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FOR IMMEDIATE RELEASE
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Media Contact: Investor Relations Contact:
Deborah Kazenelson Tom Sebastian
(310) 315-1199 x249 (310) 449-6505
[email protected] [email protected]
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L90, INC. TO ACQUIRE WEBMILLION
Acquisition to Complement L90's Direct Marketing Offerings
Los Angeles, CA - July 10, 2000 - L90, Inc. (Nasdaq: LNTY) today announced that
it has agreed to acquire webMillion, one of the Industry's leading direct
marketing promotions companies. Adding to L90's tremendous growth in the first
half of 2000, this acquisition is expected to enhance L90's sweepstakes,
promotions, and direct marketing business while strengthening the platform on
which it develops sophisticated, integrated advertising packages for its
clients.
"We are acquiring webMillion because of their well-developed direct marketing
capabilities," said John Bohan, CEO, L90, Inc. "Direct marketing is one of the
fastest growing parts of our business, and this acquisition directly complements
our full-service Internet advertising solution," he stated.
L90 and webMillion have already developed a very successful partnership
producing direct marketing programs for advertisers. L90 has been providing ad
sales representation and ad serving technology for the webMillion.com web site,
one of the top revenue generators on the L90 Network. In June of this year,
webMillion.com was ranked #8 in overall page views by PCData Online, and tallied
in excess of 340 million impressions in the month.
"We are very excited to be joining the L90 team," said Tony Hauser, president
and CEO of webMillion. "L90 is one of the most successful companies in the
Internet advertising and direct marketing space, and we look forward to building
the webMillion.com brand under its umbrella."
Under the terms of the merger agreement, L90 will issue 2.0 million shares of
L90 stock to the webMillion stockholders.
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About L90
L90 is a leading provider of comprehensive online advertising and direct
marketing solutions for advertisers and Web publishers. L90 designs, develops
and implements sophisticated advertising campaigns that go beyond traditional
banner advertising to include sponsorships, co-branded microsites, content
integration, sweepstakes, rich media, viral marketing programs, e-mail marketing
and other innovative Internet marketing techniques. adMonitor(TM), L90's
proprietary ad serving and tracking technology, offers advertisers and Web
publishers the ability to selectively target ads to Web users based upon their
specific interests and characteristics. adMonitor also enables advertisers to
track, measure and manage the effectiveness of their ad campaigns in real time.
Headquartered in Los Angeles, L90 has additional offices in New York, San
Francisco, Chicago, Detroit and London. L90's advertising clients include Visa,
Microsoft, General Motors, Warner Bros., and Procter & Gamble. For more
information on L90, visit www.L90.com.
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About webMillion
As the Web's first free, multi-million dollar Internet lottery, webMillion.com
is an excellent platform for direct marketing programs. At www.webmillion.com,
surfers join for free and play a pick-six game daily to vie for a weekly drawing
for $3 million. They can also register to receive a variety of promotional
offers. Members can win other cash prizes, gift certificates and additional
picks through other games as well.
Statements included within this press release, which are not historical in
nature, constitute forward-looking statements attributable to L90 for purposes
of the safe harbor provided by the Private Securities Litigation Reform Act of
1995. Such statements involve risk and uncertainties that could cause actual
results to differ materially from those described herein. Careful consideration
should be given to cautionary statements made in L90 documents filed with the
Securities and Exchange Commission.
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