Headquartered in Pasadena, California, Overture is a global leader in commercial search services on the Internet. Founded in 1997 as GoTo.com, the Company changed its name to Overture Services, Inc. in October 2001 (NASDAQ: OVER). Overture's mission is to deliver new and more powerful ways for businesses and customers to connect on the Internet.

The Company's scaleable, hard-to-replicate business provides high-quality, relevant search results to prominent Web sites and portal partners including Yahoo!, Infospace, MSN, Lycos, HotBot, CNET, CNN and others. The Company's network of affiliate partners reaches approximately 85% of the U.S. Internet population and a growing number of international users. Advertisers bid for their placement in the Company's search results on key words that are relevant to their Web sites. These results are then distributed across the Internet to some of the web's most popular and well-known sites. Overture has nearly 90,000 active paying advertisers, and, since advertisers pay on a cost-per-click basis and determine for themselves the value of leads they receive, Overture is proving to be the most cost-effective advertising proposition on the Web.

Since its inception five years ago, the Company has grown dramatically, achieving fiscal 2002 revenues of $670 million and profit of $73 million. The company is within sight of $1 billion in revenue in 2003. Recently, Overture announced two strategic acquisitions - Alta Vista Company and the Web search unit of Fast Search & Transfer. With the paid inclusion and algorithmic search technologies acquired, Overture expects to be at the forefront of the industry in offering a full suite of paid placement, paid inclusion and algorithmic search products and services. The Company currently has more than 1,000 employees who work in Pasadena, New York, San Francisco, the United Kingdom, Ireland, Germany, France, Japan and South Korea. The commercial Internet search business is currently a $2 billion industry and is estimated to grow up to $8 billion over the next six to seven years. Overture is exceptionally well positioned to capitalize on this growth, and to sustain our position as the dominant player in the industry.