The Audible.Com Otis Digital Audio Player to Be Available Free with Membership to Apple Computer Users

Business Wire, Dec 3, 2002

Business Editors/High-Tech Writers

WAYNE, N.J.--(BUSINESS WIRE)--Dec. 3, 2002

Audible, Inc. (NASDAQ:ADBL) today announced that by Friday, December 6, 2002 the Audible.com(R) Otis(TM) portable digital audio player will become fully compatible with Apple computers and software. Users will soon be able to download audio files, transfer them to the Otis and listen to any of Audible's 34,000 hours of valuable spoken audio on the go. Audible is the leading provider of downloadable spoken audio that informs and entertains anywhere and at anytime with audio editions of books, newspapers, magazines, radio programs and original shows.

The Audible.com Otis, which has received top ratings from the editors of the leading consumer technology site CNet.com, is available for free when the user joins one of Audible's unique, flat-rate AudibleListener(TM) membership programs for 12 months. $14.95 per month BasicListener program offers users the choice of any one of Audible's 6,000 audiobooks each month, as well as a one-month subscription to one of Audible's subscription programs (www.audible.com/subscriptions) that range from daily audio digests of The Wall Street Journal and The New York Times to Forbes magazine, Scientific American and RobinWilliams@audible.com. Premium Listener gives the user any two audiobooks for $19.95 per month, a savings of 60-85% compared to traditional audiobooks on cassette or CD.

The Audible.com Otis, with 64 MB of internal memory and a card slot for adding an external SD memory card, is capable of playing MP3 files as well as Audible's own secure audio formats. The Otis can store and play up to 18 hours of Audible audio in internal memory, and many hours more are available when using an external memory card.

"The Otis has been a hit with Audible's customers and Windows users," stated Donald Katz, chairman and CEO, Audible, Inc. "We are very pleased to offer our popular free MP3 player to the culture and information consumers who favor Apple computers."

In related news Audible, Inc. announced today that it has received a Nasdaq Staff Determination letter on November 27, 2002, indicating that the company does not comply with Marketplace Rule 4310(c)(2)(B) which requires the Company to have a minimum $2,500,000 in stockholders' equity or a market capitalization of $35,000,000 or have a minimum of $500,000 of net income from continuing operations for the most recently completed fiscal year or two of the three most recently completed fiscal years. Accordingly, the company's securities are subject to de-listing from the Nasdaq Small Cap Market.

Audible has requested and been granted a hearing scheduled for December 19, 2002 before the Nasdaq Listing Qualifications Panel to review the Staff Determination. The de-listing of Audible's common stock is deferred pending a decision by the panel. There can be no assurance that the panel will grant the company's request for continued listing. If the company's common stock is de-listed from the Nasdaq Small Cap Market, the company expects that its common stock would trade on NASD's OTC Bulletin Board. Management sees no negative impact of the potential of moving to OTC on operations or the achievement of growth and profitability.

About Audible, Inc.:

Audible(R) (www.audible.com(R)) is the Internet's largest, most diverse provider of premium spoken audio services for content download and playback on personal computers, CD or AudibleReady(R) computer-based mobile devices. Audible has more than 34,000 hours of audio programs and 125 content partners that include leading audiobook publishers, broadcasters, entertainers, magazine and newspaper publishers and business information providers. Audible.com is Amazon.com's (www.amazon.com) exclusive provider of spoken word products for downloading or streaming via the Web. Additionally, the Company is strategically aligned with Random House, Inc., to pioneer the first-ever imprint to produce spoken word content specifically suited for digital distribution, Random House Audible. Among the Company's key business partners are Apple Corp., Card Access Inc., Casio Inc., Compaq Computer Corporation, Handspring, Hewlett-Packard Company, Microsoft Corporation, Palm, Inc., Royal Philips Electronics, RealNetworks, Inc., SONICblue Incorporated's Rio Audio Group, Sony Electronics, Texas Instruments and VoiceAge Corp.

Audible, www.audible.com and AudibleReady are registered trademarks of Audible, Inc.; AudibleListener is a trademark of Audible, Inc. and all are part of the family of Audible, Inc. trademarks.

Other product or service names mentioned herein are the trademarks of their respective owners.

This press release contains information about Audible, Inc. that is not historical fact and may be deemed to contain forward-looking statements about the company. Actual results may differ materially from those anticipated in any forward-looking statements as a result of certain risks and uncertainties, including, without limitation, Audible's limited operating history, history of losses, uncertain market for its services, and its inability to license or produce compelling audio content and other risks and uncertainties detailed in the company's Securities and Exchange Commission filings.