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San Francisco, California - (The Hosting News) - September 20, 2005 - Search engine company, LookSmart, has provided an update regarding itsrecent business progress - and outlined a strategy going forward.

David B. Hills, Chief Executive Officer of LookSmart made the following comments, “Since the beginning of this year, we’ve been focused on executing a turnaround plan for the company that leverages our ad network, consumer vertical search products and the licensing of our technology and content to build long term shareholder value over time through performance. We are implementing this plan, and I’m encouraged to see that our ad network is providing increasingly positive results for our customers, our new vertical search clusters are starting to be released and we’re executing on our technology and content licensing deals.”

LookSmart has taken a leadership position regarding eliminating fraudulent traffic on its network, developing and deploying technology and systems to detect and remove this traffic. The company believes these measures will benefit partners and shareholders through improved performance, and advertisers are responding well to the positive changes in LookSmart’s network.

LookSmart continues to roll out new vertical sites providing visitors with “essential versus exhaustive” search content and related tools to fulfill a passion, need or repetitive task. Building on the initial traction of its “LookSmart Education” cluster of sites, the company recently launched its second cluster of 11 sites under the “LookSmart Money” category. These sites are expected to fill a vital consumer need and should continue to attract commercial opportunities to expand and enhance LookSmart’s consumer products.

LookSmart will launch additional clusters over the next several months as the company seeks to grow its proprietary traffic and provide highly targeted opportunities for advertisers. In addition to paid listings and contextual search, the company has expanded its advertising products within the clusters to include targeted banners and other graphic media.

Licensing LookSmart’s Solutions for Publishers offers a customizable set of content, services and technology designed to augment publishers’ online audience and revenue-building efforts. The Company’s first three top-tier media customers have recently implemented search and advertising technology from the LookSmart platform within their network of sites. LookSmart has licensed its advertiser center, search content and Furl.net products, leveraging its existing technology assets to create new revenue streams while allowing publishers the flexibility to brand these products according to their needs.

LookSmart has also filed a preliminary proxy statement with the SEC seeking shareholder approval to amend its charter to effect a 1:3, 1:5 or 1:7 reverse stock split at the discretion of its Board of Directors. This reverse split is intended, among other things, to increase the company’s minimum bid price to meet the continued listing requirements of the Nasdaq National Market.

“While our first and foremost priority is always improving operational performance to build shareholder value, we believe that maintaining our Nasdaq National Market listing and ‘right-sizing’ our share count is also an important element of our strategy. The Board of Directors believes that it is prudent to complete this process now so we can continue to focus on improving operational performance,” concluded Mr. Hills.

For more information on LookSmart, visit http://www.looksmart.com or call 415-348-7500.

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