FWHT Findwhat.Com (MM)

FindWhat.com, Inc. (NASDAQ:FWHT) today announced a California jury was unable to reach a verdict in its patent infringement dispute with Overture Services, Inc., a wholly owned subsidiary of Yahoo! (YHOO), and the Court declared a mistrial. "We continue to believe that FindWhat.com has never infringed any valid and enforceable claim of the '361 patent," said Craig Pisaris-Henderson, FindWhat.com's chairman and chief executive officer. FindWhat.com noted the judge has yet to rule on the issue of whether the patent is unenforceable because of inequitable conduct committed by Overture. A hearing on the inequitable conduct issue and other motions that could impact the ultimate outcome of the case is currently scheduled for June 24, 2005. About FindWhat.com, Inc.(R) FindWhat.com creates and offers proprietary performance-based marketing and commerce enabling services that help businesses of all sizes throughout the business cycle in reaching prospects, converting prospects to customers and then retaining those customers. Its marketing division creates online marketplaces where buyers are introduced to sellers at exactly the right moment, when they are searching for products and services on the Internet; this introduction is based on a bid-for-position, Pay Per Click or Pay Per Call (US only), keyword-targeted advertising service. FindWhat.com offers this service directly to advertisers through the FindWhat.com Network(TM) in the U.S., the Espotting Network in Europe and offers a private label version of this service to large companies and portals worldwide, including Lycos and Mitsui & Co., Ltd. FindWhat.com also operates a merchant services division which includes Miva(R), a leading online platform of software and services for small to medium-sized enterprises (SMEs). With its easy-to-use, highly customizable and integrated browser-based point and click business creation software and a vast partner network, Miva is focused on helping to create and enhance online business and marketing services for SMEs. Additionally, FindWhat.com has a primary traffic division, currently offered through Comet Systems, a leading provider of connected desktop consumer software. More information about FindWhat.com is available on the Company's website at http://www.FindWhat.com. Forward-Looking Statements This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words or expressions such as "plan," "intend," "believe," or "expect," or variations of such words and similar expressions are intended to identify such forward-looking statements. Key risks are described in FindWhat.com's reports filed with the U.S. Securities and Exchange Commission, including the Form 10-KA for fiscal 2004. Readers should note that these statements may be impacted by several factors, including economic changes and changes in the Internet industry generally and, accordingly, FindWhat.com's actual performance and results may vary from those stated herein, and FindWhat.com undertakes no obligation to update the information contained herein. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: It is the opinion of management, based on its reliance on the opinion of our outside legal counsel, that we do not infringe upon any valid and enforceable claims of the patents held by Overture Services. If it is determined that our bid-for-position business model infringes one or more valid and enforceable claims of the `361 patent held by Overture Services, our business, prospects, financial condition and results of operations could be materially and adversely affected and we could be subject to damages and forced to obtain a license from Overture Services or revise our business model. We can offer no assurance that a license would be available on acceptable terms or at all, or that we will be able to revise our business model economically, efficiently or at all. Regardless of the outcome, this litigation could have an adverse impact on our results because of defense costs, diversion of management's attention and resources and other factors. (R)Registered trademark of FindWhat.com, Inc. (TM)Trademark of FindWhat.com, Inc. All other trademarks property of their respective owners.