James Espinas, USWeb/CKS, 408-986-6747 or
[email protected]
E*OFFERING, USWeb/CKS Collaborate To Deliver Next-Generation Online Investment Banking Web Site
USWeb/CKS to Provide Creative, Technical Expertise In Developing Innovative Online Investment Banking Source
SANTA CLARA, Calif. - April 21, 1999 - USWeb/CKS (NASDAQ: USWB), a leading Internet and marketing professional service, today announced it is working with E*OFFERING, a full-service online investment bank, to create a dynamic interactive web site for E*OFFERING customers. The full E*OFFERING web site is scheduled to be launched in June 1999.
E*OFFERING announced last week that it has established a presence on the Internet with a preview site designed to provide visitors with an overview of the company and its services. The preview site's URL, http://www.eoffering.com/, will also be used as E*OFFERING's URL for its commercial site when it goes live this summer.
USWeb/CKS is working with E*OFFERING to construct an online service that facilitates the investment banking process. Investors will be able to conduct market and industry research, and receive alerts on initial public offerings. USWeb/CKS is developing systems and site features including the technical foundation, user interface and database logic to establish a premium service for E*OFFERING users. USWeb/CKS is also seamlessly integrating E*OFFERING's site with E*TRADE Group, Inc. (NASDAQ: EGRP), a leading provider of online investing services and an investor in E*OFFERING.
"E*OFFERING selected USWeb/CKS because of its ability to converge technical, creative and consulting capabilities necessary in building a compelling and engaging commercial web site," said Walter Cruttenden, CEO and founder of E*OFFERING. "Our vision is to provide a totally net-centric solution to the equity underwriting process. We believe that USWeb/CKS offers the creative and technical expertise to help us achieve our goals by leveraging the Internet to impact the future of online investment banking.
Headquartered in San Francisco and Newport Beach, Calif., E*OFFERING expects to provide a new class of online investment banking services. The company was founded by Walter Cruttenden, a leader in the investment banking industry, Frank Cutler of the Cutler Group, an early stage venture capitalist, and Sanford Robertson, former chairman of Robertson Stephens and key investor. E*OFFERING expects to provide individual online investors with greater access to subscribed public offerings. The company intends to distribute up to 50 percent of the shares it is allocated in IPOs to online individual investors, through E*TRADE, which holds a 28 percent stake in E*OFFERING.
"It's an exciting opportunity," said Toby Corey, USWeb/CKS president and COO. "The financial services industry is undergoing remarkable change because of the Internet's ability to serve as a channel for providing new products and services that empower individual investors. We look forward to working with E*OFFERING in helping to implement its vision."
About USWeb/CKS
USWeb/CKS (Nasdaq: USWB) is a professional services firm that works with companies to define strategies and implement innovative ways to build their businesses by combining the expertise of strategy, Internet technology and marketing communications. USWeb/CKS helps clients differentiate their products and services, strengthen customer relationships, leverage human capital, and improve business efficiency in the new electronic economy. With more than 2,300 professionals, USWeb/CKS has helped hundreds of businesses advance their marketing communications programs as well as traditional IT and Internet systems -- everything from brand development and advertising to business process automation and e-commerce solutions. The Company is headquartered in Santa Clara, California. Additional information about USWeb/CKS is available by calling 408-987-3200.