InsWeb Purchases Common Stock from Intuit and Softbank

Sacramento-based InsWeb Corp. recently announced that it has purchased 2,241,440 shares of InsWeb Corporation common stock, consisting of 1,169,898 shares held by Intuit Insurance Services Inc. and 1,071,542 shares held by SOFTBANK America Inc. The shares were purchased for $3.8 million, or $1.70 per share. With the closing of this transaction, Softbank Corporation holdings of InsWeb common stock have been reduced to 353,032 shares, while Intuit Insurance Services Inc. holds no additional shares.

Following these transactions, InsWeb has 4,705,104 shares of common stock outstanding and at Dec. 31, 2002 had $28.9 million in cash and short-term investments.