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To: Bob Kim who wrote (109047)	9/27/2000 12:49:55 PM
From: H James Morris	Read Replies (3) \| Respond to of 164684

Bob, yes if I recall it was Meeker. Btw Up until Aug DLJ's Kiggen had a $190 price tag on Pcln. I didn't notice until today he moved it down to $75. >PRICELINE.COM (PCLN: $25.44)+ 8/1/00 Liberty Media And Vulcan Ventures To Buy 8 Million PCLN Shares From Jay Walker Earnings Per Share Old New P/E Ratios (FY:Dec.) 2001E $0.16 $ NA 2000E (0.05) NA 1999A (0.36) NA Rating: BUY Change: None 12-Mo. Target: $75* PCLN this morning announced that Liberty Media Corporation and Vulcan Ventures Inc. have purchased a forward contract from PCLN founder Jay Walker for an aggregate 8 million shares at $190 million. The two companies will be able to take title to the shares beginning August 1, 2001 and no later than August 1, 2002. Jay Walker's holdings of PCLN will fall from approximately 60 million to 52 million, a 13% reduction, but he remains the company's largest shareholder and will retain voting rights on the 8 million shares until the forward contract is executed (1 to 2 years). Mr. Walker also confirmed that he has not sold any shares since the company's IPO last year. Nearly all proceeds from the sale, roughly $125 million after tax, will be reinvested in WebHouse Club. Metrics revealed on the call suggest strong momentum in WebHouse Club. Over 7,000 supermarkets are now participating in the service, and WebHouse expects that number to reach 10,000 to 15,000, representing 50% penetration in nearly every US market. 120 different grocery store brands are now represented on WebHouse Club's service, all with 1 to 2 year contracts. 5,000 gasoline stations have agreed to pay WebHouse club a fee for referrals. We reiterate our Buy rating. PCLN should be a core Internet holding. (11:40 AM EST)