Hoover's, Inc. Raises Revenue And Earnings Estimates

FOR IMMEDIATE RELEASE

AUSTIN, TEXAS - October 16, 2002 - Hoover's, Inc. (NASDAQ: HOOV) announced today that it expects revenue and net income for the period ended September 30, 2002, to be higher than the company's prior estimates. As a result of the better-than-expected performance in the fiscal second quarter, the company has increased its full year revenue and earnings forecast.

On a per-share basis, net income totaled $0.03 compared to a net loss of $0.30 in the same quarter a year ago. The company had expected net income would be between $0.01 and $0.02 per share this quarter.

Subscription revenue increased 22% over the same period last year, to $6.4 million this quarter. The company had expected subscription revenue would increase 18% to 20%. Total revenue was $7.9 million, an increase of 5% compared to the year-ago period.

For the year, Hoover's expects to report earnings of $0.10 to $0.13 per share, compared to the company's previous estimates of $0.07 to $0.09 per share. The company increased its full-year revenue growth estimates to a range of 4% to 7%, up from its prior estimates of 3% to 5%. Subscription revenues are expected to increase by 24% to 27%, up from prior growth estimates of 20% to 24%.

Conference Call

Hoover's, Inc. intends to release final and complete financial results for the fiscal second quarter in a press release distributed after the close of the regular NASDAQ trading session on Tuesday, October 29, 2002. Management intends to host its regularly scheduled conference call and simultaneous Webcast to discuss fiscal second-quarter financial results on Wednesday, October 30, 2002, at 10:00 a.m. Central (11:00 a.m. Eastern and 8:00 a.m. Pacific).

The company welcomes investors, analysts and members of the press to listen to the call by dialing 1-973-582-2788. Please ask the operator to connect you to the Hoover's earnings teleconference. To listen to the live Webcast, please go to the investor relations section of Hoover's Online at: http://investors.hoovers.com.

To replay the call through Friday, November 8, 2002, please dial 1-973-341-3080. The confirmation code for the replay is 3919351.

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

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 that helps sales, marketing and business development professionals and senior-level executives get the global intelligence they need to grow their businesses. This information, along with advanced searching tools, 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 and CD-ROM products from Hoover's Business Press. Hoover's is headquartered in Austin, Texas, and has offices in New York City and San Francisco.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995

This press release contains forward-looking statements relating to future events or results that involve risks and uncertainties, including statements regarding the company's expected revenues, expenses, gross margins, net income and other results of operations for future quarters, the size of the company's market and the success of the company's strategy. Among the important factors which could cause actual results of Hoover's, Inc. to differ materially from those contained herein include the development and success of new features and tools on Hoover's Online, both the short- and long-term industry outlook for the growth of online business services, retention of existing subscriberstomers, the company's ability to attract new subscribers and customers, its ability to achieve and sustain positive cash flow or net profits on a continued basis, competition, economic conditions specific to the Internet, as well as general economic and market conditions, and other factors detailed in Hoover's reports and documents filed from time to time with the Securities and Exchange Commission, including its recent Form 10-K and Form 10-Q filings.

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