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internet.com Announces Agreement with Investec Guinness Flight for Internet Stock Index Fund; New Fund is Based on internet.com's ISDEX Internet Stock Index
(WESTPORT, CT - July 15, 1999) - internet.com Corporation (Nasdaq:INTM) announced today that it has entered into an agreement with Investec Guinness Flight Global Asset Management to establish a mutual fund which tracks internet.com's ISDEX®, Internet Stock Index (http://www.isdex.com). The new Guinness Flight internet.com Index Fund is expected to be available to investors by the end of July 1999.ISDEX, Internet Stock Index, is comprised of 50 stocks that represent a broad spectrum of publicly traded Internet companies. Amazon (Nasdaq: AMZN), Broadcom (Nasdaq: BRCM), ebay (Nasdaq: EBAY), and Yahoo! (Nasdaq:YHOO) are among the stocks that comprise the ISDEX. Created in 1996, ISDEX best represents the Internet investment barometer and is one of the first pure Internet indexes. ISDEX is quoted on a regular basis in leading financial media including The Wall Street Journal, Reuters, Dow Jones Newswire, Bloomberg, Bridge, CNBC, SmartMoney magazine and others.
"The creation of the Guinness Flight internet.com Index Fund allows investors to diversify their Internet investing interests," said Alan M. Meckler, Chairman and CEO of internet.com Corporation. "We are excited to work with international fund managers Investec Guinness Flight Global Asset Management in offering this new fund. Along with our recent licensing of the ISDEX Futures and Futures Options Contracts with the Kansas City Board of Trade, this further expands internet.com's revenue opportunities."
"We recognize that the Internet is a volatile sector, but we view this as an exceptional investment opportunity," said James J. Atkinson, Jr., head of the U.S. division of Investec Guinness Flight. "And we believe that an index fund is a direct and convenient way for investors to access the Internet opportunity."
internet Corporation, based in Westport, Connecticut, is a leading provider of global real-time news and information resources for Internet industry and Internet technology professionals, Web developers and experienced Internet users. internet.com operates a network of 62 Web sites, 44 E-mail newsletters, 55 online discussion forums and 52 moderated E-mail discussion lists with 1.8 million unique visitors that generate over 47 million page views monthly. internet.com's global presence includes editions in Canada, the United Kingdom, Arabia, Australia, Asia, France and Israel.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding internet.com Corporation's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Prospectus dated June 25, 1999, Annual Report or Form 10-K for the most recently ended fiscal year.
For more information contact:
Hillary Dietz
(203) 341-2989
[email protected]
Nicole Catalano
(203) 341-2870
[email protected]
All current internet.com Corp. press releases can be found on the World Wide Web at http://www.internet.com/corporate/press.html.