NetLibrary.com update

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

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 PURCHASE OF NETLIBRARY ASSETS APPROVED

DUBLIN, Ohio, Jan. 11, 2002-Subject to a 10-day appeal period, final
closing on the sale of netLibrary assets to OCLC Online Computer Library
Center has been set for later this month, based upon approval granted
today by the U.S. Bankruptcy Court for the District of Colorado.  The sale
includes both the eBook Division and the MetaText eTextbook Division of
netLibrary.

"OCLC has received very strong support and encouragement from libraries,
publishers and distribution partners since the announcement of our intent
to purchase netLibrary's assets," said Jay Jordan, president and CEO,
OCLC.  "We are excited to be in a position to continue netLibrary's
pioneering efforts.  This acquisition will further our goals of providing
libraries around the world with economical access to knowledge by
continually expanding content and integrated services."

"We are pleased to join the OCLC cooperative and to be able to add eBooks
to the impressive lists of products and services already available through
OCLC," said Rob Kaufman, president and CEO of netLibrary.  "eBooks have
proven their value in libraries around the globe, and we look forward to
working with the entire OCLC team to continue to expand their role in
supporting the research, reference and learning programs delivered through
the world's universities and libraries."

netLibrary's eBook operation will become a division of OCLC and will
continue to operate in Boulder, Colorado, serving libraries and their
users.  The digital textbook group will become a for-profit subsidiary of
OCLC and will also continue to operate in Boulder.

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 41,000 libraries in 82
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).

[SNIP]

More information about OCLC and OCLC regional service providers is
available at <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, hosts, maintains and preserves 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> 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.

Dewey, Dewey Decimal Classification, Forest Press and OCLC are registered
trademarks of OCLC.