Tranche Update on LookSmart Group, Inc.'s Equity Buyback Plan announced on May 31, 2012.

LookSmart Group, Inc. operates in a programmatic online advertising ecosystem serving ads that target user queries on partner sites. The Company handles programmatic media buying on both Tier1 (Facebook, Google, Bing and Yahoo) and Tier2 channels (any other site beyond Google, Bing, Facebook and Yahoo). The Company offers search advertising customers targeted search via a monitored search advertising distribution network using its AdCenter platform technology. Its search advertising network includes publishers and search advertising customers, including intermediaries and direct advertising customers and their agencies, as well as self-service customers in the United States and certain other countries. In addition, Looksmart, under its Clickable and Syncapse brands, allows customers to manage paid, owned and earned media by providing a suite of solutions for social media marketers that include publishing, monitoring, data storage, compliance, management, ad placement and analytics.