Procter & Gamble is the First Customer of This Revolutionary New Product

NEW YORK, Oct. 6 /PRNewswire/ -- Net Perceptions (Nasdaq: NETP), the leading supplier of Realtime personalization solutions, Wednesday introduced Net Perceptions for Knowledge Management, a ground-breaking product that brings the value of real-time personalization to an entirely new community of users: organizations that want to become more productive through the use of real-time personalization technologies.

Introduced at Internet World Fall '99, the Minneapolis-based Net Perceptions, Inc. also announced that Procter & Gamble had signed a license to become the first Net Perceptions for Knowledge Management customer.

"This product represents a strategic broadening of personalization technologies," said Steven Snyder, president and CEO of Net Perceptions. "Our new Knowledge Management application builds on the high degree of value that real-time personalization brings to e-commerce and call center applications. A company's employees will now have ready and tailored access to all the knowledge, both tacit and explicit, that the company has accrued, not just access to a document retrieval system. We are especially pleased that Procter & Gamble, one of the world's pre-eminent consumer product companies, is our first customer for this exciting new product."

Procter & Gamble purchased Version 1.0 of Net Perceptions for Knowledge Management and is piloting the product in several applications.

"Key to our Knowledge Management strategy is enabling people to benefit from other people's knowledge, experiences and work products," said Todd Garrett, Chief Information Officer of Procter & Gamble. "We chose Net Perceptions because it focuses on transparently modeling people's knowledge profile and then proactively finding and recommending people and documents to help them based on their individual knowledge needs. We are hopeful this product will become part of our foundation for the knowledge exchange and synthesis required to quickly develop newer and better products."

Said Phil Perkins, Senior Director of Knowledge Management for The Pillsbury Company: "Net Perceptions provides companies with a great tool for managing organizational knowledge. This unique product enables companies to leverage all three elements of Knowledge Management; human capital, structural capital and relationship capital. By tracking the use of organizational knowledge and identifying 'virtual neighbors' the product is able to put employees in contact with others who have in the past or are currently working on similar problems, even if they are in different divisions or countries.

"Net Perceptions also recommends past studies, reports and findings that reduces the risk of redundant duplication of effort," said Dr. Perkins, who is the Keynote Speaker and Co-chair of the annual Knowledge Management World Summit. "It allows each problem to be solved with the collective knowledge of the organization."

How Net Perceptions for Knowledge Management works

Net Perceptions for Knowledge Management is the first knowledge management solution designed from the ground up around the people within the organization, their expertise, their research, and their experiences. By automatically creating and maintaining behavioral profiles of individuals, Net Perceptions can connect people needing knowledge with the people and most relevant explicit knowledge that can assist them.

Traditional knowledge management approaches focus on managing explicit knowledge, such as research documents, user manuals, or proposals. This information is most often accessed through a company's Intranet portal.

Net Perceptions for Knowledge Management is unique in its marriage of this explicit knowledge with tacit knowledge. Tacit knowledge is widely considered the richest and most current form of knowledge, allowing people to connect with co-workers and documents based on their professional interests and activities. Perhaps most important, this new application gathers data and presents its recommendations without requiring the employee to actively enter a series of preferences and limits. This dramatically increases the probability that the end-user will use and benefit from companies' investment in their Intranet corporate portals.

"Up to this point most available knowledge management tools have been designed around documents, not people," said Sang Kim, Product Manager for Net Perceptions for Knowledge Management.. "While efficient methods of organizing and retrieving documents is critical, the real payoff comes when companies enable employees to benefit from the work and experiences of other people. Only in this way can companies reduce the amount of duplicate efforts and increase the leverage and production of new knowledge."

Internet World Fall

Located at Internet World Fall's Booth #2205, Net Perceptions will preview Net Perceptions for Knowledge Management for press and trade show audiences. Net Perceptions for Knowledge Management is available immediately.

About Net Perceptions

Net Perceptions is the leading supplier of real-time personalization solutions that enable businesses to market to customers on a true one-to-one basis across multiple touch points. Net Perceptions' solutions increase new and repeat business on the web and in call centers by learning more about each customer's individual needs, tastes and preferences with every interaction, then making increasingly personalized product and service recommendations. Net Perceptions, based in Minneapolis, is a publicly held company which operates additional offices in New York, San Francisco, and England and a joint venture office in Japan. Customers include many of the world's best known brands including: Art.com; Bertelsmann; Billboard TalentNet; CDnow; E!Online, Micron, SkyMall, Tower Records and Ticketmaster Online. For more information about Net Perceptions products visit http://www.netperceptions.com or call 800-466-0711.

Net Perceptions is a registered trademark of Net Perceptions. All other trademarks are the property of their respective owners.

This news release contains forward-looking statements that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the company's limited operating history, delays in product development, development of the Internet market, changes in product pricing policies, competitive pressures, and the risk factors detailed from time to time in the company's periodic reports and registration statements filed with the U.S. Securities and Exchange Commission.

SOURCE Net Perceptions