The Internet Shopping Network Appoints Silicon Graphics Executive Kirk Loevner as President and Chief Executive Officer

Business Wire, Oct 15, 1996

PALO ALTO, Calif.--(BUSINESS WIRE)--Oct. 15, 1996--The Internet Shopping Network (ISN), a wholly-owned subsidiary of Home Shopping Network, Inc. (NYSE: HSN), and the leading computer retailer on the Internet, today announced that Kirk Loevner has joined the company as its new president and chief executive officer. Mr. Loevner, 38, will be responsible for managing the company's day-to-day operations and for seeking out new opportunities to expand its services and product line offerings. Loevner replaces former president, CEO and company co-founder, Randy Adams.

Prior to joining ISN, Loevner was Vice President and General Manager of Applications at Silicon Graphics. There, he expanded SGI's business in the engineering, entertainment, and scientific markets, and developed new strategic markets for SGI such as the financial services market. Loevner joined SGI in 1993, and in that time has been responsible for doubling the number of third party software applications and developers. Before he joined SGI, Loevner held numerous executive positions at Apple Computer.

"As electronic commerce continues to evolve, Mr. Loevner's experience will prove invaluable to the future growth of the Internet Shopping Network," said James G. Held, President and Chief Executive Officer of Home Shopping Network, Inc. Added Barry Diller, Chairman of Home Shopping Network, "Mr. Loevner's background is ideal and I am delighted he agreed to lead the adventure of developing the Internet Shopping Network."

"The Internet is in the process of transforming retailing as we have known it," said Loevner. "ISN is at the forefront of this transformation, providing unparalleled convenience, selection and information to the consumer. I am looking forward to contributing to the company's long-term success."

Bill Rollinson, ISN co-founder and vice president of marketing, said: "Loevner brings to ISN invaluable experience and expertise in building and managing strategic partnerships. We are confident that, under his leadership, we will attract world-class strategic partners who will dramatically enhance the value-added services we provide to our customers."

From 1984 to 1993, Loevner was with Apple Computer, most recently as Vice President/General Manager, Applesoft Products. In this capacity, he had responsibility for sales of system software, utilities, imaging, collaboration, and multimedia products. Loevner also spent five years at Apple as Vice President of the Apple Developer Group. There, he led Apple's efforts with third party developers, bringing over 10,000 new software and hardware products to the Apple Macintosh.

Loevner started his professional career at Visicorp, one of the early pioneers in the software industry.

Loevner has a B.S.E. in Computer Science & Applied Mathematics from Tufts University, and an M.B.A. from Harvard University.

Since 1992, Loevner has served on the Board of Directors for the Software Publishers Association, and is currently Vice-Chairman of the organization.

About Internet Shopping Network

The Internet Shopping Network (ISN), a division of the billion-dollar television retailer Home Shopping Network, is the first large-scale enterprise to embrace the Internet as a new medium for conducting commerce. ISN is one of the largest on-line computer retailers, offering shoppers access to a broad range of products. Included are over 40,000 computer hardware and software products.

ISN is the recipient of many awards for its pioneering work in the area of Internet electronic commerce. Awards include: Recognition for being one of the top 100 sites on the Web, P.O.V. Magazine, September 1996; Recognition for superior site, the All-Internet Shopping Directory, July 1996; Best retail site based on design, useability and content, Eye on the Web, July 1996; Electronic Commerce Excellence Award, Business OnLine '96 Symposium, June 1996; Top 10 Business and Commerce Site, PC Magazine, May 1996; Top 10 Shopping Site, I way 500, March 1996.

Shoppers can access ISN through the World Wide Web (WWW), and through popular online services like America Online, CompuServe and Prodigy. ISN's WWW address (URL) is http://www.isn.com.

CONTACT: Corman/Croel Marketing & Communications

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