Audible Announces First Quarter Results

Audible (http://www.audible.com) announced results for the first quarter ended March 31, 2000.

Total revenue increased 60% to$504,196 from $315,055 reported for the three months ended March 31, 1999.Content and services revenue for the period was $315,066, an increase of 444%from $57,882 reported in last year's first quarter and a sequential increaseof 60% over the fourth quarter of 1999.

Net loss for the first quarter was$8,496,997, or $0.33 per basic and diluted common share, compared with a netloss of $1,474,432, or $0.20 per basic and diluted common share in thecomparable period of 1999.

"Revenue from audible.com content and services grewsignificantly and increased as a percentage of total revenue," Donald Katz, Founder and Chairman ofAudible, Inc., "and our customercount grew by 38% from the fourth quarter of 1999 to more than 18,300 in thefirst quarter of 2000. In addition, we have continued to build upon anddiversify the Audible library where we now offer our customers more than22,000 hours of spoken audio titles."