InsWeb Corp. (NASDAQ: INSW), a leading online insurance marketplace, today announced results for the fourth quarter and year ended December 31, 2007.

Revenues for the fourth quarter of 2007 were $7.7 million, an increase of approximately 33% as compared to $5.8 million in the fourth quarter of 2006. Net income for the fourth quarter of 2007 was $1.3 million, or $0.23 per diluted share, which includes a one-time benefit of $985,000 related to a decrease in a lease loss accrual, compared to a net loss in the fourth quarter of 2006 of $0.3 million, or $0.08 per diluted share. The decrease in lease loss accrual relates to properties formerly used as the company's headquarters, which are subleased through September 2008.

Revenues for fiscal 2007 were a record $33.2 million, an increase of approximately 16% over the $28.5 million for fiscal 2006. Net income for fiscal 2007 was a record $2.4 million, or $0.46 per diluted share. This compares with a net loss of $3.4 million, or $0.82 per diluted share, for fiscal 2006.

Adjusted EBITDA, a non-GAAP financial measure used by InsWeb's management and defined below, amounted to $617,000 in the fourth quarter of 2007, compared to $692,000, including $35,000 in severance expense, in the third quarter of 2007. Adjusted EBITDA for fiscal 2007 was a record $2.7 million, compared to a loss of $4.9 million for fiscal 2006.

"Our record fiscal 2007 results and first year of profitability reflect our continued success in evolving our model and scaling our business. We are pleased to have posted four consecutive quarters of net income and sustained profitability in the fourth quarter despite traditional seasonality within the insurance industry during the holiday period," stated InsWeb Chairman & CEO Hussein Enan. "Since launching our AgentInsider® Agent Directory in the first week of January 2008, early results have been promising, as we have already registered approximately 450 Auto and Home agents and generated initial advertising and listings/subscription revenue, both of which represent new revenue streams for InsWeb. As we enter fiscal 2008, we believe the successful scaling of this offering will provide InsWeb with an opportunity for continued growth and expansion. Looking ahead, we expect our year-over-year growth in 2008 to exceed that of 2007, along with expanding profitability."

As previously reported, InsWeb is a defendant in a patent infringement lawsuit brought by Autobytel. InsWeb has been a business partner with Autobytel and/or its subsidiaries for more than 6 years and contends that the relevant functional aspects of InsWeb's technology has not materially changed since 1997, a date that precedes Autobytel's patent application by more than one year. As a business partner, Autobytel knew of InsWeb's business processes for many years without complaining of infringement. While this litigation is in the early stages, InsWeb's retained counsel believes the Company has meritorious defenses of non-infringement, patent invalidity and unenforceability. InsWeb intends to defend itself vigorously and pursue all available options with regard to this action.

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