CMGI sells stake in Telet Communications, LLC to Premiere Technologies for a gain of $7.5 million.

WILMINGTON, Mass.--(BUSINESS WIRE)--Sept. 19, 1996--CMG Information Services, Inc. (NASDAQ:CMGI) today announced it had sold its equity interest in TeleT Communications, LLC of Towson, MD to Premiere Technologies (NASDAQ:PTEK) of Atlanta, GA, in a stock and cash transaction.

CMG, through its @Ventures strategic investment and development business, acquired its equity interest in TeleT on April 4, 1996. In exchange for its interest in TeleT, CMG received cash of $550,000 and 320,833 shares of Premiere stock. This transaction results in a pretax gain of approximately $7,500,000. At the time of the sale, CMG @Ventures had invested $750,000 in TeleT. This represents a return on investment of 10 times in six months.

CMG President and CEO David S. Wetherell said, "We are pleased to demonstrate to shareholders another example of a superior return on investment and our commitment to increasing the value of our company. We are confident that the continued development and commercialization of TeleT's technology and services will be enhanced by the merger with Premiere."

TeleT Communications provides products and services that combine the ease-of-use and widespread availability of an ordinary telephone with the flexibility and economies of the Internet. TeleT DialWeb provides direct telephone to Internet access for adding or editing voice, audio or graphical information on Web pages. With Amail, voice messages can be emailed over the Internet to any number of people around the world for the cost of an 800 number call.

Gregg Freishtat, President and CEO of TeleT, said, "With TeleT, Premiere establishes itself as a pioneer in leveraging the power of the Internet to develop a product that links telephones and computers into one interchangeable business tool, without requiring the user to invest in new hardware or software. Although no longer a formal member of the CMG family of companies, we will be able to bring a valuable combination of Premiere/TeleT services to CMG's Planet Direct offering to Internet Service Providers, and will continue our joint marketing/distribution programs with CMG companies Netcarta Corporation, Geocities and Lycos, Inc."

CMG Information Services, Inc. is a direct marketing services provider investing in and integrating advanced Internet, interactive media and database management technologies into products and services to take full advantage of the direct marketing opportunities afforded by new online, interactive media. CMG's @Venture subsidiary owns majority interests in Lycos, Inc. (NASDAQ:LCOS), NetCarta Corporation, Black Sun Interactive, Freemark Communications and GeoCities, and holds investments in Vicinity Corp., Ikonic Interactive and Parable LLC.

Premiere Technologies is a network-based computer telephony company specializing in the integration of information and telecommunications services. The company's proprietary network management system delivers customized data/services under its Premiere Worldlink brand as well as through strategic partners/licensees. For more information on Premiere and TeleT, visit Web site http://www.premierecomm.com.

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DialWeb and Amail are service marks of TeleT Communications.

CONTACT: Kathryn Cadigan

CMG Information Services, Inc.

Director, Investor Relations 

508/657-7000 ext. 3036

[e-mail]