Dara Khosrowshahi EVP & CFO, IAC

1. Dara KhosrowshahiEVP & CFO, IAC Piper Jaffray Technology Conference May 20, 2004

2. $60 Billion in Demand Goods = $2B Travel = $10B Tickets = $5B Personals = $0.2B Local Transactions = $7B Mortgages = $36B IAC 40 MM customers 180 MM transactions 140K suppliers Customer data includes duplication.

3. IAC aggregates SUPPLIERS CONSUMERS World Leading Consumer Brands Technology &Innovation Scale &Infrastructure MerchandisingExpertise Multi-Vertical Capital Choice / Product Depth Customer Acquisition Multiple Distribution Channels Convenience / Ease of Use Market Segmentation Great Values Marketing Strength Information / Local Relevance Exclusivity / Uniqueness Yield Management Beneficial Relationships

4. IAC’s Brands IAC Travel Electronic Retailing Ticketing IAC Local & Media Services Financial Services & Real Estate Personals

5. Segment Results LTM $ in millions IAC Travel Electronic Retailing Ticketing $1,813 $548 – – Revenue OIBA $2,288 $202 – – Revenue OIBA $750 $150 – – Revenue OIBA 30% – Margin 9% – Margin 20% – Margin IAC Local & Media Services Financial Services & Real Estate Personals $193 $35 – – Revenue OIBA $254 $19 – – Revenue OIBA $161 $21 – – Revenue OIBA 18% – Margin 8% – Margin 13% – Margin IAC Travel assumes Hotels.com revenue on a net basis. Financial Services & Real Estate includes LendingTree for the full period.

6. Category Leaders U.S. IAC Travel Electronic Retailing Ticketing $220B total $44B online 20% online share #1 position $2T total $6B TV / $53B online 28% TV share #2 position $28B total $3B online 66% online share #1 position IAC Local & Media Services Financial Services & Real Estate Personals $1.5B total $450M online 30% online share #1 position $5T total $185B online 20% online share #2 position $60B total $4B online 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.

7. Large Opportunities in Every Business IAC Travel Electronic Retailing Ticketing • U.S. travel only ~25% online • Int’l travel = $630B • Corporate travel = $125B • QVC = 2.2x revenue, 4.5x EBITDA • “Love the Customer” • 525 mm tickets in our system; 61% go unsold • Box office migration • Direct marketing to 20 mm registered users IAC Local & Media Services Financial Services & Real Estate Personals • U.S. local advertising = $60B • U.S. local search = $1B • 14 mm merchants; 80,000 IAC customers • Consumer lending = $5T • LendingTree 0.7% share; broadening product base • Real estate = $60B in commissions • $450 mm category • 1 mm subscribers • 22 mm worldwide monthly unique users Local includes directional advertising (newspapers, yellow pages, and coupons) only; excludes local TV/radio.

8. Travel Strategy

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

10. IACT Portfolio vs. Competitors

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

12. Worldwide Travel Opportunity

13. 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 $1 Personals $31 Local Services $26 15% to 20% 80% to 90% 25% to 30% $280 45% to 50% $130 $100 $150 Long Term Goals $ in millions 2003 and 2008 total OIBA is after corporate and other expenses.

14. 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

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

16. 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.

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