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| Hotel Reservations Network, Inc. |
| 8140 Walnut Hill Lane, Suite 203, Dallas, TX 75231 * (214) 361-7311 |
| Business Description | The company is a leading online consolidator of hotel accommodations, providing service through their websites, affiliated websites and their toll-free call center. |
| Offering Information Company has | |||
| Trading As | ROOM (NASNTL) | Industry | Internet (SIC 7389) |
| Type of Stock Offered | Class A Common Shares | Filing Date | 11/9/99 |
| Domestic Shares Offered | 5,400,000 | Offer Date | 2/24/00 |
| Foreign Shares Offered | 0 | Filing Range | $11.00 - $13.00 |
| Company Shares | 5,400,000 | Offer Price | $16.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.120 |
| Gross Proceeds | $86,400,000 | Selling | $0.670 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 54,400,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Donaldson, Lufkin & Jenrette Securities Corp. | Lead Manager | (212) 371-0641 |
| Allen & Company Incorporated | Co-manager | (212) 339-2220 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-4850 |
| DLJDirect, Inc. | Co-manager | (800) 825-5723 |
| Thomas Weisel Partners LLC | Co-manager | (415) 364-2500 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/96 | 12/31/97 | 12/31/98 | 9/30/98 | 9/30/99 | ||
| Revenues | - | - | 23.275 | 34.758 | 66.472 | 40.794 | 108.371 |
| Income from Oper. | - | - | -0.203 | -0.468 | 0.758 | 3.980 | 0.588 |
| Net Income | - | - | -0.087 | -0.010 | 1.738 | 4.456 | 1.360 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | 49.34 | 91.242 | 165.65 | ||
| Net Income Growth (%) | - | - | - | - | -69.48 | ||
| Oper. Profit Margin (%) | - | - | - | - | 1.14 | 0.54 | 9.76 |
| Net Profit Margin (%) | - | - | - | - | 2.61 | 1.25 | 10.92 |
| Cash Flow - Oper. | 8.85 | 12.77 | - | ||||
| Cash Flow - Inv. | -4.21 | -2.89 | - | ||||
| Cash Flow - Fin. | -2.50 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/99 | Financial Ratios | ||||
| Total Assets | 208.51 | Current Assets | - | Current Ratio | - |
| Total Liab. | 76.87 | Current Liab. | - | Debt Ratio | 36.87% |
| Total Equity | 131.63 | Working Cap. | - | Debt to Equity Ratio | 0.58 |
| Cash | 7.94 | Return on Assets | 0.65% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes including working capital to support the continued expansion of operations, including expenses associated with enhancing our websites, capital expenditures and strategic acquisitions. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Paul, Weiss, Rifkind, Wharton & Garrison |
| Bank's Law Firm | Davis, Polk & Wardwell |
| Auditor | Grant Thornton |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| USA Networks, Inc. | 100.00 | |
| Note: represents ownership of 5% or more prior to the offering. | ||