that the
Participant is no longer eligible for the service, or that it will no longer provide the service to
such Participant for any reason; (F)&nbsp;when the Plan&#146;s Named Fiduciary directs Strategic Advisers to
discontinue its service to any Participant (whether through termination of Strategic Advisers as
investment manager with respect to the Fidelity Retirement Plan Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> service, or otherwise); or
(G)&nbsp;when an affiliate of the Trustee ceases to provide recordkeeping services for the Plan. A
Participant&#146;s termination of his or her election to participate in the Service shall be effective
immediately after the Trustee confirms receipt of such election, provided that if confirmation is
received after market close and one or more exchange transactions initiated by Strategic Advisers
are pending for processing in the nightly cycle for such date, such exchanges shall be processed as
of the market close on such date.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;The Managed Assets shall be identified on the books and records of the Trust separately
from all other assets held by the Trustee under this Agreement. Strategic Advisers shall have the
duty and power to direct the Trustee and its affiliates as to the investment of Managed Assets
among available investment options, in accordance with governing investment guidelines, but shall
have no authority with respect to the exercise of shareholder rights such as voting, or other
rights that arise out of the Trust&#146;s ownership of certain securities, such as the right to
participate in bankruptcy or other litigation. The Trustee shall follow the direction of Strategic
Advisers or its agent regarding the investment and reinvestment of the Managed Assets. The Trustee
shall have no authority or responsibility to review, question or countermand any instruction
provided by Strategic Advisers to it, unless it has knowledge that by its action or failure to act,
it will be participating in or undertaking to conceal a breach of fiduciary duty by Strategic
Advisers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;The Trustee may execute such documents and powers of attorney as may be necessary to
authorize Strategic Advisers or its agents, to exercise the investment management duties of
Strategic Advisers.
</DIV>


