Hoover's Q1 2004 IPO Scorecard Reveals 600% Surge In Number Of U.S. IPOs

FOR IMMEDIATE RELEASE

AUSTIN, TEXAS - April 1, 2004 - Hoover's, Inc., a leading provider of business insight and publisher of Hoover's Online (www.hoovers.com), today announced a 600 percent surge in the number of IPOs for Q1 2004 compared to the IPO activity for Q1 2003. According to Hoover's IPO Scorecard (www.hoovers.com/ipo/scorecard), 36 U.S. companies went public in Q1 2004, raising $7.8 billion. This compares to only six IPOs in Q1 2003, which raised under $995 million.

The 2003 IPO market did not show much momentum until the fourth quarter, when 50 companies went public, surpassing the number of IPOs for the previous three quarters of 2003 combined. The surge in activity carried over into Q1 2004, as the growing economy encouraged companies to raise money for expansion. The majority of Q1 2004 IPOs priced in at the high end of estimates and closed up on their first day of trading.

"Positive expectations are fueling this IPO market. Traditionally Q1 is the quietest IPO quarter, but with 36 new offerings, this activity marks the most first-quarter action since the peak in 2000," said Justin Burrows, Hoover's money editor. "Additionally in Q1, 78 companies filed to go public, adding significantly to the pipeline of upcoming IPOs. Barring a market decline, these backlogged IPOs should bear fruit in a strong Q2 and Q3."

Statistics from Hoover's IPO Scorecard for the first quarter 2004:

• The first week of February 2004 was the busiest week for the IPO market in more than three years; by mid-February, there were twice as many IPOs than the first six months of 2003.
• The average Q1 2004 IPO commanded a higher price despite slightly weaker financial performance versus the IPOs of Q4 2003. In fact, the IPOs in Q1 2004 raised 20 percent more money compared to the IPOs of Q4 2003.

Top Ten Best-Returning IPOs for Q1 2004:

	Offer	Q1 Close	Return
Crosstex Energy, Inc.	$19.50	$41.95	115%
Eyetech Pharmaceuticals, Inc.	$21.00	$ 33.20	58%
Bakers Footwear Group, Inc.	$7.75	$ 11.60	50%
Kinetic Concepts, Inc.	$30.00	$44.85	50%
Marchex, Inc.	$6.50	$ 8.88	37%
Government Properties Trust, Inc.	$10.00	$13.17	32%
Asset Acceptance Capital Corp.	$15.00	$18.60	24%
Atheros Communications, Inc.	$14.00	$17.27	23%
Capital Lease Funding, Inc.	$10.50	$12.82	22%
TODCO	$12.00	$14.60	22%

Hoover's provides continuously updated information on thousands of private and public companies worldwide and analyzes the IPO market daily to produce the quarterly IPO Scorecard, a regular wrap-up of IPO activity, released on the IPO Central section of Hoover's Online. Each IPO Scorecard includes an assortment of facts selected by Hoover's editors for those following the IPO market.

About Hoover's, Inc. - The Business Information Authority(sm)

Hoover's, Inc., a subsidiary of D&B, is a leading provider of business information. Hoover's provides authoritative, updated information for sales, marketing, business development, and other professionals who need intelligence on U.S. and global companies, industries, and the people who shape them. This information, along with powerful tools to search, sort, download and integrate the content, is available through Hoover's Online (www.hoovers.com), the company's premier online service. Hoover's business information is also available through corporate intranets and distribution agreements with licensees, as well as via print from Hoover's Business Press. Hoover's is headquartered in Austin, Texas.

Contacts