MINNEAPOLIS--(BUSINESS WIRE)--Feb. 13, 2001--Net Perceptions, Inc (Nasdaq:NETP), an innovator in marketing and merchandising software, today announced plans that it is in the process of recruiting a new CEO and president. Upon selection of a successor, current CEO and president Steven Snyder will serve and support the company's strategic growth and development as chairman of Net Perceptions' board of directors.

"Steven's vision was the catalyst that spawned the entire personalization industry and carried the company into the retail sector," said Ann Winblad, Net Perceptions board member and co-founding partner, Hummer Winblad Venture Partners. "He's been a tremendous asset to Net Perceptions, and we'll be seeking a new CEO with an equally strong vision who will lead Net Perceptions into its next stage of growth."

Snyder will lead the board of directors' efforts to select the company's new CEO. The executive recruitment firm, Russell Reynolds Associates, has been retained to help coordinate the search.

"This is the right time to bring in new leadership," said Snyder. "I've served for five years and during that time we've accomplished a great deal. We've gone from an Internet startup to an established resource to multi-channel retailers - both on and off the Web - with a solid team of talented and committed professionals. I remain committed to the company's future and look forward to serving in my new role as chairman."

Snyder is one of the company's original co-founders. During his tenure, he has helped the company grow from a pioneer and recognized leader in personalized e-business to one of the most sophisticated developers of marketing and merchandising software in the world. Today, the company's customers include such category leaders as Best Buy, Kmart, JP Morgan, JC Penney and Procter & Gamble. The company reported $36.6 million in sales for 2000.

About Net Perceptions

Net Perceptions, a leading provider of precision merchandising and personalization infrastructure software, is the innovator and preeminent supplier of software solutions that allow companies to translate insight into profitable business action. Its Commerce Solutions and Knowledge Solutions products enable companies to capitalize on business information and optimize product assortments, pricing, customer relationships and intellectual capital. Customers include Best Buy, GUS, J.P. Morgan, JC Penney, Kmart and Tesco.

Earlier this year Net Perceptions successfully unveiled a suite of retail-specific marketing and merchandising e-business solutions under the Retail Revelations brand name. New to the suite of products was the latest version of the company's premier Personalization Manager product. This software program allows companies to manage both merchandising and marketing on their Web sites from a single, easy-to-use, software "dashboard."

Net Perceptions also recently announced the largest contract in its history, a multi-million dollar deal with the country's third largest catalog retailer, Brylane. Brylane finalized the contract after the successful completion of a pilot test within its call center operations. During the pilot, Net Perceptions technology delivered a significant lift to promotional effectiveness and, more importantly, to bottom line revenue. Net Perceptions is expected to deliver a substantial lift to the retailer's overall sales when the technology is rolled out throughout its entire call center and e-commerce operations during the coming year.

Net Perceptions is based in the U.S. and has offices in six other countries, as well as a joint venture operation in Japan. For more information 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

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