Dara Khosrowshahi EVP

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Dara KhosrowshahiEVP Chief Financial Officer
Deutsche Bank Media Conference June 9, 2004
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Important
Safe Harbor Statement Under The Private
Securities Litigation Reform Act Of 1995    This
presentation contains forward-looking
statements within the meaning of the Private
Securities Litigation Reform Act of 1995,
particularly statements anticipating future
growth in revenues and operating income before
amortization. Words such as believes, could,
expects, anticipates, estimates, intends,
plans, projects, seeks, or similar
expressions used in connection with any
discussion of future operating or financial
performance identify forward-looking statements.
These forward-looking statements are necessarily
estimates reflecting the best judgment of IACs
senior management and involve a number of risks
and uncertainties that could cause actual results
to differ materially from those suggested by the
forward-looking statements. These risks and
uncertainties are described in IACs filings with
the U.S. Securities and Exchange Commission (the
SEC), including its Annual Report on Form 10-K
for the fiscal year ended 2003, especially in the
Risk Factors and the Managements Discussion and
Analysis sections, its Quarterly Reports on Form
10-Q and its Current Reports on Form 8-K. Other
unknown or unpredictable factors also could have
material adverse effects on IACs future results,
performance or achievements. In light of these
risks and uncertainties, the forward-looking
events discussed in this presentation may not
occur. You are cautioned not to place undue
reliance on these forward-looking statements,
which speak only as of the date stated, or if no
date is stated, as of the date of this
presentation.   IAC is not under any obligation
and does not intend to make publicly available
any update or other revisions to any of the
forward-looking statements contained in this
presentation to reflect circumstances existing
after the date of this presentation or to reflect
the occurrence of future events 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.
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Supplying Demand
60 Billion
Customer data includes duplication.
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Adding Value
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Operating Multiple Brands
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Delivering Strong Results LTM
in millions
Electronic Retailing
Ticketing
IAC Travel
1,813 revenue548 OIBA 30 margin
2,288 revenue202 OIBA 9 margin
750 revenue150 OIBA 20 margin
IAC Local Media Services
Financial Services Real Estate
Personals
193 revenue35 OIBA 18 margin
254 revenue19 OIBA 8 margin
161 revenue 21 OIBA 13 margin
Segment results for last twelve months (Q2 03
Q1 04). IAC Travel revenue as if Hotels.com on
net basis.
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Leading the Market
Electronic Retailing
Ticketing
IAC Travel
2T market53B online 6B TV28 share of TV2
28B market3B online66 share online1
220B market44B online20 share online 1
IAC Local Media Services
Financial Services Real Estate
Personals
1.5B market450M online30 share online1
60B market4B online
5T market185B online20 share
online2
Ticketing includes event and movie ticketing.
Data based on Jupiter and IAC estimates. Local
includes directional advertising (newspapers,
yellow pages, and coupons) only excludes local
TV/radio.
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Mining Big Opportunities
Electronic Retailing
Ticketing
IAC Travel

• Online migration
• Corporate
• International
• Destination services

• Close gap w/ QVC
• Multi-channel
• Turnaround Germany

• Unsold tickets
• Box office share
• Direct marketing
• International

IAC Local Media Services
Financial Services Real Estate
Personals

• 90 mm singles
• Matching technology
• International
• Social networking

• Search
• Pay for performance
• Digital offers

• Online migration
• Real estate
• New products

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Travel
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IACT Portfolio
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IACT Portfolio vs. Competitors
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IACT is Outpacing the Market
in millions
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U.S. Hotel Occupancy Rates
Source Smith Travel Research
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IACT Key Challenges

• Occupancy rates
• Marketing costs
• Pricing
• Raw margins

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Worldwide Opportunity
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Europe is Tracking the U.S.
in millions
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IACT Waves of Growth
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Integrating Naturally
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Integrating Naturally

• 58mm intra-IACT in Q1
• 75mm in sourcing savings over 3 yrs.
• Best practices
• Paid search marketing
• Credit fraud protection
• Information technology
• People movement
• Shared learning expertise

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Growth
in millions
2003 and 2008 total OIBA is after corporate and
other expenses.
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IACs Competitive Advantage

• 43 leading brands
• Strong balance sheet
• Ability to invest aggressively in new growth
  areas
• Shared learning and natural relationships across
  Businesses
• Diversity reduced volatility

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Harnessing the power of interactivity to make
peoples lives easier,everywhere and everyday.
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Reconciliations
in millions
LTM results for Financial Services and Real
Estate include LendiingTree as of Q1 2003.
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