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Quotesmith.com Announces Initial Public Offering

Quotesmith.com, Inc. (ticker: QUOT, exchange: NASDAQ) News Release - 8/3/1999

Quotesmith.com Announces Initial Public Offering

DARIEN, Ill.--(BUSINESS WIRE)--Aug. 3, 1999--Quotesmith.com, Inc. (Nasdaq: QUOT) announced today the initial public offering of 5,000,000 shares of common stock at an initial public offering price of $11 per share.

Intuit Inc. is purchasing 272,727 shares in the offering having an aggregate purchase price of $3 million. All of the shares are being offered by the company. The company has granted the underwriters a 30-day option to purchase up to an additional 709,090 shares of common stock to cover over-allotments.

The common stock will trade on the Nasdaq National Market under the symbol QUOT.

The managing underwriters for the offering are Hambrecht & Quist, LLC, PaineWebber Incorporated, ABN AMRO Incorporated and Charles Schwab & Co. A copy of the final prospectus relating to the offering may be obtained from:

  • Hambrecht & Quist, One Bush Street, San Francisco, CA 94104 (415) 439-3000;
  • PaineWebber Incorporated, 1285 Avenue of the Americas, New York, NY 10019 (212) 713-2000;
  • ABN AMRO Incorporated, 1325 Avenue of the Americas, New York, NY 10019 (212) 314-1080; and
  • Charles Schwab & Co. at www.schwabnet.com/quotesmith/ (800) 822-7751.

Quotesmith.com operates an Internet-based insurance service which provides instant online quotes from over 300 insurance companies for individual term life, auto, motorcycle, dental, individual and family medical, Medicare supplement, small group medical, no-exam whole life and fixed annuity insurance. Quotesmith.com allows visitors to purchase insurance from the insurance company of their choice without the involvement of commissioned salespeople.

A Registration Statement relating to these securities was filed with and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sales of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Robert Bland, 630/515-0170, ext. 201

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