SAN FRANCISCO--(BUSINESS WIRE)--July 24, 2000--LookSmart (Nasdaq:LOOK), the global leader in Internet search infrastructure, announced that its common stock has been added to the Russell 2000 Index, effective July 1, 2000.
The Russell 2000 Index is a market capitalization weighted index measuring the performance of the smallest 2,000 companies, on a market capitalization basis, in the Russell 3000 index. The index is used by investment firms that use an indexing strategy in their investment portfolios. LookSmart's inclusion in the Russell 2000 Index makes it possible for the company to be included in those portfolios that use the Index as a benchmark for their investments. Frank Russell Company, the publisher of the Index, estimates that more than $175 billion is invested in index funds that use its U.S. stock indices as their model.
"We are thrilled to be a part of the Russell 2000 Index and for LookSmart to have a highlighted profile within the investment community," said Ned Brody, chief financial officer of LookSmart.
LookSmart is the global leader in Internet search infrastructure, dedicated to helping the world find useful information quickly. LookSmart's search service reaches more than 58 million people a month (77 percent of all Internet users in the United States) through LookSmart's Web properties and partner sites. The company provides its search solutions to leading Internet portals, ISPs and Web sites including Microsoft's MSN, Netscape Netcenter, Time Warner, Excite@Home, Sony, BT, Road Runner, Prodigy, US West, AltaVista, NetZero, more than 370 Internet service providers and thousands of Web sites. LookSmart's search solutions include a collection of over 1.8 million high-quality URLs organized into more than 170,000 categories. LookSmart has built Web directories for 30 countries, including the United States, the United Kingdom, Canada, Australia, Japan, Korea, Mexico and Brazil. Through its partnership with Cox Interactive Media, LookSmart also offers one of the largest collections of quality local Web content in more than 70 U.S. markets. LookSmart is the official search infrastructure provider for www.Olympics.com, the official Web site of the Sydney 2000 Olympic Games. The company is headquartered in San Francisco and can be contacted at 415/348-7000.
CONTACT: LookSmart, San Francisco
Lillian Lee, 415/348-7555