Class Action Filed Against Ilife.com Inc., Certain of Its Officers and Directors, ING Baring Furman Selz LLC, Warburg Dillon Read LLC, and KPMG LLP Alleging Violations of Federal Securities Laws.

Business Editors & Legal Writers

NEW YORK--(BUSINESS WIRE)--March 30, 2000

The following is an announcement by the law firm of Rabin & Peckel LLP.

A class action has been commenced in the United States District Court for the Southern District of New York, on behalf of purchasers of Ilife.com Inc. ("Ilife" or the "Company") (Nasdaq: ILIF) common stock during the period from May 13, 1999 through March 27, 2000, inclusive (the "Class Period").

The Complaint alleges that Ilife, certain of its officers and directors, ING Baring Furman Selz LLC, Warburg Dillon Read LLC, and KPMG LLP violated section 11 of the Securities Act of 1933 and that certain defendants violated section 10(b) of the Securities Exchange Act of 1934. In particular, it is alleged, among other things, that the Registration Statement and Prospectus were materially false and misleading because it failed to disclose the massive loss for the March 1999 quarter, even though that quarter had ended 43 days before the Offering, it misrepresented the true financial condition of the Company as of the effective date, it misrepresented the use of proceeds of the Offering, and it failed to disclose the stockholder deficit as of the effective date of the Offering. The Complaint alleges that as a result of these material misstatements and omissions, Ilife's stock price was artificially inflated throughout the Class Period.

Plaintiff seeks to recover damages suffered by class members and is represented by the law firm of Rabin & Peckel LLP. Rabin & Peckel LLP and its predecessor firms have devoted its practice to shareholder class actions and complex commercial litigation for more than thirty years and have recovered hundreds of millions of dollars for shareholders in class actions throughout the United States.

If you are a member of the class described above, you may, no later than May 30, 2000 move the Court to serve as lead plaintiff of the class, if you so choose. To serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this announcement or your rights or interests, please contact Joseph V. McBride, Rabin & Peckel LLP, 275 Madison Avenue, New York, NY 10016, by telephone at [phone] or [phone], by facsimile at [phone], by e-mail at [e-mail].