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</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;It is acknowledged that the Strategic Advisers may appoint as its agent any
entity, including FIIOC, that is also used by the Trustee in performing its duties hereunder
without additional cost.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;Neither the Trustee nor its affiliates performing recordkeeping and
administrative services for the Plan shall have any obligation to provide any information
concerning an electing Participant to Strategic Advisers (including, without limitation, any
holdings of such Participant outside of the assets allocated to the Fidelity Retirement Plan
Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> service), provided, however, that the Trustee and such affiliates shall be obligated to
provide such data as will notify Strategic Advisers of an event terminating some or all of its
management responsibilities for electing Participants.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(j)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Collective Investment Funds Managed by the Trustee.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To the extent that the Committee selects as an investment option the Managed Income Portfolio II of
the Group Trust, the Sponsor hereby (A)&nbsp;acknowledges that it has received from the Trustee a copy
of the Group Trust, the Participation Agreement and the Declaration of Separate Fund for the
Managed Income Portfolio II, and (B)&nbsp;adopts the terms of the Group Trust, the Participation
Agreement and the Declaration of Separate Fund as part of this Agreement.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(k)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Trustee Powers.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Trustee shall have the following powers and authority:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;Subject to paragraphs (b)&nbsp;and (c)&nbsp;of this Section&nbsp;5, to sell, exchange, convey, transfer,
or otherwise dispose of any property held in the Trust, by private contract or at public auction.
No person dealing with the Trustee shall be bound to see to the application of the purchase money
or other property delivered to the Trustee or to inquire into the validity, expediency, or
propriety of any such sale or other disposition.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;To cause any securities or other property held as part of the Trust to be registered in
the Trustee&#146;s own name, in the name of one or more of its nominees, or in the Trustee&#146;s account
with the Depository Trust Company of New York and to hold any investments in bearer form, but the
books and records of the Trustee shall at all times show that all such investments are part of the
Trust.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;To keep that portion of the Trust in cash or cash balances as the Committee or
Administrator may, from time to time, deem to be in the best interest of the Trust.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;To make, execute, acknowledge, and deliver any and all documents of transfer or
conveyance and to carry out the powers herein granted.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient
liquidity to process Plan transactions in a timely fashion; provided that the cost of such
borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of
liquidity. The Sponsor acknowledges that it has received the disclosure on the Trustee&#146;s line of
credit program and credit allocation policy and a copy of the text of Prohibited Transaction Class
Exemption 2002-55 prior to executing this Agreement if applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;To settle, compromise, or submit to arbitration any claims, debts, or damages due to or
arising from the Trust; to commence or defend suits or legal or administrative proceedings; to
represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable
expenses arising from any such action, from the Trust if not paid by the Sponsor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;To employ legal, accounting, clerical, and other assistance as may be required in
carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation
from the Trust if not paid by the Sponsor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;To invest all or any part of the assets of the Trust in investment contracts and short
term investments (including interest bearing accounts with the Trustee or money market mutual funds
advised by affiliates of the Trustee) and in any collective investment trust or group trust,
including any collective investment trust or group trust maintained by the Trustee, which then
provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax
under Section 501(a) of the Code, or any comparable provisions of any future legislation that
amends, supplements, or supersedes those sections, provided that such collective investment trust
or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal
Revenue Service. The provisions of the document governing such collective investment trusts or
group trusts, as it may be amended from time to time, shall govern any investment therein and are
hereby made a part of this Trust Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)&nbsp;To do all other acts, although not specifically mentioned herein, as the Trustee may deem
necessary to carry out any of the foregoing powers and the purposes of the Trust.
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Section&nbsp;6.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Recordkeeping and Administrative Services to Be Performed.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(a)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>General.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Trustee shall perform those recordkeeping and administrative functions described in Schedule
&#147;A&#148; attached hereto. These recordkeeping and administrative functions shall be performed within
the framework of the Administrator&#146;s written directions regarding the Plan&#146;s provisions, guidelines
and interpretations.
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(b)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Accounts.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Trustee shall keep accurate accounts of all investments, receipts, disbursements, and other
transactions hereunder, and shall report the value of the assets held in the Trust as of each
Reporting Date. Within thirty (30)&nbsp;days following each Reporting Date or within sixty (60)&nbsp;days in
the case of a Reporting Date caused by the resignation or removal of the Trustee, or the
termination of this Agreement, the Trustee shall file with the Administrator a written account
setting forth all investments, receipts, disbursements, and other transactions effected by the
Trustee between the Reporting Date and the prior Reporting Date, and setting forth the value of the
Trust as of the Reporting Date. Except as otherwise required under ERISA, upon the expiration of
six (6)&nbsp;months from the date of filing such account, the Trustee shall have no liability or further
accountability to the Administrator with respect to the propriety of its acts or transactions shown
in such account (or any Participant-level report provided to a Participant), except with respect to
such acts or transactions as to which a written objection shall have been filed with the Trustee
within such six (6)&nbsp;month period; except to the extent that the Sponsor, Administrator or Committee
cannot reasonably be expected to have discovered any failure, omission or error in such accounting
after reviewing such account with reasonable care and diligence.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(c)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Inspection and Audit.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Prior to the termination of this Agreement, all records generated by the Trustee in accordance with
paragraphs (a)&nbsp;and (b), above, shall be open to inspection and audit by the Administrator or any
persons designated by the Administrator, during the Trustee&#146;s regular business hours. Upon the
resignation or removal of the Trustee or the termination of this Agreement, the Trustee shall
provide to the Sponsor, at no expense to the Sponsor, in the format regularly provided to the
Sponsor, a statement of each Participant&#146;s accounts as of the resignation, removal, or termination,
and the Trustee shall provide to the Sponsor or the Plan&#146;s new recordkeeper such further records as
may be reasonably requested, at the Sponsor&#146;s expense.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(d)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Notice of Plan Amendment.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Trustee&#146;s provision of the recordkeeping and administrative services set forth in this Section
6 shall be conditioned on the Sponsor delivering to the Trustee a copy of any amendment to the Plan
as soon as administratively feasible following the amendment&#146;s adoption and on the Administrator
providing the Trustee, on a timely basis, with all the information the Trustee deems necessary for
it to perform the recordkeeping and administrative services set forth herein, and such other
information as the Trustee may reasonably request.
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(e)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Returns, Reports and Information.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Except as set forth on Schedule &#147;A&#148;, the Administrator shall be responsible for the preparation and
filing of all returns, reports, and information required of the Trust or Plan by law. The Trustee
shall provide the Administrator with such information as the Administrator may reasonably request
to make these filings. The Administrator shall also be responsible for making any disclosures to
Participants required by law, except such disclosure as may be required under federal or state
truth-in-lending laws with regard to Participant loans, which shall be provided by the Trustee or
the Administrator, as applicable.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(f)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Standard of Care</B>.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Notwithstanding anything to the contrary in the Trust Agreement, the Trustee represents and
warrants that at all times during the terms of this Trust Agreement, the Trustee will fulfill its
obligations, including trustee and recordkeeping duties, in a manner consistent with the applicable
fiduciary responsibility provisions of ERISA.
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Section&nbsp;7.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Compensation and Expenses.</B></TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Sponsor shall pay to Trustee, within thirty (30)&nbsp;days of receipt of the Trustee&#146;s bill, the fees
for services in accordance with Schedule &#147;B&#148;. Fees for services are specifically outlined in
Schedule &#147;B&#148; and are based on all of the assumptions identified therein. The Trustee shall
maintain its fees for two (2)&nbsp;years; provided, however, in the event that the Plan characteristics
referenced in the assumptions outlined in Schedule &#147;B&#148; change significantly by either falling below
or exceeding current or projected levels, such fees shall be subject to revision. To reflect
increased operating costs, Trustee may once each calendar year, but not prior to July&nbsp;1, 2007,
amend Schedule &#147;B&#148; with the Sponsor&#146;s consent, which shall not be unreasonably withheld (taking
into account the Sponsor&#146;s fiduciary duties under ERISA to Participants) upon ninety (90)&nbsp;days
prior notice to the Sponsor. Such increases in operating costs are shared by all sponsors of plans
recordkept or trusteed by the Trustee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">All reasonable expenses of plan administration as shown on Schedule &#147;B&#148; attached hereto, as amended
from time to time, shall be a charge against and paid from the appropriate Participants&#146; accounts,
except to the extent such amounts are paid by the Sponsor in a timely manner.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">All expenses of the Trustee relating directly to the acquisition and disposition of investments
constituting part of the Trust, all taxes of any kind whatsoever that may be levied or assessed
under existing or future laws upon or in respect of the Trust or the income thereof, and any other
reasonable expenses of Plan administration as determined and directed by the Administrator, shall
be a charge against and paid from the appropriate Participants&#146; accounts.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->34<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Section&nbsp;8.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Directions and Indemnification.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(a)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Identity of Administrator and Named Fiduciary.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Trustee shall be fully protected in relying on the fact that the Named Fiduciary and the
Administrator under the Plan are the individuals or entities named as such above or such other
individuals or persons as the Sponsor may notify the Trustee in writing.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(b)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Directions from Administrator.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Whenever the Administrator provides a direction to the Trustee, the Trustee shall not be liable for
any loss or expense arising from the direction (i)&nbsp;if the direction is contained in a writing (or
is oral and immediately confirmed in a writing) signed by any individual whose name and signature
have been submitted (and not withdrawn) in writing to the Trustee by the Administrator in the form
attached hereto as Schedule &#147;D&#148;, and (ii)&nbsp;if the Trustee reasonably believes the signature of the
individual to be genuine, unless it is clear on the direction&#146;s face that the actions to be taken
under the direction would be prohibited by the fiduciary duty rules of Section 404(a) of ERISA or
would be contrary to the terms of this Agreement. For purposes of this Section, such direction may
also be made EDT or other electronic means in accordance with procedures agreed to by the
Administrator and the Trustee; provided, however, that the Trustee shall be fully protected in
relying on such direction as if it were a direction made in writing by the Administrator.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(c)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Directions from Committee.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Whenever the Committee or Sponsor provides a direction to the Trustee, the Trustee shall not be
liable for any loss or expense arising from the direction (i)&nbsp;if the direction is contained in a
writing (or is oral and immediately confirmed in a writing) signed by any individual whose name and
signature have been submitted (and not withdrawn) in writing to the Trustee by the Committee in the
form attached hereto as Schedule &#147;E&#148; and (ii)&nbsp;if the Trustee reasonably believes the signature of
the individual to be genuine, unless it is clear on the direction&#146;s face that the actions to be
taken under the direction would be prohibited by the fiduciary duty rules of Section 404(a) of
ERISA or would be contrary to the terms of this Agreement. Such direction may also be made via EDT
or other electronic means in accordance with procedures agreed to by the Committee and the Trustee;
provided, however, that the Trustee shall be fully protected in relying on such direction as if it
were a direction made in writing by the Committee.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->35<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(d)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Co-Fiduciary Liability.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In any other case, the Trustee shall not be liable for any loss or expense arising from any act or
omission of another fiduciary under the Plan except as provided in section 405(a) of ERISA.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(e)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Indemnification.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Sponsor and the Committee shall indemnify the Trustee against, and hold the Trustee harmless
from, Losses, that may be incurred by, imposed upon, or asserted against the Trustee by reason of
any claim, regulatory proceeding, or litigation arising from any act done or omitted to be done by
any individual or person with respect to the Plan or Trust, excepting only any and all Losses
arising solely from the Trustee&#146;s negligence, fraud, willful misconduct, bad faith, violation of
ERISA or breach of this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Anything hereinabove to the contrary notwithstanding, subject to the following paragraph, any
obligation of the Sponsor to indemnify and hold harmless the Trustee against Losses shall be
expressly conditioned on the Trustee giving prompt notice to the Sponsor of any such potential
liability and the Trustee giving the Sponsor an opportunity to defend or settle the same by counsel
selected by the Sponsor (with the consent of the Trustee). The Trustee shall promptly reimburse
the Sponsor to the extent costs of the Trustee&#146;s defense in any such lawsuit or claim where the
court or other tribunal of competent jurisdiction hearing such lawsuit or claim determines that the
Trustee materially breached this Agreement or committed an act or omission constituting negligence,
bad faith, fraud or willful misconduct or a violation of ERISA. The Trustee shall have the right
to retain its own counsel, in any such proceeding if it deems, in its reasonable judgment, its
interests and the Sponsor&#146;s to be sufficiently in conflict that they could not be represented by
the same counsel.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Trustee shall indemnify the Sponsor and the Committee against, and hold the Sponsor and the
Committee harmless from, any and all Losses that may be incurred by, imposed upon, or asserted
against the Sponsor by reason of any claim, regulatory proceeding, or litigation arising from
Trustee&#146;s negligence, fraud, willful misconduct, bad faith, a violation of ERISA or breach of this
Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Trustee shall also indemnify the Sponsor and the Committee against and hold the Sponsor
harmless from any and all such Losses that may be incurred by, imposed upon, or asserted against
the Sponsor solely as a result of i) any defects in the investment methodology embodied in the
target asset allocation or model portfolio provided through Fidelity PortfolioPlanner<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP>, except to
the extent that any such loss, damage, penalty, liability, cost or expense arises from information
provided by the Participant, the Sponsor or third parties; or ii) any prohibited transactions
resulting from the provision of Fidelity PortfolioPlanner<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP><SUP style="font-size: 85%; vertical-align: text-top"> </SUP>by the Trustee.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->36<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition to any other indemnification provided to Trustee by Sponsor under this Agreement,
Sponsor shall indemnify Trustee against, and hold Trustee harmless from, any and all Losses that
may be incurred by, imposed upon, or asserted against Trustee by reason of any claim, regulatory
proceeding, or litigation arising from Sponsor&#146;s failure to provide, or delay in providing,
information to Trustee necessary to effectuate the transfer of funds pursuant to the Auto-Debit
service in Section 18(h) or any deficiency or lack of funds in any account from which Sponsor has
directed Trustee to deduct payments under that section.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Anything hereinabove to the contrary notwithstanding, any obligation of the Trustee to indemnify
and hold harmless the Sponsor or any member of the Committee against any Losses shall be expressly
conditioned on the Sponsor or Committee giving prompt notice to the Trustee of any potential
liability and the Sponsor or Committee giving the Trustee an opportunity to defend or settle the
same by counsel selected by the Trustee (with the consent of the Sponsor or Committee). The Sponsor
or Committee shall promptly reimburse the Trustee to the extent costs of the Sponsor or Committees&#146;
defense in any such lawsuit or claim where the court or other tribunal of competent jurisdiction
hearing such lawsuit or claim determines that the Sponsor or Committee materially breached this
Agreement or committed an act or omission constituting negligence, bad faith, fraud or willful
misconduct or a violation of ERISA. The Sponsor or Committee shall have the right to retain its
own counsel at its expense in any such proceeding if it deems, in its reasonable judgment, its
interests and the Trustee&#146;s to be sufficiently in conflict that they could not be represented by
the same counsel.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(f)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Survival.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The provisions of this Section&nbsp;8 shall survive the termination of this Agreement.
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Section&nbsp;9.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Resignation or Removal of Trustee and Termination.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(a)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Resignation and Removal.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Trustee may resign at any time in accordance with the notice provisions set forth below. The
Sponsor may remove the Trustee at any time in accordance with the notice provisions set forth
below.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->37<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(b)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Termination.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This Agreement may be terminated in full, or with respect to only a portion of the Plan (i.e., a
&#147;partial deconversion&#148;) at any time by the Sponsor upon prior written notice to the Trustee in
accordance with the notice provisions set forth below.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(c)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Notice Period.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the event either party desires to terminate this Agreement or any Services hereunder, the party
shall provide at least sixty (60)&nbsp;days prior written notice of the termination date to the other
party; provided, however, that the receiving party may agree, in writing, to a shorter notice
period.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(d)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Transition Assistance.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the event of termination of this Agreement, if requested by Sponsor, the Trustee shall assist
the Sponsor in developing a plan for the orderly transition of the Plan data, cash and assets then
constituting the Trust and services provided by the Trustee hereunder to the Sponsor or its
designee. The Trustee shall provide such assistance for a period not extending beyond sixty (60)
days from the termination date of this Agreement. The Trustee shall provide to the Sponsor, or to
any person designated by the Sponsor, at a mutually agreeable time, one file of the Plan data
prepared and maintained by the Trustee in the ordinary course of business, in the Trustee&#146;s format.
The Trustee may provide other or additional transition assistance as mutually determined for
additional fees, which shall be due and payable by the Sponsor prior to any termination of this
Agreement.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(e)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Failure to Appoint Successor.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If, by the termination date, the Sponsor has not notified the Trustee in writing as to the
individual or entity to which the assets and cash are to be transferred and delivered, the Trustee
may bring an appropriate action or proceeding for leave to deposit the assets and cash in a court
of competent jurisdiction. The Trustee shall be reimbursed by the Sponsor for all costs and
expenses of the action or proceeding including, without limitation, reasonable attorneys&#146; fees and
disbursements.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->38<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Section&nbsp;10.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Successor Trustee.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(a)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Appointment.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If the office of Trustee becomes vacant for any reason, the Sponsor may in writing appoint a
successor trustee under this Agreement. The successor trustee shall have all of the rights,
powers, privileges, obligations, duties, liabilities, and immunities granted to the Trustee under
this Agreement. The successor trustee and predecessor trustee shall not be liable for the acts or
omissions of the other with respect to the Trust.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(b)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Acceptance.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As of the date the successor trustee accepts its appointment under this Agreement, title to and
possession of the Trust assets shall immediately vest in the successor trustee without any further
action on the part of the predecessor trustee, except as may be required to evidence such
transition. The predecessor trustee shall execute all instruments and do all acts that may be
reasonably necessary and requested in writing by the Sponsor or the successor trustee to vest title
to all Trust assets in the successor trustee or to deliver all Trust assets to the successor
trustee.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(c)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Corporate Action.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Any successor to the Trustee or successor trustee, either through sale or transfer of the business
or trust department of the Trustee or successor trustee, or through reorganization, consolidation,
or merger, or any similar transaction of either the Trustee or successor trustee, shall, upon
consummation of the transaction, become the successor trustee under this Agreement.
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Section&nbsp;11.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Resignation, Removal, and Termination Notices.</B></TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">All notices of resignation, removal, or termination under this Agreement must be in writing and
mailed to the party to which the notice is being given by certified or registered mail, return
receipt requested, to the Sponsor c/o Director, Benefits and HRIS Operations, and with copy to
General Counsel, Expedia, Inc., 3150 139<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> Avenue SE, Bellevue, Washington 98005, and to
the Trustee c/o FESCo Business Compliance, Contracts Administration, 82 Devonshire Street, MM3H,
Boston, Massachusetts 02109, or to such other addresses as the parties have notified each other of
in the foregoing manner.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->39<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Section&nbsp;12.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Duration.</B></TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This Trust shall continue in effect without limit as to time, subject, however, to the provisions
of this Agreement relating to amendment, modification, and termination thereof.
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Section&nbsp;13.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Amendment or Modification.</B></TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This Agreement may be amended or modified at any time and from time to time only by an instrument
executed by both the Sponsor and the Trustee. The individuals authorized to sign such instrument
shall be those authorized by the Sponsor on Schedule &#147;E.&#148;
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Section&nbsp;14.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Electronic Services.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Trustee may provide communications and Electronic Services via electronic media,
including, but not limited to NetBenefits, eWorkplace and Fidelity Plan Sponsor WebStation. The
Sponsor agrees to use such Electronic Services only in the course of reasonable administration of
or participation in the Plan and to keep confidential and not alter, publish, copy, broadcast,
retransmit, reproduce, frame-in, link to, commercially exploit or otherwise redisseminate the
Electronic Services, any content associated therewith, or any portion thereof (including, without
limitation, any trademarks and service marks associated therewith), without the written consent of
the Trustee. Notwithstanding the foregoing, the Trustee acknowledges that certain Electronic
Services may, by their nature, be intended for non-commercial, personal use by Participants or
their beneficiaries, with respect to their participation in the Plan, or for their other retirement
or employee benefit planning purposes, and certain content may be intended or permitted to be
modified by the Sponsor in connection with the administration of the Plan. In such cases, the
Trustee will notify the Sponsor of such fact, and any requirements or guidelines associated with
such usage or modification no later than the time of initial delivery of such Electronic Services.
To the extent permission is granted to make Electronic Services available to administrative
personnel designated by the Sponsor, it shall be the responsibility of the Sponsor to keep the
Trustee informed as to which of the Sponsor personnel are authorized to have such access. Except
to the extent otherwise specifically agreed by the parties, the Trustee reserves the right, upon
notice when reasonably feasible, to modify or discontinue Electronic Services, or any portion
thereof, at any time.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->40<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Without limiting the responsibilities of the Trustee or the rights of the Sponsor stated
elsewhere in this Agreement, Electronic Services shall be provided to the Sponsor without
acceptance of legal liability related to or arising out of the electronic nature of the delivery or
provision of such Services. To the extent that any Electronic Services utilize Internet services
to transport data or communications, the Trustee will take, and the Sponsor agrees to follow,
reasonable security precautions. However, the Trustee disclaims any liability for interception of
any such data or communications. The Trustee reserves the right not to accept data or
communications transmitted electronically or via electronic media by the Sponsor or a third party
if it determines that the method of delivery does not provide adequate data security, or if it is
not administratively feasible for the Trustee to use the data security provided. The Trustee shall
not be responsible for, and makes no warranties regarding access, speed or availability of Internet
or network services, or any other service required for electronic communication, nor does the
Trustee make any warranties, express or implied, and specifically disclaims all warranties of
merchantability, fitness for a particular purpose, or non-infringement. The Trustee shall not be
responsible for any loss or damage related to or resulting from any changes or modifications to the
Electronic Services made in violation of this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The Sponsor acknowledges that certain web sites through which the Electronic Services are
accessed may be protected by passwords or require a login and the Sponsor agrees that neither the
Sponsor nor, where applicable, Participants, will obtain or attempt to obtain unauthorized access
to such Services or to any other protected materials or information, through any means not
intentionally made available by the Trustee for the specific use of the Sponsor. To the extent
that a personal identification number (PIN)&nbsp;is necessary for access to the Electronic Services, the
Sponsor and/or its Participants, as the case may be, are solely responsible for all activities that
occur in connection with such PINs.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;The Trustee will provide to Participants the FullView<SUP style="font-size: 85%; vertical-align: text-top">SM</SUP> service via
NetBenefits, through which Participants may elect to consolidate and manage any retirement account
information available through NetBenefits as well as External Account Information. To the extent
not provided by the Trustee or its affiliates, the data aggregation service will be provided by
Yodlee.com, Inc. or such other independent provider as the Trustee may select, pursuant to a
contract that requires the provider to take appropriate steps to protect the privacy and
confidentiality of information furnished by users of the service. The Sponsor acknowledges that
Participants who elect to use FullView<SUP style="font-size: 85%; vertical-align: text-top">SM</SUP> must provide passwords and PINs to the provider
of data aggregation services. The Trustee will use External Account Information to furnish and
support FullView<SUP style="font-size: 85%; vertical-align: text-top">SM</SUP> or other services provided pursuant to this Agreement, and as
otherwise directed by the Participant. The Trustee will not furnish External Account Information
to any third party, except pursuant to subpoena or other applicable law. The Sponsor agrees that
the information accumulated through FullView<SUP style="font-size: 85%; vertical-align: text-top">SM</SUP> shall not be made available to the
Sponsor, provided,
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->41<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">however, that the Trustee shall provide to the Sponsor, upon request, aggregate usage data
that contains no personally identifiable information.
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Section&nbsp;15.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Assignment.</B></TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This Agreement, and any of its rights and obligations hereunder, may not be assigned by any party
without the prior written consent of the other party(ies), and such consent may be withheld in any
party&#146;s sole discretion. Notwithstanding the foregoing, Trustee may assign this Agreement in whole
or in part, and any of its rights and obligations hereunder, to a subsidiary or affiliate of
Trustee without consent of the Sponsor. All provisions in this Agreement shall extend to and be
binding upon the parties hereto and their respective successors and permitted assigns.
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Section&nbsp;16.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Force Majeure.</B></TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">No party shall be deemed in default of this Agreement to the extent that any delay or failure in
performance of its obligation(s) results, without its fault or negligence, from any cause beyond
its reasonable control, such as acts of God, acts of civil or military authority, embargoes,
epidemics, war, riots, insurrections, fires, explosions, earthquakes, floods, unusually severe
weather conditions, power outages or strikes. This clause shall not excuse any of the parties to
the Agreement from any liability which results from failure to have in place reasonable disaster
recovery and safeguarding plans adequate for protection of all data each of the parties to the
Agreement are responsible for maintaining for the Plan.
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Section&nbsp;17.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Confidentiality.</B></TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Both parties to this Agreement recognize that in the course of implementing and providing the
services described herein, each party may disclose to the other Confidential Information. All such
Confidential Information, individually and collectively, and other proprietary information
disclosed by either party shall remain the sole property of the party disclosing the same, and the
receiving party shall have no interest or rights with respect thereto if so designated by the
disclosing party to the receiving party. Each party agrees to maintain all such Confidential
Information in trust and confidence to the same extent that it protects its own proprietary
information, and not to disclose such Confidential Information to any
third party without the written consent of the other party. Each party further agrees to take all
reasonable
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->42<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">precautions to prevent any unauthorized disclosure of Confidential Information. In
addition, each party agrees not to disclose or make public to anyone, in any manner, the terms of
this Agreement, except as required by law, without the prior written consent of the other party.
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Section&nbsp;18.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>General.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(a)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Performance by Trustee, its Agents or Affiliates.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Sponsor acknowledges and authorizes that the services to be provided under this Agreement shall
be provided by the Trustee, its agents or affiliates, including but not limited to FIIOC, FBSLLC,
or the successor to any of them, and that certain of such services may be provided pursuant to one
or more separate contractual agreements or relationships.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(b)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Entire Agreement.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This Agreement together with the schedules attached hereto, which are hereby incorporated by
reference herein, contains all of the terms agreed upon between the parties with respect to the
subject matter hereof.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(c)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Waiver.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">No waiver by either party of any failure or refusal to comply with an obligation hereunder shall be
deemed a waiver of any other obligation hereunder or any subsequent failure or refusal to comply
with any other obligation hereunder.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(d)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Successors and Assigns.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The stipulations in this Agreement shall inure to the benefit of, and shall bind, the successors
and assigns of the respective parties.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(e)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Partial Invalidity.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If any term or provision of this Agreement or the application thereof to any person or
circumstances shall, to any extent, be invalid or unenforceable, the remainder of this Agreement,
or the application of such term or provision to persons or circumstances other than those as to
which it is held invalid or unenforceable, shall not be affected thereby, and each term and
provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->43<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(f)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Section&nbsp;Headings.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The headings of the various sections and subsections of this Agreement have been inserted only for
the purposes of convenience and are not part of this Agreement and shall not be deemed in any
manner to modify, explain, expand or restrict any of the provisions of this Agreement.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(g)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Communications.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For any Participant communications which are prepared solely by the Sponsor, the Sponsor represents
that such communications will include all necessary information required by the regulations under
ERISA &#167;404(c). The Trustee shall request and the Sponsor shall provide all information regarding
the content of the communications necessary to allow the Trustee to meet its obligations under this
Agreement. The Trustee shall have no liability for any loss resulting from the Sponsor&#146;s failure
to communicate in a manner that would afford the fiduciaries protection under the ERISA &#167;404(c)
regulations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For any Participant communications which are furnished solely by the Sponsor, whether prepared by
the Sponsor or the Trustee, the Sponsor represents that such communications will be furnished to
all Participants and beneficiaries in a manner that is consistent with ERISA including, but not
limited to, any applicable provisions added by the Sarbanes-Oxley Act or otherwise required by law
to afford fiduciaries protection under the ERISA &#167;404(c) regulations. For any Participant
communications which are furnished in part by the Sponsor, whether prepared by the Sponsor or the
Trustee, the Sponsor represents that such communications will be furnished to all designated
Participants and beneficiaries in a manner that is consistent with ERISA including, but not limited
to, any applicable provisions added by the Sarbanes-Oxley Act or otherwise required by law to
afford fiduciaries protection under the ERISA &#167;404(c) regulations. Communications may be furnished
electronically as long as such delivery is consistent with ERISA regulations regarding electronic
transmission (&#167; 2501.104b-1) and any future applicable guidance. The Trustee and its affiliates
shall have no liability for any Losses resulting from failure of the Sponsor to furnish any
communications in a manner consistent with ERISA, the Sarbanes-Oxley Act or other applicable law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Sponsor shall indemnify the Trustee against, and hold the Trustee harmless from, Losses that
may be incurred by, imposed upon, or asserted against the Trustee by reason of any claim,
regulatory proceeding, or litigation arising from the content and furnishing of materials prepared
solely by the Sponsor, or the lack thereof, or arising from the furnishing of materials by the
Sponsor, or the lack thereof.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->44<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(h)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Auto-Debit.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Notwithstanding anything herein to the contrary, Sponsor hereby directs Trustee to request and
receive payments in connection with contributions, loan repayments, and other payments made to the
Plan through the ACH via an electronic funds transfer from Sponsor&#146;s bank account as the Sponsor
shall direct Trustee in writing. Sponsor agrees that it shall be solely responsible for assuring
that Trustee is in receipt of the information necessary to effectuate the transfer of funds
pursuant to this paragraph and that the bank account described under this paragraph or any
subsequent directions to the Trustee contains sufficient funds to satisfy Trustee&#146;s ACH request.
Funds received via an electronic funds transfer will be credited to Participant&#146;s accounts the day
they are received by Trustee, if received prior to the close of the NYSE&#146;s business day.
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Section&nbsp;19.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Data Protection.</B></TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In order to fulfill its obligations under this Agreement, the Trustee may receive personal data,
including but not limited to, compensation, benefits, tax, marital/family status and other similar
information, about Participants (&#147;Personal Data&#148;). With respect to Personal Data it receives, the
Trustee agrees to (i)&nbsp;safeguard Personal Data in accordance with its privacy policy, and (ii)
exercise the same standard of care in safeguarding such Personal Data that it uses to protect the
personal data of its own employees. Notwithstanding the foregoing, the Sponsor may monitor the
Trustee&#146;s interactions with Participants for the purpose of evaluating Trustee&#146;s services.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Sponsor hereby authorizes the Trustee to provide the Sponsor&#146;s employees with information about
comprehensive financial planning services, including but not limited to savings accumulation,
financial planning and services, guidance and retirement income management (portions of which may
be provided by FBSLLC or another affiliate of Trustee). Such programs may include print
communication material, email, employee workshops and/or outbound informational phone calls.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Sponsor acknowledges that as part of this program, employees may provide consent to release
their individual Plan data to the Trustee or its affiliates and may also consent to additional
Fidelity services.
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Section&nbsp;20.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Governing Law.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(a)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Massachusetts Law Controls.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Except as provided to the contrary hereunder, this Agreement is being made in the Commonwealth of
Massachusetts, and the Trust shall be administered as a Massachusetts trust, and the validity,
construction, effect, and administration of this Agreement shall be governed by and interpreted in
accordance with the laws of the Commonwealth of Massachusetts, except to the extent those laws are
superseded under section 514 of ERISA.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(b)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Trust Agreement Controls.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Trustee is not a party to the Plan, and in the event of any conflict between the provisions of
the Plan and the provisions of this Agreement, the provisions of this Agreement shall control.
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Section&nbsp;21.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Plan Qualification.</B></TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Plan is intended to be qualified under section 401(a) of the Code and the Trust established
hereunder is intended to be tax-exempt under section 501(a) of the Code. The Sponsor represents
that to the extent Participants are able to instruct the investment of their account, the Plan is
intended to constitute a plan described in section 404(c) of ERISA and Title 29 of the Code of
Federal Regulations Section&nbsp;2550.404c-1. A confirmation of the Plan&#146;s current qualified status is
attached hereto as Schedule &#147;F,&#148; and the Sponsor shall provide proof of the Plan&#146;s continued
qualification upon request by the Trustee. The Sponsor has the sole responsibility for ensuring
the Plan&#146;s qualified status and full compliance with the applicable requirements of ERISA. The
Sponsor hereby certifies that it has furnished to the Trustee a complete copy of the Plan and all
amendments thereto in effect as of the date of this Agreement. The Trustee acknowledges that the
Plan is intended to be subject to Section 404(c) of ERISA. Notwithstanding any provision in this
paragraph to the contrary, if the Trustee receives any investment direction that appears to the
Trustee to be incomplete or unclear, the Trustee shall not be required to act on such instructions,
except that the Trustee shall invest the applicable funds in the investment fund specified by the
Committee on Schedule &#147;C&#148;.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>IN WITNESS WHEREOF</B>, the parties hereto have caused this Agreement to be executed by their duly
authorized officers as of the day and year first above written.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->46<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" colspan="3"><B>EXPEDIA, INC.</B></TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>By:</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Name:</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Title:</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Date:</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left"><B>FIDELITY MANAGEMENT TRUST COMPANY</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>By:</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;FMTC Authorized Signatory</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Name:</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Date:</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->47<!-- /Folio -->
</DIV>


