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Internet Capital Group Achieves Compliance with Nasdaq SmallCap Listing Requirements

WAYNE, Pa.--(BUSINESS WIRE)--June 2, 2004--Internet Capital Group, Inc. (Nasdaq:ICGED; "ICG") announced today that Nasdaq has deemed ICG to be in full compliance with the SmallCap Market listing standards.
Since the reverse split on May 7, 2004, the closing bid price of ICG's common stock has been at $1.00 per share or greater for at least ten consecutive trading days. As such, the Company received a determination from the Nasdaq Listing Qualifications Panel stating that the Company has regained compliance with the minimum $1.00 closing bid price per share requirement and this matter is now closed.

"We are very pleased with the Nasdaq notification and the fact that ICG is now fully compliant with all listing requirements," said Walter Buckley, chairman and CEO of Internet Capital Group. "This is another indicator of the progress we have made in positioning the company for future success."

About Internet Capital Group

Internet Capital Group is an e-business applications holding company that builds and owns software and services businesses that leverage the Internet to help organizations operate more productively. Founded in 1996, ICG devotes its expertise and capital to maximizing the success of e-business companies that take advantage of the evolution to the Internet in key business sectors.

Safe Harbor Statement under Private Securities Litigation Reform Act of 1995

The statements contained in this press release that are not historical facts are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future performance of our partner companies, acquisitions or dispositions of interests in additional partner companies, debt obligations, additional financing requirements, the effect of economic conditions generally and in the e-commerce and information technology markets specifically, and uncertainties detailed in the Company's filings with the Securities and Exchange Commission. These and other factors may cause actual results to differ materially from those projected.

Contacts


Internet Capital Group
Karen Greene, 610-727-6900
IR@internetcapital.com

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