America Online Buying Mapquest.com For $1.1 Billion

Internet/online services giant America Online Inc. [NYSE:AOL] has
put another notch in its acquisition belt, as it announced its intent
to buy interactive Net-based mapping concern Mapquest.com Inc.
[NASDAQ:MQST] in an all-stock deal valued at $1.1 billion.

In a press release this morning, AOL said it would use Mapquest.com
across all of its brands and platforms to "enhance the interactive
experience."

AOL will use Mapquest.com's maps on its proprietary service, as well
as to CompuServe and ICQ members and visitors to Netscape's Netcenter
portal.

Mapquest.com technology will also be used for properties AOL uses in
local markets, including Digital City and MovieFone. The Mapquest.com
buy will offer "new advertising and commerce opportunities built
around mapping and directions for entertainment, dining and shopping
and further strengthens AOL's local presence."

Mapquest.com shareholders will receive 0.31558 shares of AOL common
stock for each share of Mapquest.com stock. The stock-for-stock,
pooling-of-interests transaction is expected to close in the spring
of 2000, subject to various conditions including customary regulatory
approvals and the approval of Mapquest.com shareholders.

Reported By Newsbytes.com, http://www.newsbytes.com.