Verticalnet Announces 1-For-8 Reverse Stock Split

  
    
  
  
    
      Verticalnet, Inc. (Nasdaq:VERT), a leading provider of on-demand supply 
      management solutions, today announced it has completed a reverse stock 
      split effective immediately.
    
    
      The Company’s Board of Directors authorized a 
      one-for-eight reverse split of its common stock, which was approved by 
      the Company's shareholders at the 2007 Annual Meeting of Shareholders on 
      August 15, 2007.
    
    
      In the reverse stock split, each eight shares of outstanding common 
      stock will be combined into and automatically become one share of common 
      stock. No fractional shares will be issued in connection with the 
      reverse stock split. Any fractional shares resulting from the reverse 
      stock split will be rounded up to the nearest whole share and no cash 
      payment will be made in respect to such rounding. All outstanding 
      options, warrants, preferred stock or other rights convertible into or 
      exercisable for shares of common stock, will be adjusted in accordance 
      with their terms and pursuant to the one-for-eight ratio.
    
    
      The Company anticipates that its common stock will begin trading on a 
      split-adjusted basis when trading opens on August 16, 2007, with the 
      interim ticker symbol "VERTD." After 20 days, the Company expects that 
      the "D" designation will be removed, and its ticker symbol will revert 
      back to "VERT." The Company's transfer agent will mail instructions to 
      all shareholders of record as of the effective date of the reverse stock 
      split, explaining the process for obtaining new post-split stock 
      certificates.
    
    
      The Company is implementing the reverse stock split in order to meet The 
      Nasdaq Capital Market's $1.00 per share minimum bid price requirement. 
      The Company anticipates that following the reverse stock split, its 
      common stock will trade at a price that is higher than the $1.00 per 
      share minimum bid price. However, there can be no assurance that 
      following the reverse stock split the Company will be able to 
      demonstrate compliance with all other requirements for continued listing 
      on The Nasdaq Capital Market, or that its common stock will remain 
      listed.
    
    
      Cautionary Statement Regarding Forward-Looking Information
    
    
      This announcement contains forward-looking information that involves 
      risks and uncertainties. Such information includes statements about the 
      pending reverse stock split, the ability to maintain the listing of the 
      Company’s common stock on The Nasdaq Capital 
      Market and the ability to satisfy the $1.00 per share minimum bid price 
      requirement set forth in Nasdaq Marketplace Rule 4310(c) if a reverse 
      stock split is effected, as well as statements that are preceded by, 
      followed by or include the words “expects” 
      and “anticipates,” 
      or similar expressions. For such statements, Verticalnet claims the 
      protection of the safe harbor for forward-looking statements contained 
      in the Private Securities Litigation Reform Act of 1995. Factors that 
      could cause actual results to differ from those contained in the 
      forward-looking statements include, but are not limited to, those 
      factors set forth in the Annual Report on Form 10-K for the year ended 
      December 31, 2006 and the Quarterly Reports on Form 10-Q for the for 
      quarterly periods ended March 31, 2007 and June 30, 2007, which have 
      been filed with the SEC. Verticalnet is making these statements as of 
      August 15, 2007 and assumes no obligation to publicly update or revise 
      any of the forward-looking information in this announcement.
    
    
      To learn more, please visit us at www.verticalnet.com.
    
    
      Verticalnet is a registered trademark or a trademark in the United 
      States and other countries of Vert Tech LLC