Overture launched operations in Austria and Switzerland. As part of its entry into the Austrian and Swiss markets, Overture announced it has signed search distribution agreements with Tiscali, GMX and
Abacho in both markets as well as Lycos in Switzerland. Overture's Austrian and Swiss operations will be managed by the company's office in Munich, Germany. Overture's paid placement search listings
are generated by advertisers who bid for placement on search terms relevant to their businesses. A multi-lingual editorial team based in Dublin, Ireland reviews these listings before they are
distributed to the company's Austrian and Swiss distribution partners. An advertiser only pays the bidded amount to Overture when a consumer clicks on one of its search listings. "Many of our European
advertisers market and sell their products and services in both Austria and Switzerland," said Brian Steel, President, Overture International. "Our launch into these new markets represents an
important and logical next step in our European expansion."