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The Cobalt Group Commences Public Offering of 4,500,000 Shares

9 July 1999

The Cobalt Group Commences Public Offering of 4,500,000 Shares

    SEATTLE--July 9, 1999--The Cobalt Group, Inc. announced today that it has filed an amendment to its Registration Statement on Form S-1 with respect to a proposed public offering of 4,500,000 shares of The Cobalt Group common stock.
    All 4,500,000 shares are being offered by The Cobalt Group. The offering will be managed by BancBoston Robertson Stephens, Inc., Bear, Stearns & Co. Inc., SG Cowen Securities Corporation and Wit Capital Corporation.
    The Cobalt Group provides Internet marketing and data aggregation services to individual automobile dealerships, multi-franchise dealer groups and automobile manufacturers. The Cobalt Group's services include comprehensive Web site design, development and maintenance, data extraction and aggregation, Internet advertising and promotions and training and support. Cobalt is the manufacturer-endorsed provider of dealer Web sites for 11 U.S. dealership manufacturer networks and its clients include over 50 of the 100 largest dealer groups in the United States. In total, Cobalt provides services to clients holding approximately 12,000 new vehicle franchises.
    Copies of the preliminary prospectus relating to the offering may be obtained when available by contacting BancBoston Robertson Stephens, Inc. in writing at 555 California St. Suite 2600, San Francisco, CA 94104, or calling toll free 800-288-7726.
    A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. The securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state.