Bankrate Inc. REPORTS ONLINE
REVENUE INCREASED BY 84%

Six-month online revenue grows 84% over same period in 1999
Per share net loss improves by $1.20 excluding restructuring charge and divestitures
Page views climb 96% for the six months in 2000 vs 1999

NORTH PALM BEACH, FLA. July 31, 2000 – Bankrate Inc., Inc. (NASDAQ: ILIF) today announced that online publishing revenue for the six months ended June 30, 2000 increased 84%, or $2,765,000, to $6,061,000 over the same period in 1999. Total revenue of $7,552,000 for the six-month period in 2000 was $2,514,000, or 50%, higher than the same period in 1999. Online publishing revenue for the quarter ended June 30, 2000 of $3,046,000 was $1,120,000, or 58%, higher than the comparable quarter in 1999. Total second quarter revenue of $3,796,000 was $984,000, or 35%, higher than the same quarter in 1999.

During the quarter ended June 30, 2000, the Company recorded a restructuring charge of $1,298,000 related to reducing staff levels and the write-off of certain assets. On July 14, 2000, the Company sold its online insurance business, Professional Direct Agency Inc. ("Pivot"), to a subsidiary of First Union Corporation for $4,350,000 in cash (not reflected in the accompanying condensed consolidated balance sheet). The net operating losses of Pivot for the three and six months ended June 30, 2000 were $1,782,000 and $3,368,000, respectively, which includes estimated losses through the sale date. These net operating losses are presented as discontinued operations in the Company’s condensed consolidated statements of operations.

Excluding the restructuring charge described above and the losses from discontinued operations of $1,782,000, the net loss for the quarter ended June 30, 2000 was $3,270,000, or $0.23 per share, compared to a net loss of $4,353,000, or $0.47 per share, for the comparable period in 1999. The net loss for the six-month period ended June 30, 2000, (excluding the restructuring charge and the loss from discontinued operations), was $8,796,000, or $0.64 per share compared to $12,232,000, or $1.84 for the same period in 1999.

The Company reported a net loss applicable to common stock of $6,350,000, or $0.45 per share, for the quarter ended June 30, 2000, compared to a net loss applicable to common stock of $4,353,000, or $0.47 per share, for the same quarter in 1999. The net loss applicable to common stock for the six months ended June 30, 2000 was $13,463,000, or $0.97 per share, compared to a net loss applicable to common stock of $12,232,000, or $1.84 per share, in the comparable period in 1999.

"Our year-to-date increase of 84% in online revenue is proof that our Company continues to make great strides in the Internet financial services category where bankrate.com is the leading financial services and e-commerce transaction site on the web today," explained Jeff Cunningham, chairman of the board of Bankrate Inc.

"With the sale of two of our sites, CPNet.com to Colleges.com and Pivot.com to First Union, and the pending sale of Consejero.com, we have successfully completed phase one of our refocusing plan to bring this Company to profitability," continued Cunningham. "These strategic moves both significantly conserve cash and allow greater focus on our core brand, bankrate.com, which we are now able to focus on and grow."

"The sale of these two properties has allowed recognized savings of over $600,000 a month. This significant reduction in our burn rate, coupled with the continual reduction in our expenses, all contribute to our bottom line success. Cost reduction efforts have been many and across various departments, including elimination of our broadcast group, significant reductions in marketing and PR, and reductions in force that bring us back to pre-IPO staffing levels," said Cunningham.

"Our Q2 numbers are encouraging and strong," stated Elisabeth DeMarse, President and CEO of Bankrate Inc. "The sale of two of our properties is an important milestone for us. Given the market condition, it’s an achievement that we were not only able to sell both sites, but also eliminate significant expenses and rebuild our balance sheet. These sales are a testament to the quality of our products and features."

"Our top line shows a unique ability to maximize revenue drivers in our business: with 84% growth year-over-year; we have nearly 300 finance and e-commerce advertisers; we have a strong renewal rate, and our $70-90 CPM per pageview is one of the highest in the industry. Plus, a majority of our advertising - more than 70% - is from the traditional financial services sector, so our source of revenue is much more stable than many other sites who rely primarily on .coms," continued DeMarse. "According to PC Data, bankrate.com is the 7th largest Finance News site. On average, we attract 1.3 million unique users per month with 4.7 page views per visit. According to Media Metrix and PC Data, we have a strong network effect, with over half our traffic coming from our affiliates, including AOL, Yahoo!, SmartMoney, Money and MSN. We are enjoying traffic growth at the same time many of our competitors are either declining or spending extravagantly on marketing. When coupled with the fact that bankrate.com’s typical CPM is up to 4 times greater than the industry average, the prospects are even brighter. We are making great, sustainable progress in building our core business and achieving our drive to profitability."

Growth Metrics:
Ad Views for the six-month period ended June 30, 2000 increased from 128 million in 1999 to 196 million in 2000.
The number of partners increased to 169.
Number of newsletter subscribers is 136,000
Gross margin grew from 28% in January to 52% in June.
Pageviews for the six-month period ended June 30, 2000 grew from 36.2 million in 1999 to 71.2 million in 2000, a 97% increase.

About Bankrate Inc.
Bankrate Inc. (NASDAQ:ILIF) is the Internet's leading consumer banking marketplace, with an average of 1.3 million unique visitors per month connecting with over 4,000 financial institutions in 126 markets in 50 states. Bankrate Inc. owns and operates a portfolio of personal finance channels, including banking, investing, taxes and small business finance. Its flagship site, bankrate.com, is the leading aggregator of over 100 financial products, including mortgages, credit cards, new and used auto loans, money market accounts and CD's, checking and ATM fees, home equity loans and online banking fees.

Bankrate Inc. provides financial applications and information to a network of over 120 partners including SNAP (NASDAQ: NBCI), Yahoo (NASDAQ: YHOO), America Online (NYSE: AOL), CNN and Smart Money. The company's information is also distributed through more than 120 national and state publications.

This press release may contain "forward-looking statements" relating to Bankrate Inc., Inc. Prospective investors and shareholders are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in Bankrate Inc.'s Annual Report on Form 10-K, as amended, for the year ended December 31, 1999, as well as in the Company’s other filings with the Securities and Exchange Commission. Bankrate Inc. undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results.