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To: Robert Rose who wrote (27380)	11/20/1998 1:20:00 PM
From: H James Morris	Read Replies (1) \| Respond to of 164684

Sunnyvale, California, Nov. 19 (Bloomberg) -- Computer Literacy Inc., an online seller of technical computer manuals, raised $30 million in an initial stock sale, reflecting investors' renewed enthusiasm for Internet offerings. The Sunnyvale, California-based company sold 3 million shares at $10 each. That was $1 above the top of the $7 to $9 expected range set by lead underwriter Nationsbanc Montgomery Securities LLC. Computer Literacy revived plans for the sale two days ago, having canceled them less than four weeks ago because interest in new stocks was weak. Since then, Internet stocks have surged, and two companies -- EarthWeb Inc. and Theglobe.com Inc. -- made spectacular market debuts, rising 248 percent and 606 percent respectively in their first day of trading. ''There is certainly pent-up demand'' for Internet IPOs, said David Menlow, president of IPO Financial Network. That demand ''is not going to be satiated by the offerings that appear to be on the horizon'' given their relatively small size, and this scarcity should prove helpful to Computer Literacy and other Internet issues in the short term. Still, ''when all this Internet buying stops, there may be only sellers around,'' he said. Two upcoming Internet offerings likely to attract investors' attention are UBid Inc., an online auction firm, and Ticketmaster Online-CitySearch Inc., an online provider of tickets to live events and local city guides. Both offerings are currently scheduled for the week starting Monday, Nov. 30, with UBid to be brought public by Merrill Lynch & Co. and Ticketmaster Online- CitySearch to be brought public by Nationsbanc Montgomery. USA Networks Inc., led by Chairman Barry Diller, will control about 67.4 percent of Ticketmaster Online-CitySearch following its initial stock sale. Computer Literacy is an online provider of more than 300,000 technical books, product manuals, and research reports from more than 8,000 publishers. Computer Literacy had revenue of $4.8 million for the three months ended July 31, up from $2.6 million in the same period a year ago. The company's loss grew to $2 million from $625,000 in the same periods. More than half of revenue for the three months ended July 31 came from online sales, with most of the rest generated by the company's four retail stores. The company's number of online customers grew to more than 44,000 as of July 31 from about 1,600 as of Jan. 31, 1997, the company said in its filing with the Securities and Exchange Commission. The company intends to use about $6.1 million of the proceeds from the offering for capital expenditures, and the rest of the proceeds for working capital and general corporate purposes, including expanding its direct sales and marketing operations and systems. Computer Literacy will trade on the Nasdaq Stock Market under the symbol ''CMPL.'' Piper Jaffray Inc. and Needham & Co. are assisting Nationsbanc Montgomery in the sale.