<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>SCHEDULES</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE &#147;A&#148; &#151; </B><B><I>Administrative Services</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Administration</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">*</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Establishment and maintenance of Participant account and election percentages.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">*</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Maintenance of the Plan investment options set forth on Schedule &#147;C.&#148;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">*</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Maintenance of the money classifications set forth in the Plan Administration Manual.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">*</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Trustee will provide the recordkeeping and administrative services set forth on this
Schedule &#147;A&#148; or as otherwise agreed to in writing (or by means of a secure electronic medium)
between Sponsor and Trustee. The Trustee may unilaterally add or enhance services, provided
there is no impact on the fees set forth in Schedule &#147;B.&#148;</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>A) Participant Services</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Participant service representatives are available each business day from 8:30
a.m. ET &#151; 8:00 p.m. in the Participant&#146;s time zone in the continental United States to
provide toll free telephone service for Participant inquiries and transactions.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Through the automated voice response system and on-line account access via the
world wide web, Participants also have virtually 24 hour account inquiry and
transaction capabilities.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For security purposes, all calls are recorded. In addition, several levels of
security are available including the verification of a PIN or such other personal
identifier as may be agreed to from time to time by the Sponsor and the Trustee.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The following services are available via the telephone or such other electronic
means as may be agreed upon from time to time by the Sponsor and the Trustee:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Enroll new Participants. Confirmation of enrollment will be provided
on-line or if requested, by mail (generally within five (5)&nbsp;calendar days of
the request).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provide Plan investment option information.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provide and maintain information and explanations about Plan provisions.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Respond to requests for literature.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Allow Participants to change their deferral and after-tax percentages and
establish/change catch-up contributions, if applicable. Provide updates via
EDT for the Sponsor to apply to its payrolls accordingly.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Maintain and process changes to Participants&#146; contribution allocations for
all money sources.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Process exchanges (transfers)&nbsp;between investment options on a daily basis.</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->48<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Process in-service withdrawals, hardship withdrawals, and full distributions
as directed by the Sponsor, in accordance with the procedures set forth in the
Plan Administration Manual.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Consult with Participants on various loan scenarios and process loan
requests (including loans for the purchase of a primary residence, if
applicable) as directed by the Sponsor, in accordance with procedures set forth
in the Plan Administration Manual.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>B) Plan Accounting</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Process consolidated payroll contributions according to the Sponsor&#146;s payroll
frequency via EDT, consolidated magnetic tape or diskette. The data format will be
provided by Trustee.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Maintain and update employee data necessary to support Plan administration.
The data will be submitted according to payroll frequency.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provide daily Plan and Participant level accounting for all Plan investment
options.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provide daily Plan and Participant level accounting for all money
classifications for the Plan.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Audit and reconcile the Plan and Participant accounts daily.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Reconcile and process Participant withdrawal requests and distributions as
approved and directed by the Sponsor. All requests are paid based on the current
market values of Participants&#146; accounts, not advanced or estimated values. A
distribution report will accompany each check.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Track individual Participant loans; process loan withdrawals; re-invest loan
repayments; and prepare and deliver comprehensive reports to the Sponsor to assist in
the administration of Participant loans.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Maintain and process changes to Participants&#146; deferral percentage and
prospective and existing investment mix elections.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>C) Participant Reporting</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provide confirmation to Participants of all Participant initiated transactions
either online or via the mail. Online confirms are generated upon submission of a
transaction and mail confirms are available by mail within three to five calendar days
of the transaction.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provide Participants with opportunity to generate electronic statements via
NetBenefits for activity for the requested time period. Upon Participant request,
Fidelity will provide paper statements to the Participant via first class mail.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provide Participants with required Code Section 402(f) notification for
distributions from the Plan. This notice advises Participants of the tax consequences
of their Plan distributions.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->49<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provide Participants with required Code Section&nbsp;411(a)(11) notification for
distributions from the Plan. This notice advises Participants of the normal and
optional forms of payment of their Plan distributions.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>D) Plan Reporting</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Prepare, reconcile and deliver a monthly Trial Balance Report presenting all
money classes and investments. This report is based on the market value as of the last
business day of the month. The report will be delivered not later than twenty (20)
calendar days after the end of each month in the absence of unusual circumstances.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>E) Government Reporting</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Process year-end tax reports for Participants &#151; Forms 1099-R, as well as
financial reporting to assist in the preparation of Form&nbsp;5500.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>F) Communication &#038; Education Services</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Design, produce and distribute a customized comprehensive communications
program for employees. The program may include multimedia informational materials,
investment education and planning materials, access to Fidelity&#146;s homepage on the
internet and STAGES magazine. Additional fees for such services may apply as mutually
agreed upon between Sponsor and Trustee.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provide Fidelity PortfolioPlanner<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> an internet-based educational service for
Participants that generates target asset allocations and model portfolios customized to
investment options in the Plan based upon methodology provided by Strategic Advisers,
Inc., an affiliate of the Trustee. The Sponsor acknowledges that it has received the
ADV Part&nbsp;II for Strategic Advisers, Inc. more than 48 hours prior to executing the
Trust agreement.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>G) Other</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Non-Discrimination Testing</U>: Perform non-discrimination limitation
testing upon request. In order to obtain this service, the client shall be required to
provide the information identified in the Fidelity Discrimination Testing Package
Guidelines. Any fees and restrictions associated with this testing service shall be
addressed in such guidelines.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Plan Sponsor Webstation</U>: The Fidelity Participant Recordkeeping System
is available on-line to the Sponsor via the Plan Sponsor Webstation. PSW is a
graphical, Windows-based application that provides current plan and Participant-level
information, including indicative data, account balances, activity and history. The
Sponsor agrees that PSW access will not be granted to third parties without the prior
consent of the Trustee.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Change of Address by Telephone</U>: The Trustee shall allow terminated and
retired Participants to make address changes via Fidelity&#146;s toll-free telephone
service.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Roll-In Processing.</U> The Trustee shall process the qualification of
rollover contributions to the Trust. The procedures for qualifying a rollover are
directed by the Sponsor and the Trustee shall accept or deny each rollover based upon
the Plan&#146;s written criteria and any written guidelines provided by the Sponsor and
documented in the Plan Administration Manual.
</TD>
</TR>
</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->50<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Requests that do not meet the specified criteria will be returned to the Participant
with further explanation as to why the request cannot be processed. If the Sponsor
or the Trustee determine that a request is not a valid rollover, the full amount of
the requested rollover will be distributed to the Participant.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Minimum Required Distributions</U>: Monitor and process minimum required
distribution (&#147;MRD&#148;) amounts as follows: the Trustee shall notify the MRD Participant
and, upon notification from the MRD Participant, shall use the MRD Participant&#146;s
information to process their distribution. If the MRD Participant has terminated
employment and does not respond to the Trustee&#146;s notification, the Sponsor hereby
directs the Trustee to automatically begin the required distribution for the MRD
Participant. In the case of any other MRD Participant who does not respond to the
Trustee&#146;s notification, the Trustee shall not proceed with the distribution.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">6</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Qualified Domestic Relations Order Processing</U>: The Trustee will
provide Qualified Domestic Relations Order support by supplying interested parties with
plan and benefit information, suspending payments upon notification that a domestic
relations order has been submitted, and executing all administrative action required by
that order after it has been qualified by the Administrator.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="38%">&nbsp;</TD>
    <TD width="19%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="38%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left"><B>EXPEDIA, INC.</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left"><B>FIDELITY MANAGEMENT TRUST COMPANY</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Date
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">FMTC Authorized Signatory&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->51<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE &#147;B&#148; &#151; </B><B><I>Fee Schedule</I></B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Annual Participant Fee:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$3.00 per Participant*, billed and payable quarterly.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Loan Fee:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Establishment fee of $100.00 per loan account; annual fee of $15.00 per loan account.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Minimum Required Distribution:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$25.00 per Participant per MRD Withdrawal.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">In-Service Withdrawals:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$20.00 per withdrawal.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Return of Excess Contribution Fee:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$25.00 per Participant, one-time charge per calculation and check generation.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Non-Discrimination Testing:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$3,200 fee annually.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Non-Fidelity Mutual Funds:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fees paid directly to Fidelity Investments Institutional Operations Company, Inc. (FIIOC)&nbsp;or
its affiliates by Non-Fidelity Mutual Fund vendors shall be posted and updated quarterly on
Plan Sponsor Webstation at <U>http://psw.fidelity.com</U> or a successor site.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Self Directed Brokerage:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U>Fidelity BrokerageLink Plan Related Account Fee:</U></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Annual Account Fee of $100 per account within each plan per year. To be calculated and
deducted quarterly from the SPO if sufficient funds are available in the SPO. If there are
insufficient funds in the SPO, fees shall be deducted from the BrokerageLink Core Account.
Fidelity BrokerageLink Plan account minimum initial investment is $2,500; subsequent
transfer minimum is $1,000. Brokerage fees and commissions for individual trades will be
charged in accordance with a separate commission schedule.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Signature Ready 5500:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The fee is $1,000 per 5500 if all required information is submitted within 5<FONT style="font-size: 70%"><SUP>1</SUP></FONT>/<FONT style="font-size: 60%">2</FONT> months
following the Plan&#146;s year-end. If all required</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->52<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">information is not received until after 5<FONT style="font-size: 70%"><SUP>1</SUP></FONT>/<FONT style="font-size: 60%">2</FONT>
months following the Plan&#146;s year-end, there
will be an <U>additional</U> $1,000 late
processing charge per Plan affected. Any
revisions requested by the Plan Sponsor after
Fidelity has initially prepared and submitted
the Form&nbsp;5500 to the Plan Sponsor will be
processed at a rate of $100 per hour.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">DRO Qualification:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The &#147;standard&#148; Order review fees are as follows: $300 for
the review of unaltered Orders generated via Fidelity&#146;s QDRO Center website, or
$1,200 for the review of Orders not generated via Fidelity&#146;s QDRO Center
website, or for Orders generated via Fidelity&#146;s QDRO Center website but then
subsequently altered. A &#147;standard&#148; DRO is an order that references one defined
contribution plan only. The fees for &#147;complex&#148; Orders are as follows: $900 for
the review of unaltered Orders generated via Fidelity&#146;s QDRO Center website, or
$1,800 for the review of Orders not generated via Fidelity&#146;s QDRO Center
website, or for Orders generated via Fidelity&#146;s QDRO Center website but then
subsequently altered. A &#147;complex&#148; Order is an Order that references a defined
benefit plan or multiple plans (defined benefit and/or defined contribution, in
any combination). Any revisions to these fees will be reflected in an updated
Service Authorization Agreement for the DRO qualification service which will be
provided by the Trustee to the Sponsor for execution.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Fidelity Retirement Plan Manager:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The fees for Fidelity Retirement Plan Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> are set forth in the Investment
Management Agreement set forth as Schedule &#147;P&#148; hereto.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Unless paid by the Sponsor or deducted from the Plan pursuant to alternative, valid
direction from the Plan&#146;s Named Fiduciary, the quarterly fees for Fidelity Retirement Plan
Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> applicable to each Participant will be calculated, based on a Participant&#146;s daily
balances for all days not previously billed, generally on the 25<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> day (or next
available Business Day) of the final month of the Participant statement cycle quarter. The
Trustee shall redeem investments in the amount of such fee pro rata from the investment
options in the electing Participant&#146;s Plan account</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->53<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">on the Business Day following the fee calculation. This amount will be noted on the
Participant&#146;s statement. In the event a Participant&#146;s participation in the service is
terminated before the end of a quarter, the fee will be prorated based on the number of
days the account was managed during the quarter. Failure to deduct fees shall not
constitute a fee waiver.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Other Fees: separate charges may apply for extraordinary expenses resulting from large numbers
of simultaneous manual transactions, from errors not caused by Fidelity, reports not
contemplated in this Agreement, corporate actions, or the provision of communications materials
in hard copy which are also accessible to participants via electronic services in the event that
the provision of such material in hard copy would result in an additional expense deemed to be
material. The Administrator may withdraw reasonable administrative fees from the Trust by
written direction to Fidelity.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">*</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This fee will be imposed pro rata for each calendar quarter, or any part thereof, that it
remains necessary to keep a Participant&#146;s account(s) as part of the Plan&#146;s records, e.g.,
vested, deferred, forfeiture, top-heavy and terminated Participants who must remain on file
through calendar year-end for 1099-R reporting purposes.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Stock Administration Fee</B></U><B>:</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To the extent that assets are invested in Sponsor Stock, 0.15% (15 basis points) of such assets in
the Trust payable pro rata quarterly on the basis of such assets as of the calendar quarter&#146;s last
valuation date, but no less than $20,000 nor more than $50,000 per year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To the extent that assets are invested in IAC Stock, 0.10% (10 basis points) of such assets in the
Trust payable pro rata quarterly on the basis of such assets as of the calendar quarter&#146;s last
valuation date, but no less than $10,000 nor more than $35,000 per year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Note</U>: These fees have been negotiated and accepted based on the following Plan
characteristics: current plan assets of $ 57&nbsp;million, current participation of 4400
Participants, current stock assets of $ 1&nbsp;million, total Fidelity actively managed Mutual Fund
assets of $ 45.7&nbsp;million, total Fidelity non-actively managed Mutual Fund assets of $ 5
million, and total Non-Fidelity Mutual Fund assets of $ 5.3&nbsp;million. Fees will be subject to
revision if these Plan characteristics change significantly by either falling below or exceeding
current or projected levels. Fees also have been based on the use of up to 28 investment options,
and such fees will be subject to revision if additional investment options are added
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->54<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="38%">&nbsp;</TD>
    <TD width="19%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="38%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left"><B>EXPEDIA, INC.</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left"><B>FIDELITY MANAGEMENT TRUST COMPANY</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Date
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">FMTC Authorized Signatory&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->55<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE &#147;C&#148; &#151; </B><B><I>Investment Options</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In accordance with Section&nbsp;5(b), the Committee hereby directs the Trustee that Participants&#146;
individual accounts may be invested in the following investment options:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fidelity <I>Contrafund</I><SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fidelity Equity-Income Fund</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fidelity Investment Grade Bond Fund</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fidelity Blue Chip Growth Fund</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fidelity Low-Priced Stock Fund</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fidelity Diversified International Fund</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fidelity Dividend Growth Fund</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fidelity Mid-Cap Stock Fund</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fidelity Freedom Income Fund<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fidelity Freedom 2000 Fund<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fidelity Freedom 2005 Fund<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fidelity Freedom 2010 Fund<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fidelity Freedom 2015 Fund<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fidelity Freedom 2020 Fund<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fidelity Freedom 2025 Fund<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fidelity Freedom 2030 Fund<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fidelity Freedom 2035 Fund<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fidelity Freedom 2040 Fund<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Spartan<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> U.S. Equity Index Fund</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Managed Income Portfolio II</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>BrokerageLink</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Morgan Stanley Institutional Fund, Inc. Small Company Growth Portfolio &#151; Class&nbsp;B</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Lord Abbett Developing Growth Fund, Inc. &#151; Class&nbsp;A</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Royce Low-Priced Stock Fund &#151; Investment Class</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Dodge &#038; Cox International Stock Fund</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Goldman Sachs Small Cap Value Fund &#151; Institutional Class</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>IAC Stock Fund (frozen to incoming contributions and exchanges in )</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Expedia, Inc. Stock Fund</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->56<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee hereby directs that the investment option referred to in Section 5(c) , Section
5(e)(vi)(B)(5) and Section&nbsp;5(f)(vi)(B)(5) shall be the Fidelity Freedom Income Fund.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left"><B>EXPEDIA, INC.</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Date</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->57<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE &#147;D&#148; &#151; </B><B><I>Authorized Signers (Administrator)</I></B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>&#091;Sponsor&#146;s Letterhead&#093;</B>

