CHICAGO, August 9, 2005 - Duff & Phelps, LLC, a leading investment banking and financial advisory firm, is pleased to announce that it served as independent financial advisor and rendered a solvency opinion to the board of directors of IAC/InterActiveCorp (NASDAQ: IACI) in connection with the spin-off of Expedia, Inc. (NASDAQ: EXPE)

IAC operates leading and diversified businesses in sectors being transformed by the Internet, online and offline. Its mission is to harness the power of interactivity to make daily life easier and more productive for people all over the world. More information on IAC can be found at www.iac.com.

Expedia is one of the world's leading travel services companies, empowering business and leisure travelers with the tools and information they need to easily research, plan, book and experience travel. The Expedia family of websites includes: Expedia.com, Hotels.com, Hotwire, Expedia Corporate Travel, TripAdvisor and Classic Custom Vacations. Expedia also operates international sites in Canada, the United Kingdom, Germany, France, Italy and the Netherlands.

Duff & Phelps is a national investment banking and financial advisory firm focused on providing merger and acquisition, private placement, valuation, financial opinion and restructuring services to middle-market companies. Since 1932, Duff & Phelps has been committed to delivering independent advice and service of exceptional quality to a broad range of public and private companies. Duff & Phelps has offices in Chicago, New York, Los Angeles, Seattle, San Francisco and Atlanta. More information on Duff & Phelps can be found at www.duffllc.com.