MINNEAPOLIS - Net Perceptions, Inc. (Nasdaq: NETP) announced that it has set Friday, March 12, 2004 as the date for its special meeting of stockholders at which stockholders will consider and vote upon a proposal to approve and adopt a plan of complete liquidation and dissolution of the Company. The special meeting will be held at the Company's headquarters located at 7700 France Avenue South, Edina, Minnesota and will begin at 10:00 a.m. Central Standard Time. Stockholders of record as of January 13, 2004, the record date for the special meeting, will be entitled to receive notice of and to vote at the special meeting. In connection with the special meeting, the Company has filed with the Securities and Exchange Commission, and is mailing to stockholders, a definitive proxy statement and related materials relating to the plan of liquidation.

Additional Information About the Plan of Liquidation and Where to Find It

In connection with the proposed plan of complete liquidation and dissolution, on February 12, 2004, the Company filed with the SEC a definitive proxy statement and other relevant materials. SECURITY HOLDERS OF THE COMPANY SHOULD READ THE PROXY STATEMENT AND THE OTHER RELEVANT MATERIALS BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY AND THE PLAN OF LIQUIDATION. Investors and security holders may obtain a copy of the proxy statement and such other relevant materials, and any other documents filed by the Company with the SEC, for free at the SEC's web site at www.sec.gov, or at no charge from the Company by directing a request to: Net Perceptions, Inc., 7700 France Avenue South, Edina, Minnesota 55435, Attention: President.

The Company and its executive officers and directors may be deemed to be participants in the solicitation of proxies from the Company's stockholders with respect to the proposed plan of complete liquidation and dissolution. Information regarding the direct and indirect interests of the Company's executive officers and directors in the proposed plan of complete liquidation and dissolution is included in the definitive proxy statement filed with the SEC in connection with such proposed plan.

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