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NORTH PALM BEACH, FL
- January 14, 2000 - Bankrate Inc. (NASDAQ: ILIF) today announced revenues
for the year ended December 31, 1999 of $12.1 million compared with revenues
for the years ended December 31, 1998 and 1997 of $5.6 million and $3.1
million, respectively. These revenues represent an increase of 116% in
1999 compared to an increase of 81% in 1998.
"Achieving revenues in excess of $12 million
presents a significant achievement for Bankrate Inc.," said Bill
Anderson, President and CEO. "This increase is particularly significant
since many of our new online sites including GreenMagazine.com, Bankrate.com
Taxes and Consejero.com have not yet begun to produce significant revenues."
Revenues for the quarter ended December 31, 1999 were $3.7
million compared to $1.9 million and $0.9 million for the same periods
in 1998 and 1997, respectively.
The Company is currently completing comprehensive financial
statements for 1999 and expects to issue those results in early February.
About Bankrate Inc.
Based in North Palm Beach, Fla., Bankrate Inc. (Nasdaq:
ILIF
- news)
is an industry leader in creating, producing and syndicating personal
finance information for the online consumer public through a broad portfolio
of Web sites, print publications and broadcast segments. The company's
personal finance portal, www.Bankrate.com,
features original content that deals with financial planning, taxes, insurance,
investing and banking. The portal serves as a gateway to Bankrate Inc.'s
family of sites, including the award-winning bankrate.com,
theWhiz.com, greenmagazine.com
and newly launched IntelligentTaxes.com.
Content from Bankrate Inc. is published on co-branded Internet sites through
more than 70 distributors, including NBC Internet, Inc., Yahoo!, CNN,
America Online and Smart Money. The company's original research is also
distributed through more than 70 national and state publications. Bankrate
Inc. sites have approximately one million unique visitors per month, according
to Media Metrix.
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