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107% short

Overstock Short InterestNow 107% of Float on Deposit at DTCC
SALT LAKE CITY, March24, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Overstock.com(R) (Nasdaq: OSTK) today reportsthatper the DTCC's March10 Security PositionListing, thereare 8,970,394 Overstock.comshares on depositat the DTCC and thatthe NASDAQ reportedshort interestin Overstock.comof 9,578,481 shares for the sameweek. Thus,Overstock.com'sreportedshort interestis now 107% of the shares available to be shorted.
OverstockCEO Patrick Byrne said, "The decimal is notmisplaced-- we have cracked the speedof light. It is my understandingthatsomeshareholders(e.g., pensionfunds) mighthave askedthattheir shares notbe made available to shorts,thusreducingthe 8.97 million shares the DTCC has available for lending.I also understandthatthe 9.58 million statedshort interestdoesnotincludefailed-to-deliver short sales,failed-to-deliverlongsales,another categorythatthe DTCC now crypticallycalls, 'open positions,'or lendingoutside the DTCC (i.e., 'ex-clearing'), whichonly two guyson StatenIsland understand.Thusthe real ratio is anyone'sguess,butit's somewherebetween107% and infinity. On a positivenote,the DTCC continuesto maintain thattheir Stock Borrow Program doesnotpermitthe creationof new or counterfeitshares: I think that'sgood,becauseotherwisethissituationcouldbe gettingoutof control."

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