San Francisco (April 1, 1999) - Walden International ("WI") is pleased to announce the successful initial public offering of one of its portfolio companies, MININGCO.COM ("MINE" or the "Company") after a one and a half-year initial investment. The shares of MINE began trading on March 24, 1999, on the U.S. NASDAQ. Bear, Stearns & Co. Inc. was the lead underwriter. MINE's IPO price was raised from its initial filing range of US$12-14 per share to US$25 per share. Including the over-allotments exercised by the underwriters, MINE raised approximately US$86 million from this offering.

MININGCO.COM is a leading Internet news, information and entertainment service. The company's network is comprised of over 600 GuideSites, each of which focuses on a specific topic and is managed by a knowledgeable human guide. MININGCO.COM provides enhanced Internet navigation through annotated Internet directories that include more than 400,000 pre-screened links to other web sites, enabling users to quickly find relevant Internet content. The GuideSite network also aggregates original contents edited regularly by the guides on thousands of subjects. Additionally, the company's GuideSites provide focused forums around which organized and moderated online communities develop. According to Media Metrix, Inc., over 4.2 million unique users visited MININGCO.COM in November 1998, making MININGCO.COM the 4th largest news/information/entertainment Internet property in terms of audience reach and the 26th largest Internet property overall.

The company's GuideSite network provides a highly targeted platform for advertisers and e-commerce marketers over a broad range of consumer and business categories. Some of the company's recent advertisers and e-commerce partners include Bertelsmann Music Group, Citibank, eBay, IBM, Lowestfare.com, Office Max, and Schering-Plough.

Established in 1987, WI is an international venture capital firm with over US$850 million in funds under management. WI's international network of investment professionals are located in the United States, Taiwan, Singapore, Hong Kong, Malaysia, the People's Republic of China, the Philippines, Indonesia, India, Australia, and Thailand.