</DIV>

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>&#091;Date&#093;</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Ms.&nbsp;Joann E. Flaminio<BR>
FESCo Business Compliance<BR>
Contracts Administration<BR>
82 Devonshire Street, MM3H<BR>
Boston, MA 02109

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>Expedia Retirement Savings Plan</B></U>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">*** NOTE: This schedule should contain names and signatures for ALL individuals who will
be providing directions to Fidelity representatives in connection with the Plan.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Fidelity representatives will be unable to accept directions from any individual whose
name does not appear on this schedule.***
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dear Ms.&nbsp;Flaminio:

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This letter is sent to you in accordance with Section 8(b) of the Trust Agreement, dated as of
July&nbsp;1, 2005, between Expedia, Inc. and Fidelity Management Trust Company. &#091;I or We&#093; hereby
designate &#091;name of individual&#093;, &#091;name of individual&#093;, and &#091;name of individual&#093;, as the individuals
who may provide directions on behalf of the Administrator upon which Fidelity Management Trust
Company shall be fully protected in relying. Only one such individual need provide any direction.
The signature of each designated individual is set forth below and certified to be such.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You may rely upon each designation and certification set forth in this letter until &#091;I or we&#093;
deliver to you written notice of the termination of authority of a designated individual.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Very truly yours,<BR>
<BR>
<B>EXPEDIA, INC.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>&#091;signature of designated individual</U>&#093;<BR>
&#091;name of designated individual&#093;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>&#091;signature of designated individual</U>&#093;<BR>
&#091;name of designated individual&#093;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>&#091;signature of designated individual</U>&#093;<BR>
&#091;name of designated individual&#093;
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->58<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE &#147;E&#148; &#151; </B><B><I>Authorized Signers (Named Fiduciary)</I></B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>&#091;Sponsor&#146;s Letterhead&#093;</B>

</DIV>

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>&#091;Date&#093;</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Ms.&nbsp;Joann E. Flaminio<BR>
FESCo Business Compliance<BR>
Contracts Administration<BR>
82 Devonshire Street, MM3H<BR>
Boston, MA 02109

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>Expedia Retirement Savings Plan</B></U>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">*** NOTE: This schedule should contain names and signatures for ALL individuals who will
be providing directions to Fidelity representatives in connection with the Plan.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Fidelity representatives will be unable to accept directions from any individual whose
name does not appear on this schedule.***
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dear Ms.&nbsp;Flaminio:

