LONDON--(BUSINESS WIRE)--April 10, 2000--LookSmart (Nasdaq:LOOK), a global leader of Internet search infrastructure, and BT (British Telecommunications) (NYSE:BTY) today announced that their joint venture, BT LookSmart, Ltd., has been selected by Excite, one of the best-known portal brands on the Internet, to provide additional directory services in both the U.K. (www.excite.co.uk) and Netherlands (www.nl.excite.com).
Under the agreement, BT LookSmart will provide Excite users in both countries with Web directories built specifically for the U.K. and Netherlands, providing locally relevant, culturally sensitive search results. Excite users will also have immediate access to LookSmart's world directory of over 1.5 million URLs organized into more than 100,000 categories.
"BT LookSmart is committed to delivering the unique power of relevant search services to the Excite sites," said Tim Pethick, vice president of international at LookSmart. "Because we can provide a best-of-breed search solution and maximize the monetization opportunities through search on partners' sites, BT LookSmart is continuing to gain momentum throughout Europe and Asia. We're looking forward to working together with Excite and to expanding the relationship as Excite continues to grow their user base and build out their network."
The BT LookSmart joint venture draws on the core assets and established expertise of both LookSmart and BT. It leverages both BT's customer base in Europe and Asia, which includes 35 million wireless customers and approximately 20 million Internet/telephone customers in the U.K., and LookSmart's world class search solutions for 25 countries. LookSmart's network of distribution affiliates reaches over 50 million users in the U.S., according to Media Metrix, and through the joint venture, will reach an additional 55 million potential Internet users through BT's global partners.
"We are pleased to team up with BT LookSmart to provide Excite users in the U.K. and the Netherlands additional European content. This will give our users an even more comprehensive choice in both countries, " said Ian Durndell, business development manager at Excite Europe. "BT LookSmart's ability to build quality directory products for these markets was the key factor in why we selected them."
LookSmart (Nasdaq:LOOK) is a global leader of Internet search infrastructure, dedicated to helping the world find useful information online. LookSmart's distribution network reaches over 50 million people a month -- nearly 74 percent of all Internet users in the U.S., according to Media Metrix -- through LookSmart and partner sites. LookSmart provides its search solutions to leading Internet portals, ISPs and Web sites including The Microsoft Network, Netscape Netcenter, Time Warner Inc., Excite@Home, Sony, BT, Road Runner, Prodigy, US West, AltaVista, NetZero, over 370 Internet Service Providers and thousands of Web sites. LookSmart has built Web directories for 25 countries, including the U.S., U.K., Canada, Australia, Japan, Korea, Mexico and Brazil. LookSmart's search solutions include a collection of over 1.5 million high quality URLs organized into more than 100,000 categories. Through its partnership with Cox Interactive Media, LookSmart also offers one of the largest collection of quality local Web content in more than 70 U.S. markets. The company is headquartered in San Francisco and can be contacted at 415/348-7000 or www.looksmart.com.
About BT LookSmart
BT LookSmart was created in November 1999 as a joint venture between LookSmart and BT with the aim of utilizing BT's global communications network and partner family to distribute LookSmart's locally relevant, culturally sensitive web directories throughout Europe and Asia. BT LookSmart's own intellectual property will add content and develop advanced applications including broadband and WAP (wireless application protocol), to create a new model for the portals market. The objective of BT LookSmart is to become the leader in online navigation and a significant player in portal development throughout Europe and Asia.
This press release contains forward-looking statements based on our current expectations and projections about our industry, our management's beliefs and assumptions made by us. Words such as "expects," "intends," "plans," "believes," "may," "will" and variations of these words or similar expressions are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These statements are not guarantees of future performance and are subject to risks and uncertainties. Our actual results could differ from those expressed in these forward-looking statements due to various risks, including the possibility that not all of BT's wireless, telephone and Internet customers will ultimately use the BT LookSmart search services; the potential inability to create and operate successful directories for Excite; the possibility that Excite's users will not utilize BT LookSmart's directory services; BT LookSmart's potential failure to establish an effective working relationship with Excite and other partners; the potential inability to aggregate a large amount of Internet traffic from the Excite sites and monetize that traffic through advertising and other revenue streams; and other risks outlined in LookSmart's annual report on Form 10-K filed with the Securities and Exchange Commission on March 30, 2000 and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission.
CONTACT: LookSmart, San Francisco
Liz Connaghan, 415/348-7185
Fodor Wyllie Associates
Prue Christie, 0181 541 4082 (U.K.)