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Kramer Steps Down

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October 1 – 15, 2003 Edition

Kramer Steps Down

as Audible President

NEW YORK,NY/9/22/03—Robert Kramer has stepped down as president of Audible Inc., and the company does not expect to replace him. Audible chairman Don Kaplan continues to oversee the company’s day-to-day operations, and some of Kramer’s responsibilities will be distributed among several staff members.

Kramer, who joined the company in 2000 and became its president in July 2001, leaves only a month after a positive financial report and the announcement that investors have infused the company with $6 million in fresh financing.