MINNEAPOLIS--(BUSINESS WIRE)--May 29, 2001--Net Perceptions, Inc. (Nasdaq:NETP) today announced that it has appointed Don C. Peterson as the company's new president and CEO. Peterson is an entrepreneur with a proven track record for building successful businesses.

"Net Perceptions is solving real demand-side business problems for some of the world's largest retailers," said Peterson. "This is a unique company with proven technology and an excellent customer portfolio. I'm very excited to build from such a strong foundation."

Peterson, 39, has more than 17 years of technology-related experience including founding Shamrock Computer Resources in 1989. He served as CEO and president of the IT services and e-commerce application development firm, growing it to a 500-person operation with six offices and annual revenues of $44 million in less than seven years. In 1996, Peterson sold the company to Renaissance Worldwide, Inc., where he served as a lead executive until 1999. Prior to Renaissance, Peterson held sales and consulting positions with Arthur Andersen (now Accenture), IBM and Cap Gemini.

"Don is a dynamic leader with the proven ability to rapidly build and effectively manage complex, technology-oriented businesses," said Will Lansing, NBCi CEO and Net Perceptions board member. "He has a lot to offer Net Perceptions and will be able to leverage more than a decade's worth of sales, marketing and strategic management experience to help grow the company and realize its full potential."

Peterson, who will also become a member of the company's Board of Directors, succeeds Steven J. Snyder, who had previously announced his plans to leave the post upon the naming of a successor. One of the company's original founders, Snyder plans to continue to serve the company as chairman of Net Perceptions' Board of Directors.

About Net Perceptions

Net Perceptions (Nasdaq:NETP) provides intelligent demand generation solutions to multi-channel retailers. Its Retail Revelations suite of software and services measurably improves merchandising, marketing and advertising effectiveness by providing actionable insight into product, promotion and customer interactions. Founded in 1996, Net Perceptions is headquartered in Minneapolis and has offices throughout the United States and in Europe. Customers include market leaders such as Best Buy, Brylane, GUS (Great Universal Stores), JC Penney, Kmart and Tesco. For more information visit http://www.netperceptions.com or call 800-466-0711. Net Perceptions and its logo are registered trademarks 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. For more information, media only: Jacqueline Hanson, Net Perceptions, (952) 842-5063 jhanson@netperceptions.com