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Internet Capital Group Announces the Initial Public Offering of Its Partner Company Onvia.com


WAYNE, Pa.--(BUSINESS WIRE)--March 1, 2000-- Internet Capital Group to Purchase Approximately $56M of Onvia.com`s Common Stock in a Private Placement Internet Capital Group (Nasdaq:ICGE), the leadingbusiness-to-business (B2B) e-commerce company, today announced the initial public offering of its partner company Onvia.com, which has been listed on the Nasdaq Stock Market`s National Market under the symbol "ONVI." A total of eight million shares of Onvia.com were offered at $21 per share. Internet Capital Group also announced that it has entered into an agreement to purchase 2,666,666 shares of common stock at the initial public offering price of $21 per share in a private placement concurrent with the offering. The agreement is subject to the expiration of the Hart Scott Rodino waiting period. Based in Seattle, Onvia.com is a leading business-to-business market maker for small business buyers and sellers. Onvia.com is the most recent Internet Capital Group partner company to go public. "This share purchase of Onvia.com`s common stock is symbolic of Internet Capital Group`s long-term commitment to the success of our partner companies. We will continue to hold a significant interest in the company and expect to remain actively involved in the management and operations of Onvia.com," said Ken Fox, co-founder and managing director of Internet Capital Group. Since its inception in 1996, Internet Capital Group has acquired and built two types of companies: market makers, which bring buyers and sellers together by creating Internet-based markets for the exchange of goods, services and information in a particular industrial sector; and enabling service providers, which sell software and services to businesses engaged in e-commerce.

Quelle: www.internetcapital.com

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Internet Capital Group (ticker: ICGE, exchange: Nasdaq)
News Release - Tuesday, March 14, 2000

Internet Capital Group, Breakaway Solutions
and VerticalNet Announce Formation of B2B
Incubator Network eColony

WAYNE, Pa.--(BUSINESS WIRE)--March 14, 2000--

New Company Expects to Launch and Nurture Over 100
Startups in

Next 18 Months, Leveraging B2B Market Demand,
Geographic

Strengths and Internet Capital Group Network

Internet Capital Group (Nasdaq:ICGE), a leading
business-to-business (B2B) e-commerce company,
today announced the formation of eColony, a new
incubator network that will provide B2B Internet startups
with financing, infrastructure, technology and corporate
counsel.

eColony, based in New York, N.Y., is creating an
international network of "Development Sites" to identify,
launch and grow companies. Each of these
25,000-to-30,000 square-foot locations will seek
partnerships with B2B startups in their geographic region,
and provide these partner companies with financial
capital, physical infrastructure, management assistance
and business relationships.

By working with eColony within these Development Sites,
partner companies will be able to grow rapidly by
focusing on the unique aspects of their business without
getting bogged down in the mechanics of starting or
growing a company.

The formation of eColony is made possible through the
capital, strategic guidance and operational support of
Internet Capital Group, with other major backers and
strategic partners including VerticalNet (Nasdaq:VERT),
Breakaway Solutions (Nasdaq:BWAY), Comcast and
Capital Investment Co. Additional backers and strategic
partners will be announced in the near future.

Walter Buckley, president and CEO of Internet Capital
Group, will serve as eColony`s chairman. Bader
Al-Rezaihan, president and CEO of Capital Investment
Co., will serve as vice chairman. Craig Danuloff, founder
and former CEO of iCat Corp., will serve as president.

"eColony adds a vital component to our strategy, allowing
us to work with young companies that were previously
too small for an Internet Capital Group partnership," said
Buckley. "We look forward to working with eColony to
leverage our business expertise and relationships in
support of their partner companies -- many of whom we
expect to develop into important members of the Internet
Capital Group network."

eColony Development Sites

Each eColony Development Site will be optimized to
incubate B2B startups, helping them rapidly build
management teams, refine and improve business plans
and core technology, and seek customers and business
partners. eColony partner companies will benefit from
three tiers of support and assistance: the local
Development Site, the eColony Growth Team(TM) and the
Internet Capital Group network.

Once ready for their business ideas to operate on the
Web, eColony companies will benefit from being able to
work with ICG partner companies such as Breakaway
Solutions, whose unique Full Service Provider (FSP)
offering of integrated e-strategy, implementation and
application hosting solutions will enable eColony
businesses to rapidly deploy their business vision onto
the Internet.

"eColony is creating an environment, both physical and
intellectual, that develops ideas into businesses," said
Buckley. "By combining Internet Capital Group`s
resources and experience with eColony`s own network of
expertise, we can give our startups an unparalleled
advantage."

Each Development Site will provide eColony partner
companies with basic infrastructure and technology, local
financial and business advisors, and an in-house
community of entrepreneurs and startup team members.

The eColony Growth Team(TM) is a sophisticated group
of specialists in business development, human resources
and recruiting, sales and marketing, and finance, whose
mandate is to help partner companies develop rapidly.
Partner companies will also have access to Internet
Capital Group`s strategic and operational experience,
relationships, and network of B2B e-commerce
companies.

"The opportunity for early stage B2B enterprises to take
advantage of the network of resources established by
eColony will have tremendous impact on their
`first-to-market` ability, which is at the heart of our mission
at Breakaway Solutions," said Gordon Brooks, president
and CEO of Breakaway Solutions.

"We are pleased to be a part of Internet Capital Group`s
initiative and vision in assisting this critical and growing
sector of the B2B industry."

About Internet Capital Group

Internet Capital Group (http://www.internetcapital.com) is
an Internet company actively engaged in
business-to-business e-commerce through a network of
partner companies.

It provides operational assistance, capital support,
industry expertise, and a strategic network of business
relationships intended to maximize the long-term market
potential of more than 55 business-to-business
e-commerce partner companies. Headquartered in
Wayne, Internet Capital Group has offices in San
Francisco, Boston, Seattle and London.


CONTACT: Internet Capital Group
Sherri Wolf, 617/338-7171 (IR)
[e-mail]
or
Fleishman-Hillard
Ellen Barry, 617/267-9700 (Media)
[e-mail]
Mary Stubbs, 415/356-1006 (Media)
[e-mail]