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This letter is sent to you in accordance with Section 8(c) of the Trust Agreement, dated as of
July&nbsp;1, 2005, between Expedia, Inc. and Fidelity Management Trust Company. &#091;I or We&#093; hereby
designate &#091;name of individual&#093;, &#091;name of individual&#093;, and &#091;name of individual&#093;, as the individuals
who may provide directions on behalf of the Named Fiduciary upon which Fidelity Management Trust
Company shall be fully protected in relying. Only one such individual need provide any direction.
The signature of each designated individual is set forth below and certified to be such.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You may rely upon each designation and certification set forth in this letter until &#091;I or we&#093;
deliver to you written notice of the termination of authority of a designated individual.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Very truly yours,<BR>
<BR>
<B>EXPEDIA, INC.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>&#091;signature of designated individual</U>&#093;<BR>
&#091;name of designated individual&#093;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>&#091;signature of designated individual</U>&#093;<BR>
&#091;name of designated individual&#093;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>&#091;signature of designated individual</U>&#093;<BR>
&#091;name of designated individual&#093;
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->59<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE &#147;F&#148; &#151; </B><B><I>Statement of Qualified Status</I></B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B><I>&#091;Law Firm Letterhead&#093;</I></B>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>**Note: This Schedule is not necessary if the Plan&#146;s IRS determination letter is not more than two
(2)&nbsp;years old.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Ms.&nbsp;Joann E. Flaminio<BR>
FESCo Business Compliance<BR>
Contracts Administration<BR>
82 Devonshire Street, MM3H<BR>
Boston, MA 02109

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>Expedia Retirement Savings Plan</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dear Ms.&nbsp;Flaminio:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In accordance with your request, this letter sets forth our opinion with respect to the
qualified status under section 401(a) of the Internal Revenue Code of 1986 (including amendments
made by the Employee Retirement Income Security Act of 1974) (the &#147;Code&#148;), of the <B>&#091;name of plan&#093;</B>,
as amended to the date of this letter (the &#147;Plan&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The material facts regarding the Plan as we understand them are as follows. The most recent
favorable determination letter as to the Plan&#146;s qualified status under section 401(a) of the Code
was issued by the <B>&#091;location of Key District&#093; </B>District Director of the Internal Revenue Service and
was dated <B>&#091;date&#093; </B>(copy enclosed). The version of the Plan submitted by <B>&#091;name of company&#093; </B>(the
&#147;Company&#148;) for the District Director&#146;s review in connection with this determination letter did not
contain amendments made effective as of <B>&#091;date&#093;</B>. These amendments, among other matters<B>, &#091;brief
description of amendments&#093;</B>. <B>&#091;Subsequent amendments were made on &#091;date&#093; to amend the provisions
dealing with &#091;brief description of amendments&#093;.&#093;</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has informed us that it intends to submit the Plan to the <B>&#091;location of Key
District&#093; </B>District Director of the Internal Revenue Service and to request from him a favorable
determination letter as to the Plan&#146;s qualified status under section 401(a) of the Code. The
Company may have to make some modifications to the Plan at the request of the Internal Revenue
Service in order to obtain this favorable determination letter, but we do not expect any of these
modifications to be material. The Company has informed us that it will make these modifications.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on the foregoing statements of the Company and our review of the provisions of the Plan,
it is our opinion that the Internal Revenue Service will issue a favorable determination letter as
to the qualified status of the Plan, as modified at the request of the Internal Revenue Service,
under section 401(a) of the Code, subject to the customary condition that continued qualification
of the Plan, as modified, will depend on its effect in operation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#091;Furthermore, in that the assets are in part invested in common stock issued by the Company or
an affiliate, it is our opinion that the Plan is an &#147;eligible individual account plan&#148; (as defined
under Section&nbsp;</B><B>407(d)(3)</B><B> of ERISA) and that the shares of common stock of the Company held and to be
purchased under the Plan are &#147;qualifying employer securities&#148; (as defined under Section&nbsp;</B><B>407(d)(5)</B><B>
of ERISA). Finally, it is our opinion that interests in the Plan are not required to be registered
under the Securities Act of 1933, as amended, or, if such registration is required, that such
interests are effectively registered under said Act.&#093;</B>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->60<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Sincerely,<BR>
<BR>
<B>&#091;name of law firm&#093;</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">&#091;signature&#093;
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&#091;name of partner&#093;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->61<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE &#147;G&#148; &#151; Exchange Guidelines</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following exchange guidelines are currently employed by FIIOC.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Participants may initiate exchanges, via a Fidelity Participant service representative, from 8:30
a.m. (ET)&nbsp;to 8:00 p.m. in the Participant&#146;s time zone in the continental United States on each
Business Day.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Participants may initiate exchanges subject to the rules listed below for the Sponsor and the IAC
Stock Funds, subject to the rules listed below for BrokerageLink, via VRS and the internet
(NetBenefits<SUP style="font-size: 85%; vertical-align: text-top">SM</SUP>) virtually 24 hours a day.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>Fidelity Retirement Plan Manager</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A Participant may only elect to participate in Fidelity Retirement Plan Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> following a
telephone conversation with a Fidelity service representative. After the conclusion of any
Participant Recordkeeping Reconciliation Period, exchanges shall be made at the NAV next calculated
after a Participant has provided In Good Order all information necessary for the service to
determine an appropriate target asset mix and model portfolio, and the receipt of his or her
election to participate in the service has been confirmed by a Fidelity service representative. A
Participant may elect to terminate participation in Fidelity Retirement Plan Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> via telephone
conversation with a Fidelity service representative, and such termination shall be effective
immediately when Fidelity confirms receipt of such instruction, provided that if any exchange
transactions are pending at the time the Participant elects to terminate the service, the pending
transactions shall be processed at the market close on such date unless the Participant requests
cancellation of such transactions. In the absence of such pending transactions, a Participant may
request exchanges immediately, and such transactions shall be implemented in accordance with the
guidelines set out herein for such investment option. For so long as a Participant participates in
the Fidelity Retirement Plan Manager<B><SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> </B>service, he or she may not make exchanges in his or her
account (except for assets held in sponsor stock).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">FIIOC reserves the right to change these exchange guidelines at its discretion.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Exchanges shall be subject to Plan rules, and the Exchange Guidelines provided below shall apply to
sources and funds to the extent eligible for Participant-directed purchases and/or sales.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Note: The NYSE&#146;s normal closing time is 4:00 p.m. (ET); in the event the NYSE closes before such
time or alters its closing time, all references below to 4:00 p.m. (ET)&nbsp;shall mean the actual or
altered closing time of the NYSE.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->62<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>General Rule for Plan Investment Options</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Exchanges Between Plan Investment Options</B></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Except as otherwise described below, exchanges between Plan investment options are processed
on a daily cycle, market conditions permitting. Participants may contact Fidelity on any
day to initiate an exchange between the Plan&#146;s investment options. If the request is
confirmed before the close of the market (generally 4:00 p.m. (ET)), on a Business Day, it
will receive that day&#146;s trade date. Requests confirmed after the close of the market on a
Business Day (or on any day other than a Business Day) will be processed on a next Business
Day basis.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>Exceptions or Other Restrictions</B></U>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>Sponsor Stock</B></U><B>:</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The following rules apply to any Participant-initiated exchange unless the Sponsor has
directed the Trustee in writing to treat such exchanges as batch activity.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Exchanges from Other Investment Options into Sponsor Stock</B></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Exchanges from a Plan investment option into Sponsor Stock will be processed after execution
of the buy trade, at the next calculated NAV of the Plan investment option.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Sponsor Stock will be reflected in the Participant&#146;s individual account in the Plan on the
Business Day following execution of the trade.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Exchanges from Sponsor Stock into Other Plan Investment Options</B></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Exchanges out of Sponsor Stock will be processed after execution of the sell trade. Except
as otherwise provided in this Schedule, the subsequent exchange into the other Plan
investment option will be processed upon settlement day of the sell trade, at the last
calculated NAV for such date.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Shares of the other Plan investment option will be reflected in the Participant&#146;s account on
the following Business Day.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Additional Real Time Trading Restrictions</B></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All exchange requests involving Sponsor Stock must be made in shares of stock, even if the
Plan allows for percentage and dollar amount exchanges. If a Participant wishes to exchange
out his or her entire balance in Sponsor Stock (or, if applicable, his or her entire balance
in Sponsor Stock in a single source), the associated trade must be placed in whole shares,
and fractional shares will be processed at the price determined by the Participant-directed
trade. Exchange requests accompanied by certain order types may not be accepted outside of
normal trading</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->63<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>hours. Trade requests accompanying exchange requests that do not adhere to the Trustee&#146;s
standard guidelines, or that would violate securities exchange rules, may result in
rejection or cancellation of the associated exchange request.</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Exchanges from one stock fund to another, or from a Participant-directed brokerage account
to Sponsor Stock are not permitted.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Exchanges into Sponsor Stock shall be subject to minimum reserves on the investment option
used to fund the exchange, as established by the Trustee from time to time (or such higher
reserves as the Sponsor directs in writing). Exchanges in excess of the minimum reserve are
prohibited.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>IAC Stock</B></U><B>:</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The following rules apply to any Participant-initiated exchange unless the Sponsor has
directed the Trustee in writing to treat such exchanges as batch activity.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Exchanges from IAC Stock into Other Plan Investment Options</B></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Exchanges out of IAC Stock will be processed after execution of the sell trade. Except as
otherwise provided in this Schedule, the subsequent exchange into the other Plan investment
option will be processed upon settlement day of the sell trade, at the last calculated NAV
for such date.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Shares of the other Plan investment option will be reflected in the Participant&#146;s account on
the following Business Day.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Additional Real Time Trading Restrictions</B></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All exchange requests involving IAC Stock must be made in shares of stock, even if the Plan
allows for percentage and dollar amount exchanges. If a Participant wishes to exchange out
his or her entire balance in IAC Stock (or, if applicable, his or her entire balance in IAC
Stock in a single source), the associated trade must be placed in whole shares, and
fractional shares will be processed at the price determined by the Participant-directed
trade. Exchange requests accompanied by certain order types may not be accepted outside of
normal trading hours. Trade requests accompanying exchange requests that do not adhere to
the Trustee&#146;s standard guidelines, or that would violate securities exchange rules, may
result in rejection or cancellation of the associated exchange request.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Exchanges from one stock fund to another, or from a Participant-directed brokerage account
to IAC Stock are not permitted.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Competing Fund Restriction:</B></U></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Equity Wash</B></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Participants will not be permitted to make direct transfers between the Managed Income
Portfolio II into a competing fund. Participants who wish to exchange between the Managed
Income Portfolio II into a competing fund must first exchange</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->64<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>into a non-competing fund for a
period of 90&nbsp;days.</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->65<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>BrokerageLink Option:</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Exchanges from Investment Options (Standard Plan Option) into BrokerageLink Option</B></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If a request to exchange into BrokerageLink is confirmed before the close of the market
(generally 4:00 p.m. ET) on any Business Day, the SPO investment option redemption will
receive that day&#146;s trade date and the purchase into the BrokerageLink Core Account will
receive the next Business Day&#146;s trade date. Requests confirmed after the close of the market
on a Business Day will be processed on a next Business Day basis.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For exchanges initiated via any of the available channels, (NetBenefits, VRS or a
Participant Services Representative) 100% of the exchanged amount will be available for
trading the next Business Day. Although none of the exchanged amount will be available for
trading until the next Business Day for exchanges initiated via NetBenefits or VRS, 90% of
the assets will be immediately available to trade through a brokerage representative if the
exchange is initiated via a Participant Services Representative.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Exchanges from BrokerageLink Option into Mutual Funds (Standard Plan Option)</B></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Plan must designate one of the SPO investment options as the SPO Default Fund.
Participants exchanging from the BrokerageLink option into other SPO investment options will
have no choice as to where these assets are invested upon transfer from BrokerageLink. All
assets exchanged from BrokerageLink to other SPO investment options are first credited to
the SPO Default Fund. If a Participant wants to reallocate from the SPO Default Fund to
other SPO investment options, he/she must contact Fidelity after the assets have been
credited to the SPO Default Fund.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Participants must speak to a brokerage representative to exchange from BrokerageLink into
the SPO, and may contact Fidelity on any Business Day to do so. The transfer will involve a
redemption from the BrokerageLink Core Account. If the request is confirmed before the
close of the market on a Business Day, the BrokerageLink Core Account redemption will
receive that day&#146;s trade date, and the purchase into the SPO default fund will receive that
day&#146;s trade date. Requests confirmed after the close of the market on a Business Day (or on
any day other than a Business Day) will be processed on a next Business Day basis.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Most BrokerageLink trades require a three (3)&nbsp;Business Day settlement period. When placing
the sell order in a Participant Account, the Participant may not request that upon
settlement of</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->66<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the sell, assets be transferred from BrokerageLink to the SPO Default Fund. The Participant
must call back after each settlement to transfer funds from the BrokerageLink Core Account
into the SPO Default Fund.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>EXPEDIA, INC.</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Name: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Title: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->67<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE &#147;H&#148; &#151; </B><B><I>Operational Guidelines for Non-Fidelity Mutual Funds</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Pricing</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">By 7:00 p.m. Eastern Time (&#147;ET&#148;) each Business Day, the Non-Fidelity Mutual Fund Vendor (Fund
Vendor) will transmit the following information (&#147;Price Information&#148;) to FIIOC: (1)&nbsp;the NAV for
each Fund prior to the close of trading on the New York Stock Exchange (&#147;Close of Trading&#148;), (2)
the change in each Fund&#146;s NAV from the Close of Trading on the prior Business Day, (3)&nbsp;in the case
of an income fund or funds, the daily accrual for interest rate factor (&#147;mil rate&#148;), and (4)&nbsp;on ex
dividend date, if applicable, dividend and capital gain information. FIIOC must receive Price
Information each Business Day. If on any Business Day the Fund Vendor does not provide such Price
Information to FIIOC, FIIOC shall pend all associated transaction activity in the Plan until the
relevant Price Information is made available by Fund Vendor.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Trade Activity and Wire Transfers</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Each Business Day following Trade Date (&#147;Trade Date plus One&#148;), FIIOC or National Financial
Services Corporation LLC (&#147;NFS&#148;), an affiliate of FIIOC, will provide, via facsimile, to the Fund
Vendor a consolidated report of net purchase or net redemption activity that occurred in each of
the Funds at the Close of Trading on the prior Business Day. The report will reflect the dollar
amount of assets and shares to be invested or withdrawn for each Fund. FIIOC or NFS will transmit
this report to the Fund Vendor each Business Day, regardless of processing activity. In the event
that data contained in the facsimile transmission represents estimated trade activity, FIIOC or NFS
shall provide a final facsimile to the Fund Vendor. Any resulting adjustments shall be processed
by the Fund Vendor at the net asset value for the prior Business Day.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Fund Vendor shall send via regular mail to FIIOC or NFS transaction confirms for all daily
activity in each of the Funds. The Fund Vendor shall also send via regular mail to FIIOC or NFS,
by no later than the fifth Business Day following calendar month close, a monthly statement for
each Fund. FIIOC and NFS agree to notify the Fund Vendor of any balance discrepancies within
twenty (20)&nbsp;Business Days of receipt of the monthly statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For purposes of wire transfers, FIIOC or NFS shall transmit a daily wire for aggregate purchase
activity and the Fund Vendor shall transmit a daily wire for aggregate redemption activity, in each
case including all activity across all Funds occurring on the same day.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Prospectus Delivery</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">FIIOC shall be responsible for the timely delivery of Fund prospectuses and periodic Fund reports
(&#147;Required Materials&#148;) to Participants, and shall retain the services of a third-party vendor to
handle such mailings. The Fund Vendor shall be responsible for all materials and production costs,
and hereby agrees to provide the Required Materials to the third-party vendor selected by FIIOC.
The Fund Vendor shall bear the costs of mailing annual Fund reports to Participants. FIIOC shall
bear the costs of mailing prospectuses to Participants.
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->68<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Proxies</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Fund Vendor shall be responsible for all costs associated with the production of proxy
materials. FIIOC shall retain the services of a third-party vendor to handle proxy solicitation
mailings and vote tabulation. Expenses associated with such services shall be billed directly to
the Fund Vendor by the third-party vendor.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Participant Communications</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Fund Vendor shall provide internally-prepared fund descriptive information approved by the
Funds&#146; legal counsel for use by FIIOC in its written Participant communication materials. FIIOC
shall utilize historical performance data obtained from third-party vendors (currently Morningstar,
Inc., FACTSET Research Systems and Lipper Analytical Services) in telephone conversations with
Participants and in quarterly Participant statements. The Sponsor hereby consents to FIIOC&#146;s use
of such materials and acknowledges that FIIOC is not responsible for the accuracy of such
third-party information. FIIOC shall seek the approval of the Fund Vendor prior to retaining any
other third-party vendor to render such data or materials under this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Compensation</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">FIIOC shall be entitled to fees as set forth in a separate agreement with the Fund Vendor.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->69<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE &#147;I&#148; &#151; </B><B><I>Securities That May Not Be Purchased Under the BrokerageLink Option</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Any Security identified by the Sponsor that may result in a prohibited transaction<BR>
Any Securities or Securities Options issued by the Sponsor<BR>
Precious Metals<BR>
Tax-exempt Securities (including mutual funds, municipal bonds and unit investment trusts)<BR>
Annuities<BR>
U.S. Savings Bonds<BR>
Limited Partnerships (except for Master Limited Partnerships)<BR>
Level 3, 4 and 5 Options (which require margin accounts)<BR>
Currencies<BR>
Currency Options<BR>
Currency Warrants<BR>
Commodities<BR>
Interest Rate Options<BR>
Financial Futures<BR>
Convertible Adjustable Preferred Stock<BR>
Such other Securities as directed by the Sponsor

