HSN, Inc. Completes Spin-off from IAC; Commences NASDAQ Trading Under Symbol HSNI

August 21, 2008, St. Petersburg, FL – HSN, Inc. (HSNi), a leading multi-channel interactive retailer, today completes its previously announced spin-off from IAC (NASDAQ: IACI), marking its debut as an independent, publicly traded company. HSNi, whose shares have been trading on a “when issued” basis under the symbol “HSNiV” since August 12, 2008, today begins “regular way” trading on the NASDAQ under the symbol “HSNi.”

“HSNi comprises some of the most dynamic brands and experiences in retailing today,” said Mindy Grossman, CEO of HSNi. “As an independent company, we’ll be able to more fully convey HSNi’s points of differentiation, which we believe will result in a more accurate valuation of our Company and greater value for our shareholders.”

About HSNi

HSN, Inc. (NASDAQ: HSNi) is a leading interactive multi-channel retailer, with eight unique, proprietary and compelling lifestyle brands. HSNi offers innovative, differentiated retail experiences on TV, online, in catalogs, and brick and mortar stores. The Company’s two operating segments, HSN and Cornerstone, have exceptional direct-to-consumer expertise, shipping 50 million products and handling 50 million inbound customer calls annually. HSN comprises the Company’s TV network which reaches 90 million homes and hsn.com, one of the top 10 most trafficked e-commerce sites. Cornerstone consists of seven lifestyle brands (Ballard Design, Frontgate, Garnet Hill, Improvements, Smith & Noble, The Territory Ahead, and Travelsmith) that mail 400 million catalogs annually and operate seven separate e-commerce sites. E-commerce currently comprises approximately 33% of HSNi’s sales. The Company is also the leader in advanced TV technology in the U.S., with Shop By Remote available in more than 15 million homes.

Contacts:

Media:
Nancy Bushkin
Nancy.bushkin@hsn.net
727-872-4084

Analysts:
Judy Schmeling
Judy.schmeling@hsn.net
727-872-7685