London & Berne, Switzerland - May 22, 2002 - Yahoo! Europe, which provides communications, commerce and media services through nine local Yahoo! sites, and eBay, the world's online marketplace, today announced a significant marketing relationship on five of Yahoo! Europe's properties across six European countries.

Under the terms of the multi-year agreement, eBay will advertise throughout the Yahoo! Europe network in the UK & Ireland, France, Germany, Italy and Spain. Together, the two companies will develop an extensive marketing effort that will include a wide range of banner advertisements, text links and other online advertising tools. In addition, eBay will be named and featured as the preferred online auction service on Yahoo! in these countries.

The marketing relationship between the two companies was developed following Yahoo! Europe's decision to suspend its auction service in these six countries, consistent with Yahoo!'s company-wide approach to focus on areas that will drive long-term growth and profitability. Yahoo! Europe's resources will be redeployed toward key growth areas within its commerce platform, which includes Yahoo! Shopping and Yahoo! Travel. Auction services across the rest of the Yahoo! global network are not affected by this agreement.

"This is an outstanding move for Yahoo! Europe, both strategically and financially. We will be able to better utilize our resources to more effectively focus on initiatives where we can extend our leadership position and that will drive long-term growth for the company," said Mark Opzoomer, managing director of Yahoo! Europe. "At the same time, eBay will become one of our most significant marketing partners in Europe."

"We're very pleased to be working with Yahoo! in Europe," said Michael van Swaaij, managing director of eBay Europe. "Yahoo! will help us extend the eBay brand to new users. In the near term, we look forward to welcoming Yahoo! Auctions users to our site."

Within the next few weeks, Yahoo! Europe will no longer be accepting new submissions for sale on Yahoo! Auctions in UK & Ireland, France, Germany, Italy and Spain. The service will then be suspended within six weeks. Yahoo! will ensure that affected auctions users are kept well informed of any developments.


About Yahoo! Europe
Yahoo! Europe provides communications, commerce and media services across its eight sites in Europe to meet the needs of local consumers. Yahoo! Europe is comprised of the Yahoo! sites for the UK & Ireland (www.yahoo.co.uk), France (www.yahoo.fr), Germany (www.yahoo.de), Italy (www.yahoo.it), Spain (www.yahoo.es), Catalán (www.ct.yahoo.com) and the Nordic region, including Denmark (www.yahoo.dk), Sweden (www.yahoo.se) and Norway (www.yahoo.no). The Yahoo! offices in London, Paris, Munich, Milan, Madrid and Copenhagen are staffed by local nationals and Yahoo! Europe is headquartered in central London.

About Yahoo! Inc.
Yahoo! Inc. is a leading provider of comprehensive online products and services to consumers and businesses worldwide. Yahoo! reaches more than 237 million individuals worldwide each month, and is the No. 1 Internet brand globally. Headquartered in Sunnyvale, Calif., Yahoo!'s global network includes 25 World properties and is available in 13 languages.


About eBay
eBay is The World's Online Marketplace™. Founded in 1995, eBay created a powerful platform for the sale of goods and services by a passionate community of individuals and businesses. On any given day, there are millions of items across thousands of categories for sale on eBay. eBay enables trade on a local, national and international basis with customized sites in markets around the world.

Media Contacts:

Yahoo! Europe (London)
Sue Jackson Tel: (44) 20 7808 4526 suej@uk.yahoo-inc.com

Yahoo! Inc.
Scott Morris Tel: (408) 349-6347 smorris@yahoo-inc.com
Nicole Waddell Tel: (503) 221-2368 waddelln@fleishman.com

ebay
Kevin Pursglove Tel: (408) 376-7458 kevinp@ebay.com