</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->70<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE &#147;J&#148; &#151; </B><B><I>BrokerageLink Administrative Procedures</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This schedule sets forth the actions that Fidelity will take to rectify various situations that might arise in
Participant Accounts. By signing this schedule, the Sponsor acknowledges that the terms of this schedule
shall serve as standing instructions to Fidelity to take the appropriate action in response to a given
situation, as described below, to comply with the Agreement and to facilitate customer service and
operations processing.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Transfer of Assets out of BrokerageLink</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the following situations, Fidelity will initiate a liquidation and transfer of assets out of
BrokerageLink, to the extent necessary to rectify the problem:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
<TD width="3%" nowrap align="left"><FONT face="Wingdings">&#216;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Assets in BrokerageLink are from restricted sources. (A Plan may restrict assets from
certain sources from being transferred to BrokerageLink.)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#216;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Assets in BrokerageLink are from non-vested assets, if restricted. (A Plan may restrict
non-vested assets from being transferred to BrokerageLink.)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#216;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Assets in BrokerageLink are from a deposit via an unauthorized channel. (Participants
may transfer assets to BrokerageLink only through the SPO recordkeeping system (payroll
deduction to the SPO or exchange from another SPO investment option). Assets transferred
into BrokerageLink in any other way are considered to have been transferred via an
unauthorized channel.)</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Fidelity will look to the BrokerageLink Core Account first. If the BrokerageLink Core Account does
not contain sufficient assets, Fidelity will place a sell trade order(s) in the Participant&#146;s
Account. The securities that will be sold/liquidated will be selected on a last in &#151; first out
basis. Such liquidation will be limited to the number of shares necessary to correct the problem.
Any trade related expenses (commissions or other fees) and realized gain or loss will be borne by
the Participant Account, or if necessary, the SPO.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the case of assets from restricted sources or from non-vested assets, those assets will be
credited to the SPO Default Fund. In the case of assets deposited via an unauthorized channel,
Fidelity will mail a check to the Participant.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Transfer of Assets into BrokerageLink</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the following situations, Fidelity will initiate a transfer of assets into BrokerageLink, to the
extent necessary to rectify the problem:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#216;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Assets withdrawn from BrokerageLink via an unauthorized channel. (Participants may
transfer assets out of BrokerageLink only through the SPO recordkeeping system. Assets
transferred out of BrokerageLink in any other way are considered to have been transferred
via an unauthorized channel.)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#216;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The BrokerageLink Core Account has a negative balance, due to an unsecured debit or
overdraft.</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->71<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the event of an unauthorized channel withdrawal, Fidelity will contact the Participant and
request that the withdrawn assets be returned to Fidelity. Fidelity will then redeposit the assets
into the BrokerageLink Core Account. In the event of an unsecured debit or overdraft, Fidelity
will look to the SPO first. If the SPO does not contain sufficient assets, Fidelity will place a
sell trade order(s) in the Participant Account. The securities that will be sold/liquidated will
be selected on a last in &#151; first out basis. Such liquidation will be limited to the number of
shares necessary to correct the problem. Any trade related expenses (commissions or other fees)
and realized gain or loss will be borne by the Participant Account.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Fees / Distributions / Adjustments</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">All Plan related fees that are paid by the Participant and all distributions (minimum required
distributions (MRD), systematic withdrawal payments (SWP), deminimus, etc.) are debited from the
Participant&#146;s SPO. If there are not enough assets in SPO to pay fees of any nature or make
necessary distributions, then Fidelity will look to the Participant Account.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If there are sufficient assets in the BrokerageLink Core Account, then Fidelity will initiate the
transfer to the SPO Default Fund to cover the fee or distribution. If the BrokerageLink Core
Account does not contain sufficient assets, Fidelity will place a sell trade order(s) in the
Participant Account. The securities that will be sold/liquidated will be selected on a last in -
first out basis. Such liquidation will be limited to the amount/number of shares necessary to
correct the problem, plus any additional amounts that may be necessary to cover market
fluctuations. Any trade related expenses (commissions or other fees) and realized gain or loss
will be borne by the Participant Account.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the event that a removal of excess contributions is initiated in order to make an adjustment in
response to non-discrimination testing (NDT)&nbsp;results, Fidelity will follow the procedure described
above with regard to fees and distributions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the event of a deminimus distribution, all of the Participant&#146;s BrokerageLink holdings
(individual securities plus any amounts in the BrokerageLink Core Account) will be liquidated and
moved to the SPO, in order to facilitate the distribution.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Restricted or Ineligible Securities</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Plan has designated that certain securities or security types be restricted from being
purchased. If Fidelity identifies a restricted security that has been purchased, then Fidelity
will place a sell trade order in the Participant Account to remove that security. Any trade
related expenses (commissions or other fees) and realized gain or loss will be borne by the
Participant Account, or if necessary, the SPO. The proceeds from the liquidated securities will be
credited to the BrokerageLink Core Account.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Qualified Domestic Relation Orders (&#147;QDRO&#146;s&#148;)</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Sponsor will notify Fidelity of the pending DRO and direct Fidelity to restrict the affected
Participant Account in accordance with procedures documented in the Plan Administration Manual. If
the DRO is
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->72<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">determined to be a QDRO, any and all liquidations and transfers of securities will be completed,
upon Sponsor direction, in accordance with the procedures documented in the Plan Administration
Manual.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Deaths</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the event of a Participant death, the Sponsor will advise Fidelity of the death and the
Participant Account will be frozen to all activity and all Limited Trading Authorizations shall be
terminated. Upon Sponsor direction, Fidelity will liquidate or transfer securities to the
beneficiary&#146;s account in accordance with the procedures documented in the Plan Administration
Manual.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left"><B>EXPEDIA, INC.</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Date</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->73<!-- /Folio -->
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE &#147;K&#148; &#151; </B><B><I>Form&nbsp;5500 Service</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Effective for the Signature Ready Form&nbsp;5500 Service (&#147;Service&#148;) and the Summary Annual Report
(&#147;SAR&#148;) prepared for plan year ending December&nbsp;31, 2005, and thereafter, <B>Fidelity Management Trust
Company </B>(&#147;Fidelity&#148;) agrees to provide this Service, in accordance with the following:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>The Sponsor hereby agrees to:</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Submit the following required information (&#147;Required Information&#148;) annually:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Completed plan questionnaire (&#147;Questionnaire&#148;);</TD>
</TR>


<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Draft or final copy of the audited financial statements; and</TD>
</TR>




<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Copy of the prior year Form&nbsp;5500 filed with the Department of Labor (DOL)
(applicable only if Fidelity did not prepare the plan&#146;s prior year Form&nbsp;5500)</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provide Fidelity with the Required Information, in the format requested by Fidelity, as
soon as possible after the plan&#146;s year end &#151; but in no event later than the last day of
the 8<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> month following the plan&#146;s year-end (assuming a filing extension has
been requested);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Authorize Fidelity to prepare and execute IRS Form&nbsp;5558 (Application for Extension) on
behalf of the Plan Administrator and file Form&nbsp;5558 with the IRS in order to obtain an
extension of the filing deadline in the event that Fidelity has not received a completed
plan Questionnaire within five and one-half (5 <FONT style="font-size: 70%"><SUP>1</SUP></FONT>/<FONT style="font-size: 60%">2</FONT>) months after the plan&#146;s year end;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Review, sign and mail the Form&nbsp;5500 prepared by Fidelity to the DOL in a timely manner;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Distribute the SAR to participants and beneficiaries in a timely manner; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Respond to and provide any other information requested by Fidelity, including soliciting
any information from the prior recordkeeper, related to the Form&nbsp;5500.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Fidelity hereby agrees to:</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provide the Sponsor with the Questionnaire within one and one-half (1 <FONT style="font-size: 70%"><SUP>1</SUP></FONT>/<FONT style="font-size: 60%">2</FONT> ) months after
the Plan&#146;s year-end;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>File Form&nbsp;5558 to request an extension of time to file Form&nbsp;5500 if requested by the
Plan Sponsor or if the completed Questionnaire is not received from the Sponsor within five
and one half (5 <FONT style="font-size: 70%"><SUP>1</SUP></FONT>/<FONT style="font-size: 60%">2</FONT> ) months after the Plan&#146;s year end, as specified above;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provide the Sponsor with the Form&nbsp;5500 at least ten (10)&nbsp;days prior to the required
filing date and SAR at least ten (10)&nbsp;days prior to the required mailing date, assuming the
Plan Sponsor has submitted the Required Information and has met the filing deadlines as
outlined in this agreement;</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->74<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Respond to inquiries from the DOL or IRS received by the Sponsor, related to any Form
5500 prepared by Fidelity.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Plan Sponsor understands that the Form&nbsp;5500 will be prepared based upon the information
provided in the Questionnaire and acknowledges that Fidelity shall have no responsibility for
verifying the authenticity or accuracy of the data submitted by the Sponsor on the Questionnaire.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the event that Fidelity does not receive all Required Information within 8&nbsp;months after the
plan&#146;s year-end, Fidelity will not prepare the Form&nbsp;5500 and the Sponsor shall be responsible for
completing the Form&nbsp;5500 for filing with the DOL. Fidelity will not be held responsible for any
late fees or penalties for incomplete filings caused by it not receiving the Required Information
within 8&nbsp;months after the plan&#146;s year-end.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Fees related to this Service are set out on Schedule &#147;B&#148; to the Agreement to which this schedule is
attached. Further, Signature-Ready 5500 service will continue until the Plan Sponsor provides
Fidelity with written direction to the contrary.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>EXPEDIA, INC.</B>
</DIV>

