IMPORTANT INFORMATION ON THE STATUS OF
THE CMGI DIRECTED SHARE PROGRAM FOR ALTAVISTA COMPANY
August 25, 2000
Dear CMGI Directed Share Program Registrant:
Wit SoundView, the administrator of the CMGI Directed Share Program
for AltaVista Company, has formed a strategic alliance with E*TRADE
designed to combine Wit SoundView's expertise in investment banking
and research with the online brokerage expertise of E*TRADE. This
letter describes the effect of this strategic alliance upon the
administration of the CMGI Directed Share Program and in, particular,
for the AltaVista Company ("AltaVista") Initial Public Offering. As
you know, the Initial Public Offering ("IPO") for AltaVista has been
postponed due to market conditions and at this time we do not have any
information as to when or if this offering will occur in the future.
As a result of this strategic alliance with E*TRADE, your account with
Wit Capital will automatically be transferred to E*TRADE unless you
inform Wit Capital to the contrary. If you choose not to have your
account automatically transferred to E*TRADE you will not be able to
participate in the CMGI Directed Share Program for AltaVista. Details
regarding the account transfer, as well as your new E*TRADE account
number, username and password are being sent to you via U.S. mail in
an E*TRADE Welcome Kit over the next few weeks. The transfer of
accounts, as well as the transfer of all securities and cash balances
in Wit Capital accounts, is scheduled to occur on or about September
30, 2000.
The account transfer WILL NOT impact your registration in the CMGI
Directed Share Program for AltaVista. If you already have an E*TRADE
account, a second E*TRADE account will be opened for you. You will
need to maintain a separate E*TRADE account in order to identify you
as part of the CMGI Directed Share Program for AltaVista once the
transition to E*TRADE is completed.
In the event that AltaVista re-initiates its efforts to complete an
IPO you will be notified of any further action required on your behalf
by the Program administrators. Please continue to regularly monitor
your computer for emails from Wit SoundView, the administrator of the
CMGI Directed Share Program. Regular updates to the Program and
additional questions and answers relating specifically to the
AltaVista offering can be found at
affinity.witcapital.com and www.cmgi.com. All email
inquiries should be sent to altavista@witcapital.com.
We look forward to corresponding with you further as details become
available.
Sincerely,
CMGI Directed Share Program Team
No offer to buy Common Stock can be accepted and no part of the
purchase price can be debited from an account or otherwise paid to Wit
Capital until the Registration Statement relating to the Common Stock
has become effective under the Securities Act of 1933. Any such offer
to buy may be withdrawn or revoked, without obligation or commitment
of any kind, at any time prior to the notice of its acceptance given
after the effective date of the Registration Statement. An expression
of interest in response to this letter will involve no obligation or
commitment.
The following statement is required to be included in this letter by
the rules and regulations of the United States Securities and Exchange
Commission:
"A Registration Statement relating to these securities has been filed
with the Securities and Exchange Commission but has not yet become
effective. These securities may not be sold nor may offers to buy be
accepted prior to the time that the Registration Statement becomes
effective. This letter does not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sales of these
securities in any state in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state."
E*TRADE is a registered trademark of E*TRADE Securities, Inc. |
