SmartyPig Partners With Overstock.com to Reward Savers With Biggest Cash Boost to Date

DES MOINES, Iowa, Sept 29, 2008 /PRNewswire via COMTEX/ -- OSTK | Quote | Chart | News | PowerRating -- SmartyPig (http://www.smartypig.com), the online piggy bank that helps individuals, families and organizations save for specific goals, today announced it now offers Overstock.com (http://www.overstock.com) gift cards as a redemption option. Overstock.com, Inc., an online retailer offering brand-name merchandise at discount prices, now rewards SmartyPig savers with an unprecedented cash boost of 6%. Until today, SmartyPig's highest retail boost had been 5% of the amount saved plus interest.

SmartyPig is a new service that leverages the age-old idea of saving up for purchases, while adding Web 2.0 and social networking technology to help customers reverse the "buy now, pay later" credit-card mindset. SmartyPig offers the only true banking application that is social, appealing to the next generation of banking customers while making it easier and more fun than ever to save up for specific goals. SmartyPig also lets users embed customized widgets on popular sites like Facebook, MySpace, or on their own blogs and Web sites, to share goals with friends and family. Once their savings goal is reached, customers have an option to receive cash boosts of up to 6% from best-in-class retail partners like Amazon, Royal Caribbean, Pottery Barn, Best Buy and Home Depot -- and now Overstock.com.

"Overstock.com and SmartyPig are a perfect fit. They deliver quality, name-brand products at deep discounts, while we work hard to help our users earn more value for each dollar saved," said Jon Gaskell, co-founder and CMO of SmartyPig. "Together, it will be next to impossible for the discerning shopper to find a better deal online, which is key when budgets are tight. We're excited to continue to maximize our customers' savings as our audience grows."

SmartyPig offers a highly competitive 3.90% (APY)* interest rate on its FDIC-insured savings goals. Money saved can be redeemed in one of three ways. Once consumers reach their goals they can:

-- Receive savings plus interest on the flexible SmartyPig MasterCard(R) Debit Card (which can be used anywhere MasterCard(R) is accepted, including ATMs -- for withdrawals only)

-- Have savings plus interest returned to the bank account they use to fund their SmartyPig goals via Electronic Funds Transfer (ACH)

-- Stretch savings dollars even further, receiving savings plus interest on a gift card from some of the country's top retailers

SmartyPig was created after co-founder Michael Ferrari, who had just set up a 529 college savings account for his new son, searched for a similar way to automatically save for a vacation that offered him the benefits he felt were most important: a social networking aspect, true incentives from retailers he frequents and ease of use. When he couldn't find anything, he set out to create SmartyPig. The company has seen rapid adoption in the U.S. since its April 2008 launch.

About SmartyPig

SmartyPig is a simple, smart and secure way to save for a specific goal. Using groundbreaking technology and the latest in security standards, SmartyPig helps users reach their savings goals faster by allowing them to invite family and friends to contribute to their accounts, gives additional incentive boosts from top retailers who sell exactly what users are saving for and offers a competitive interest rate. SmartyPig.com is a privately-owned company which launched in April 2008. For more information visit http://www.SmartyPig.com. The SmartyPig site is protected by copyright and trademark laws under U.S. and international law. U.S. and international patent pending. All rights reserved. U.S. Certificate of Registration #TXU001582439.

* Annual Percentage Yield (APY) is accurate as of October 6, 2008. Rates may change at any time without prior notice. All U.S. funds are held in West Bank, member FDIC.

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(R) is a registered trademark of Overstock.com, Inc. All other trademarks are the property of their respective owners

SOURCE SmartyPig

http://www.SmartyPig.com

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