Press Release

YAHOO! EXPANDS INTO EUROPE WITH ZIFF-DAVISSUNNYVALE, Calif. -- May 29, 1996 -- Yahoo! Inc. (NASDAQ: YHOO) and the Ziff-Davis International Media Group today announced the formation of a new venture, Yahoo! Europe. The new venture will soon begin offering customized versions of Yahoo!'s leading Internet guide in the United Kingdom, Germany and France during 1996. Yahoo! Europe plans to launch local Web guides in other European markets in 1997. Tim Koogle, President and CEO of Yahoo! Inc., said, "We are delighted to be taking this next, powerful step in our relationship with Ziff-Davis. Our strategy is be the first search and directory company to offer a leading, comprehensive guide to the Internet in Europe, just as we are doing in Japan and Canada. Ziff-Davis' publishing experience in Europe and online will ensure this strategy is fully realized." J.B. Holston, President of the Ziff-Davis International Media Group, said, "Use of the Internet in the various European markets is increasing at an exponential rate. As users become more familiar with the technology, they are increasingly demanding services in their own language that are tailored to their needs and environments."

According to Network Wizards, there are eight million Internet users and more than 1.5 million Internet hosts in Western Europe. Forrester Research estimates that the European markets for online services will be the fastest growing in the world during the next two years, with annual growth rates in excess of 80%.

Yahoo! is already popular among Web users in Europe. Approximately 10% of Yahoo! users in 1995 were located in Europe, according to a company survey. Today's announcement is the fourth in a series of strategic initiatives between Yahoo! Inc. and Ziff-Davis or its parent company, Softbank. This includes: Yahoo! Internet Life, a Web site (http://www.zdnet.com/yil/) that generates the content for an accompanying magazine; Yahoo! Japan, which was founded in January of this year, debuted on April 1, and has already become Japan's most popular Web directory; Yahoo! Computing ( http://www.yahoocomputing.com), the first editorial-driven service that guides Web citizens to the best computing resources on the World Wide Web; and now Yahoo! Europe.

About Ziff-Davis

Ziff-Davis, a Softbank company, is the leading publisher of computer magazines and online computing content. With the upcoming debut of its daily, primetime TV show on MSNBC, Ziff-Davis will also become the leading producer of television programming about the digital revolution. As a result, Ziff-Davis is rapidly becoming the leading provider of an integrated system of print, broadcast, and electronic media that reaches all the audiences with a special interested in computing and the Internet.

In Europe, Ziff-Davis publishes: PC Magazine, PC Direct and Computer Life in the UK; PC Professionell, PC Direkt and Pl@net in Germany; as well as PC Expert and PC Direct in France. All of these titles can also be found on the Internet at http://www.zdnet.com/zdeurope/ In addition, Ziff-Davis recently agreed to acquire European Computer Sources from the Asian Sources Media Group. Ziff-Davis also co-publishes or licenses another 58 titles distributed in more than 100 countries worldwide.

About Softbank

Softbank, whose stock is traded over-the-counter in Tokyo, had revenues of approximately $1.7 billion in the fiscal year ended March 31, 1996. It is the leading infrastructure provider to the global information technology industry. Founded in 1981, Softbank is Japan's largest distributor of computer software, peripherals, and systems, as well as Japan's largest publisher of computer-related magazines and books.

About Yahoo! Inc.

Located in Sunnyvale, California, Yahoo! Inc., offers a globally-branded Internet navigational service that is among the most widely-used guides to information and discovery on the Web. Yahoo! provides a context-based directory structure for Internet resources, as well as a Web-wide search engine that is seamlessly integrated with the Yahoo! directory service. Yahoo! is one of the most visible and recognizable names associated with the Internet. The company is continuing to develop a family of Yahoo!-branded media properties in targeted subject matter (Yahoo! Computing, Yahoo! Internet Life), demographic (Yahooligans!, a Web guide for kids), and geographic areas (Yahoo! Japan, Yahoo! Canada). Yahoo! can be found on Web at http://www.yahoo.com.

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For More Information, Contact:

Karen Edwards
Yahoo! Inc.
408-328-3311

Greg Jarboe
Ziff-Davis US
617-225-3500

Belinda Raynes
Ziff-Davis UK
0171-378-6800