|Amazon.com Obtains Commitment For $75 Million Credit Facility|
SEATTLE, WA (November 7, 1997)-- Amazon.com, Inc. (Nasdaq: AMZN) today announced that it has entered into a commitment for a $75 million, 3-year credit facility led by Deutsche Morgan Grenfell, Inc. DMG will syndicate the credit facility on an underwritten basis. Subject to the fulfillment of customary conditions precedent, the Company expects the facility to close in December 1997. Additional information regarding the credit facility may be found in the Company's Report on Form 8-K, to be filed with the Securities and Exchange Commission today.
"This credit facility will provide Amazon.com with substantially increased resources to execute its long-term strategy," said Joy Covey, Amazon.com's Chief Financial Officer. "This additional $75 million will enhance our flexibility as we pursue our goal of extending our leading position in this competitive market. We intend to invest aggressively in building our business and brand, enhancing and expanding our product and service offerings and broadening our distribution relationships," Covey added.
Amazon.com, Inc., Earth's Biggest Bookstore, is the leading online retailer of books and is the premier bookseller on AOL.com, Yahoo!, Netscape, Excite.com, the Alta Vista Search Network, and the Prodigy Shopping Network. Amazon.com offers a catalog of 2.5 million titles, easy-to-use search and browse features, e-mail services, personalized shopping services, Web-based credit card payment, and direct shipping to customers. Amazon.com has virtually unlimited online shelf space and can offer customers a vast selection through an efficient search-and-retrieval interface, as well as streamlined ordering through 1-ClickSM technology.
Amazon.com, Inc., is headquartered at 1516 Second Avenue, Seattle, WA 98101. Internet address: http://www.amazon.com. Telephone (206) 622-2335.
Amazon.com, Earth's Biggest Bookstore, and 1-Click are service marks of Amazon.com, Inc. All other names are trademarks and/or registered trademarks of their respective owners.
This announcement contains forward-looking statements that involve risks and uncertainties, and actual results may differ materially from predicted results. Potential risks and uncertainties include, among others, Amazon.com's limited operating history, the unpredictability of its future revenues, and risks associated with capacity constraints and management of growth. More information about factors that potentially could affect Amazon.com's financial results is included in the company's final prospectus, dated May 15, 1997, as well as the company's Form 10Q for the second quarter ended June 30, 1997, both filed with the Securities and Exchange Commission.