Audible Announces Pricing of Common Stock Offering

Business Wire, Nov 18, 2004

WAYNE, N.J. -- Audible, Inc. (NASDAQ: ADBL), the leading provider of digitally delivered spoken word audio, today announced that it has priced its offering of 1,500,000 shares of common stock at a public offering price of $24.50 per share. The common stock is expected to be issued on November 23, 2004, subject to customary conditions. Several stockholders of the Company are also selling 3,725,000 shares of common stock in the offering.

Audible expects to receive net proceeds of approximately $34.5 million from the sale of the 1,500,000 shares. If the underwriters elect to exercise an option to purchase from the Company an additional 522,500 shares of common stock to cover over-allotments, the Company will receive an additional approximately $12.1 million in net proceeds. Audible plans to use these proceeds for general corporate purposes.

Citigroup Global Markets is acting as sole book-running manager for the offering. ThinkEquity Partners LLC, Adams Harkness, America's Growth Capital, Kaufman Bros., L.P., and Merriman Curhan Ford & Co. will act as co-managers.

About Audible.com:

Audible.com, recently named the best consumer Web service by CNet.com, and one of the "Best of Today's Web" by PC World features daily audio editions of The Wall Street Journal and The New York Times -- available on a subscription basis in time for the morning drive to work each day--as well as Forbes, Harvard Business Review, Scientific American, and Fast Company. The site offers a powerful collection of audiobook best sellers and classics by authors such as Tom Clancy, Stephen King, John Grisham, Janet Evanovich, James Patterson, the Dalai Lama, David McCullough, Stephen Hawking, William Shakespeare, Emily Dickinson, and Jane Austen. There are also speeches, lectures, and on-demand radio programs including Marketplace, All Things Considered, Car Talk, Fresh Air, and This American Life, and original shows such as RobinWilliams@audible.com. All of the programs at audible.com are available for computer-based playback, burning to audio CD, and on-the-go listening using numerous AudibleReady(R) portable digital audio players offered by leading consumer electronics and computer manufacturers.

About Audible, Inc.:

Audible(R) (www.audible.com(R)) is the Internet's leading premium spoken audio source. Content from Audible is downloaded and played back on personal computers, CDs, or AudibleReady(R) computer-based mobile devices. Audible has 55,000 hours of audio programs from more than 175 content partners that include leading audiobook publishers, broadcasters, entertainers, magazine and newspaper publishers, and business information providers. Audible.com is

Amazon.com's and the Apple iTunes Music Store's pre-eminent provider of spoken word products for downloading or streaming via the Web. Additionally, the Company is strategically aligned with Random House, Inc. in the first-ever imprint to produce spoken word content specifically suited for digital distribution, Random House Audible. Among the Company's key business relationships are Apple Corp., Bertelsmann AG, Creative Labs, holtzbrinck networXs, Hewlett-Packard Company, Microsoft Corporation, palmOne, Inc., PhatNoise Inc., RealNetworks, Inc., Rio Audio, Roxio, Inc., Sony Electronics, Texas Instruments Inc., and VoiceAge Corporation.

Audible, www.audible.com, AudibleListener, and AudibleReady are registered trademarks 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.