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Overstock Celebrates California Court of Appeal 3-0 Decision Affirming in Full the Judgment of Trial Court to Allow Overstock.Com to Proceed in Rocker/Gradient Litigation

Posted on: Wednesday, 30 May 2007, 21:00 CDT

SALT LAKE CITY, May 30 /PRNewswire-FirstCall/ -- Overstock.com, Inc. today announced the decision of the California Court of Appeal rejecting the appeal of Gradient Analytics and Rocker Partners in Overstock.com et al. v. Gradient Analytics et al. The unanimous decision rendered today by a three-judge panel affirmed in full the trial court's decision allowing Overstock to proceed in all of its causes of action against Gradient Analytics and Rocker Partners and their principals. Overstock has sued the defendants for libel, unfair business practices and tortuous interference.

Jonathan Johnson, Overstock Senior Vice President of Legal said, "The Court of Appeal ruled strongly in our favor on every point. This is the second time that an independent court has found that Overstock has a 'reasonable probability' of prevailing on the merits. Now that we're through the defendants legal smokescreens, we are eager to get this case to trial. We look forward to the day when we expose in detail the defendants' misconduct to a jury."

Patrick Byrne, Chairman and CEO of Overstock said, "This case is about criminal activities that are undermining American capital markets. For nearly 22 months, these blackguard defendants have made frivolous arguments trying to hide their actions in the skirts of the First Amendment. The trial court rejected their arguments on all 8 counts of the lawsuit. Unsolicited, the California Attorney General weighed in on our side with an amicus curiae brief. Now in a 3-0 decision the California Court of Appeal has unanimously ruled in Overstock's favor."

Byrne continued, "Most interestingly, the miscreants have had the full support of compliant financial journalists who for nearly two years have blindly parroted arguments that have now been rejected by a trial judge, an attorney general, and an appellate court. I believe that these journalists' willingness to engage in this behavior will someday be seen as the Gotterdammerung in the battle between Old Media and New Media."

Editors note: Download the entire 36 page decision here:

http://www.overstock.com/cgi- bin/d2.cgi?SEC_IID=22786&PAGE=staticpopup&sta_id=10311&TRACK=FOOT_OI_L8

About Overstock.com

Overstock.com, Inc. is an online "closeout" retailer offering discount, brand-name merchandise for sale over the Internet. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory liquidation distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com/.

Overstock.com is a registered trademark of Overstock.com, Inc.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, statements regarding moving to trial, the results of any battle between Old Media and New Media, as well as all such other risks as identified in our Form 10-K for the year ended December 31, 2006, and all our subsequent filings with the Securities and Exchange Commission, which contain and identify important factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements.

Overstock.com, Inc.

CONTACT: media, Jared Matkin, +1-801-947-3880, jmatkin@overstock.com, orinvestors, Kevin Moon, +1-801-947-3282, kmoon@overstock.com, both ofOverstock.com, Inc.

Web site: http://www.overstock.com/

Source: PRNewswire-FirstCall

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