AGENCY.COM Grateful That It Can Report All New York Employees are Safe and Accounted For, Following WTC Towers Attack.

Business & Technology Editors

NEW YORK--(BUSINESS WIRE)--Sept. 18, 2001

AGENCY.COM Also Announces Reorganization of the Company's

Operations; New Management Structure Focuses on Client Services;

Company Expects to Realize Annual Cost Savings of $25 Million;

Sale of Company to Seneca Investments LLC Remains On Track

AGENCY.COM, Ltd., (Nasdaq: ACOM), a leading e-business builder in global markets reported that all of its New York employees are safe and accounted for, following September 11th's terrorist attack on the World Trade Center towers.

AGENCY.COM's world headquarters are located at 20 Exchange Place, just southeast of the area most affected by the attack. The company and its wholly-owned online marketing and advertising subsidiary, i-traffic, together employ approximately 300 people at the New York headquarters.

Chan Suh, Chairman and CEO said, "We're extremely grateful that all of our New York staff is safe and accounted for. We're looking forward to getting back to work and rebuilding our professional lives."

The Company also announced that it is undertaking a reorganization of its operations to focus on key vertical industries and more properly align its capacity with the current demand for interactive services. This reorganization will begin on September 21st.

The Company's reorganization plans include a new management structure focused on the sale and delivery of AGENCY.COM's services to its global client base through a Client Partner structure. Client Partners are senior executives throughout the company who will be responsible for client accounts. Additionally, the company will be aligning its services along key vertical industries.

As part of the reorganization plan, AGENCY.COM also announced the closing of its Portland office, and a reduction of its workforce by approximately 19%, or 200 employees, including about 130 billable consultants. The company also announced, however, that in light of the devastating impact of the terrorist attack on New Yorkers in particular, no New York employee would be affected by this reduction in staff. The Company will take a charge in the third quarter of approximately $18 to $23 million, which will consist primarily of severance relating to staff reductions and real estate related charges. The company expects to realize annual cost savings of approximately $25 million as a result of these actions. In addition, as a result of these actions the Company plans to evaluate its intangible assets to determine if an impairment charge is necessary.

Suh also said, "The demand for interactive services remains challenging in the near future but we firmly believe in the value we provide our clients and our position in the business landscape. We believe that by taking this action now, we will be better positioned to service our clients through this tough environment. We remain as committed as ever to the future of the interactive services industry."

Finally, management reported that the previously announced pending sale of the company to Seneca Investments LLC, remains on track. AGENCY.COM expects the transaction to close by the end of October.

About AGENCY.COM

AGENCY.COM is a leading e-business builder in global markets. The company provides strategy, branding and technology services that help its clients build and grow their interactive business across multiple digital channels -- the Web, wireless and interactive television. Founded in January 1995, AGENCY.COM is headquartered in New York and has offices in Amsterdam, Atlanta, Boston, Chicago, Copenhagen, Dallas, London, Paris, San Francisco, Woodbridge (NJ) and affiliate offices in Australia, Korea and Singapore. AGENCY.COM serves a broad and diversified global client base in a variety of industries. For more information, please visit www.agency.com.

Matters discussed in this release include forward-looking statements that involve risks and uncertainties, and actual results may be materially different. Many factors could cause actual events or results to differ from anticipated events or results, including without limitation, the failure of the proposed merger with Seneca Investments to occur, the ability of the Company to attract additional business, the potential for contract cancellation by our customers, the ability of the Company to attract and retain skilled employees, and other items that are contained in AGENCY.COM's reports and documents filed from time to time with the Securities and Exchange Commission, which readers are urged to consult.