<P><DIV style="position: relative; float: left; width: 30%">

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">By:</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><BR><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>Date</TD>
</TR>
</TABLE>
</DIV>
</DIV>
<DIV style="position: relative; float: right; width: 70%">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;
</DIV>
</DIV>
<BR clear="all"><BR>

<P align="center" style="font-size: 10pt"><!-- Folio -->75<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE &#147;L&#148;</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U><B>OPERATING GUIDELINES FOR INVESTMENT OPTIONS EXCHANGES</B></U><BR>
<U><B>FIDELITY RETIREMENT PLAN MANAGER<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></B></U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following operating guidelines shall govern exchanges of investment options for
Participants enrolled in Fidelity Retirement Plan Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP>. These guidelines are subject to change
upon notice to the Sponsor.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(a)&nbsp;Participant
accounts enrolled in Fidelity Retirement Plan Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> shall be flagged for rebalancing on any Business Day on which the account varies from the assigned
model portfolio by more than a drift allowance specified under the service.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(b)&nbsp;Rebalance transactions shall be created during the nightly cycle for
processing on the
following Business Day.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(c)&nbsp;Rebalance
transactions will be reflected in Participant accounts on the day
following the date on which the rebalance transaction is processed.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(d)&nbsp;If there is a reallocation of the model portfolio (resulting from review of
the Plan&#146;s
investment options or a change in the Plan investment option menu), those Participant
accounts that vary from the revised model portfolio by more than a drift allowance
specified under the service shall be flagged for reallocation.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(e)&nbsp;Reallocation transactions shall be processed using the same rules as for
rebalance
transactions.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(f)&nbsp;If a change in model portfolios is required as a result of an annual or ad
hoc review
of the Participant&#146;s investor profile completed before the market close on a Business Day,
the required exchanges shall be processed in that night&#146;s nightly cycle, and reflected in
the Participant&#146;s account on the next Business Day.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(g)&nbsp;If receipt of a Participant&#146;s election to terminate the Fidelity Retirement
Plan
Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> service is confirmed before market close, the account will not be flagged for
rebalancing or reallocation.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(h)&nbsp;If receipt of a Participant&#146;s election to terminate the Fidelity Retirement
Plan
Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> service is received while a transaction is pending, the pending transaction will
proceed as outlined above unless the Participant requests cancellation of such transaction.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->76<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>SCHEDULE &#147;M&#148;</B></U>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U><B>INVESTMENT MANAGEMENT AGREEMENT</B></U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>AGREEMENT</B>, dated and effective as of August&nbsp;5, 2005, by and between Strategic Advisers, Inc.,
an investment adviser registered under the Investment Advisers Act of 1940, as amended (the
&#147;Advisers Act&#148;) with its principal offices at 82 Devonshire Street, Boston, Massachusetts (the
&#147;Investment Manager&#148;) and Expedia, Inc. (the &#147;Company&#148;) a Washington corporation, with its
principal offices at 3150 139<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> Avenue SE, Bellevue, Washington 98005.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B><U>W</U>&nbsp;<U>I</U>&nbsp;<U>T</U>&nbsp;<U>N</U>&nbsp;<U>E</U>&nbsp;<U>S</U>&nbsp;<U>S</U>&nbsp;<U>E</U>&nbsp;<U>T</U>&nbsp;<U>H</U></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>WHEREAS</B>, the Company, acting in its capacity as named fiduciary, has entered into a trust
agreement (the &#147;Trust Agreement&#148;) with Fidelity Management Trust Company (the &#147;Trustee&#148;), which
Trust Agreement permits certain assets of the Expedia Retirement Savings Plan (the &#147;Plan&#148;) held in
the trust thereby created (the &#147;Trust&#148;) to be managed by a duly-appointed investment manager, all
in accordance with the Employee Retirement Income Security Act of 1974, as amended (&#147;ERISA&#148;); and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>WHEREAS</B>, the Company desires to appoint Strategic Advisers, Inc. for purposes of a
discretionary investment management service known as Fidelity Retirement Plan Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP>
(the &#147;Service&#148;) for eligible participants in the Plan, and has amended the Trust Agreement for the
Plan in contemplation thereof; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>WHEREAS</B>, the Company and the Investment Manager wish to enter into this Investment Management
Agreement (the &#147;Agreement&#148;) for the purpose of retaining Strategic Advisers, Inc. (the &#147;Investment
Manager&#148;) to manage certain assets of the Trust described in Section&nbsp;2 below (the &#147;Managed Assets&#148;)
in connection with the Service.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>NOW THEREFORE</B>, in consideration of the promises and the mutual covenants contained herein, the
Company and the Investment Manager hereby agree as follows:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>SECTION 1. Definitions</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise defined herein, the terms used in this Agreement shall have the same meaning
as in the Trust Agreement. This Agreement shall be interpreted, to the greatest extent possible,
to be consistent with such Trust Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>SECTION 2. Appointment of the Investment Manager</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company appoints the Investment Manager to manage, pursuant to the guidelines referred to
in Section&nbsp;6 hereof (the &#147;Investment Guidelines&#148;), such of the assets of the Plan as may constitute
Managed Assets from time to time. Managed Assets shall be comprised of all assets of the Plan held
in or contributed to individual accounts of eligible Plan participants enrolled in the Service
excluding securities that are or were formerly employer securities within the meaning of ERISA
(&#147;Company Stock&#148;). The circumstances for eligibility, enrollment and termination of participation
in the Service are set forth in the Trust Agreement, as it may be amended from time to time, and
such provisions are incorporated by reference herein. The Company represents and warrants that it
has full power and authority to enter into this Agreement with respect to and on behalf of the
Plan. The Company acknowledges receipt of the Investment Manager&#146;s Part&nbsp;II of Form&nbsp;ADV, or a
written disclosure statement containing the information required by such form at least 48 hours
prior to entering into this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>SECTION 3. Acceptance of Appointment as Investment Manager</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Investment Manager accepts the appointment to manage the Managed Assets pursuant to the
Investment Guidelines and on the terms and conditions set forth in
this Agreement. The Investment Manager represents that it is an investment adviser registered under the Advisers
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->77<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Act, and that it
has full power and authority to enter into this Agreement. The Investment Manager acknowledges
that it is a fiduciary, within the meaning of Section&nbsp;3(21) of ERISA, with respect to the Plan to
the extent of its discretionary authority and responsibility for investment management of Managed
Assets.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>SECTION 4. Powers and Duties of the Investment Manager</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(a)&nbsp;Subject to the provisions of Sections&nbsp;3 and 6 hereof and the requirement of Title I,
Part&nbsp;4 of ERISA pertaining to the responsibilities of fiduciaries, the Investment Manager
shall use its best efforts to provide an opportunity for enhanced returns, consistent with
appropriate risk diversification, by causing the Managed Assets to be invested and reinvested
from time to time only in investment options offered to participants under the Trust, and to
that end shall have full power and authority to:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">(1)&nbsp;direct the Trustee or its agent to make purchases and sales of securities or
other property for the individual Plan accounts of electing Plan participants;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">(2)&nbsp;instruct or direct the Trustee to perform any or all of the powers, duties, and
authority given to the Trustee in the Trust Agreement which are therein subjected to
direction by the Investment Manager and to enforce performance by the Trustee of such
powers, duties, and authority;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">(3)&nbsp;execute any and all documents necessary to make investments within the scope of
the Investment Guidelines, or to carry out other duties of the Investment Manager
hereunder.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(b)&nbsp;Except as otherwise provided in ERISA regarding liability for breaches of fiduciary
duties by other fiduciaries, the Investment Manager shall have no responsibility for the acts
or omissions of the Company or the Trustee. The Investment Manager shall have no
responsibility for any loss resulting from anything done or omitted to be done in good faith
reliance on any written or electronic instructions from the Company or any authorized
representative thereof or any information provided by a Plan participant whose Plan account
is being managed by Strategic Advisers and the Company shall indemnify the Investment Manager
against and hold it harmless from any penalties, damages, losses, liabilities or other
expenses (including reasonable attorneys&#146; fees) (&#147;Losses&#148;) arising out of the Investment
Manager&#146;s action or inaction based on good faith reliance on such instructions or
information. The Company also agrees to indemnify and hold the Investment Manager harmless
from any Losses arising from the provision of the Service provided that the Investment
Manager has acted in accordance with ERISA and the Advisers Act.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(c)&nbsp;Federal and state securities laws impose liability, under certain circumstances, on
persons who act in good faith. Nothing in this Agreement shall waive or limit any rights
that the Company may have under those laws.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(d)&nbsp;During and for a reasonable time after the term of this Agreement, the Investment Manager
or its agents shall permit the Company or its agents (including independent public
accountants selected by the Company) during business hours to inspect, at the expense of the
Company, the Investment Manager&#146;s records of investment direction provided by the Investment
Manager pursuant to this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(e)&nbsp;The Investment Manager shall have no responsibility or authority to exercise any
shareholder rights that arise with respect to investments in which Managed Assets are
invested, nor shall it have responsibility or authority to make decisions with respect to
matters, such as litigation or bankruptcy, arising out of the Trust&#146;s ownership of any such
investments.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->78<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(f)&nbsp;The Investment Manager shall have no duty or responsibility to manage assets other than
Managed Assets, including in particular, Company Stock (&#147;Other Assets&#148;), or, except as
provided in the Investment Guidelines with respect to Company Stock, to make investment
decisions with respect to Managed Assets that offset or counterbalance the investment of such
Other Assets, even if the Investment Manager manages such Other Assets pursuant to a separate
advisory agreement, or if those Other Assets are reflected as being owned by or attributable
to the Plan participant on books and records maintained by the Investment Manager or any of
its affiliates.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>SECTION 5. Duties of the Company</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company shall:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(a)&nbsp;direct the Trustee or the recordkeeper to invest the Managed Assets at the direction
of the Investment Manager;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(b)&nbsp;provide, or cause the Trustee to provide, the Investment Manager with such
information pertaining to the Managed Assets and the Plan as the Investment Manager may
reasonably request, which information the Investment Manager shall keep as confidential and
shall not disclose, except as required by law, to any party other than its subsidiaries or
affiliates, without the prior consent of the Company;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(c)&nbsp;compensate, or cause the Trustee to compensate from the Trust, by deduction from the
accounts of Participants enrolled in the Service or otherwise, the Investment Manager for its
services under this Agreement in the amounts set forth on Exhibit&nbsp;A as it may be amended from
time to time; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(d)&nbsp;provide, or cause to be provided, such information to Plan participants as is
delivered for that purpose by the Investment Manager.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>SECTION 6. Investment Guidelines</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Managed Assets shall be managed in accordance with the Investment Guidelines attached as
Exhibit&nbsp;B hereto. The Investment Manager shall make its investment decisions consistent with such
Investment Guidelines, but otherwise shall have sole and exclusive authority and discretion to
manage and control the investment of the Managed Assets consistent with the provisions of this
Agreement. The Investment Guidelines may be changed by written notice from the Company only after
prior review and approval by the Investment Manager.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>SECTION 7. Performance of Duties &#151; Standard of Care</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Investment Manager shall comply with all laws and regulations issued from time to time in
the discharge of its duties under this Agreement and shall discharge such duties:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>solely in the interest of the enrolled Plan participants and for the exclusive
purpose of providing benefits to such participants and their beneficiaries and defraying
reasonable expense of administering the Plan;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>with the care, skill, prudence and diligence under the circumstances then prevailing
that a prudent man acting in a like capacity and familiar with such matters would use in
the conduct of an enterprise of a like character and with like aims;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>by diversifying, consistent with the Investment Guidelines, the Managed Assets in
the individual account of each Plan participant enrolled in the Service so as to
minimize the risk of large losses, unless under the circumstances it is clearly prudent
not to do so, to the extent</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->79<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>such diversification is appropriate and achievable with the investment options made
available under the Plan; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in accordance with the documents and instruments governing the Plan provided to
the Investment Manager or its agents, insofar as such documents and instruments are
consistent with the provisions of ERISA; provided, however, that the duties of the
Investment Manager shall be governed exclusively by this Agreement to the extent that
the provisions of any such Plan documents are inconsistent with this Agreement.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regardless of whether the Plan is subject to ERISA, the Investment Manager will perform all of
its duties hereunder as if the Plan were in fact subject to ERISA.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>SECTION 8. Limitation on Duties.</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any provision of this Agreement, the Investment Manager shall
have no duty to advise the Company or any other person with respect to the investment options
available under the Plan, or to exercise management authority to add or remove any such investment
options to or from the Plan. The Investment Manager shall have no duty or authority to advise or
make recommendations to the Company with respect to any other matter, including without limitation,
the impact of Plan rules on the management or diversification of Managed Assets<I>.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>SECTION 9. Confidential Information; Other Clients and Services</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any information or recommendations supplied by the Investment Manager in connection with the
Service, which are not otherwise in the public domain or previously known to the Company, are to be
regarded as confidential and for use only in connection with Managed Assets under this Service by
enrolled Plan participants, the Company, the Trust, the Trustee or its agent, or such persons the
Company may designate in connection with the Managed Assets.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The parties acknowledge that the Investment Manager may provide similar services to other
Trusts and Plans, and that nothing in this Agreement shall require the Investment Manager to
disclose to the Company, the Plan or its participants the existence of such other engagements, or
prohibit the Investment Manager from rendering services to such other clients. The Company
acknowledges that the Investment Manager may use identical, similar or different investment
methodologies in providing education or other investment services, such as Fidelity
PortfolioPlanner, to this Plan or its participants, or to other Plans, participants or clients.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>SECTION 10. Prohibited Transaction Class&nbsp;Exemption 77-4</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company acknowledges that the Investment Manager is affiliated with other
entities that may receive asset-based compensation in connection with the investment options
offered under the Plan, including but not limited to Fidelity Mutual Funds.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The parties acknowledge that this Service, to the extent it would otherwise constitute a
prohibited transaction exemption, is intended to comply with Prohibited Transaction Class&nbsp;Exemption
77-4, as it may be amended from time to time (PTCE 77-4), with respect to Fidelity Mutual Funds.
To that end, the Company acknowledges that it is independent of the Investment Manager within the
meaning of PTCE 77-4, that it has received prospectuses for the Fidelity Mutual Funds available
under the Plan, and a full and detailed disclosure of the investment advisory and other fees
charged to or paid by the Plan with respect to this Service and the investment company(ies). The
Company further acknowledges that it has received an explanation of the reasons why the Investment
Manager may consider purchases or sales of Fidelity Mutual Funds for accounts of Plan participants
electing the Service. On the basis of <I>such</I>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->80<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">disclosures, the Company hereby authorizes the purchase and sale of Fidelity Mutual Funds for
accounts of Participants electing this Service in accordance with the terms of this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>SECTION 11. Assignment of Agreement or Duties</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No party may assign this Agreement, in whole or in part, nor delegate except as contemplated
herein all or part of the performance of duties required of it by this Agreement without the prior
written consent of the other party, and any attempted assignment or delegation without consent
shall be void.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>SECTION 12. Applicable Law.</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement shall be administered and construed according to the laws of the Commonwealth
of Massachusetts, except as superseded and preempted by ERISA.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>SECTION 13. Construction; Validity</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wherever possible, this Agreement shall be construed in a manner that is consistent with the
Trust Agreement provisions governing the Service. An adjudication or other determination that a
provision of this Agreement is invalid or unenforceable shall not affect the validity or
enforceability of any remaining provision of this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>SECTION 14. Termination</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(a)&nbsp;This Agreement shall continue in effect until 1) the termination of recordkeeping
services to the Plan by an affiliate of the Investment Manager; or 2) a specified date at
least sixty (60)&nbsp;days after notice of termination has been provided from any party to the
other party.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(b)&nbsp;Notwithstanding the foregoing, the Company may at any time without prior notice order the
Investment Manager to cease activity, subject to completion of the execution of investment
directions already in process with respect to the Managed Assets. Such order to cease
activity may be communicated orally subject to immediate written confirmation to the
Investment Manager.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(c)&nbsp;Nothing herein shall prohibit the Investment Manager from terminating management of any
individual participant&#146;s Plan account in accordance with the provisions governing termination
of the Service to a participant set forth in the Trust Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(d)&nbsp;If this Agreement is terminated during any period of time for which the Investment
Manager has not been compensated, the fee due to the Investment Manager for such period shall
be prorated to the date of termination.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(e)&nbsp;The indemnification obligations hereunder shall survive termination.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>SECTION 15. Notices</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any notice, instruction, request, consent, demand or other communication required or
contemplated by this Agreement to be in writing, shall be given or made if communicated by United
States first class mail (or by FAX followed immediately by United States first class mail),
addressed as follows:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="4%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="57%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">If to the Company:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Expedia, Inc.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">3150 139<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> Avenue SE</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Bellevue, Washington 98005</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">If to the Investment Manager:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Strategic Advisers, Inc.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">82 Devonshire Street</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Boston, Massachusetts 02109</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->81<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">provided that each party shall, by written notice, promptly inform the other party of any change of
address and provided further that any written communication from the Company contemplated hereunder
shall be signed by a person authorized to act on behalf of the Company, acting in its capacity as
Named Fiduciary, under the Trust Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>SECTION 16. Entire Agreement; Amendment</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement and any exhibits hereto, as well as any provisions of the Trust Agreement
governing the Service constitute the entire agreement and understanding among the parties hereto,
and may not be modified or amended except by a writing executed by the parties.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>IN WITNESS WHEREOF</B>, the parties hereto have executed this Agreement as of the effective date noted
above.
</DIV>
<P><DIV style="position: relative; float: left; width: 50%">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;
</DIV>
</DIV>
<DIV style="position: relative; float: right; width: 48%">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">EXPEDIA, INC.
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">BY:</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><BR><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>Date</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
Printed Name
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 18pt">STRATEGIC ADVISERS, INC.
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">BY:</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><BR><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>Date</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>Printed Name
</DIV>

