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To: GST who wrote (55769)	5/6/1999 5:08:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

May 6, 1999 barnesandnoble.com FILES AMENDED REGISTRATION STATEMENT WITH THE SECURITIES AND EXCHANGE COMMISSION FOR INITIAL PUBLIC OFFERING Sales Up 259% in March Quarter New York, NY -May 6, 1999 -- Barnes & Noble, Inc. (NYSE: BKS), the nation's largest bookseller, and Bertelsmann AG, today announced the filing of an amended registration statement with the Securities and Exchange Commission (SEC) for an initial public offering (IPO) of Class A Common stock in barnesandnoble.com (http://www.bn.com). The online company will offer approximately 18 percent, or 25 million, of its shares to the public by a syndicate of investment banks led by Goldman Sachs and Merrill Lynch. The shares will be offered at an estimated $12 per share for a total offering of $300 million. When publicly traded, the stock will be listed on the NASDAQ national market under the symbol "BNBN." The amended statement includes first quarter 1999 results (ended March 31) for barnesandnoble.com. Sales for the quarter were $32.3 million, an increase of 259% from the comparable 1998 quarter, and a 25% increase from the fourth quarter 1998. barnesandnoble.com's 1999 first quarter loss was $20.2 million. More than 450,000 new customers shopped for the first time at barnesandnoble.com during the quarter, bringing the total customer count to more than 1.7 million. The affiliate network now exceeds 120,000. Additionally, Media Metrix, Inc., the leader in Internet audience measurement, has revised its WWW Audience Ratings for March 1999 updating barnesandnoble.com's reach to 4.810 million unique visitors or 7.8% of all Web users. This corrected rating, which will be reflected in their April 1999 report, makes barnesandnoble.com the fourth largest shopping site and a top 30 Web site. As previously announced, the proceeds of the IPO will be used for expansion, including new systems and distribution initiatives, as well as acquisitions. Leonard Riggio, chairman and CEO of Barnes & Noble, Inc., will serve as chairman of barnesandnoble.com. Jonathan Bulkeley will be chief executive officer and will report to Mr. Riggio. Marie Toulantis, former chief financial officer of Barnes & Noble, Inc., today was appointed chief financial officer of barnesandnoble.com. They are joined by a seasoned management team experienced in direct marketing, fulfillment and bookselling. Although the amended registration statement has been filed, it has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state. ------------------------------------------------------ This service provided by Shareholder Direct. Additional Information: shareholder.com Distribution List Changes/Deletions: shareholder.com