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FOR IMMEDIATE RELEASE

YAHOO!(TM) AND ZIFF-DAVIS ESTABLISH WEB-DRIVEN PUBLISHING MODEL

Strategic Relationship Initially Focused on Yahoo! Internet Life and ZD/Yahoo! Computing


New York, NY -- December 12, 1995 -- Yahoo! Corporation and the Ziff-Davis Publishing Company today announced a strategic relationship that establishes a Web-driven publishing model delivering content through three integrated media: print, online, and CD-ROM. This new alliance is initially focused on two precedent-setting media products and services: Yahoo! Internet Life and ZD/Yahoo! Computing.

Yahoo! Internet Life is an interactive magazine based on one of the most frequently visited sites on the World Wide Web. ZD/Yahoo! Computing will be a comprehensive, value-added, online directory of computing resources on the Web.

The relationship leverages the expertise and recognizable brand names of Yahoo!, the leading guide for online discovery, and Ziff-Davis, the leading publisher of computer magazines and computing content online.

Ziff-Davis will have full responsibility for selling ads for the print and electronic versions of Yahoo! Internet Life as well as for ZD/Yahoo! Computing on ZD Net. To provide a "one stop shop" for computer-industry advertisers and their agencies, Yahoo! has also appointed Ziff-Davis as its exclusive, worldwide advertising representative for computer-related companies on the main Yahoo! guide.

"Yahoo! is committed to working with third parties that add content and services of value to our readers, and Ziff-Davis's publishing expertise and vast information resources about computing make them a very powerful partner," said Yahoo! CEO Tim Koogle. "They've also impressed us with their commitment to creating high-quality products and services that extend Yahoo!'s brand into other media, vertically into computing, as well as internationally."

Eric Hippeau, Chairman and CEO of Ziff-Davis, said, "While Yahoo! Internet Life and ZD/Yahoo! Computing are separate and distinct from Yahoo!'s main online guide, they will all be linked. This provides advertisers with higher readership from highly qualified buyers, as well as making Ziff-Davis the one-stop shop for buying computer-related advertising on all these platforms."

Yahoo! Internet Life is an interactive magazine that combines a Web site, a print publication, and a CD-ROM. Each issue of the quarterly magazine includes a CD-ROM that contains virtually everything in the magazine as well as all the software users need to connect to the World Wide Web. Users can just click on any of the hot links on the CD-ROM to go to the Web site, which also has a complete copy of everything in the magazine and much more. The print version of Yahoo! Internet Life will debut on newsstands in February 1996 with a paid circulation of 100,000.

"Yahoo! Internet Life creates a unique publishing model that puts the Web first," said Chief Yahoo! and Co-Founder Jerry Yang. "Yahoo! continues to pioneer the Internet's growth by being the first Web site to generate the content of a print publication, rather than the other way around."

Bill Machrone, the Editor-in-Chief of ZD Internet Life and Ziff-Davis's Vice President of Technology, will become the Editor-in-Chief of Yahoo! Internet Life. One of computer journalism's brightest and most respected stars, Machrone heads up an editorial staff that also includes Associate Editor Lisa Holzer and Web Doyenne Angela Gunn. "In its premiere issue, ZD Internet Life has already established a new standard for in-depth, insightful, comparative reviews of Web sites," said Machrone. "We look forward to delivering quality, Yahoo!-branded content via the Web, CD-ROM, and print."

ZD/Yahoo! Computing will be the definitive online guide to finding and using resources on the World Wide Web about computing and related technologies. It will incorporate an enhanced version of the Computing Trailblazer, a popular feature of Ziff-Davis's ZD Net Web site that reviews computing sites on the Internet, as well as new and innovative features to help people find computing products, companies, and services. ZD/Yahoo! Computing will be available in early 1996.

In keeping with the nature of this new publishing model, today's announcement took place simultaneously at dX.com, a cyber cafe in the heart of New York City's "Silicon Alley," and on the Internet's World Wide Web (http://www.zdnet.com/pr/). The Web announcement features VDOLive Internet video clips of Yahoo! and Ziff-Davis executives.

About Yahoo!
Located in Mountain View, CA, Yahoo! is a company devoted to enabling consumers and working professionals to make the most of their online experiences. Yahoo! publishes the most intuitive, up-to-date and efficient guide for information and online discovery, which bears its same name. With an estimated 800,000 users a day, Yahoo! is one of the most frequently visited sites on the World Wide Web. Much more than a simple directory or search engine, Yahoo!, with its Internet-wide full-text search and browse capabilities, satisfies a key need of consumers and working professionals to more easily navigate through the Internet and gather meaningful information for both business and pleasure.

About Ziff-Davis

Ziff-Davis is the leading publisher of computer magazines in paid circulation, ad pages and total revenues, according to the Ad Age 300. In addition to Yahoo! Internet Life, Ziff-Davis publishes PC Magazine, PC WEEK, PC Computing, Computer Shopper, MacUser, MacWEEK, Windows Sources, Computer Life, FamilyPC (with the Walt Disney Company), Computer Gaming World, and Inter@ctive Week (with Inter@ctive Enterprises) in the U.S.

Ziff-Davis is also the world's leading publisher of computing content online. Its ZD Net/World Wide Web Edition receives 373,500 page requests per day, making it one of the most heavily visited Web sites operated by a publisher. In addition, ZD Net has at total of more than 300,000 paid subscribers on America Online, CompuServe, The Microsoft Network, and Prodigy.

Ziff-Davis also includes Computer Intelligence, the leading source of fact-based information for the computer and communications industries; Logical Operations, the leading provider of training materials; and The Cobb Group, the leading publisher of software-specific journals, including Inside the Internet and Internet Business Advantage.

Outside the U.S., Ziff-Davis publishes PC Magazine, PC Direct and Computer Life in the U.K.; PC Professionell, PC Direkt and Pl@net in Germany; PC Expert and PC Direct in France; PC Computing en Espanol (with Editorial Televisa) in Mexico; and PC Magazine (with Richina Holdings) in the People's Republic of China. Ziff-Davis also licenses or syndicates its editorial content to 56 other publications distributed in more than 100 countries around the globe.

The SOFTBANK Corporation of Japan recently signed a definitive agreement to purchase the Ziff-Davis Publishing Company from Forstmann Little & Co. The acquisition is expected to be completed in the first quarter of 1996.

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