BUSINESSWEEK ONLINE : APRIL 3, 2000 ISSUE
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INTERNATIONAL -- EUROPEAN BUSINESS

Europe's Wave of Web IPOs


                                                    SHARE PRICE
INTERNET SERVICE PROVIDERS    IPO SHARE PRICE         (3/22) 

AFFINITY INTERNET HOLDINGS    $1.12, April, 1999       $68.80
(Britain)

FREESERVE Britain             $2.40, July, 1999        $7.25

TISCALI Italy                 $47, October, 1999       $724

TERRA NETWORKS Spain          $13.40, November, 1999   $80.40

LIBERTYSURF France            $39, Mar. 17, 2000       $64

WORLD ONLINE The Netherlands  $41.28, Mar. 17, 2000    $31.20


PLANNED IPOs

T-ONLINE Germany          Hopes to raise $4 billion in April

CHELLO The Netherlands    Hopes to raise $1 billion in June

TISCALI Italy             Plans second offering of 400
                          million shares in April/May

DATA: HSBC, BUSINESS WEEK


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RELATED ITEMS
A Blip--or a Bad Omen? (int'l edition)

TABLE: Europe's Wave of Web IPOs



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