Bankrate, Inc. Announces Definitive Agreement to Acquire MMIS/Interest.com

Bankrate, Inc., today announced the execution of a definitive agreement to acquire a 100% interest in MMIS/Interest.com. MMIS publishes mortgage guides in over 300 newspapers and operates Interest.com, a Web site which publishes financial rates and information connecting consumers with lenders. The purchase price is $30 million in cash and the transaction is expected to close on or about November 30, 2005. Bankrate expects the purchase to be accretive in 2006.

“By acquiring MMIS/Interest.com we will be increasing our graphic advertising inventory, broadening our cost-per-click platform, increasing our lead aggregation potential and tripling our newspaper footprint,” said Thomas R. Evans, President and CEO of Bankrate, Inc. “We believe it will be a great complement to our business and fits perfectly into our strategic objectives,” Mr. Evans added.

MMIS sells advertising and publishes consumer mortgage tables and guides in some of the top newspapers in the country, including: The Chicago Tribune, The Chicago Sun Times, The Los Angeles Times, The Miami Herald, The Orlando Sentinel, The Indianapolis Star and The Dallas Morning News. In addition, the company sells advertising and hyperlinks on its Web site, Interest.com.

In a separate press release, Bankrate announced it is also acquiring FastFind, an Internet lead aggregator based in San Francisco, California. Bankrate expects both purchases to be accretive in 2006 and for both to close on or about November 30. Bankrate management will hold a conference call later today at 2:00 pm Eastern Standard Time to discuss both acquisitions.