Hikari Tsushin, Inc. Leads the idealab! Venture's Financing Round

Boston, Mass. (November 29, 1999) - Intranets.com (www.intranets.com), provider of the world's first free intranet portals, today announced that the company has raised an additional $20 million of venture capital. Hikari Tsushin, Inc., Japan's largest distributor of wireless communication devices and Internet services, led the financing round for the idealab! venture. Also contributing to the round were: idealab!; MDT Advisers; Lazard Technology Partners; Friedman, Billings, Ramsey and Company; Hambrecht & Quist; Graystone Ventures; and Tritech Partners.

Intranets.com will use the additional funding to finance a large-scale integrated marketing campaign to establish its brand identity and fuel additional site registrations. The company will also be adding additional development resources to assist in continuing to enhance product functionality. Since the launch of Intranets.com less than three months ago, more that 55,000 small businesses and organizations have registered for the free intranet portal service, with that number growing by the thousands every day.

"As an infrastructure provider and a unique dot-com business, Intranets.com is an extremely attractive investment to us," said Masahide Saito, board member and director of corporate strategy and investment headquarters of Hikari Tsushin, which has strategic investments in companies such as phone.com and Tumbleweed Software. "We also expect that Intranets.com will flourish in the Japanese and Asian markets as it has in the United States." Headquartered in Tokyo, Hikari Tsushin operates 42 offices in Japan and 3 subsidiaries worldwide. Using its vast sales network, Hikari Tsushin launched a number of new initiatives, including a web hosting service for the business community, an Internet community site for a consumer market, CS digital broadcast television business, and web-TV business, in fiscal 1998.

"The significance of this round of financing is much greater than just the dollar amount," said Steve Crummey, co-founder and CEO of Intranets.com. "We are thrilled with Hikari Tsushin's interest in Intranets.com. As a very respected and influential company, we expect our relationship with Hikari to open a number of doors for us in the Asian market including Japan."

About Intranets.com
Intranets.com is the world's leading provider of on-demand collaboration services for small businesses or departments and groups inside large organizations. The company serves more than 350,000 users across 10,000 companies worldwide and offers a secure, web-based collaboration suite to share critical business information quickly and easily at any time from anywhere. Privately held and profitable, Intranets.com is led by an experienced team of software industry professionals who are committed to providing a secure, customizable, easy-to-deploy intranet solution supported by world-class customer service. Intranets.com is a PC Magazine "Editor's Choice" winner and is rated one of the world's "Top 25" leading service providers by ASPNews. The company has also been ranked by the Boston Business Journal as one of the fastest growing private companies in Massachusetts for two consecutive years. For more information or to take a FREE 30-day test drive, visit http://www.intranets.com/pr, e-mail corpsales@intranets.com or call 888-932-2600 or 781-565-6000.

About idealab!
idealab! (www.idealab.com ) identifies, creates and operates Internet businesses. Founded in March 1996 by Bill Gross, idealab! currently has approximately 50 businesses in various stages of development. idealab! generates ideas for new Internet businesses and creates, capitalizes and operates a separate company to conduct each new business. Actively participating in the on-going operations of its network companies through board representation, information sharing and facilitating collaboration among the companies, idealab! also recruits management to oversee the day-to-day operations allowing senior management to concentrate on executing the business plan. Additionally, idealab! provides each operating company with a full range of operational support services including office space and the accompanying network infrastructure, technology, graphic design, marketing, competitive research, legal, accounting and business development services. idealab! public companies include eToys (Nasdaq: ETYS), GoTo.com (Nasdaq: GOTO), CitySearch (TMCS), NetZero (Nasdaq: NZRO) and Tickets.com (Nasdaq: TIXX).

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