EXHIBIT 99.1
               PRICELINE.COM DECLARES 1-FOR-6 REVERSE STOCK SPLIT

           Priceline.com updates 2nd quarter 2003 financial guidance,
                     earnings targets on a post-split basis

     NORWALK, Conn., June 16, 2003 . . . Priceline.com(R) Incorporated (Nasdaq:
PCLN) announced today that it had effected a 1-for-6 reverse stock split of all
outstanding shares of its common stock, par value $0.008 per share. The reverse
stock split was effective at 12:01 a.m. this morning.

As a result of the reverse stock split, each priceline.com stockholder will
receive 1 new share of priceline.com common stock in exchange for every 6 old
shares. Stockholders who hold their shares in brokerage accounts or "street
name" will not be required to take any action to effect the exchange of their
shares. Stockholders of record who hold share certificates will receive a letter
of transmittal requesting that they surrender their old stock certificates for
new stock certificates reflecting the adjusted number of shares as a result of
the reverse stock split. Mellon Investor Services, LLC, priceline.com's transfer
agent, will act as the exchange agent for purposes of implementing the exchange
of stock certificates.

Also today, priceline.com updated its 2nd quarter 2003 financial guidance. "Our
previous pre-split guidance was for 2nd quarter earnings per share in the range
of $0.02 to $0.03," said priceline.com Chief Financial Officer Robert J. Mylod,
Jr. "On a post-split basis, this translates to earnings of between $0.12 to
$0.18 per share, and we remain comfortable with estimates within that range."
The average First Call consensus earnings estimate for the 2nd quarter 2003 was
for net income of $3.6 million, which translates to $0.10 per share on a
post-split basis.

Priceline.com's reverse stock split will reduce the Company's shares of common
stock outstanding from approximately 227 million to approximately 37.5 million.
"Priceline.com has a well-recognized brand, no debt, a strong cash position and
an attractive array of products," said priceline.com President and CEO Jeffery
H. Boyd. "We believe priceline.com is well-positioned to be a long-term winner
in online travel. We also believe that this reverse stock split enhances our
position by expanding investor interest, reducing transaction costs for trading
our stock, making our results more comparable to peer companies with far fewer
outstanding shares, and allowing priceline.com's earnings per share on a
post-split basis to more precisely reflect the Company's operating results."

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ABOUT PRICELINE.COM

Priceline.com offers products for sale in two categories: a travel service that
offers leisure airline tickets, hotel rooms, rental cars, vacation packages and
cruises; and a personal finance service that offers home mortgages, refinancing
and home equity loans through an independent licensee. Priceline.com also owns
the Internet domain names and trademarks of LowestFare.com, another Web-based
travel site. Priceline.com licenses its business model to independent licensees,
including pricelinemortgage and certain international licensees.

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For press information:  Brian Ek at priceline.com  203-299-8167
(brian.ek@priceline.com)


INFORMATION ABOUT FORWARD-LOOKING STATEMENTS



This press release may contain forward-looking statements. These forward-looking
statements are not guarantees of future performance and are subject to certain
risks, uncertainties and assumptions that are difficult to predict; therefore,
actual results may differ materially from those expressed, implied or forecasted
in any such forward-looking statements. Expressions of future goals and similar
expressions including, without limitation, "may," "will," "should," "could,"
"expects," "does not currently expect," "plans," "anticipates," "believes,"
"estimates," "predicts," "potential," "targets," or "continue," reflecting
something other than historical fact are intended to identify forward-looking
statements. The following factors, among others, could cause the Company's
actual results to differ materially from those described in the forward-looking
statements: adverse changes in general market conditions for leisure and other
travel products as the result of, among other things, terrorist attacks; adverse
changes in the Company's relationships with airlines and other product and
service providers including, without limitation, the withdrawal of suppliers
from the priceline.com system; the bankruptcy or insolvency of another major
domestic airline; the effects of increased competition; systems-related failures
and/or security breaches; the Company's ability to protect its intellectual
property rights; losses by the Company and its licensees; final adjustments made
in closing the quarter; legal and regulatory risks and the ability to attract
and retain qualified personnel. For a detailed discussion of these and other
factors that could cause the Company's actual results to differ materially from
those described in the forward-looking statements, please refer to the Company's
most recent Form 10-Q, Form 10-K and Form 8-K filings with the Securities and
Exchange Commission. Unless required by law, the Company undertakes no
obligation to update publicly any forward-looking statements, whether as a
result of new information, future events or otherwise.