Initial Public Offerings and trade sale of portfolio companies

The directors of Net Investor PLC are pleased to report that two further investments in its portfolio are now publicly traded companies. A trade sale has also taken place.

• Adolor Corporation (ADLR) was listed on Nasdaq on 14 November 2000. Net Investor's participation is through the Sprout IX Limited Partnership. The listing price was $15 per share and the acquisition price was $5 per share.
• Alliance Fiber Optic Products Inc. (AFOP) was listed on NASDAQ on 20 November 2000. Net Investor's participation is through New Enterprise Associates 9 Limited Partnership. The Listing price was $11 per share and the acquistion price was $5.50 per share.
• E*Offering, also held within the New Enterprise Associates 9 Limited Partnership, was the subject of a trade sale. NEA 9's position, sold to Wit SoundView, was acquired at a cost of $5 mil. and had a sale value of $17mil.

In addition to the trade sale a total of nine portfolio companies have now made Initial Public Offerings since Net Investor launched in February this year.

Tim Childs, Managing Director of Net Investor, comments: "Given the volatile public market, we see these IPOs and the trade sale as an indication of the quality of the funds in which we have invested."