MINNEAPOLIS, March 23, 2004 - Net Perceptions, Inc. (Nasdaq National Market: NETP) announced that, at a reconvened special meeting of the Company's stockholders held at the Company's headquarters today, the proposal to approve and adopt a plan of complete liquidation and dissolution of the Company did not receive the affirmative vote of a majority of the total number of shares outstanding as of the record date for the special meeting required to approve the proposal. Of the 15,773,134 shares represented in person or by proxy at the reconvened special meeting, 13,810,233 shares voted in favor of the proposal, 1,925,694 shares voted against and 37,207 shares abstained.

The Company said its board of directors would meet as soon as practicable to explore what alternatives are now available for the future of the Company.

CONTACT: Tom Donnelly
President and Chief Financial Officer
Net Perceptions, Inc.
952-842-5400
tdonnelly@netperceptions.com