X0202 4 2006-02-17 0 0001030896 BLUEFLY INC BFLY 0000922382 QUANTUM INDUSTRIAL PARTNERS LDC ET AL KAYA FLAMBOYAN 9 WILLEMSTAD, CURACAO NETHERLANDS ANTILLES 0 0 1 0 0001237658 QIH MANAGEMENT LLC 0 0 1 0 0001029160 SOROS FUND MANAGEMENT LLC 888 SEVENTH AVENUE 33RD FLOOR NEW YORK NY 10106 0 0 1 0 0001237660 QIH MANAGEMENT INVESTOR LP 0 0 1 0 Option to Purchase Common Stock (right to buy) 1.14 2006-02-17 4 J 0 20000 A 2007-02-17 2016-02-17 Common Stock 20000 20000 I See footnote Represents director options to purchase 10,000 shares of common stock issued to Neal Moszkowski and director options to purchase 10,000 shares of common stock issued to David Wassong. Mr. Moszkowski serves as an advisor to QIP and Mr. Wassong is an employee of SFM (as defined below). These options are held for the benefit of Quantum Industrial Partners LDC, an exempted limited duration company formed under the laws of the Cayman Islands ("QIP"). QIH Management Investor, L.P., an investment advisory firm organized as a Delaware limited partnership ("QIHMI"), is a minority shareholder of, and is vested with investment discretion with respect to portfolio assets held for the account of, QIP. The sole general partner of QIHMI is QIH Management LLC, a Delaware limited liability company ("QIH Management"). Soros Fund Management LLC, a Delaware limited liability company ("SFM"), is the sole managing member of QIH Management. Reference is made to the joint filing information statement attached hereto as Exhibit 99.1. /s/ Jay Schoenfarber, as Attorney-in-Fact for Quantum Industrial Partners LDC 2006-02-22