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Questia e-book press release

FYI.  Ann Okerson
Ann Brimberry	Questia Media, Inc.	713-358-2704

Katy Glass	Shandwick International	713-335-0256



OppenheimerFunds Leads Round as Company Reaches $135 Million in Total

HOUSTON (August 23, 2000) - Questia Media, Inc. announced today the close
of $90 million in second round financing led by OppenheimerFunds. Vaulting
the total funds raised in the last five months to $130 million, this
financing will support completion and launch in early 2001 of the Questia
service.  In the world's largest digitization project, Questia is building
the first online research service for undergraduates, featuring unlimited
access to tens of thousands of scholarly books and journals.
OppenheimerFunds' investment was made from its Emerging Technology Fund
and its Aggressive Growth Fund.  Joining OppenheimerFunds in this round
are Bulldog Capital Management, Palmetto Partners and earlier investors
including TA Associates.

"The magnitude of this investment, and the fact that it follows a $40
million financing in March, clearly signals tremendous confidence from the
investor community in Questia's business plan and the value we will bring
to the market," commented Troy Williams, founder and CEO of Questia Media.  

"Questia represents the beginning of a new era in the e-education space.
Its innovative subscription-based business model capitalizes on the value
of Questia's sizeable digital collection," said Bruce Bartlett, senior
vice president and portfolio manager of OppenheimerFunds.  "It will
provide highly valuable content to a substantial audience, and has a
first-rate management team to ensure its success. We are convinced that
Questia will be the indispensable content platform for the education
market, setting new standards for quality information and services on the

Questia continues to digitize a high volume of selected liberal arts
titles from more than 90 publishers.  Questia's research service will
include an online collection of 50,000 scholarly books and journals,
combined with a suite of tools that will make composing papers faster and
easier.  The footnotes and bibliographies of books and journals included
in the Questia collection will be hyperlinked, enabling researchers to
seamlessly move through a number of related sources.

As students increasingly use the Internet for research, Questia will
satisfy their need for high-quality, credible content.  Additionally, with
the growing prevalence of distance learning, Questia is well positioned to
be a leading provider of content to this growing area.

About Questia

Founded in 1998, Questia Media, Inc. is building the first online service
to provide unlimited access to the full text of hundreds of thousands of
books and journals, as well as tools to easily use this information.  For
millions of college students and researchers, the QuestiaSM service will
enable them to efficiently research and compose papers at any time, from
every connected corner of the world.  Based in Houston with over 240
employees, Questia is delivering on the true promise of the Internet by
providing access to a wealth of human knowledge.  Information can be found
at www.questia.com.