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BestBuy.com leads $22 Million Second Round Financing of etown.com

NEW YORK-- etown.com, an online source for consumer electronics information and shopping, secured $22 million in new equity capital, led by BestBuy.com, a wholly-owned subsidiary of Best Buy Co. Inc. (NYSE: BBY) The round, which was oversubscribed, brings the total amount of capital invested in etown.com to $25.5 million. BestBuy.com was joined by ZDNet (NYSE: ZDZ) and a select group of investors including Sands Brothers, Gruber & McBaine Capital Management, Bedford Oak Partners, LP, and Valor Capital Management LP. BestBuy.com has obtained non-exclusive license rights to etown.com's editorial content including more than 4,200 product profiles and unbiased, expert product reviews and side-by-side product comparisons. BestBuy.com will also have access to IDA, etown.com's interactive shopping assistant. Additionally, BestBuy.com will participate as a retailer in etown.com's DealerWeb shopping environment and receive non-exclusive referrals from etown.com visitors wishing to make consumer electronics purchases. etown.com previously closed a $3.5 million initial round of funding in February 1999.



Freei.Net Raises $15 Million from an American Express Mutual Fund

SEATTLE -- Freei.Net, a free and anonymous Internet service provider, received a $15 million investment from the AXP Strategy Aggressive Fund, an American Express mutual fund. Freei.Net is the seventh largest Internet service provider in the nation with more than 1.5 million subscribers.


RetailExchange.com Receives $11 Million Financing

BOSTON -- RetailExchange.com, a business-to-business online marketplace specializing in the trade of excess retail goods, announced $11 million in equity financing from a consortium led by Internet Capital Group (Nasdaq: ICGE). Other participants in the financing include Dorset Capital, Castile Ventures, and Gordon Brothers Group LLC. M