MOUNTAIN VIEW, CA and STAMFORD, CT (Nov. 4, 1997) -- Netscape Communications Corporation (NASDAQ: NSCP) and CUC International Inc. (NYSE: CU) today announced an agreement to promote CUC's netMarket through Netscape's new online service, Netscape Netcenter. Under the agreement, netMarket will be included as a button on Netscape's popular NetSearch page, and CUC will offer Netcenter members the opportunity to purchase discounted goods and services online as well as become members of netMarket, which will provide additional membership benefits. In addition, Netscape will provide Internet users with information about netMarket when registering for Netcenter.
Netcenter is Netscape's free online service that targets business Internet users. A members-only service with over 1.5 million members, Netcenter enables busy professionals to easily access and personalize online business resources from one central location. Netcenter includes services in four key areas: Commerce, Content, Community and Software. Membership to CUC's netMarket service will be offered to Netcenter members by the end of the year.
netMarket is a membership-based, value-oriented site spanning most major areas of consumer spending. Non-members are free to browse or purchase from the site, although members receive additional discounts and benefits. Unlike most commerce sites, netMarket's revenue is derived primarily from membership fees rather than transaction fees. Consequently, netMarket is able to keep the price of merchandise and services low for its members. In addition, members earn netMarket credits on most transactions, which can be used toward future purchases on the site.
"As we continue to expand our Netcenter services, especially in the area of online transactions, our relationship with CUC International will play a valuable role in providing goods and services to the millions of Netcenter members," said Jennifer Bailey, vice president, Web site at Netscape. "We will continue to partner with leading companies such as CUC International to offer our members one-stop access to the online information and services they need."
"This is a strategic alliance for CUC," said Scot Melland, vice president of business development for CUC's interactive division. "We believe Netcenter will be an important vehicle for increasing our interactive membership base. In addition, Netcenter will help CUC build worldwide brand awareness for netMarket."
CUC, the leading membership-based, consumer-services company, currently provides access to travel, shopping, auto, dining, timeshare exchange, financial, and other services to more than 71 million consumers worldwide through its more than 20 membership programs, including Shoppers Advantage, Travelers Advantage, Entertainment, AutoVantage and other brands. CUC works in partnership with leading banks, retailers, oil companies, credit unions, charities and other organizations to offer consumers convenience and significant savings when purchasing a wide array of high-quality goods and services. In May 1997, CUC announced a definitive agreement to merge with HFS Inc., a leading franchiser of brand-name hotels, residential real estate and car rental operations with such well-known brands as Days Inn, Resort Condominiums International, Ramada, Coldwell Banker and Century 21.
Netscape Communications Corporation is a leading provider of open software for linking people and information over enterprise networks and the Internet. The company offers a full line of clients, servers, development tools and commercial applications to create a complete platform for next-generation, live online applications. Traded on NASDAQ under the symbol "NSCP," Netscape Communications Corporation is based in Mountain View, California.
Additional information on Netscape Communications Corporation is available on the Internet at http://home.netscape.com, or by sending email to moreinfo@netscape.com. Corporate customers can call 650/937-2555 while consumers can call 650/937-3777 for more information.
More information about CUC International Inc. is available on the Internet at http://www.cuc.com, or call 203/324-9261.
Netscape, Netscape Navigator, and the Netscape N logo are registered trademarks.
netMarket is a registered trademark of CUC International Inc.