Hoover's IPO Analysis For 2001 Shows Resurgence Of "Not-Coms"

FOR IMMEDIATE RELEASE

Hoover's IPO Scorecard Now Available On Hoover's IPO Central

AUSTIN, TEXAS - January 3, 2002 - What's in a name? For the IPO companies of 2001, it's more apparent what is not in a name - "dot-com." While far from a total recovery, the 2001 IPO market surmounted the dot-com shakeout of 2000. There were no IPOs with a dot-com in their names in 2001, compared to 12 in 2000, and 22 in 1999, according to year-end analysis in the latest IPO Scorecard) from Hoover's, Inc. (Nasdaq: HOOV), publisher of Hoover's Online (www.hoovers.com).

Hoover's 2001 IPO Scorecard also shows there were 87 IPOs for the year, which raised $39 billion. On average, IPOs in 2001 ended the year 15% above their offering price. Hoover's Online editors - in addition to providing continuously updated information on thousands of private and public companies worldwide - produce the IPO Scorecard, a regular, quarterly wrap-up of IPO activity. The Scorecard is released on the IPO Central area of Hoover's Online.

2001 Year-End Analysis Twenty-one IPOs kicked off Q1 2001, an 85% decline from the 136 IPOs of Q1 2000. The second quarter of 2001 saw slight upward momentum with 26 IPOs, including the $8.7 billion June offering of Kraft Foods Inc. (NYSE: KFT), the second-largest IPO ever, after the April 2000 IPO of AT&T Wireless Services (NYSE: AWE).

The IPO market came to a virtual halt in Q3 2001, which brought only 12 IPOs. The fourth quarter of 2001, however, saw some resurgence. Highlights of 2001, as reported throughout the year by Hoover's Online, include:

Q1 2001: Price cuts and discounts -- a steady lowering of the offering price due to weak demand was the order of the quarter for many IPOs. From offer price to the close of Q1 2001, the best-returning IPO was Williams Energy Partners L.P. (NYSE: WEG), at 40%, compared to the best-returning IPO for the year-ago quarter, webMethods, Inc. (Nasdaq: WEBM), at 590%.

Q2 2001: The IPO market began to show some signs of life, with oil and energy-related offerings becoming popular and the majority of IPOs managing positive returns. The best-returning IPO was Select Medical Corporation (Nasdaq: SLMC), at 111%.

Q3 2001: Mid-August saw the last IPO for the quarter. The terrorist attacks of Sept. 11 put a stop to all IPO activity, which was already sluggish. The best-returning IPO for the quarter was Wright Medical Group, Inc. (Nasdaq: WMGI), at 36%.

Q4 2001: Health care offerings dominated the docket. Given Imaging Ltd. (Nasdaq: GIVN) went public on October 4, becoming the first IPO since mid-August and ending the longest IPO dry spell since the 1970s. Prudential (NYSE: PRU) became the third-largest IPO for 2001, with its $3 billion offering in December.

Additional findings from Hoover's IPO Scorecard for the fourth quarter of 2001:

• While December is typically the slowest IPO month, December 2001 had the busiest IPO week of the year, ushering in NetScreen Technologies, which became the third-best first-day gainer of 2001.
• Best First-Day Gain: NetScreen Technologies, Inc. (Nasdaq: NSCN) 48%
• Worst First-Day Drop: dj Orthopedics, Inc. (NYSE: DJO) -10%
• The top 10 best-returning IPOs for Q4:

	Offer	Q4 Close	Return
Magma Design Automation, Inc. (Nasdaq: LAVA)	$13.00	$30.28	133%
Nassda Corporation (Nasdaq: NSDA)	$11.00	$ 22.49	104%
Odyssey HealthCare, Inc. (Nasdaq: ODSY)	$15.00	$25.94	73%
AMN Healthcare Services, Inc. (NYSE: AHS)	$17.00	$ 27.40	61%
Centene Corporation (Nasdaq: CNTE)	$14.00	$21.95	57%
Cross Country, Inc. (Nasdaq: CCRN)	$17.00	$26.50	56%
Given Imaging Ltd. (Nasdaq: GIVN)	$12.00	$ 17.86	49%
The Advisory Board Company (Nasdaq: ABCO)	$19.00	$27.70	46%
LogicVision, Inc. (Nasdaq: LGVN)	$9.00	$ 12.75	42%
Weight Watchers International, Inc. (NYSE: WTW)	$24.00	$ 33.82	41%

"The 2001 IPO market set a lot of benchmarks, including both the second- and third-largest IPOs ever; the longest dry spell without an IPO since the 1970s; the busiest week of the year during the typically slowest IPO month; and the end of a several-year drought for defense IPOs as Pentagon contractor United Defense (NYSE: UDI) went public," said Justin Burrows, Money editor for Hoover's Online.

"Although investor sentiment remains cool and cautious, this could be the beginning of a turnaround for the IPO market. There are already some big offerings on the horizon for the beginning of 2002, including the much anticipated IPO of Verizon Wireless and the recently announced spinoff of Travelers Property Casualty from Citigroup."

About Hoover's, Inc.

Hoover's, Inc. (Nasdaq: HOOV) is a leading provider of business information. Hoover's publishes authoritative information on public and private companies worldwide, and provides industry and market intelligence. This information, along with advanced searching tools, is available through Hoover's Online (www.hoovers.com), the company's premier online service that helps sales, marketing, recruiting and business development professionals and senior-level executives get the global intelligence they need to grow their businesses. Hoover's business information is also available through corporate intranets and distribution agreements with licensees, as well as via print and CD-ROM products from Hoover's Business Press. Hoover's investors include AOL Time Warner (NYSE: AOL), Media General (NYSE: MEG), and Knowledge Universe. Hoover's is headquartered in Austin, Texas, and has offices in New York City and San Francisco.

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