PRESS RELEASE

SEATWAVE COMMENTS ON TICKETMASTER ACQUISITION

London, 18 January 2008 - Seatwave, Europe’s leading fan to fan ticket exchange, has expressed dismay at Ticketmaster’s’ reported $300 million acquisition of US ticket exchange, TicketsNow.

Ticketmaster, in evidence given to the recent Culture, Media and Sport Select Committee’s enquiry into ticket touting urged the Committee to recommend to ‘make the unauthorised resale of all event tickets, at higher than face value, a criminal offence’.1

Yet, this week’s deal has seen the company assume control of a business that resells tickets above face value with no authorisation from event organisers.

Joe Cohen, founder and CEO of Seatwave comments:

“Ticketmaster were vociferous in their condemnation of the secondary ticketing market during the Culture, Media and Sport Select Committee’s inquiry, yet they seem to have done a $300 million about turn to buy one of the foremost ticket resellers in the US, who almost certainly would face prosecution under Ticketmaster’s suggested legislation changes. Hypocrisy hardly covers it.

“The choice of TicketsNow is also interesting, as the company exclusively represents 800 of the largest brokers in the US rather than helping fans buy and sell tickets. It’s surprising that Ticketmaster, with all its posturing about touting being ‘bad for consumers, fans, tourists and UK plc as a whole’2 would buy a business that exclusively represents professional touts.”

Cohen continues:

“Ticketmaster has also taken legal action in the US against the very brokers that TicketsNow is so proud to represent, so it’s difficult to see exactly how this acquisition is more than a cynical grab at replacing the business being lost as consumers turn to companies that better serve their needs.

Seatwave, is working hard to take ticket resale out of the shadows and put it in the hands’ of fans. Our mission is to offer safety, security and transparency. We want consumers to have more choice than “800 vetted, professional ticket brokers.”

- Ends -

For further information please contact

Louise Rutter or Verity Williams
Portland PR
T. 020 7404 5344
E.

About Seatwave

Seatwave is the UK’s largest fan-to-fan ticket exchange, an online marketplace for buying and selling tickets for theatre, sports, music and other live events. The company was launched in February 2007 by Joe Cohen, ex Ticketmaster and ex match.com and early stage Venture Capital firm, Atlas Venture. Seatwave has more than 500,000 tickets on sale at any one time, 25 times more than eBay.

Seatwave guarantees that tickets come only from legitimate sources and will represent them accurately and honestly. Seatwave operates two types of customer protection. Ticketintegrity™ guarantees that buyers will receive the tickets they ordered and in good time for the event. If not Seatwave refunds 150% of what was paid. All tickets bought on Seatwave are also covered by Ticketcover™. This provides for a full refund if an event is cancelled and even covers buyers for a range of circumstances that may prevent them from attending their performance. The company is based in London. www.seatwave.com

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