Angie's List Release Confirms Reception Of IAC Offer

Angie's List (Nasdaq:

) today confirmed that it has received an unsolicited proposal from IAC/InterActiveCorp (Nasdaq:

) to acquire the Company for $8.75 per share in cash. IAC has also indicated its willingness to consider a combination of Angie's List with IAC's HomeAdvisor business through a tax-free stock-for-stock exchange. The Angie's List Board of Directors and management team are committed to acting in the best interests of all Angie's List shareholders. Consistent with its fiduciary duties, the Angie's List Board, in consultation with its independent financial and legal advisors, will carefully review and evaluate IAC's proposal to determine the course of action that the Board believes is in the best interest of the Company and all Angie's List shareholders. Angie's List shareholders need take no action at this time. BofA Merrill Lynch is serving as a financial advisor to Angie's List and Sidley Austin LLP is serving as a legal advisor.