Shop Around the Clock

ValueVision Media’s ShopNBC, the nation’s third largest home shopping
operation, struck an e-commerce deal with America Online that includes a
provision to become one of the first retail participants in the newly
expanded “AOL Deal of the Day.”

ValueVision said ShopNBC merchandise also will be
promoted through [email protected] in the jewelry, watches and computers categories.

AOL Time Warner’s AOL will be promoted as ShopNBC’s
preferred Internet service provider on certain computers marketed through
ShopNBC sales channels, including the ShopNBC Web site, telephone call
centers and cable television computer shows.

ShopNBC also will host “The AOL Shopping Hour” which will let AOL merchants
increase their marketing and distribution to more than 52 million homes that
subscribe to cable or satellite TV services.

Financial arrangements were not disclosed, but ValueVision, trading higher
than at about $22 a share, is making some of
the right moves as the company reported sales for its first fiscal quarter
ending April 30 2002 were a record $132.8 million, up 19 percent
year-over-year. sales were a record $22.7 million, a 72 percent

On the bottom-line the company posted first quarter net income of $539,000,
or 1 cent per share, compared with a loss of $5.4 million, or 14 cents a
share, a year earlier.

The company said it expects second quarter 2002 consolidated net sales to be
in the range of $128 million to $133 million, with earnings near break-even.

Also today, NBC Enterprises and NBC Daytime announced a strategic marketing,
commerce and entertainment alliance that will result in opportunities for
product placement on “Days of Our Lives” and “Passions” and a new series on
ShopNBC entitled “Soap Style.”

Debuting in mid-July, “Soap Style” will give viewers the opportunity to
purchase select merchandise that has adorned the NBC Daytime stars and sets.

“We are beginning to better leverage the strategic advantage of being a
commerce channel within the NBC family,” said Gene McCaffery, ValueVision
Media Chairman and CEO.

“We continue to partner with NBC on a number of broadcast and online commerce
initiatives, such as commerce enabling NBC owned and operated stations
throughout the country as well as upcoming strategic and comprehensive
partnerships with NBC Enterprises, NBC Daytime programming, and commerce
initiatives with Telemundo,” McCaffery said.

NBC signed
a hosting and fulfillment deal
with ShopNBC last October.

GE Equity and NBC own about 40 percent of ValueVision, which competes with
QVC and Home Shopping Network. As the nation’s third largest and fastest
growing shopping network, ShopNBC is broadcast 24 hours a day, 365 days a
year and is simulcast live on the Web at and on Yahoo! ShoppingVision.

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