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(June 4, 2001) -- United NewVentures, a subsidiary of UAL Corp., which runs United Airlines' Web efforts and investments, signed an agreement to acquire San Francisco-based Internet direct marketing company MyPoints.com.

The deal calls for a subsidiary of United NewVentures to purchase all outstanding shares of MyPoints' common stock for $2.60. As of May 31, MyPoints had 40.7 million shares outstanding, which would value the transation at $105.8 million.

MyPoints.com will provided tailored solutions for united.com and the airline's Mileage Plus members, and the combined companies will create new services. MyPoints Program members will now have access to offers from United Airlines, including a redemption agreement enabling them to redeem their points for travel awards on United. -- Cara Beardi and Adrienne Mand

Copyright June 2001, Crain Communications Inc.

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