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To: Eric Wells who wrote (74926)	8/20/1999 9:58:00 PM
From: Bill Harmond	Read Replies (2) \| Respond to of 164684

I think Priceline is a terrific investment opportunity at these prices. All the controversy about revenue count is just one more line on the income statement. Priceline is expanding beyond airlines, etc. Once they get their act together formatting the bidding process better they will be major. Up there in the top tier with the 4 or 5 best. PRICELINE - MOVING WELL BEYOND THE AIRLINE BUSINESS - In recognition of Priceline's impressive business momentum, we raised our revenue estimates substantially for the company this week. Despite the company's continued growth in its original airline business as well as impressive gains in newer businesses, including hotels and financial products, we believe investors and the media remain overly focused on the company's airline product. We expect the flow of news from Priceline in the coming months will redirect some of this attention away from the airline space and onto the extendibility of the company's unique demand collection business model. While media attention on the company has recently verged on brutality, consumers' reaction has been strongly positive as measured by brand recognition and sales results. We look for announcements regarding extension of the powerful Priceline brand into additional products and services (first in the business-to-consumer market, but longer term addressing the business-to-business opportunity) to help drive the stock back to previous levels. August, 1999 —BancBoston Robertson Stephens