Accel-KKR, Groupe Arnault and Europatweb Join Forces to Create AKA Technology.

Business Editors

PALO ALTO, Calif. / NEW YORK & PARIS--(BUSINESS WIRE)--

Oct. 2, 2000

Joint Venture Will Capitalize on Opportunities To Develop Internet

Age Companies Across Europe

Accel-KKR and Groupe Arnault, along with its subsidiary, Europatweb, today announced the creation of AKA Technology, a joint venture that will provide intellectual and financial capital and related services to established European companies seeking to achieve more rapid growth and value by building new and separate businesses that integrate their online and offline strategies.

AKA Technology will combine Accel-KKR's expertise in building companies that leverage online and offline assets with Groupe Arnault's and Europatweb's extensive technology experience, network of talented European technology professionals, and knowledge of the European marketplace. As Accel-KKR has done in North America, AKA Technology will invest alongside European companies seeking to create companies that combine the best of new technology and existing assets, and provide them with broader and better access to management expertise, networking opportunities and accelerated speed-to-market capabilities.

Henry R. Kravis, director of Accel-KKR and a founding partner of KKR and James Breyer, director of Accel-KKR and managing partner of Accel Partners, said, "Established companies across Europe are revitalizing themselves and thriving with aggressive, shareholder-friendly and globally-competitive strategies. Others are leading the development of new technologies and business models in such areas as wireless communications, where Europe leads the world in the development of standards, technologies, products and services. We expect AKA Technology to thrive in this environment by working with leading companies to blend the best of the old and new economies to create a new class of companies for the Internet age. We believe Groupe Arnault is the perfect partner to help us create powerful new businesses across Europe."

Bernard Arnault, Chairman of Groupe Arnault, the parent company of Europatweb, and Chairman and CEO of LVMH, the world's leading luxury goods group, said, "This partnership brings together a group of people at KKR, Accel, Accel-KKR and Europatweb who share the belief that creativity, an entrepreneurial spirit, and a passion for quality are the key ingredients for success in any business. In AKA Technology, we are creating a company that not only embodies these principles, but that has deep expertise as well. AKA Technology is ideally positioned to capitalize on the long-term opportunities for European companies to build value through the intelligent combination of established brand names, physical assets and online capabilities."

Dennis H. Jones, CEO of Accel-KKR, added, "Groupe Arnault brings this new enterprise extensive experience, real market knowledge, and a terrific running start when it comes to getting people on the ground across Europe. We'll be working together closely to develop opportunities and work with Europe's leading corporations and most promising technology companies to create the leaders of the future." Mr. Jones will be on the Board of AKA Technology and play an active role in overseeing and aiding the company's development.

About Accel-KKR

Accel-KKR was created by Accel Partners, one of the world's most successful and highly regarded venture capital firms, and Kohlberg Kravis Roberts & Co (KKR), one of the world's leading private equity firms, to focus on the next wave of Internet development - the integration of online and offline assets. Accel-KKR was founded on the conviction that the next major wave of businesses to be built in the New Economy will be combinations of established corporations and innovative Internet business models. Accel-KKR helps build these enterprises by marrying the best assets of incumbent companies with the innovation and technology of the Internet. To date, the company has made investments in the following companies:

-- eMac Digital, a new company formed with McDonald's Corporation to build
global Internet-related businesses for the foodservice industry

-- GroceryWorks.com, an online home fulfillment business in which Accel-KKR has
invested alongside Safeway, one of the largest food and drug retailers in North
America.

-- Found.com, an e-infrastructure technology solution provider for retailers
and manufacturers.

-- Model N, a marketplace services provider that will enable the next
generation of business-to-business marketplaces.

For more information about Accel-KKR, please visit www.accel-kkr.com.

About Groupe Arnault

Groupe Arnault is the private holding company of Bernard Arnault, Chairman and CEO of LVMH, the world's leading luxury products group.

About Europatweb

Europatweb is the private internet investment arm of Paris-based Groupe Arnault. Established in mid-1999 with initial capital reserves of 500 million Euros, Europatweb's aim is to bring together web-based companies with a strong growth potential and to help them develop their businesses. In the US, Europ@web has taken strategic stakes in entities such as Quios, Liquidation.com and Metamarkets.com. Europatweb's European team contributed to the creation of Liberty Surf, the free Internet Service Provider leader in France, set up Zebank the first European financial portal, and took a majority stake in Aucland, one of Europe's leading online auction sites. Europatweb owns stakes in various online companies, including Flutter.com, ProXchange, Liquidation, Quios, Logmetrix, Medlive, Globeflow, and Acticall, among others.