Overstock.com Investor

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November 2, 2007 at 1:02 PM EDT
Overstock.com Congratulates Bloomberg Television for Its Emmy Nomination for 'Phantom Shares', a Special Report on Naked Short Selling

SALT LAKE CITY, Nov. 2 /PRNewswire-FirstCall/ -- Overstock.com, Inc. (Nasdaq: OSTK)

Bloomberg Television's special report on naked short selling entitled "Phantom Shares" was nominated for an Emmy(R) Award for Business & Financial Reporting by the National Academy of Television Arts & Sciences. The report, which was nominated for outstanding investigative reporting of a business news story - news magazines and long form, featured Overstock.com and its Chairman and CEO, Patrick Byrne, extensively. It examined the strategy and execution of naked short selling, the threat this poses to American entrepreneurship, and the steps regulators are taking to control it.

Patrick Byrne said of the news, "Unsettled trades in our stock settlement system present a serious problem to our capital markets. Bloomberg's report shed light on the issue and brought it into the mainstream. It is an example of the critical, investigative mindset that is essentially absent within American financial journalism, and I am pleased to see Bloomberg being recognized for its fine work."

The program is available for viewing on Overstock.com's website at: http://www.overstock.com/Patrick-Byrne-and-naked-short-selling.html.

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, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com.

Overstock.com(R) is a registered trademark of Overstock.com, Inc. All other trademarks are the property of their respective owners.

SOURCE Overstock.com, Inc.

CONTACT:
Media, Judd Bagley,
+1-801-947-3841,
or
+1-801-618-8455,
or
jbagley@overstock.com,
or
Investors, Kevin Moon,
+1-801-947-3282,
or
kmoon@overstock.com,
both of Overstock.com, Inc.

Web site: http://www.overstock.com