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To: Glenn D. Rudolph who wrote (15159)	8/29/1998 8:17:00 PM
From: Glenn D. Rudolph	Respond to of 164684

Record $1.14 Billion Invested in Network Start-Ups Business Wire - August 28, 1998 15:00 %NETWORK-WORLD %MASSACHUSETTS %COMED %COMPUTERS %ELECTRONICS %INTERACTIVE %MULTIMEDIA %INTERNET V%BW P%BW NOTE TO MEDIA: Spreadsheet is available in a Smart News Release(TM) available on Business Wire's Home Page at www.businesswire.com FRAMINGHAM, Mass.--(BUSINESS WIRE)--Aug. 28, 1998--More than 200 network firms garnered a record total of $1.14 billion in venture capital in the second quarter of 1998, according to a survey published on Network World Fusion, the official web site for Network World (http://www.nwfusion.com). Data for the quarterly Venture Capital Survey was compiled and analyzed in a collaborative effort between PricewaterhouseCoopers and Network World, the nation's leading weekly newspaper for enterprise computing. Silicon Valley and New England still attract the overwhelming majority of start ups and E-commerce firms targeting business markets, but the survey shows that new growth areas can be found in Colorado, Texas and Southern California. The firms are part of a rapidly growing trend of companies developing software and services to build the infrastructure for a true electronic economy, one where more and more commerce is done over the Internet. Currently, most electronic commerce occurs business to business. "Two of the five largest network venture deals in the second quarter involved Internet Service Providers that cater to business customers," says Chris Nerney, Network World senior editor and author of the Network World Fusion article. "We are seeing some real growth in emerging markets like Denver, San Diego and Austin." The $1.14 billion in venture capital funds tops the previous record of $1.03 billion set in the fourth quarter of 1997, says Nerney. And with $2.07 billion invested in 377 network companies so far this year, the 1997 record of $3.64 billion in venture capital invested in 711 firms seems in jeopardy, adds Nerney. Start-ups developing wireless communications products and services continue to represent the most sought after investments for venture capitalists, the report indicates, with the Internet leading the way. Fully 60 percent of the 209 network companies that received venture capital in the second quarter are Internet-related, says Nerney. Nerney's complete article can be found at nwfusion.com. Network World (http://www.nwfusion.com) is the nation's only newsweekly shaping the future of network computing in the enterprise. Network World, Inc., is a division of IDG (http://www.idg.com), the world's leading IT media, research and exposition company. IDG publishes more than 290 computer magazines and newspapers and 700 book titles and offers online users the largest network of technology-specific sites around the world through IDG.net (http://www.idg.net). CONTACT: Network World Jim Grisanzio, 508/820-7528 Jim_Grisanzio@nww.com nwfusion.com