National Geographic is acquiring a 30 percent stake in iExplore, Inc., an Internet-based travel resource for researching, purchasing and equipping adventure and experiential travel. The two will join forces by collaborating closely on the development of adventure and experiential travel content for magazines, television, and the Internet. Terms of the deal were not disclosed.

Under the terms of the transaction, National Geographic will incorporate iExplore's content and searchable database of more than 5,000 trips in 152 countries into http://www.nationalgeographic.com. Using iExplore's "Trip Finder" database, visitors to nationalgeographic.com will be able to research and purchase trips from more than 100 tour operators and have direct access to consultation from iExplore's staff of more than 25 in-house agents.

In turn, iExplore will add the line of National Geographic Expeditions trips to its inventory of adventure and experiential trips available for purchase by consumers worldwide. The company will have access to National Geographic experts for special chat events, as well as an array of National Geographic content (articles, photography, and images) for use on the iExplore.com site. Also, iExplore's site will be co-branded with the National Geographic logo.

Rick Allen, president and chief executive officer of National Geographic Ventures, will serve on iExplore's board of directors.

Recognized by Forbes.com as the "Forbes Favorite" in its Best of the Web issue, by USA Today as a "Hot Site," by Fortune as a "Notable Web site" and by Netscape as the "Rave of the Day" with a score of a perfect 10, the privately-held iExplore is a portal for off-the-beaten path travelers who want to "come back different."

The Chicago-based company has partnerships with more than 100 tour operators, including Abercrombie & Kent, Backroads, Mountain Travel-Sobek and Lindblad Expeditions. In addition, the Web site offers consumers other research resources including books, suggestions on gear and apparel, and trip reviews from fellow travelers.

Investors in the company include Soros Private Equity Partners LLC, Tribune Ventures, Madison Dearborn Partners, Inc. and Bear Ventures. More information on the company can be found at http:/www.iexplore.com..

"iExplore's expertise and wealth of offerings in the adventure travel category make it an ideal ally for us," said John Fahey, president and CEO of the National Geographic Society. "Our investment in the company reflects the confidence we have in its business model and management team and our commitment to helping them grow in the future. We believe this alliance will result in extremely productive collaboration and integration on multiple levels."

LATEST NEWS

UCSD Plans First Flash-Based Supercomputer
Digging Into N.Y.'s Antitrust Suit Against Intel
Analyst: Sony-Ericsson's Android Bid Is Late
Coupon Site Targets Black Friday, Cyber Monday
Microsoft Sites Up Big in Time Spent Online

The Washington, D.C.-based National Geographic Society is the world's largest nonprofit scientific and educational institution with 10 million members worldwide. Founded in 1888 for the increase and diffusion of geographic knowledge, the Society reflects the world through magazines, books, maps, films, television, and interactive media. These media platforms are all being aggressively expanded worldwide, including the Society's official journal, National Geographic which, in addition to the English-language original, is published in 11 local-languages.

National Geographic Ventures, a wholly owned taxable subsidiary of the Society, operates the Society's Web site and various other business activities. Additionally, the National Geographic Channel can be seen by over 85 million subscribers, in 15 languages, and in 68 countries abroad, and will launch in the U.S. in January 2001. Travel and adventure products and services offered by National Geographic include National Geographic Traveler magazine, Adventure magazine, travel guide books, destination maps, back-road topographic maps, trip planning software, and a travel program called National Geographic Expeditions.