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FOR: NetCreations, Inc.
APPROVED BY: Robert Mattes
Chief Financial Officer
(212) 625-1370
FOR IMMEDIATE RELEASE
CONTACT: Investor Relations:
Cheryl Schneider/Brian Schaffer
Press: Robert Ingram/Emily Brunner
Morgen-Walke Associates
(212) 850-5600
NETCREATIONS RECEIVES THIRD-PARTY OFFER TO ACQUIRE
OUTSTANDING SHARES FOR $7 CASH
New York, NY, December 21, 2000 -- NetCreations, Inc. (NASDAQ: NTCR),
the leading provider of 100% Opt-In(R) email marketing services, announced today
that it has received a binding written offer from an unrelated third party to
acquire all of the outstanding shares of NetCreations' common stock for $7.00 in
cash.
The Board of Directors of NetCreations has determined that this offer
constitutes a "Superior Proposal" within the meaning of NetCreations' existing
Agreement and Plan of Merger with DoubleClick Inc. Consequently, NetCreations
has notified DoubleClick of its intention to accept the competing third party
offer.
Under the Agreement and Plan of Merger with DoubleClick announced on
October 3, 2000, NetCreations cannot accept or enter into the competing
third-party offer without complying with several conditions set forth in the
Agreement and Plan of Merger, including notification to DoubleClick, which has
been given, and the passage of three business days. If DoubleClick makes an
offer to NetCreations during that three-day period, NetCreations may not accept
the competing third-party offer if its Board of Directors determines that the
offer by DoubleClick is at least as favorable to the shareholders of
NetCreations as the competing third-party offer. DoubleClick is under no
obligation to make an offer to NetCreations. Furthermore, DoubleClick may now
elect to terminate the Agreement and Plan of Merger. If DoubleClick
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NETCREATIONS RECEIVES THIRD-PARTY OFFER TO PAGE: 2
ACQUIRE OUTSTANDING SHARES FOR $7 CASH
terminates the Agreement and Plan of Merger, or if NetCreations terminates the
Agreement and Plan of Merger in order to accept the competing third-party offer,
the Agreement and Plan of Merger provides that NetCreations will pay to
DoubleClick the sum of $8.6 million plus certain expenses.
About NetCreations
NetCreations, Inc. (Nasdaq: NTCR), the leader in 100% Opt-In(R) email marketing
services, specializes in email address list management, brokerage and delivery.
Through its PostMasterDirect.com service, NetCreations has conducted marketing
campaigns on behalf of over 2,000 direct marketing clients to targeted consumers
in its database of over 22 million 100% Opt-In email addresses. These addresses
belong to Internet users who have requested promotional information related to
specific topics of interest (opt-in) and confirmed their request (double
opt-in). NetCreations manages opt-in email lists for more than 380 third-party
Web sites including CNET, Uproar, About.com, Network Solutions, internet.com,
CBS SportsLine, CDROM Guide and LuckySurf.com. NetCreations protects the privacy
of consumers on the Internet by not disclosing email addresses or any other
personally identifiable information to direct marketers.
This release contains forward-looking statements that are subject to risks and
uncertainties including, but not limited to, the impact of competitive products
and pricing, product demand and market acceptance, reliance on key strategic
alliances, fluctuations in operating results and other risks detailed from time
to time in the Company's filings with the Securities and Exchange Commission.
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