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Lycos, WingspanBank.com Sign $135 Million Agreement

Internet portal Lycos Inc. and WingspanBank.com signed a multi-year e-commerce agreement that potentially could generate up to $135 million for Lycos.

The agreement offers an array of financial products and services to Lycos users through the introduction of a Lycos/WingspanBank.com co-branded site. Lycos said the full $135 million is subject to certain performance thresholds being met and the agreement running to term.

WingspanBank.com is a subsidiary of Bank One Corp.

As a result of the deal, Lycos said its users will be able to access their checking accounts; pay bills online; apply for a variety of loans, including home equity loans and installment loans; make and manage investments; access a variety of financial planning tools; and scour Internet sources to find the best deals on mortgages and insurance.

"This is a powerful alliance, and we are thrilled to be putting the WingspanBank.com suite of financial services within easy reach of our audience," said Bob Davis, Lycos president and CEO.

"We think online banking is going to be an indispensable part of the modern lifestyle, and this agreement with WingspanBank.com will allow us to jointly offer powerful banking and financial tools to our users and communities. . ."