Net Value Holdings Inc. Names Paul H. Stephens to Board of Advisors Robertson Stephens Co-Founder Brings Three Decades of Wall Street Experience

To Net Value Holdings

    SAN FRANCISCO, Oct. 7 /PRNewswire/ -- Net Value Holdings Inc.
 (OTC Bulletin Board:   NETV), today announced the appointment of Paul H.
 Stephens to its Board of Advisors.  Mr. Stephens was a founder, managing
 director and chief investment officer of the former Robertson Stephens &
 Company and currently serves as a managing director of RS Investment
 Management, which was purchased from the Bank of America on February 28, 1999.
 The RS Orphan Fund, LP and The RS Orphan Offshore Fund, LP, both managed by
 Mr. Stephens, invested a total of $2 million in Net Value Holdings recently
 completed private placement offering.
     According to Andrew Panzo, President and Chief Executive Officer of Net
 Value Holdings, "We are very pleased to welcome Paul and his three decades of
 financial experience to our Board of Advisors.  His ability to identify and
 execute deals, especially in relation to technology companies, has won him as
 much respect in the Silicon Valley as it has on Wall Street.  Specifically,
 Paul's experience identifying undiscovered technology-oriented growth
 companies will be a tremendous asset to Net Value Holdings as we continue to
 expand our portfolio."
     Mr. Stephens commented, "Net Value Holdings' management team and directors
 combine an extensive array of Wall Street and Silicon Valley talent with
 leading entrepreneurs who have started, grown, and sold successful Internet
 businesses. The broad skill sets this team brings to its portfolio companies
 truly position Net Value Holdings as a new breed of 'venture catalyst.'  The
 Company's hands-on approach to its investments and commitment to taking its
 portfolio companies to the next level, make Net Value Holdings an attractive
 funding source for early-stage Internet companies."
     Following nine years in institutional sales (1969-78) with Smith Barney
 & Company and Robertson, Colman, Siebel & Weisel, Mr. Stephens joined Sandy
 Robertson to found Robertson, Colman, Stephens & Woodman in 1978.  The
 organization changed its name to Robertson Stephens & Company in 1989.
 Mr. Stephens led the firm's research and institutional sales effort in the
 late 1970's and early 1980's and then transitioned into its new business
 corporate finance department (1982-85).  He then restructured the venture
 capital group, managing it until 1990 when he formed The Robertson Stephens
 Orphan Fund, a limited partnership focused on investing globally in
 undiscovered or neglected growth companies.  In June 1993, Mr. Stephens
 launched The Contrarian Fund, a public mutual fund that also has both a global
 charter and the ability to hedge with short sales.  He holds both Bachelors
 (1967) and Masters (1969) degrees in Business Administration from the Haas
 School of Business at U.C. Berkeley.
     Mr. Stephens will serve as a strategic advisor to a Net Value Holdings'
 management team consisting of Darr Aley, former VP of Business Development at
 Lycos; Lee Hansen, former Senior Vice President of Corporate Strategy and
 Development at Bank of America; and entrepreneurs Douglas Spink and Andrew
 Panzo.  Barry Uphoff, a partner at Diamond Technology Partners, Inc. and
 Stephen George, a former Vice President at Goldman Sachs are directors of the
     Net Value Holdings Inc. is an Internet business incubator primarily
 engaged in the conception and ongoing nurturing of the next wave of e-commerce
 businesses.  Net Value Holdings' operating strategy is to develop its
 portfolio of partner companies into a collaborative network that leverages the
 Company's collective financial, strategic, and relationship capital.  Founded
 in 1998, Net Value Holdings currently holds interests in four Internet
 businesses in various stages of development and is evaluating investments in
 several other companies.  The Company has offices in San Francisco and
     For additional information on Net Value Holdings Inc., visit the Company's
 web site at .
     This release contains forward-looking statements regarding potential
 future events and developments affecting the business of Net Value Holdings
 Inc.  These forward-looking statements involve unknown risks, uncertainties,
 or other factors not under the control of Net Value Holdings Inc., which may
 cause actual results, performance or achievements of the Company to be
 materially different from the future results, performance, achievements or
 other expectations expressed or implied by these forward-looking statements.

SOURCE Net Value Holdings, Inc.

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