Released on = July 23, 2006, 9:01 am

Press Release Author = Yi Lee Wu

Industry = Financial

Press Release Summary = Hong Kong investor Yi Lee Wu announced today a proposal to
purchase all outstanding shares of Overstock.com ( OSTK ) at $42.33 per share.

Press Release Body = The Board of Directors
Overstock.com
6350 South 3000 East
Salt Lake City, UT 84121


Re: Proposed purchase all outstanding shares Overstock.com

Ladies and Gentlemen:

Yi Lee Wu is pleased to submit a proposal; subject to the mutual execution of a
definitive agreement, to acquire all of the outstanding common stock of
Overstock.com at a cash purchase price of $42.33 per share.

The price of $42.33 per share represents a premium of 117% over the June 19, 2006
closing price of $19.51 per share.

Yi Lee Wu is prepared to proceed immediately with negotiations with the Board of
Directors and its advisors with the goal of producing a mutually satisfactory
agreement as soon as possible.

Please contact the undersigned at 270-675-5662 in order to establish a framework for
further disussions in this regard.

Sincerely,

Yi Lee Wu

30 Queens Road Central
Hong Kong

Web Site =

Contact Details = Yi Lee Wu
30 Queens Road Central
Hong Kong, S.A.R.

270-675-5662