Hoover's Completes Move to New Headquarters - the Old Butter Krust Bakery Building, An Austin Institution

FOR IMMEDIATE RELEASE

Hoover's To Host Open House For The Media And Invited Guests At The Renovated Facility July 12

AUSTIN, TEXAS - July 11, 2001 - Hoover's, Inc. (Nasdaq: HOOV) today announced that its move to the well-known Butter Krust bakery building at 5800 Airport Boulevard has been completed. The announcement comes a little more than a year after the company initially announced plans for relocation. A leading provider of online business information, tools, and content integration and syndication technology, Hoover's is the publisher of Hoover's Online (www.hoovers.com), the premier online information resource for businesspeople.

"This creative re-purposing of a unique Austin structure is in keeping with our overall corporate culture here at Hoover's," said Jeffrey Tarr, Hoover's president and CEO. "Hoover's provides in-depth business information, including the rich histories behind worldwide companies, industries and the people who lead them. Our new space also carries a rich historical significance, the value of which is not lost on our staff or customers."

The renovated 80,000-square-foot building was once home to the Butter Krust bakery and is located across from Highland Mall. Hoover's is initially leasing 59,400 square feet of the facility, and plans to absorb the remaining space in the building over a period of time. The Austin Butter Krust bakery, originally built in 1960, had closed its doors in 1994, following the acquisition of its parent company.

"When we made the decision to move last year, everyone else was moving into large, expensive new buildings on Mopac and Loop 360," said Patrick Spain, Hoover's executive chairman. "When we looked at the congestion in these areas, considered where our employees wanted to work and found that we could have an attractive, environmentally friendly facility for substantially less than what others were paying, it was an easy choice to make."

"We're really happy to have Hoover's in our neighborhood," said Lisa Schneider of the Skyview Neighborhood Association. "We love the improvements they've made to the existing building, and the landscaping and sidewalk they've put in. We're pleased to have such a neighborhood-friendly and community-minded company move into our area."

To celebrate the grand opening of its new office space, Hoover's will host an Open House for media and invited guests on Thursday, July 12, 2001, from 5:30 p.m. to 7:30 p.m., at its new headquarters located at 5800 Airport Boulevard, Austin, Texas, 78752.

About Hoover's, Inc.

Hoover's, Inc. (Nasdaq: HOOV) provides online business information, tools, and content integration and syndication technology to help businesspeople get their jobs done. Hoover's information is available through its destination sites Hoover's Online (http://www.hoovers.com) and the company's other sites in France, Germany, Italy, Spain and the U.K., through syndication and co-branding agreements with other online services, and through customized applications developed for enterprise information portals, corporate intranets and business-to-business vertical and content sites. Hoover's investors include AOL Time Warner (NYSE: AOL), Media General (AMEX: MEG.A), NBC -- a unit of General Electric (NYSE: GE), and Knowledge Universe, through its Knowledge Net Holdings and Nextera Enterprises (Nasdaq: NXRA) units. Hoover's is headquartered in Austin, Texas, and has offices in London, New York City and San Francisco.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking statements relating to future events or results that involve risks and uncertainties. Among the important factors which could cause actual results of Hoover's to differ materially from those in the forward-looking statements are the company's ability to control its expenses, as well as general economic and market conditions and other factors described in Hoover's reports and documents filed from time to time with the Securities and Exchange Commission, including its prospectus and recent 10-K and 10-Q filings.

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