“PayPal Meets MasterCard” Without The High Fees

Here is the news release regarding Revolution Money. I am pleased to say that I am both chairman of and an investor in this new company and I have high hopes for it. It is yet another example of how Web 2.0 technologies and business processes can help to transform an industry to the benefit of consumers.

FOR IMMEDIATE RELEASE

MEDIA CONTACT:Brad Burns202-776-1400brad.burns@revolution.com

REVOLUTION JOINED BY INDUSTRY LEGENDS AND MAJOR BANKS TO LAUNCH REVOLUTIONARY PAYMENT SYSTEM Steve Case, Ted Leonsis, Larry Summers, David Pottruck, Russell Hogg and others form and invest in company to transform payment industry New company to be called Revolution Money; Internet pioneer Leonsis named Chairman

New Internet-based payment system with innovative credit card drastically alters economics of the industry, generating significant consumer benefits and higher level of security; saves merchants and online store owners on rising interchange fees

Company first to combine the power of free online money transfer with credit and pre-paid in one integrated offering

WASHINGTON, September 24, 2007

My Dad

My dad, Louis T. Leonsis, passed away last night. He was almost 94 years old. I was with him and held his hand and told him how much he meant to me. He was a great father. I will miss him more than words can describe.

 He was a sweet man and a very kind soul. As an only child, I have lost my mom (19 years ago) and now my dad and move forward in life as father and husband now to my family. The circle of life continues. I hope you will keep him in your thoughts and prayers and respect our family’s privacy on this matter.

So What is The Big Deal About Third Party Networks?

The Internet is still growing in terms of unique visitors; time spent online; revenue and ad growth; and overall bandwidth consumption. Plus every day additional sites, blogs and social network pages are added to the mix. That is a good thing. As an aside, the North American unique visitor universe is now over 181 million. I remember when we hit two million total unique visitors in the US as an industry.

The Internet is still growing in terms of unique visitors; time spent online; revenue and ad growth; and overall bandwidth consumption. Plus every day additional sites, blogs and social network pages are added to the mix. That is a good thing. As an aside, the North American unique visitor universe is now over 181 million. I remember when we hit two million total unique visitors in the US as an industry. Note that there are ONLY four networks of mega-scale (more than 100 million uniques) - Yahoo, Microsoft, Google and Time Warner (AOL). FOX and eBay sites are getting close with almost 80 million and then it drops off from there. As you can see, as the Internet grows the big portals and networks are getting less and less share of the overall unique visitor universe. This is analogous to ABC, CBS and NBC losing shares while TV viewing grows in a 900 channel universe. The networks are still the biggest games in town but just not as big as an overall percentage so their power and effectiveness to advertisers is lessened over time. But scroll down and see the listing of third party networks. There are now 15 networks with more than 100 million aggregated unique visitors. They outnumber the homegrown networks of AOL and of Yahoo. My bet is you haven

Get Involved

Kudos to MTV. They have finally delivered a great new site — for the good — for young adults. Backed by great charitable foundations and MTV, this is a true social network respecting the right to do the right thing in the right way.

We Are In It Together

As part of the new CBA in the NHL, the players are our partners. They receive the lions share of the revenues and of our growth. I am so pleased that our players are now sharing in some of the work in helping us to call season ticket holders and encouraging them to renew their seats for this season.

 This was a very nice gesture by our players. They understand how important it is to show connection to our community and the small investment in time by our players goes a long way to create a positive atmosphere for us all. This kind of effort is also made possible by our development of the Kettler Capitals Iceplex. Having the front office and practice facility all in one place has created the opportunity to do all sorts of interesting programs.