AUDIBLE EXTENDS DISTRIBUTION TO RETAIL

COSTCO WILL OFFER DOWNLOADABLE AUDIOBOOKS FROM AUDIBLE.COMŽ
Audible, Inc. has announced an agreement to offer its Internet audio service to Costco Wholesale Corporation's members through an initial test at eight retail locations. Beginning early in Q3 2002, Costco members will be able to purchase a two-book package for $28.99, which allows them to install AudibleManager(r) software, immediately download from audible.com's vast collection of over 5,500 audiobook titles and burn to audio CD. Audible's first packaged content products will be available in the Technology section of Costco Wholesale warehouses.

"We are very excited about Costco's commitment to be a leader in providing state-of-the-art services to its members," said Foy Sperring, Audible, Inc.'s senior vice president for Strategic Alliances. "From Audible's perspective this initiative combines the clear merchandising advantages of retail store distribution with the economic and consumer benefits of digital delivery. This agreement advances one of Audible's key strategic focuses for 2002 -- to open new distribution partnerships and increase awareness and usage of our category-leading Internet audio service."

Audible.com features daily audio editions of the Wall Street Journal and The New York Times -- available on a subscription basis in time for the morning drive to work each day-as well as Forbes, Harvard Management Update, Scientific American and Fast Company. The site also offers a collection of audiobook best sellers and classics by authors such as Tom Clancy, Stephen King, John Grisham, and Mary Higgins Clark.


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