PRESS RELEASE

IN LIGHT OF OLYMPIC TICKETING SCANDAL, SEATWAVE CALLS FOR MORE AWARENESS AND PROTECTION FOR FANS WHO BUY TICKETS ONLINE

August 06, 2008

Joe Cohen, founder and CEO of Europe’s leading ticket exchange, Seatwave, has today urged the international Olympic Committee and event organisers across the world to provide more clarity for consumers who seek tickets for high demand events.



Cohen said:

“Fans from the UK, US and Australia have lost thousands of pounds and been stripped of a once in a lifetime opportunity to watch Olympic events live in Beijing just because they put their trust in a website that duped them into thinking it was legit.



“It’s scandalous that anyone can set up a website and con someone into buying something that isn’t theirs to sell. These crooks should be prosecuted to the fullest extent of the law for robbing so many people not just of their cash, but of their chance to experience the Olympic magic live.



“Sadly the truth is that when purchasing tickets online many people don’t know what is and what is not real, leaving them at risk of being ripped-off. This needs to change. In the past two years Seatwave has set the highest consumer protection bar in the ticketing industry and we believe it’s time for the rest of the industry to follow suit”



Cohen has called for better awareness and consumer protection when purchasing tickets online:

“Fans should look for sites that only offer genuine tickets to genuine events; and offer consumer protection in case things do go wrong.



“At Seatwave we offer tips on how to buy tickets safely online, and we have spent the past two years creating a platform where fans can exchange tickets in a trusted and secure environment. Through our TicketIntegrity™ and TicketCover™ guarantees - which cover each and every ticket available on Seatwave – consumers are protected with a 150% rock-solid guarantee.



“Today we are calling for all ticketing websites to put fans first and guarantee the same protection so consumers never have to go through these kinds of experiences again”

Guide to buying tickets online – consumers should:



· Have a look around the site to get a feel for the company. Is it based in the UK? What sort of partners do they work with?



· If you are using the site for the first time, and you’re just not sure, ring the customer service helpline to check there’s someone on the other end of the line.



· If you are still not sure ring the issuer of your credit or debit card and ask them if they have experienced any fraudulent transactions from this site.



· Make sure you buy from a site which offers a strong consumer guarantee. All trusted exchanges should have some form of buyer guarantee which will ensure that the tickets you are buying are legitimate and that you’ll receive those tickets in time for the event. Seatwave offers their TicketIntegrity™ promise which guarantees that you will receive the tickets you ordered in time for the event and that all tickets they offer for sale are from legitimate sources.



· Once you have found the tickets you would like to purchase, make sure you check the seating information carefully. This will help you better understand where your tickets are located in the venue so you can gauge how much you would be willing to pay for them.



· Look for websites that offer a secure payment encryption facility. Check the web address starts with https:// before you enter any payment information and look for the padlock at the bottom of the screen.



· Read the cancellation policy carefully. If an event is cancelled, check to see whether the site you are buying from will offer a full refund or only a refund on the face value of the tickets you purchase. Seatwave’s TicketCover™, which comes with every ticket purchase, will refund you the full purchase price of the ticket (including the postage and service fees) should an event be cancelled.



· Look for added extras which demonstrate that the company is really looking out for its fans. Seatwave’s TicketCover™ also covers buyers for a range of other circumstances that might prevent them from attending the event, like illness or getting caught in a traffic jam.



· Keep a record of your ticket purchase. Always print out a copy of your order and a copy of any acknowledgement you receive.



· Seatwave, in addition to its own fan-to-fan ticket exchange loctated at www.seatwave.com recommends Ticketmaster, Eventim, SeeTickets and Viagogo as legitimate sources where fans can find tickets for the events they love.



- Ends -

For further information please contact

Claire Thom
Portland PR
T. 020 7842 0123
E.

About Seatwave

Seatwave is Europe’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 250,000 tickets on sale at any one time, 10 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. TicketintegrityTM 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 TicketcoverTM. 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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