Amazon.com Completes Initial Tender Offer for Audible and Announces Subsequent Offering Period to Expire March 14, 2008

  
    
  
  
    
      Amazon.com, Inc. (NASDAQ:AMZN), today announced the completion of its 
      initial tender offer for all outstanding shares of Audible, Inc. 
      (NASDAQ:ADBL). The tender offer expired at 12:00 Midnight, New York City 
      time, at the end of Monday, March 10, 2008.
    
    
      As of such time, an aggregate of approximately 20.5 million shares of 
      Audible common stock (including approximately 773,000 shares that were 
      tendered pursuant to the guaranteed delivery procedures) had been 
      tendered into, and not withdrawn from, the offer. All of such shares 
      have been accepted in accordance with the terms of the tender offer. The 
      accepted shares, together with the Audible shares already owned by 
      Amazon.com, represent over 87% of Audible's outstanding shares.
    
    
      As of 9:00 a.m. New York City time on March 11, 2008, Amazon.com will 
      commence a subsequent offering period for all remaining shares of 
      Audible stock. The subsequent offering period will expire at 5:00 p.m. 
      New York City time on Friday, March 14, 2008, unless extended. During 
      this subsequent offering period, Audible stockholders who did not 
      previously tender their shares into the offer may do so and will 
      promptly receive the same $11.50 per share net to the seller in cash 
      (subject to applicable withholding taxes), without interest thereon, 
      offered to stockholders tendering in the initial offering period. No 
      withdrawal rights will apply to any Audible shares tendered during the 
      subsequent offering period.
    
    
      After expiration of the subsequent offering period, as it may be 
      extended, Amazon.com intends to complete the merger contemplated by the 
      merger agreement as soon as practicable, with Audible becoming a 
      wholly-owned subsidiary of Amazon.com.
    
    
      Securities Law Disclosure
    
    
      This press release is for informational purposes only and is not an 
      offer to buy or the solicitation of an offer to sell any securities. The 
      solicitation and the offer to buy shares of Audible common stock have 
      been made pursuant to an offer to purchase on Schedule TO and related 
      materials that Amazon.com filed with the SEC on February 11, 2008, as 
      amended. Audible also filed a solicitation/recommendation statement with 
      respect to the offer on Schedule 14D-9 on February 11, 2008, as amended. 
      Audible stockholders and other investors should read these materials 
      carefully when they become available because they will contain important 
      information, including the terms and conditions of the offer. Audible 
      stockholders and other investors will be able to obtain copies of these 
      materials without charge from the SEC through the SEC's website at www.sec.gov; 
      from Georgeson Inc., the information agent for the offer, toll-free at 
      866-328-5439 (banks and brokers call 212-440-9800); from Amazon.com 
      (with respect to documents filed by Amazon.com with the SEC) by going to 
      Amazon.com's Investor Relations Website at www.amazon.com/ir; 
      or from Audible (with respect to documents filed by Audible with the 
      SEC) by going to Audible's Investor Relations Website at www.audible.com/ir. 
      Stockholders and other investors are urged to read those materials 
      carefully prior to making any decisions with respect to the offer.
    
    
      About Amazon.com
    
    
      Amazon.com, Inc. (NASDAQ:AMZN), a Fortune 500 company based in Seattle, 
      opened on the World Wide Web in July 1995 and today offers Earth's 
      Biggest Selection. Amazon.com, Inc. seeks to be Earth's most 
      customer-centric company, where customers can find and discover anything 
      they might want to buy online, and endeavors to offer its customers the 
      lowest possible prices. Amazon.com and other sellers offer millions of 
      unique new, refurbished and used items in categories such as books, 
      movies, music & games, digital downloads, electronics & computers, home 
      & garden, toys, kids & baby, grocery, apparel, shoes & jewelry, health & 
      beauty, sports & outdoors, tools, auto & industrial.
    
    
      Amazon Web Services provides Amazon's developer customers with access to 
      in-the-cloud infrastructure services based on Amazon's own back-end 
      technology platform, which developers can use to enable virtually any 
      type of business. Examples of the services offered by Amazon Web 
      Services are Amazon Elastic Compute Cloud (Amazon EC2), Amazon Simple 
      Storage Service (Amazon S3), Amazon SimpleDB, Amazon Simple Queue 
      Service (Amazon SQS), Amazon Flexible Payments Service (Amazon FPS), and 
      Amazon Mechanical Turk.
    
    
      Amazon and its affiliates operate websites, including www.amazon.com, 
      www.amazon.co.uk, www.amazon.de, 
      www.amazon.co.jp, www.amazon.fr, 
      www.amazon.ca, and the Joyo Amazon 
      websites at www.joyo.cn and www.amazon.cn.
    
    
      As used herein, "Amazon.com," "we," "our" and similar terms include 
      Amazon.com, Inc. and its subsidiaries, unless the context indicates 
      otherwise.
    
    
      Forward-Looking Statements
    
    
      This announcement contains forward-looking statements within the meaning 
      of Section 27A of the Securities Act of 1933 and Section 21E of the 
      Securities Exchange Act of 1934. Actual results may differ significantly 
      from management's expectations. These forward-looking statements involve 
      risks and uncertainties that include, among others, risks related to the 
      expected timing and financial or other benefits of the Audible.com 
      transaction, competition, management of growth, new products, services 
      and technologies, potential fluctuations in operating results, 
      international expansion, outcomes of legal proceedings and claims, 
      fulfillment center optimization, seasonality, commercial agreements, 
      acquisitions and strategic transactions, foreign exchange rates, system 
      interruption, significant amount of indebtedness, inventory, government 
      regulation and taxation, payments and fraud. More information about 
      factors that potentially could affect Amazon.com's financial results is 
      included in Amazon.com's filings with the Securities and Exchange 
      Commission, including its Annual Report on Form 10-K for the year ended 
      December 31, 2007, and subsequent filings.
    
    
      About Audible.com
    
    
      Audible (www.audible.com) is the 
      leader in spoken audio information and entertainment on the Internet. 
      Content from Audible is downloaded and played back on personal 
      computers, CDs, or AudibleReady computer-based and wireless mobile 
      devices. Audible and its wholly owned subsidiary, Audible.co.uk, have 
      almost 200,000 hours of audio programs from more than 520 content 
      partners that include leading audiobook publishers, broadcasters, 
      entertainers, magazine and newspaper publishers, and business 
      information providers. Audible's alliances in Germany and France offer 
      an additional 20,000 hours of audio programming. Audible is the 
      pre-eminent provider of spoken-word audio products for Apple's iTunes 
      Store. Audible has a headquarters in Newark, NJ, and an office in 
      London, England. Audible, audible.com, AudibleListener, and AudibleReady 
      are registered trademarks of Audible, Inc. and all are part of the 
      family of Audible, Inc., trademarks.