First-Ever Vimeo(R) Festival & Awards Celebrates Creative Online Video and Opens for Awards Submissions

Leading Industry Luminaries and Award-Winning Creators to Judge Submissions; Winner of 'Best Online Video' Award to Receive US$25,000 Grant to Produce New Work

NEW YORK, June 3, 2010 - Vimeo(R), an operating business of IAC (Nasdaq: IACI), opened the
submissions window today for the Vimeo Awards, which honors creative and
original online videos and the people that create them.

Starting today, people around the world can submit their videos for
consideration across nine judged categories. The judges will choose the Best
Online Video from the top videos in each category, and that winner will
receive a US$25,000 grant to produce new work. Videos must have debuted
online within the past two years to be considered. Vimeo will announce the
winners during an awards ceremony at the close of its two-day festival on
October 8-9 in New York City. Additionally, Vimeo will preview some of the
finalists' work at a screening event in Amsterdam in September.

"The Vimeo Festival & Awards is an acknowledgement of - and showcase for -
the unprecedented level of creativity, skill and innovation coming from
online video today," said Dae Mellencamp, Vimeo's General Manager. "We
believe that the awards will not only honor the best work but, by pairing it
with a festival, will also bring creative online communities together to
learn from and be inspired by each other."

An independent panel of judges comprised of luminaries and experts within
their categories will evaluate and select award winners. The judges include:

    - Adam Quirk of Wreck and Salvage (wreckandsalvage.com)
    - David Lynch (www.imdb.com/name/nm0000186)
    - DJ Spooky (www.djspooky.com)
    - Doug Pray (dougpray.com)
    - Fred Seibert (fredseibert.com)
    - Justin Cone (justincone.com)
    - Jose Luis de Vicente (www.picnicnetwork.org/person/22365/en)
    - Lucy Walker (www.imdb.com/name/nm1013671)
    - Morgan Spurlock (www.imdb.com/name/nm1041597)
    - Nabil Elderkin (www.nabil.com)
    - Nicholas Schmerkin (www.imdb.com/name/nm0772645)
    - Nick Campbell (greyscalegorilla.com)
    - Roman Coppola (www.imdb.com/name/nm0178910)
    - Ree Treweek of the Blackheart Gang
       (www.cartoonist.co.za/reetreweek.htm)
    - Vincent Laforet (www.laforetvisuals.com)
    - ... and more to be announced.

"I am so happy to take part in this acknowledgement of independent
filmmakers from around the world," said Morgan Spurlock. "It is definitely
time for the online creative community to be celebrated."

"This is an incredibly exciting time to be a filmmaker- the technology is
there now that will enable a talented individual to produce amazing work and
to share it with the world on Vimeo," said Vincent Laforet. "They can expect
an incredible level of feedback from the Vimeo community comprised of fellow
creatives, and I am very excited to have been asked to be one of the judges
of this competition!"

    The categories include:

    1.  The Vimeo Award: Best of all categories. Winner to receive US$25,000
        grant to produce new work.
    2.  Narrative: Live-action narrative fiction told through the medium of
        film/video
    3.  Documentary: Short films/videos that seek to document compelling
        actuality or reality
    4.  Animation: A simulation of movement created by displaying a series of
        pictures or frames.
    5.  Experimental: Short films/videos that are often characterized by the
        absence of a linear narrative.
    6.  Music Video: Short films/videos that accompany a complete piece of
        music or song
    7.  Motion Graphics: The use of the principles of graphic design to
        create a film or video using animation or filmic techniques.
    8.  Remix: A film/video that combines elements such as sounds and
        pictures of other works to create a metamorphic work.
    9.  Captured: Videos that capture an artistic expression or performance
    10. Original Series: A periodically released collection of original
        episodic content

Honorary Awards:

    - The Feature Presentation Honorary Award: Honoring the vanguard and
      innovative release of unique feature film online (Nominations accepted)
    - Digital Maverick Honorary Award: Honoring pioneering spirit in the
      world of online video.

The Vimeo Awards will accept submissions from June 3, 2010 - July 31,
2010 for a $20 (U.S.) fee per-video (US$5 for Vimeo Plus members) at
www.vimeoawards.com. Entrants can submit any original work as long as
it has premiered online between June 3, 2008 and July 30, 2010 or has never
been premiered anywhere. All entries must comply with the Official Rules of
the Vimeo Festival & Awards. Additional details on the festival to be
announced shortly. For more information on the Vimeo Festival & Awards,
please visit www.vimeoawards.com.

About Vimeo, LLC

Leading high quality video sharing site Vimeo(R) is a vibrant, respectful
community of people who love to take video. The site features beautifully
produced video from its many talented video creators. Launched in 2004 and
headquartered in New York, NY, Vimeo offers users a video sharing experience
that is both entertaining and easy to use. Vimeo was listed as a Time
Magazine Top 50 Website in 2009. Vimeo, LLC is a subsidiary of IAC (NASDAQ:
IACI).

Deborah Szajngarten, +1-212-524-8776, press at vimeo.com