MINNEAPOLIS, Feb. 28 /PRNewswire/ -- Net Perceptions, Inc. (Nasdaq: NETP), a leading supplier of real time personalization solutions, today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission for a proposed offering of up to 2,850,000 shares of the Company's common stock. Of the total shares offered, 2,000,000 shares will be offered by the Company and 850,000 shares have been reserved for sale by stockholders.

The Company has also given the underwriters an option to purchase an additional 300,000 shares to cover over-allotments. The offering will be managed by Robertson Stephens, Chase H&Q, U.S. Bancorp Piper Jaffray, Dain Rauscher Wessels and Adams, Harkness & Hill, Inc. When available, a copy of the prospectus may be obtained from Robertson Stephens, 555 California Street, Suite 2600, San Francisco, CA 94104; Chase H&Q, One Bush Street, San Francisco, CA 94104, U.S. Bancorp Piper Jaffray, 222 South Ninth Street, Minneapolis, MN 55402; Dain Rauscher Wessels, 2494 Sand Hill Road, Suite 100, Menlo Park, CA 94025; or Adams, Harkness & Hill, Inc., 60 State Street, Boston, MA 02109.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

About Net Perceptions

Net Perceptions is a leading provider of real time personalization and precision marketing software solutions for Internet and multi-channel retailers. Our software is designed to help retailers understand customers individually, optimize product assortments, prices and inventories and offer the right product to the right customer at the right price. On February 14, 2000, Net Perceptions completed its acquisition of Knowledge Discovery One (KD1), a provider of advanced data analysis solutions for multi-channel and dot.com retailers. Net Perceptions' customers include many of the world's best known brands including: Art.com; Bertelsmann; CDNOW; Egghead.com; eToys.com, Fingerhut; Hudson's Bay Company; J.C. Penney; Procter & Gamble; Tower Records; and Walgreens. The Company was incorporated in Delaware on July 3, 1996. Our principal executive offices are located at 7901 Flying Cloud Drive, Minneapolis, Minnesota 55344, and we lease offices in our other locations, including San Francisco, California, New York, New York, Austin, Texas, Richardson, Texas, and Berkshire, United Kingdom.

Net Perceptions is a registered trademark of Net Perceptions, Inc. 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 Securities and Exchange Commission.

SOURCE Net Perceptions, Inc.

CONTACT: Tony Carideo, Investor Relations, 612-833-9618, tcarideo@netperceptions.com , or Tom Donnelly, Chief Financial Officer, 612-903-1270, tdonnelly@netperceptions.com , both of Net Perceptions, Inc./