Dara Khosrowshahi EVP & Chief Financial Officer

1. Dara KhosrowshahiEVP & Chief Financial Officer Deutsche Bank Media Conference June 9, 2004

2. 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 IAC’s 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 IAC’s 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 Management’s 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 IAC’s 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.

3. Supplying Demand 40 mm Active CUSTOMERS 180 mm TRANSACTIONS Thousands of PRODUCTS & SERVICES 140,000 SUPPLY PARTNERS $60 Billion Customer data includes duplication.

4. IAC aggregates CONSUMERS SUPPLIERS Choice / Product Depth Customer Acquisition Leading Brands Innovation & Technology Scale Merchandising Capital Convenience / Ease of Use Multiple Distribution Channels Great Values Market Segmentation Marketing Strength Information / Relevance Yield Management Exclusivity / Uniqueness Adding Value

5. IAC Travel Electronic Retailing Ticketing IAC Local & Media Services Financial Services & Real Estate Personals Operating Multiple Brands

6. Delivering Strong Results LTM $ in millions IAC Travel Electronic Retailing Ticketing $1,813 revenue$548 OIBA30% margin $2,288 revenue$202 OIBA9% margin $750 revenue$150 OIBA20% margin IAC Local & Media Services Financial Services & Real Estate Personals $193 revenue$35 OIBA18% margin $254 revenue$19 OIBA8% margin $161 revenue$21 OIBA13% margin Segment results for last twelve months (Q2 ’03 – Q1 ’04). IAC Travel revenue as if Hotels.com on net basis.

7. Leading the Market IAC Travel Electronic Retailing Ticketing $220B market$44B online20% share online#1 $2T market$53B online; $6B TV28% share of TV#2 $28B market$3B online66% share online#1 IAC Local & Media Services Financial Services & Real Estate Personals $1.5B market$450M online30% share online#1 $60B market$4B online $5T market$185B online20% share online#2 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.

8. Mining Big Opportunities IAC Travel Electronic Retailing Ticketing • 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

9. Travel

10. $$$$ $ Packages Complex itineraries Business travel Air tickets Hotel rooms Rental cars Simple Complex IACT Portfolio

11. IACT Portfolio vs. Competitors

12. Expedia Travelocity Orbitz Hotels.com Priceline Trip Network IACT is Outpacing the Market $ in millions

13. Peak times Low times: hotels need help U.S. Hotel Occupancy Rates Source: Smith Travel Research

14. IACT Key Challenges • Occupancy rates • Marketing costs • Pricing • Raw margins

15. $3,000 $2.6 trillion $2,500 $2,000 DestinationServices Destination Destination Destination Destination Destination $1,500 Services Services Services Services Services $850 billion $1,000 Other Other Other Other Other Other $500 Europe Travel Travel Travel Travel Travel Travel $220 billion Europe Europe Europe Europe Europe U.S. US US US US US $- U.S. Global Global Travel+ Tourism Worldwide Opportunity

16. Gross Bookings U.S. (Jan ‘98 - Dec ‘00) Europe (Jan ‘02 - Mar ‘04) Europe is Tracking the U.S. $ in millions

17. 2002 Domestic 2004 Europe 2005 Corporate 2006 Classic 2007 Asia IACT Waves of Growth

18. Integrating Naturally

19. 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

20. 5-Year OIBA Goal = $3,000 CAGR Goal 2003OIBA = $860 $2,000 25% to 35% Travel $524 Goods $223 20% to 25% Ticketing $144 $550 Financial & Realty x Personals Local Services 15% to 20% 80% to 90% 25% to 30% $280 45% to 50% $130 $100 $150 Growth $ in millions 2003 and 2008 total OIBA is after corporate and other expenses.

21. IAC’s 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

22. Harnessing the power of interactivity to make people’s lives easier,everywhere and everyday.

23. Reconciliations $ in millions LTM results for Financial Services and Real Estate include LendiingTree as of Q1 2003.