Bankrate Appoints Steven Barnhart Interim CFO

• Announces SEC Investigation Relating to 2012 Financial Reporting

 Bankrate, Inc. RATE today announced the appointment of Steven D. Barnhart, as interim Chief Financial Officer, effective immediately.  He succeeds Edward J. DiMaria, Senior Vice President and Bankrate's current Chief Financial Officer.  Mr. Barnhart was most recently Senior Vice President and Chief Financial Officer of Sears Hometown and Outlet Stores. Prior to that, he was CFO at Bally Total Fitness, where he oversaw the finance and technology functions. From 2003 to 2009, Mr. Barnhart served in various executive leadership roles at Orbitz Worldwide, including Chief Financial Officer, President and then Chief Executive Officer. From 1990 to 2003, Mr. Barnhart served in various finance and strategy roles for PepsiCo, and as Finance Director, Southeast Business Unit, The Pepsi Bottling Group. He graduated from the University of Chicago with a Bachelor of Arts degree in Economics and an MBA in Finance from the Booth School of Business. Mr. Barnhart currently serves as the lead Independent Director on the Board of USA Technologies, a leader in cashless payment solutions for the small ticket, unattended retail market.  Mr. Barnhart will report to Bankrate's President and Chief Executive Officer Kenneth S. Esterow.  "Steve brings to Bankrate deep financial and operating experience with online commerce and consumer services companies," said Mr. Esterow. "We look forward to his contribution." Mr. DiMaria has resigned his position as Chief Financial Officer of Bankrate. He will remain a Senior Vice President of Bankrate. Bankrate also announced that the Securities and Exchange Commission (the "SEC") is conducting a non-public formal investigation relating to the Company's financial reporting during 2012, with the principal focus on the quarters ending March 31, 2012 and June 30, 2012. The investigation is examining three accruals of revenue totaling approximately $781,000 in the aggregate and two adjustments to reduce accrued expenses totaling approximately $850,000 in the aggregate. All of these entries were made during the close process for the second quarter of 2012. The investigation is also examining, among other things, (1) the timing and classification of additional entries relating to certain expenses, expense accruals and credits in the second quarter and other periods in 2012; (2) an entry originally made in the third quarter of 2011 establishing an allowance of $460,000 for anticipated customer credits in the Insurance business that was ultimately reversed in the first quarter of 2012; and (3) revenue and expense adjustments totaling $225,000 in May 2012 that were reversed in June 2012. The investigation is examining whether accounting entries in these periods may have improperly impacted the Company's reported results, including relative to market expectations at such time. In connection with the examination of the matters described above and developments in the ongoing SEC investigation, on September 14, 2014, Bankrate's Audit Committee, which is comprised entirely of independent outside directors, concluded that the Company's previously issued financial statements for each of fiscal years 2011, 2012 and 2013 should no longer be relied upon pending the conclusion of a full internal review of these matters, which is ongoing. The Audit Committee is retaining additional counsel and independent forensic accountants, who will be assisted in this review by Mr. Barnhart.  The Company is providing documents and information in response to the SEC's requests and is endeavoring to reach a resolution of the matter.    It is not possible to predict when matters relating to the SEC investigation or Bankrate's review of the financial statements referenced above will be completed, the final outcome of the SEC investigation or financial statement review, and what if any actions may be taken by Bankrate or the SEC.