Press Release


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August 1, 2001



Sony Corporation of America and Yahoo! Announce Multi-Faceted Relationship

- Agreement Includes Co-Branded Web Site, E-Commerce, Enterprise Advisory Services, and Content Integration and Promotion -

NEW YORK and SUNNYVALE, CA - July 31, 2001 -- Yahoo! Inc. (Nasdaq: YHOO) and Sony Corporation of America today announced a multi-faceted agreement that leverages a wide range of assets from each company. The multi-year agreement represents a significant relationship between Sony and Yahoo!, two of the world's leading consumer brands. Sony and Yahoo! will work together in four key areas: development and distribution of a co-branded Web site, e-commerce, enterprise advisory services, and content integration and promotion.

Under the terms of the agreement, Sony and Yahoo! will deliver co-branded content and communications tools to consumers in several ways. First, Sony and Yahoo! will develop Sony on My Yahoo!®, a co-branded Web site personalized for enthusiasts of Sony products and services. Sony on My Yahoo! will have all the functionality of My Yahoo! and will offer easy access to Sony services, Sony content and news about Sony products and services. Second, Sony on My Yahoo! will become the default start page for Sony Style Connect, Sony's recently launched Internet access service. Finally, Sony's VAIO® computers will be preloaded with software that will enable consumers to quickly and conveniently register for personalized Sony and Yahoo! content and services, including Sony on My Yahoo!, Sony on Yahoo!® Companion and Sony on Yahoo! Messenger.

In another key aspect of the relationship, SonyStyle.com, the Sony Electronics e-commerce platform that offers nearly all of Sony's consumer audio/video and PC products, will be featured prominently in Yahoo! Shopping, the Web's No. 1 portal shopping destination (Nielsen//NetRatings, May 2001). Rated the "Most Valuable Buying Audience" on the Web by Forrester Research (March 2001), Yahoo! has a 71 percent reach among online purchasers (ACNielsen, June 2001). SonyStyle.com will receive premier placement on the Yahoo! Shopping home page as well as throughout various category pages. Consumer electronics products are consistently top-selling items on Yahoo! Shopping, with Sony being one of the top brands searched for on Yahoo! Shopping.

Further, Yahoo! will provide enterprise advisory services to Sony by consulting on the development of the Sony U.S. Group Portal, a unified gateway to the world of Sony online. The Sony U.S. Group Portal will be a significant step toward an interconnected Web community using Sony devices. It will enable users to explore and experience the vast world of Sony content, products and services such as Screenblast, SonyStyle.com, Sony online games and ImageStation.comSM. Yahoo's! advisory services to Sony on the development of the Sony U.S. Group Portal will leverage Yahoo's! expertise in building deeply personalized and customized portals and enterprise solutions.

Yahoo! and Sony also intend to develop comprehensive online marketing programs which will be integrated across Yahoo!'s global network on behalf of several motion pictures from Sony Pictures Entertainment. The motion pictures include "Ali," from director Michael Mann and starring Will Smith; "The Panic Room," starring Jodie Foster; and "Deeds," starring Adam Sandler. In addition, Yahoo! and Sony Music Entertainment will continue to explore opportunities between the two companies.

"Yahoo!'s unrivaled expertise in Internet communications, customer relationship management, platform scalability and personalization will be instrumental in helping Sony quickly develop a world-class site and seamless customer experience," said Nobuyuki Idei, Chairman and CEO, Sony Corporation.

"This agreement represents a significant commitment of two industry leaders to collaborate on multiple levels and extend consumer value," said Terry Semel, Chairman and CEO, Yahoo!. "Sony's tremendous strength in electronics and entertainment coupled with Yahoo!'s brand strength and 200 million users globally provide a formidable platform to deliver meaningful offerings that are exciting and entertaining to our audiences. We plan to continue to build on both companies' strengths and explore additional opportunities over time."

"Sony's agreement with Yahoo! will allow us to offer customers information specific to their interests in Sony," said Howard Stringer, Chairman and CEO, Sony Corporation of America. "It will also give us the ability to have more direct customer relationships across all Sony companies. This relationship will serve as one of the models for Sony's expansion into digital media in the 21st Century."

"In just six years Yahoo! has become a leading global brand with the most engaged and loyal audience on the Web, representing a valuable currency to exchange for access to leading content or distribution services," said Jeff Mallett, President and Chief Operating Officer, Yahoo!. "We are very pleased to work with Sony to extend both our leading brands through relevant and personalized consumer offerings."

Sony will market its brands and products through a comprehensive marketing program across Yahoo!'s global network. As part of the program, Sony will also utilize Yahoo! Full Service, an interactive suite of data-driven tools and services that will provide Sony with detailed audience targeting, as well as ongoing measurement, optimization and analysis of the marketing program.

About Sony
Sony Corporation of America, based in New York City, is the U.S. subsidiary of Sony Corporation, headquartered in Tokyo. Sony Corporation is a leading manufacturer of audio, video, communications and information technology products for the consumer and professional markets. Its music, motion pictures, computer entertainment operations, and online businesses make Sony one of the most comprehensive entertainment companies in the world. Sony recorded consolidated annual sales of over $58.5 billion for the fiscal year ended March 31, 2001, and it employs 181,800 people worldwide. Sony Corporation of America recorded over $17.4 billion in sales in the U.S. for the fiscal year ended March 31, 2001.
About Yahoo!
Yahoo! Inc. is a global Internet communications, commerce and media company that offers a comprehensive branded network of services to more than 192 million individuals each month worldwide. As the first online navigational guide to the Web, www.yahoo.com is the leading guide in terms of traffic, advertising, household and business user reach. Yahoo! is the No. 1 Internet brand globally and reaches the largest audience worldwide. The company also provides online business and enterprise services designed to enhance the productivity and Web presence of Yahoo!'s clients. These services include Corporate Yahoo!, a popular customized enterprise portal solution; audio and video streaming; store hosting and management; and Web site tools and services. The company's global Web network includes 24 World properties. Yahoo! has offices in Europe, the Asia Pacific, Latin America, Canada and the United States, and is headquartered in Sunnyvale, Calif.


This press release contains forward-looking statements that involve risks and uncertainties concerning Yahoo!'s strategic and operational plans. Actual results may differ materially from the results predicted. All information set forth in this release is as of July 31, 2001, and Yahoo! undertakes no duty to update this information.


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