Thursday, December 08, 2005

Worldstock

WINDOW ROCK, Ariz. and SALT LAKE CITY, Dec. 7 /PRNewswire-FirstCall/ --President Joe Shirley, Jr. of the Navajo Nation reported today thatWorldstock(TM), the department within Overstock.com(R) (Nasdaq: OSTK) thatsupports social entrepreneurship, is now one of the largest sources of privateemployment on Navajoland, an area which spans 27,000 square miles across Utah,Arizona and New Mexico. (Logo: http://www.newscom.com/cgi-bin/prnh/20030520/LATU020LOGO-a) Navajo Nation President Shirley said, "As one of our largest job-creators,Worldstock purchases goods from 584 Navajo artisans who earn a living and carefor their families, while preserving the traditions of our culture. We aregrateful for Worldstock's support in protecting our Nation's independence." Patrick Byrne, president of Overstock.com, founded Worldstock in Octoberof 2001 to reduce global poverty. Unlike traditional charities or relieforganizations, Worldstock does not provide handouts. Worldstock contracts withskilled craftspeople in developing countries and helps them establish long-term businesses for selling their products through the Worldstock tab athttp://www.overstock.com. On average, artisans receive 60 to 70 percent of whatconsumers spend in Worldstock. Worldstock sells the Navajo Nation's handcrafted Native American jewelry,clothing, accessories, artwork, baskets and rugs, which are certified asauthentic by the Counsel for Indigenous Arts & Culture. Worldstock will alsostart selling hand-sewn Pendleton wool pillows from women in shelters acrossthe Navajo Nation. Byrne said, "Crafts from the Navajo Nation are world-renowned for theiraesthetic beauty, and yet their history and significance are equallyfascinating. We're honored to sell them and privileged to work with theartisans who make them." About Overstock.com Overstock.com Inc. is an online "closeout" retailer offering discount,brand-name merchandise for sale over the Internet. The company offers itscustomers an opportunity to shop for bargains conveniently, while offering itssuppliers an alternative inventory liquidation distribution channel.Overstock.com is a publicly traded company listed on the NASDAQ NationalMarket System, headquartered in Salt Lake City, and can be found online athttp://www.overstock.com. Overstock.com is a registered trademark, and Worldstock is a trademark, ofOverstock.com, Inc. All other trademarks are the property of their respectivecompanies. This press release contains certain forward-looking statements within themeaning of Section 27A of the Securities Act of 1933 and Section 21E of theSecurities Exchange Act of 1934. Such forward-looking statements include, butare not limited to, statements regarding eradicating global poverty, thenumber of people employed, and such other risks as identified in our asidentified in our 10-K for the year ended December 31, 2004, and all oursubsequent filings with the Securities and Exchange Commission, which containand identify important factors that could cause the actual results to differmaterially from those contained in our projections or forward-lookingstatements.
SOURCE Overstock.com, Inc.Web Site: http://www.overstock.comPhoto Notes:http://www.newscom.com/cgi-bin/prnh/20030520/LATU020LOGO-a APArchive: http://photoarchive.ap.org PRN Photo Desk,photodesk@prnewswire.com