Date: Fri 09-Jul-1999

Publication: Ant

Author: MARYG

Quick Words:

Artnet.com-stock-Internet

Full Text:

Artnet.com Goes Public $49 Million On Internet Fine Art Site

HAMBURG, GERMANY -- Artnet.com, AG (Neuer Markt: AYD), an Internet fine art

site for dealers, collectors, and artists went public on Germany's Neuer Markt

on May 17 with an initial public offering of its Common Stock.

The stock was offered at $49 per share. The offering of one million shares

raised $49 million, giving Artnet.com a market capitalization of $275 million.

Artnet.com is based in New York City's Silicon Alley.

"The money raised through the IPO will further fuel Artnet.com's growth," said

Hans Neuendorf, chairman and CEO. "The IPO will enable Artnet.com to

capitalize on our market lead by expanding our auctions, investing further in

marketing and additional staff and strengthening the company infrastructure."

Artnet.com publishes a daily online art magazine, a web-based fine art

auctions database with two million illustrated auction price records, over 700

gallery sites, 100 artist sites, an art search engine spanning 10,000 art

related web sites, and links to international museums and art fairs.

Artnet.com also features an e-commerce bookstore comprising 12,000 art titles.