July 26, 2000

LookSmart Named Exclusive Web Directory on AltaVista

SAN FRANCISCO--(BUSINESS WIRE)--July 26, 2000--LookSmart (Nasdaq:LOOK), the global leader in Internet search infrastructure, today announced that is has been selected as the exclusive web directory by AltaVista.

Under the agreement, LookSmart will be the sole directory provider on AltaVista and will work with the leading knowledge portal to create a customized directory for its millions of users.

"We're extremely pleased that AltaVista has chosen LookSmart's web directory to be its exclusive category directory," said Evan Thornley, chairman and chief executive officer at LookSmart. "AltaVista understands the importance of providing its users with the highest quality search experience possible and is committed to delivering the most relevant results possible. LookSmart is proud to help them meet their needs by offering the best directory on the Web, and by offering them incremental revenue opportunities through Express Submit(sm)."

LookSmart's expanded relationship with AltaVista is being announced today along with LookSmart's Express Submit product for small and mid-sized businesses (launched today in a separate press release). Express Submit is now available on the LookSmart network, including AltaVista and other major sites. Now, merchants and owners of web sites can submit their sites into the LookSmart directory through AltaVista and be guaranteed that their site will be reviewed within 48 hours for a one-time fee of $199, and, if approved, included in the directory.

"As a leading knowledge portal, directory continues to be a strategic part of our search offering," said Rod Schrock, president and CEO, of AltaVista. "Now with the most customizable directory and industry-leading relevancy, AltaVista will continue to deliver the highest-quality results to our 65 million unique users."

In addition to AltaVista, LookSmart distributes its search and directory to Microsoft, Netscape Netcenter, Excite@Home, Time Warner Inc., Sony, BT, Road Runner, Prodigy, US West, NetZero, and 370 other partners. LookSmart's distribution network of partner sites reaches more than 58 million users—more than 3 out of 4 Internet users (77 %)—in the United States each month.

LookSmart's directory will be fully incorporated into AltaVista in August.

About LookSmart
LookSmart is the global leader in Internet search infrastructure, dedicated to helping the world find useful information quickly. LookSmart's distribution network of partner sites reaches more than 58 million users—more than 3 out of 4 Internet users (77 %)—in the United States each month. The company provides its search solutions to leading Internet portals, ISPs and Web sites including Microsoft's MSN, Netscape Netcenter, AltaVista, Excite@Home, Time Warner Inc., Sony, BT, Road Runner, Prodigy, US West, NetZero, over 370 Internet service providers and thousands of Web sites. LookSmart's search solutions include a collection of more than 2,000,000 high-quality URLs organized into 200,000 categories. LookSmart has built Web directories for 30 countries, including the United States, UK, Canada, Australia, Japan, Korea, Mexico and Brazil. Through its partnership with Cox Interactive Media, LookSmart also offers one of the largest collections of quality local Web content in more than 70 US markets. LookSmart is the official search infrastructure provider for www.Olympics.com, the official Web site of the Sydney 2000 Olympic Games. The company is headquartered in San Francisco and can be contacted at 415/348-7000.

Forward-Looking Statements
This press release contains forward-looking statements based on our current expectations and projections about our industry and our management's beliefs and assumptions. Words such as "will," "expects," "intends," "plans," "believes," "may," 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 for various reasons, such as the possibility that AltaVista users will not utilize our directory services at projected rates; our potential failure to establish an effective working relationship with AltaVista and our other partners; our potential inability to aggregate a large amount of Internet traffic from the AltaVista sites and monetize that traffic through advertising and other revenue streams; our potential inability to generate sufficient listings and advertising revenue to reach profitability; our potential failure to create and maintain custom directories for AltaVista; and other risks outlined in our annual report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission.

CONTACT: LookSmart
Liz Connaghan, 415/348-7185

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