SALT LAKE CITY, Feb. 13 /PRNewswire-FirstCall/ -- Overstock.com, Inc. announced today that Thomas Woodside of Weyanoke, La., has won the January 2009 $10,000 Family Bailout Sweepstakes. Overstock.com will pay the $10,000 directly to one or more of Woodside's qualified creditors.
Woodside earns his living by remodeling homes. He and his wife have been hit hard by the fallout of Hurricane Katrina.
Overstock.com Chairman and CEO Patrick Byrne said, "With such a great response from our Holiday 2008 $50,000 Family Bailout Sweepstakes, we wanted to continue our help during the months ahead. We plan to continue this $10,000 sweepstakes every month through December of 2009."
Approximately 880,000 people entered the January sweepstakes. Woodside was selected as the winner according to contest rules. No purchase is necessary for eligibility. To enter go to http://www.overstock.com/familybailout. Additionally shoppers will have the choice to opt in to the contest when purchasing items through Overstock.com.
"We're pleased to be able to help out Mr. Woodside and his family," said Byrne. "He is a hard working individual and we hope this $10,000 will give his family the boost they need during these tough times."
Overstock.com created the Family Bailout plan in order to give Overstock.com visitors the chance to pay off their mortgage, credit cards, or other large debts in the current troubled economic times.
"This money will help me and my wife with our medical bills," said Woodside. "Thank you, Overstock.com."
About Overstock.com
Overstock.com, Inc. is an online retailer offering brand-name merchandise at discount prices. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory 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 regularly posts information about the company and other related matters on its website under the heading "Investor Relations."
Overstock.com(R) 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 which creditors of Mr. Woodside will receive payment, the number of months that the company will run this or similar sweepstakes, and the types of debts on which future winners may use sweepstakes proceeds. Our Form 10-K/A for the year ended December 31, 2007, our subsequent quarterly reports on Form 10-Q, or any amendments thereto, and our other subsequent filings with the Securities and Exchange Commission identify important factors that could cause our actual results to differ materially from those contained in our projections, estimates or forward-looking statements.
