iDine Rewards Network Inc. Declares Preferred Stock Dividend

Business Wire,  Dec 16, 2002  

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Business Editors

MIAMI--(BUSINESS WIRE)--Dec. 16, 2002

iDine Rewards Network Inc. (AMEX: IRN) announced today that its Board of Directors has declared a dividend of $0.0725 on each share of Series A Preferred Stock outstanding on December 27, 2002.

Holders of record at that date will receive $0.03625 per share, payable in cash on January 3, 2003, and a similar amount will accrue and be payable upon conversion or redemption of the preferred shares. The conversion, on a post dividend basis, will be 1 preferred share for 1.18932 common shares.

iDine Rewards Network Inc. offers its members a variety of dining savings and rewards programs at more than 9,100 restaurants throughout the United States via means of a registered credit card. The Company presently has 15.2 million credit cards registered through 11.5 million enrolled accounts. The savings are offered through the Company's dining programs, either branded under the name iDine or provided through co-branded and private label partnerships, such as airline frequent flyer programs, club memberships or other affinity organizations. iDine members can also access personalized, real-time restaurant listings, special dining incentives and more information via the recently enhanced web site, www.idine.com. iDine Reward Network's common stock trades on the American Stock Exchange (AMEX) and alongside its Series A Preferred Stock on the Philadelphia Stock Exchange (PHLX).

Statements in this release that are not strictly historical are "forward-looking" statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, which may cause the company's actual results in the future to differ materially from expected results. These risks are qualified in their entirety by cautionary language and risk factors set forth in the company's filings with the Securities and Exchange Commission.

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