IPOs/Recent Issues – TELOCITY –

Cupertino, Calif.

Went public 3/29/2000 at $12 apiece

Filing Range:11 mil. shares @ $10 to $12

Shares Outstanding:83.8 mil. shares

Underwriters:Merrill Lynch

Credit Suisse First Boston (Co-lead)/Donaldson, Lufkin & Jenrette/Wit SoundView

FINANCIALS

(Data in $ millions)

Y/E Y/E

12/98 12/99

Total Revenue -$.19

Net Loss -7.59 -60.17

The Company:

Telocity develops, markets and delivers interactive online services and content designed for use over high-speed, or broadband, connections. These broadband connections allow Telocity customers to enjoy services and content that they could not access with traditional slower speed Internet connections. Through a recent set of agreements, NBC Internet, currently provides all of the content offered on Telocity’s jointly developed Web site the Telocity/NBCi portal. Although Telocity currently delivers its services to customers using digital subscriber line, or DSL technology, in the future, the company intends to utilize the technology it has developed to deliver these services and content over a variety of broadband technologies. Telocity generates revenue by selling monthly subscriptions for its basic service package that may include activation and other one-time fees. For a single monthly fee, a customer receives Telocity’s basic service package, which consists of constant Internet access, e-mail accounts, storage space, and hosting for Web pages and 60 minutes of remote access to the Internet each month. In July 1999, the company began offering services commercially in Chicago. As of February 29, 2000, Telocity was also offering services in more than 50 metropolitan areas in the Southeast, Northeast, upper Midwest and Mid-Atlantic cities, including Miami, Atlanta, Detroit, Philadelphia and New York. The company currently has more than 6,500 customers.

Proceeds:

Net proceeds of $111.2 million will be used for working capital, to finance lease payments, to repay notes, and for general corporate purposes.

Venture Backers:

Bessemer Venture Partners, August Capital, NBC Internet Inc., Mohr, Davidow Ventures, NBC-TLCT Holding Inc., GE Capital Equity Investments Inc.

Board Members:

Patti Hart

David Cowan

Andrew Rappaport

Edmond Sanctis

Michael Solomon

Randall Strahan