Giga Information Group Teams With European Investors to Create New Venture; GigaGroup to deliver IT and e-Business research, analysis and consulting in Western Europe.

Business Editors

CAMBRIDGE, Mass. and PARIS--(BUSINESS WIRE)--Sept. 6, 2000

Giga Information Group, Inc. (NASDAQ:GIGX) today announced that its French operation has received an investment of approximately $4 million from seven leading European venture investment firms to create GigaGroup SA. The seven investors are Pre IPO.net (launched by Banque du Louvre), BNP PARIBAS, CIME, ING, Natexis (Banques Populaires), Siparex and Trinova.

GigaGroup will deliver IT and e-Business research, analysis and consulting in Belgium, France, Italy, Luxembourg, Netherlands, Portugal, Spain and Switzerland. It will provide its clients with the objective, practical and relevant IT expertise, coaching and ongoing collaboration necessary for competitive advantage in today's business environment. GigaGroup also plans to open offices in Brussels, Lisbon, Madrid and Zurich to supplement its headquarters in Paris and two existing offices in Amsterdam and Milan. (more)

Giga Information Group will own less than 20% of the new venture. As a result, Giga Information Group will no longer consolidate the results of its French operations in its financial statements. GigaGroup will purchase services for resale to its customers from Giga Information Group, with these purchases recognized as revenues by Giga Information Group.

"International growth is a major element of our strategy, and this new venture allows us to accelerate these expansion plans," notes Robert K. Weiler, chairman and chief executive officer of Giga Information Group. "We also plan to expand our operations in Germany, the United Kingdom and Scandinavia, which offer great opportunities for growth. Our focus is to help our clients make local as well as global strategic IT and e-Business decisions as the high-tech, global economy continues to evolve and adapt to different countries and regions."

Bruno Tourme, who headed Giga Information Group's European, Middle Eastern and African operations, has been named chairman and CEO of GigaGroup. "The combination of GigaGroup's in-depth local understanding and expertise plus the depth and breadth of Giga Information Group's research make us unique in this industry," said Tourme.

"The creation of GigaGroup is a component of our strategy to continue to expand globally while, at the same time, build a stronger presence and base in Europe," said Jean-Michel Six, vice president, International, of Giga Information Group and a member of GigaGroup's board of directors. "The new venture will enable Giga to meet client needs in a wide variety of geographic markets while enhancing our service to a growing number of clients needing both global and local IT and e-Business knowledge to build value, create advantage and deliver results."

About Giga Information Group

Giga Information Group (NASDAQ: GIGX) provides objective research, advice and continuous coaching on technology for e-Business. Giga's integrated suite of offerings helps clients make strategic decisions about the technologies, people and processes needed to excel in the new digital economy. Emphasizing close interaction between analysts and clients, Giga delivers support with the speed and scope necessary for e-Business.

Giga began providing services in April 1996 and now has a global client base encompassing more than 1,200 organizations and over 120,000 licensed users. Its enterprise clients include companies that use, sell and invest in technology.

Statements that are not historical fact may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but rather reflect Giga's current expectations concerning future events and results. Giga generally uses the words "believes", "expects", "intends", "plans", "anticipates", "likely", "will" and similar expressions to identify forward-looking statements. Such forward looking statements, including those concerning Giga's expectations, involve known and unknown risks, uncertainties and other factors, some of which are beyond Giga's control, which may cause Giga's actual results, performance or achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward looking statements. In evaluating such statements as well as the future prospects of Giga, specific consideration should be given to various factors including the following: Giga's prior losses and anticipation of future losses; Giga's need to attract and retain qualified personnel; Giga's dependence on sales and renewals of subscription-based services; Giga's ability to achieve and sustain high renewal rates; Giga's ability to manage and sustain growth; Giga's future capital needs and the risks of working capital deficiency; Giga's dependence on key personnel; competition from other companies including those with greater resources than Giga; the risks associated with the development of new services and products; the potential for significant fluctuations in quarterly operating results; continued market acceptance of and demand for Giga services; uncertainties relating to proprietary rights; Giga's dependence on the Internet infrastructure; the risk of system failure; the risks related to content; the risks associated with international operations and other risks as detailed from time-to-time in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements as a result of new information, unanticipated events, or otherwise.