SOURCE: Interchange - Local.com

August 02, 2006 03:01 ET

Local.com Announces Second Major Local Search Milestone

IRVINE, CA -- (MARKET WIRE) -- August 2, 2006 -- Interchange Corporation (NASDAQ: INCX), owner of Local.com, a leading local-search engine, today announced that it has reached 10 million unique visitors to the site for the month of July.

"Today's news follows the recent announcement that Local.com reached the critical milestone of a positive return on ad spend. This new milestone puts us in position to increase our market share at no additional cost to our bottom line," said Heath Clarke, Interchange CEO. "Reaching this important second milestone visibly demonstrates that we are increasing our market share during the third quarter."

Search traffic on Local.com generates revenues from a variety of advertising, including banner, cost-per-click and cost-per-call. According to comScore data for June 2006, Local.com ranked as #102 of all US websites, and reached 5% of all US internet users. The company expects that this recent increase in traffic will place Local.com in the comScore top 100 US websites for the month of July.

All traffic statistics in this announcement are based upon third-party reporting systems.

About Interchange Corporation

Interchange Corporation (NASDAQ: INCX), owns Local.com (www.local.com), a leading local search engine (ranked #102 in U.S. website traffic -- June 2006 comScore). Local.com attracts more than 10 million monthly unique visitors seeking information on local businesses, products, services and people. Powered by the company's patent-pending Keyword DNA® and local web indexing technologies, Local.com provides users with targeted, relevant local search results. These results include special offers from local businesses, reviews from other users, local businesses' website links, maps, driving directions and more. Businesses can advertise on Local.com with subscription, pay per click, banner and pay per call ad products.

Forward-Looking Statements: All statements other than statements of historical fact included in this document regarding our anticipated financial position, business strategy and plans and objectives of our management for future operations, are forward-looking statements. When used in this report, words such as "anticipate," "believe," "estimate," "plans," "expect," "intend" and similar expressions, as they relate to Interchange or our management, identify forward-looking statements. Any forward-looking statements are based on the beliefs of our management as well as assumptions made by and information currently available to our management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including, but not limited to, our ability to launch the Local.com domain and incorporate our local-search technologies, market the Local.com domain as a destination for consumers seeking local-search results, grow our business by enhancing our local-search services, expand our Advertiser and Distribution Networks, expand internationally, integrate the operations and effectively utilize the technology of Inspire, a Swedish Internet and wireless local-search technology company that we acquired in 2005, develop our products and sales, marketing, finance and administrative functions and successfully integrate our expanded infrastructure, as well as our dependence on major advertisers, competitive factors and pricing pressures, changes in legal and regulatory requirements, and general economic conditions. Any forward-looking statements reflect our current views with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this paragraph.

Our Annual Report on Form 10-KSB, subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other Securities and Exchange Commission filings discuss the foregoing risks as well as other important risk factors that could contribute to such differences or otherwise affect our business, results of operations and financial condition. The forward-looking statements in this release speak only as of the date they are made. We undertake no obligation to revise or update publicly any forward-looking statement for any reason.

Contact Information

  • Corporate Contact:
    Jennifer Black
    Vice President of Marketing
    jblack@local.com
    (949) 784-0800

    Investor Relations Contact:
    John Baldissera
    BPC Financial Marketing
    (800) 368-1217