Wednesday January 3, 9:08 am Eastern Time

Press Release

SOURCE: LocalBusiness.com

LocalBusiness.com Releases 1st Quarter 2001 '50 To Watch' List In New York City

List Recognizes 1,150 Emerging Small- and Medium-Sized Companies in 23 Markets Nationwide

FORT LAUDERDALE, Fla., Jan. 3 /PRNewswire/ -- LocalBusiness.com (www.localbusiness.com), the online local business news and destination site, released today its quarterly ``50 to Watch'' list of the 50 most newsworthy emerging private and public small-to-medium-cap companies in 23 markets nationwide, including New York City.

LocalBusiness.com generates 500 original news stories each week by a staff of more than 50 reporters and editors nationwide focusing on local breaking business news, including technology, venture capital and small business. Each quarter, LocalBusiness.com unveils its ``50 to Watch'' list that highlights companies that are newsmakers and are poised for change. Some companies have defined new standards, attracted significant venture capital investment, forged influential business models, developed products and services that will change business, while others may make the news in the next quarter for the challenges they face.

``The '50 to Watch' list represents a diverse selection of emerging companies that will be making news over the next three months. Some of these companies possess tremendous growth potential and some face significant challenges in this volatile market,'' said Kurt Greenbaum, Executive Editor of LocalBusiness.com. ``In other words, we can learn as much from companies that are struggling as we can from those that are thriving. Our readers depend on the comprehensive B2B breaking news coverage that only LocalBusiness.com provides in each market and the '50 to Watch' list highlights those companies that should definitely be watched in the next quarter.''

To generate the LocalBusiness.com ``50 to Watch'' list, reporters and editors research the public and private companies in their cities, network in the VC and local business community and analyze the information sent to them by companies who nominate themselves for the list. Innovation, vision, significant venture capital funding, valuable customer contracts and new markets are among the criteria that place companies on the ``50 to Watch'' list.

LocalBusiness.com's 1st Quarter 2001 ``50 to Watch'' list for New York City includes the following companies:

How To Be Considered for the LocalBusiness.com ``50 To Watch'' List

Reporters and editors begin to develop each ``50 to Watch'' list early in the preceding quarter by researching information about public and private emerging companies. Overall, they seek companies that have attracted or will be attracting substantial venture capital, possess strong management, that are building new markets or job opportunities and that are poised for a major news announcement.

In addition, a company can nominate itself online to be considered for the LocalBusiness.com ``50 to Watch'' list. To nominate a company that might be worthy of attention in one of the markets, simply visit http://www.LocalBusiness.com/Top50/nominatedb50.htm. The deadline for submissions is 15 business days prior to the end of each quarter. The next LocalBusiness.com ``50 to Watch'' list will be for the 2nd quarter of 2001 and will be released on April 2, 2001.

About LocalBusiness.com

LocalBusiness.com is a leading Internet provider of breaking local news and intelligence, tools and research resources for small- and medium-sized businesses in over 24 major markets across the United States. The company's institutional investors include U.S. Equity Partners, L.P., the private equity fund sponsored by Wasserstein Perella & Co., Inc., Rustic Canyon Ventures, a venture capital fund, and Tribune Ventures, the strategic investment unit of Tribune Company. LocalBusiness.com also publishes digitalsouth magazine (digitalsouth.com), the only publication that covers leading-edge technology companies, venture capital and finance from the Mason-Dixon line to the Florida Keys and west to Texas.