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Autoweb and Lycos Join Forces in Groundbreaking Agreement

24 April 2000

Autoweb and Lycos Join Forces

             Lycos Network To Offer Wireless Applications for Automotive Industry

                  Lycos Purchases 10 Percent of Autoweb.com

    SANTA CLARA, Calif., and WALTHAM, Mass., April 24 Autoweb.com, Inc. (Nasdaq: AWEB), the leading consumer automotive Internet
service, and Lycos, Inc. (Nasdaq: LCOS), the Internet's leading multi-brand
network, announced today that they have entered into a four-year strategic
alliance to build and jointly operate a new online automotive channel
(http://www.autoweb.lycos.com) and deliver unique marketing and e-commerce
opportunities to the auto industry. By providing an efficient platform for
manufacturers to reach and conduct transactions with online car-buyers,
Autoweb and Lycos expect to capture a growing share of the
multi-billion-dollar online automotive market.
    The companies today launched The Lycos/Autoweb Channel, a new online
destination that will serve as the automotive hub for all the diverse sites
and destinations that comprise the Lycos Network including all wireless
offerings. With the new automotive site, Lycos is the only portal on the Web
to combine the entire depth and breadth of car-buying and unique content
resources from Autoweb with new features to be jointly developed by the two
companies. Access to The Lycos/Autoweb Channel will be strategically
integrated with links throughout the Lycos Network, making the site's broad
array of services directly accessible to Lycos's nearly 33 million users.
    Under the terms of the agreement, Lycos will acquire an approximately
10 percent stake in Autoweb.com. The companies plan to jointly offer a wide
range of targeted marketing programs to the automotive industry and will share
in advertising and e-commerce revenues, traffic and consumer information
generated from these new offerings. The agreement also provides for Lycos to
receive yearly multi-million-dollar payments.
    During the term of the agreement, Lycos and Autoweb plan to work together
to address the emerging markets for wireless and web-enabled automobile
services. The companies will focus on jointly partnering with vehicle
manufacturers and automotive technology suppliers to enhance the next
generation of in-vehicle wireless systems. With their combined content and
technology capabilities, the companies plan to offer new product and service
offerings including Web access, navigation, content and value-added consumer
services.
    "I believe the synergies resulting from this deal will strengthen
Autoweb's market position, allowing us to reach a wider audience and uniquely
address the strategic needs of manufacturers in the rapidly evolving online
automotive market," said Dean DeBiase, chairman and CEO of Autoweb.com.
"Together, Autoweb and Lycos can leverage the depth and breadth of our new
offerings to help the vehicle manufacturers position their brands to consumers
in new and innovative ways, with the goal of helping them sell more cars."
    The Lycos/Autoweb Channel continues the Lycos strategy to build out the
Network with content rich, deeply integrated vertical destinations. According
to Bob Davis, president and CEO of Lycos, "This new automotive destination is
another step in Lycos's effort to build out rich content in key vertical
markets, and demonstrates the powerful combination of content and commerce
that benefits consumers and sellers. The deep integration of the Lycos Network
with Autoweb's excellent capabilities will provide auto makers with the first
opportunity to effectively segment their marketing efforts to targeted groups
online using the power of the Web's leading multi-brand network."
    Together, the companies will capitalize on future growth opportunities in
the automotive industry, which currently spends over $14 billion annually to
entice consumers to buy vehicles. The Internet is playing an increasingly
important role in consumer automotive purchases. More than 55% percent of new
car buyers currently use the Internet as part of their car-shopping process,
according to J. D. Power and Associates, and the figure is expected to grow to
80% by 2003. Cars sold using the Internet are expected to increase from
$13.5 billion in 1999 to more than $40 billion in 2000.

    
    NOTE:  Autoweb(SM) is a service mark of Autoweb.com, Inc. Lycos(R) is a
registered trademark of Carnegie Mellon University. All other product or
service marks mentioned herein are those of their respective owners. All
rights reserved.