</DIV>
<BR clear="all"><BR>

<P align="center" style="font-size: 10pt"><!-- Folio -->82<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>EXHIBIT A</B></U>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U><B>FIDELITY RETIREMENT PLAN MANAGER<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> FEES</B></U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The annual advisory fee for Fidelity Retirement Plan Manager<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> will be assessed based on
a percentage of the average daily balance of assets in the Plan account of each electing
participant. The advisory fee will be charged to cover ongoing management of the assets in such
participant&#146;s Plan account, and related servicing and communication. The fee is payable quarterly
in arrears, and will be calculated on the basis of daily participant balances, generally on the
25<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> day of the last month of the participant statement cycle quarter (or the next
business day if the 25<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> is not a business day). In the event a participant&#146;s
participation in the Service is terminated before the end of a quarter, the fee will be prorated
based on the number of days the account was managed during the quarter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Unless paid by the Sponsor, the Trustee or its agent will redeem investments in the amount of the
fee directly from the electing Plan participant&#146;s plan account on the business day following the
fee calculation. This amount will be noted on the participant&#146;s statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The annual advisory fee will be calculated by deducting a credit amount (&#147;Credit Amount&#148;) from the
maximum annual gross advisory fee. The annual gross fee amount is 1.10% for the first $50,000 in
assets, with breakpoints that reduce the fee for higher balances to as low as 0.85%. This figure is
then reduced by a Credit Amount of at least 0.50%. The gross advisory fee, breakpoints, minimum
credit amount and maximum net advisory fee are set forth in the following schedule.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Fidelity Retirement Plan Manager</B><SUP style="font-size: 85%; vertical-align: text-top"><B><SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></B></SUP>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>ANNUAL ADVISORY FEE SCHEDULE</B>

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="64%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Maximum annual</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Minimum credit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Maximum annual net</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">Average daily assets</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">gross advisory fee</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">amount</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">advisory fee</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Up to $50,000</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.10</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.50</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.60</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">For the next
$200,000 or portion
thereof</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.00</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.50</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.50</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">For the next
$250,000 or portion
thereof</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.90</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.50</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.40</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">All additional assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.85</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.50</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.35</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The purpose of the Credit Amount is to reduce the annual advisory fee by the amount of
asset-based fees, if any, Strategic Advisers or its affiliates receive for management of
Fidelity-Mutual Funds in which Managed Assets are invested, and for management or other services
related to any other investment option offered under the Plan in which Managed Assets are invested.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This Credit Amount will be calculated daily in the following manner. For each investment option in
an enrolled Plan participant&#146;s account, an amount will be calculated equal to the greater of: (i)
an amount equal to .50% per annum of all assets in that investment in such account; and (ii)&nbsp;either
(a)&nbsp;the actual underlying investment management fees paid to Strategic Advisers or its affiliates
from such investment if it is a Fidelity Mutual Fund (but not other fund expenses such as transfer
agency fees); or (b)&nbsp;any servicing or other fees paid to any Fidelity Investments<FONT style="font-family: Symbol">&#210;</FONT> company
based on assets or participants in any investment option other than Fidelity Mutual Funds. The
resulting amounts for the funds in an electing Participant&#146;s account will be added together to
arrive at the total Credit Amount for such account. The total
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->83<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Credit Amount will be applied against the gross fee
for such account to arrive at the net fee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Such amounts shall be paid by the Company, if not deducted and paid from the accounts of
enrolled Plan participants or otherwise from Plan assets.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The annual advisory fee shall be charged in addition to any applicable purchase fee, short-term
trading fee, or similar fee payable to the applicable Mutual Fund, or any fee paid to the
Investment Manager or its affiliates for services rendered to the Plan (including trustee or
recordkeeping services) or to the investment options offered under the Plan.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->84<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>EXHIBIT B</B></U>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U><B>INVESTMENT GUIDELINES FOR</B></U>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U><B>FIDELITY RETIREMENT PLANMANAGER</B><SUP style="font-size: 85%; vertical-align: text-top"><B><SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></B></SUP></U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Investment Manager shall manage eligible assets in an enrolled participant&#146;s Plan account,
by selecting from among the investment options available to enrolled participants, in order to
provide diversification appropriate for retirement investors with time horizons, financial
situations and risk tolerance similar to the enrolled participant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Investment Manager shall establish target asset mixes that provide appropriate risk/reward
trade-offs for various investor types found among participants in workplace savings plans, and
shall assign each enrolled participant to the appropriate target asset mix based upon responses to
standard questions provided by the enrolled participant. The target asset mixes shall have the
following investment objectives:
</DIV>
<DIV align="left" style="font-size: 10pt; margin-left: 3%; margin-top: 6pt">Conservative: Income and conservative appreciation<BR>
Balanced: Capital appreciation and income<BR>
Growth: Growth<BR>
Aggressive Growth: Aggressive growth
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Investment Manager may establish additional target asset mixes, upon notice to the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Enrolled participant assignments to target asset mixes shall be reviewed annually and also whenever
an enrolled participant alerts the Investment Manager to a change in his or her situation. If
appropriate, a new target mix will be assigned.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Investment Manager shall design model portfolios appropriate for each target asset mix by
selecting a combination of available investment options that tracks the risk and diversification
attributes of the target asset mix, within an appropriate range. The Investment Manager shall
consider other assets identified by the enrolled participant as retirement savings (including
amounts held in other plans or accounts serviced by its affiliates) in determining a target asset
mix appropriate for the participant, but shall not take such assets into account when constructing
or assigning model portfolios to the enrolled participant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Investment Manager shall invest eligible amounts held in, or contributed to, the accounts of
enrolled participants in accordance with the model portfolio, as it may be adjusted from time to
time for market fluctuation, provided that the Investment Manager shall not manage amounts held in
company stock, or contributions required to be invested in company stock. Enrolled participant
accounts may be rebalanced at any time they deviate from the market-adjusted model portfolio by
more than an appropriate drift allowance, as determined by the Investment Manager. The Investment
Manager may change the model portfolios as appropriate for changes in the Plan&#146;s investment
options, market performance or economic conditions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Investment Manager shall have no independent obligation to value assets under its management,
but shall instead rely upon valuations provided by the Trustee or its agent, or an external money
manager, if applicable.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->85<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>Special Guidelines for Company Stock Holdings</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Investment Manager will not invest Managed Assets in Company Stock. An enrolled Participant
whose Plan account is invested in Company Stock will be offered the choice whether to have the
Investment Manager ignore such holdings in assigning a target asset mix to the Participant or
assign a target asset mix that counterbalances the risk characteristics associated with an
investment in a single security. If a Participant elects to counterbalance the Company Stock
holdings, the Investment Manager will assign the Participant to one of several target asset mixes
established by the Investment Manager that account for varying levels of Company Stock in ten per
cent increments, based on the Participant&#146;s level of Company Stock holdings in his or her Plan
account. The Investment Manager will then assign a model portfolio to the account pursuant to
which the Participant&#146;s non-Company Stock assets will be invested that is designed to
counterbalance the risk characteristics of the percentage of Company Stock reflected in the
Participants&#146; assigned target asset mix.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Investment Manager shall not make decisions with respect to the exercise of any rights accruing
to investment options, including without limitation, shareholder rights to vote proxies or tender
or exchange shares, or rights arising out of bankruptcy or litigation. Decisions with respect to
the exercise of any such rights shall be made in accordance with the provisions of the Trust
Agreement, and the Investment Manager shall not be required to take such matters into account in
making its investment decisions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Universe:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Managed Assets of enrolled Participants may be invested in any investment options available for new
investment by enrolled Participants other than Company Stock.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Restrictions:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Managed Assets of enrolled participants will not be invested in any Company Stock. For the
purposes of these Investment Guidelines, Company Stock includes the stock of an issuer that no
longer constitutes securities of an employer corporation under the Employee Retirement Income
Security Act of 1974, as amended, or employer securities under the Internal Revenue Code of 1986,
as amended.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Managed Assets of enrolled participants will not be invested in any investment option that is
closed to new investment by eligible participants.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Managed Assets of enrolled participants will not be invested in strategy funds, lifestyle funds or
specialty funds. The Named Fiduciary shall have the right to impose reasonable restrictions upon
Strategic Advisers with respect to investment management, other than those set out here, provided
that it shall first propose such restrictions in writing to Strategic Advisers, and provided that
Strategic Advisers shall have 20 business days to determine whether such restriction is reasonable.
</DIV>
<P><DIV style="position: relative; float: left; width: 45%">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">EXPEDIA, INC.
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">By:</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><BR><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>Date</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Name:</TD>
    <TD>&nbsp;</TD>
    <TD><BR><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>
</TABLE>
</DIV>
</DIV>
<DIV style="position: relative; float: right; width: 45%">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">STRATEGIC ADVISERS INC.
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">By:</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><BR><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>Date</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Name:</TD>
    <TD>&nbsp;</TD>
    <TD><BR><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>
</TABLE>
</DIV>
</DIV>
<BR clear="all"><BR>

<P align="center" style="font-size: 10pt"><!-- Folio -->86<!-- /Folio -->
</DIV>

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