1. Thomas J. McInerney EVP & Chief Financial Officer May 2006

2. 2 Building Businesses Across the Consumer Spectrum Media Membership Services Retailing

3. 3 Multiple Brands

4. 4 Financial Results – Q1 2006 Revenue Operating Income Before Amortization Q1 06Q1 05 Growth Q1 06Q1 05 Growth Retailing $ 769$ 59928%$ 62$ 594% Services 48238027%826330% Media & Advertising 11891208%12(1)NM Membership & Subscriptions 17815416%29278% Emerging 84111%(6)(3)-119% Corporate & Other (5)(9)46%(20)(34)42% Total $1,551$ 1,13636%$ 158$ 11142% Adjusted* $1,266$ 1,13611%$ 138$ 12312% $ in millions * Excludes IAC Search & Media/Cornerstone/expenses and intercompany eliminations related to the spin-off.

5. 5 Net Cash – March 31, 2006 * $1.3 billion gross debt less $365 million LendingTree Loans debt that is non-recourse to IAC. Cash / Restricted Cash & Marketable Securities Net Cash pro forma Debt* $2.4 Billion $1.5 Billion $0.9 Billion

6. 6 Retailing: Get HSN Back On Track Trailing Twelve Months Y/Y HSN Revenue Growth

7. 7 OIBA +23% CAGR Q1 ‘05Q1 ‘06 Email Alerts (in millions) 220325 TicketFast venues 1,8022,295 TeamExchange teams2843 # Auctions Y/Y growth NM+507% $ in millions Ticketing: Capitalize on Strong Momentum

8. 8 Lending: Grow Through Cyclical Contraction Year-Over-Year Growth Source: U.S. mortgage market growth derived from MBAA data (April 2006). IAC Lending Revenue U.S. Purchase 72% 42% 10% 131% 37% 17% 0% 13% U.S. Refinance 44% -42% -12% 14% 58% -33% 2%

9. 9 Paid Subscribers #1 ranking reflects reach position based upon unique visitors, including MSN Personals. Source: ComScore, March 2006. 18 languages in 32 countries #1 in North America #1 in Europe / UK, Sweden, Spain #1 in Australia Global Strength Subscribers at end of period, in thousands Personals: Strengthen Worldwide Leadership

10. 10 Source: comScore Q Search, March 2006. Search: Take Ask.com to the Next Level IAS Search & Media Properties Share of U.S. Search Queries

12. 12 Important Safe Harbor Statement Under The Private Securities Litigation Reform Act Of 1995 This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements relating to anticipated financial performance, business prospects, new developments and similar matters, and/or statements that use words such as "anticipates," "estimates," "expects," "intends," "believes" and similar expressions. These forward-looking statements are necessarily estimates reflecting the best judgment of IAC’s senior management, and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties are described in IAC’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including its Annual Report on Form 10-K for the fiscal year ended 2005, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and 2005 Annual Proxy Statement. Other unknown or unpredictable factors also could have material adverse effects on IAC’s future results, performance or achievements. In light of these risks and uncertainties, the forward-looking events discussed in this presentation may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this presentation. IAC is not under any obligation and does not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this presentation to reflect circumstances existing after the date of this presentation or to reflect the occurrence of future events even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized. Prepared May 2006

13. 13 Reconciliation Operating Income Before Amortization to Operating Income $ in millions; rounding differences may exist

14. 14 Reconciliation Reported to Adjusted Revenue, Operating Income Before Amortization, and Operating Income $ in millions; rounding differences may exist