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eBay Completes Acquisition of India's Baazee.com

SAN JOSE, Calif. & MUMBAI, India--(BUSINESS WIRE)--Aug. 3, 2004--eBay, The World's Online Marketplace (Nasdaq:EBAY) (www.ebay.com), today completed its previously announced acquisition of Baazee.com and its subsidiary Baazee.com India Pvt. Ltd., the largest online marketplace in India.
In accordance with the terms of the transaction as announced on June 22, 2004, eBay is acquiring all outstanding shares of Baazee.com, Inc. for approximately US$50 million in cash, plus acquisition costs.

As previously stated, eBay does not expect the acquisition to have a material impact on 2004 net revenue and earnings per share, and does not expect it to affect eBay's financial guidance as issued in connection with its second quarter earnings release on July 21, 2004.

About Baazee.com

Baazee.com India Pvt. Ltd. is a subsidiary of Delaware-based Baazee.com, Inc., and started its operations in India in January 2000. Headquartered in Mumbai, Baazee is India's biggest marketplace where anyone can sell or buy almost anything. Baazee has a strong and growing community of 1 million confirmed registered users who trade in a wide range of thousands of item categories including Electronics, Cameras, Phones, Computers, Movies, Mobiles, Fashion, Music, Home, Toys and Travel. Through a world class technology infrastructure Baazee enables & simplifies e-commerce for India's burgeoning online community.

About eBay

eBay is The World's Online Marketplace(R). Founded in 1995, eBay created a powerful platform for the sale of goods and services by a passionate community of individuals and businesses. On any given day, there are millions of items across thousands of categories for sale on eBay. eBay enables trade on a local, national and international basis with customized sites in markets around the world. Through an array of services, such as its payment solution provider PayPal, eBay is enabling global e-commerce for an ever growing online community.

Forward-Looking Statements

This announcement contains forward-looking statements that involve risks and uncertainties. Actual results could differ materially from those discussed. Factors that could cause or contribute to such differences include, but are not limited to, the reaction of the users and suppliers of Baazee.com to the transaction, the future growth of Baazee.com's services, the reaction of competitors and regulatory authorities to the transaction, foreign currency exchange rate fluctuations, and political, economic, and security developments in, or affecting, India. More information about potential factors which could affect eBay's business and financial results is included in the company's Annual Report on Form 10-K for the year ended December 31, 2003, and the company's Quarterly Reports on Form 10-Q. All forward looking statements are based on information available to eBay on the date hereof, and the company assumes no obligation to update such statements.

Contacts


eBay
Hani Durzy, 408-376-7458
hdurzy@ebay.com

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