Overstock.com Investor

Press Release

Printer Friendly Version View printer-friendly version
<< Back
Overstock.com Announces Management Change

SALT LAKE CITY, Apr 29, 2003 /PRNewswire-FirstCall via COMTEX/ --

Leading Internet retailer Overstock.com, Inc. (Nasdaq: OSTK) today announced that Jason Lindsey has been promoted to president and CFO.

Lindsey is one of Overstock.com's founders and has been the company's CFO since 1999. Lindsey will retain his CFO responsibilities, which include financial and economic analysis and strategy. As president, Lindsey will become more involved in all aspects of running the business.

"We're extremely fortunate to have someone as talented and dedicated as Jason on our management team, and I look forward to having him lead additional aspects of the company's growth," said Patrick Byrne, CEO of Overstock.com. "Jason has been instrumental in building Overstock.com into a leading Internet retailer."

Byrne will remain active in the daily operations of the company as chairman and CEO.

About Overstock.com

Overstock.com Inc. is an online "closeout" retailer offering discount, brand-name merchandise for sale over the Internet. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory liquidation distribution channel. Overstock.com is a publicly traded company listed on the NASDAQ National Market System, headquartered in Salt Lake City, and can be found online at www.overstock.com . Overstock.com is a registered trademark of Overstock.com, Inc.

This press release contains certain 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. Such forward-looking statements include, but are not limited to, statements regarding the company's future growth and success. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, but not limited to, our limited operating history, our ability to manage growth, a general downturn in economic conditions, and such other risks as identified in our Prospectus dated May 29, 2002, filed with the Securities and Exchange Commission and all subsequent filings with the Securities and Exchange Commission, including our Form 10-K for the year ended December 31, 2002, and our Prospectus dated February 12, 2003, which contains and identifies important factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements.

SOURCE Overstock.com, Inc.

Rich Paongo, Investor Relations, +1-801-947-3132,
rpaongo@overstock.com, or media, Scott Blevins, Public Relations,
+1-801-947-3133, sblevins@overstock.com, both of Overstock.com, Inc.

http://www.overstock.com

Copyright (C) 2003 PR Newswire. All rights reserved.

News Provided by COMTEX