U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 17433 / March 25, 2002

   Securities and Exchange Commission v. Internet Capital Holdings, Inc.,
   et al., Case No. 00-9028-CIV-HURLEY (S.D. Fla.)

   The Securities and Exchange Commission announced that on January 7,
   2002, the Honorable Daniel T.K. Hurley of the United States District
   Court for the Southern District of Florida dismissed the SEC's case
   against defendant Peter J. Buzanis who was killed in June 2001.

   On October 5, 2001, the Court entered a Final Judgment of Permanent
   Injunction against defendant William E. Griffis. Griffis was enjoined
   from future violations of Sections 5(a) and 5(c), and Section 17(a) of
   the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5
   thereunder, and Section 15(a)(1) of the Exchange Act. On January 8,
   2002, the Court approved the settlement between the SEC and defendant
   Griffis. Under the terms of the settlement, Griffis agreed to disgorge
   $111,274, waiving all but $14,549.50 which he paid to the Receiver.

   On July 27, 2001, the Court entered a Final Judgment of Permanent
   Injunction against the court-appointed Receivership Entities, Internet
   Capital Holdings, Inc. and Internet Capital Holdings, II, Inc. The
   Receivership Entities were enjoined from future violations of Sections
   5(a), 5(c), and Section 17(a) of the Securities Act, Section 10(b) of
   the Exchange Act and Rule 10b-5 thereunder, and Section 7(a) of the
   Investment Company Act of 1940 and ordered to pay disgorgement and
   civil penalties. On January 22, 2002, the Court also dismissed the
   SEC's claim for disgorgement and civil money penalties against the
   Receivership Entities and relief defendant, Internet Capital
   Consultants.

   For additional information, see Litigation Release No. (November 17,
   2000)
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Modified 03/25/2002