OCLC Makes Offer re. netLibrary

[Ann Okerson <ann.okerson@yale.edu>]

Another update on NetLibrary, with complete contact points, for the
liblicense listserve.

Maryam Dehnadi
Joint Bank-Fund Library
Washington DC 20431

__________________
FOR IMMEDIATE RELEASE

FOR MORE INFORMATION:
Nita Dean +1-614-761-5002
nita_dean@oclc.org
Marge Gammon +1-303-381-8799
mgammon@netlibrary.com

OCLC MAKES OFFER TO PURCHASE ASSETS OF NETLIBRARY

DUBLIN, Ohio, Nov. 15, 2001--Subject to the approval of the bankruptcy
court, OCLC Online Computer Library Center announces that it has made an
offer to purchase substantially all the assets of netLibrary and assume
certain netLibrary liabilities.  netLibrary is a leading provider of
eBooks, eTextbooks and Internet-based content/collection management
services.

Concurrently, netLibrary announced that it has voluntarily filed a
petition with the U.S. Bankruptcy Court for the District of Colorado for
relief under Chapter 11 of the U.S. Bankruptcy Code.   The transaction
includes a loan from OCLC, to be repaid upon the consummation of the asset
sale, to fund netLibrary's on-going operations through the transition
period.  OCLC's purchase of netLibrary's assets and its operating-funds
loan to netLibrary are both subject to approval of the bankruptcy court.

"Electronic books and other forms of electronic content are quickly
becoming strategic drivers in the sharing and advancement of knowledge in
the digital age," said Jay Jordan, president and CEO, OCLC.  "This
potential alliance with netLibrary would advance our strategic directive
to deliver technologies and services that support, extend and enhance the
OCLC membership cooperative.  eBooks complement our growing e-journal
collection and provide exciting new synergies for our cataloging, resource
sharing, reference and digital preservation services."

"Across the OCLC cooperative, there is strong interest in OCLC's pursuing
an alliance that would continue to make netLibrary's eBook collection
available," said William J. Crowe, Chair, OCLC Board of Trustees.
"Indeed, 14 of OCLC's 16 U.S. regional network affiliates have
arrangements for libraries in their regions to purchase netLibrary
resources.  The OCLC Board of Trustees has expressed its strong support
for pursuing this proposed alliance with netLibrary."

"OCLC represents an excellent opportunity for netLibrary patrons,
customers and content partners to continue to deliver the benefits of
eBooks and electronic media to an expanding market.  OCLC and netLibrary
share a common commitment to grow and strengthen the role of libraries and
educators in the digital age," said Rob Kaufman, president and CEO of
netLibrary.  "We are proud of netLibrary's role in pioneering the eBook
and eTextbook markets.  A potential alliance with OCLC would extend the
opportunity to reach more patrons, grow catalog content and provide new
and innovative learning opportunities in libraries, classrooms, homes and
offices around the globe."

netLibrary develops and markets eBooks and MetaText digital textbooks.
eBooks are full-text electronic versions of published books that library
patrons can search, borrow, read, and return via the Internet.  With
netLibrary eBooks, users can access library resources anywhere, anytime,
and perform full-text searches across hundreds of books or within a
specific book to speed research and reference projects.  eBooks can be
viewed online from any location using an Internet browser.  netLibrary's
catalog now contains approximately 40,000 titles covering a wide range of
subject areas such as business, economics, technology, the social sciences
and more.

netLibrary also markets MetaText digital textbooks, interactive, web-based
textbooks with enhanced teaching, collaborating and learning tools for
teachers and students.  MetaText works with the leading textbook
publishers to transform print textbooks into course-centric digital
textbook learning environments.  The MetaText catalog of digital
textbooks, which includes more than 160 titles, covers topical areas
ranging from Anthropology to Zoology.

About OCLC

Headquartered in Dublin, Ohio, OCLC Online Computer Library Center is a
nonprofit organization that provides computer-based cataloging, reference,
resource sharing and preservation services to 40,000 libraries in 81
countries and territories.  OCLC was founded in 1967 to improve access to
the world's information and reduce information costs, and conducts ongoing
research to develop technologies to support that mission.  Forest Press, a
division of OCLC since 1988, publishes the Dewey Decimal Classification
system.

In the United States, more information is available (via telephone:
+1-614-764-6000 or
1-800-848-5878; fax:  +1-614-764-6096; or e-mail:  oclc@oclc.org).

In Europe, the Middle East and Africa, contact the OCLC Europe office,
located in Birmingham, United Kingdom (phone:  +44 121 456 4656; fax:  +44
121 456 4680; or e-mail:  europe@oclc.org).

In Asia and the Pacific region, contact the OCLC Asia Pacific office in
Dublin, Ohio (phone:  +1-614-764-6189; fax:  +1-614-764-4331; or e-mail:
asia_pacific@oclc.org).

In Canada, contact the OCLC Canada office in Montreal, Quebec (phone:
+1-450-658-6583 or 1-888-658-6583; fax:  +1-450-658-6231; or e-mail:
canada@oclc.org).

In Latin America and the Caribbean, contact the OCLC Latin America and the
Caribbean office in Dublin, Ohio (phone:  +1-614-761-5196; fax:
+1-614-718-1026; or e-mail:  america_latina@oclc.org).

More information about OCLC and OCLC regional service providers is
available
at <http://www.oclc.org/>.

About netLibrary

netLibrary <<www.netLibrary.com>> is the leading provider of eBooks and
Internet-based content management services for the institutional library
market.  netLibrary develops, archives, hosts, and maintains eBook
collections for academic, corporate, public, and school libraries.
Thousands of libraries throughout the United States and internationally
are currently providing netLibrary eBooks to their patrons.  The MetaText
Division <www.MetaText.com <http://www.metatext.com/>> of netLibrary
creates, hosts and manages web-based digital textbooks for leading
textbook publishers.  MetaText digital textbooks provide instructors and
students with a full range of interactive teaching, collaborating and
learning tools.

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