New Century Equity Holdings Corp. Announces Participation in Private Financing For Princeton eCom

Princeton eCom Completes $20 Million Financing



Apr 16, 2001, 01:00 ET from New Century Equity Holdings Corp.

    SAN ANTONIO, April 16 /PRNewswire/ --
 New Century Equity Holdings Corp. (Nasdaq:   NCEH) today announced its
 participation in a $20 million private convertible debt financing for
 Princeton eCom, the first company to present a bill online.  New Century
 Equity Holdings Corp. (New Century), the initial preferred stock investor in
 Princeton eCom, contributed $15 million of the $20 million financing, bringing
 the Company's cumulative investment in Princeton eCom to $66 million.
     Mellon Ventures, the private equity partnership of Mellon Financial
 Corporation (NYSE:   MEL), also participated by contributing $5 million of the
 $20 million financing.  Both New Century and Mellon Financial participated in
 Princeton eCom's previous round of funding completed in August 2000.
     "This is a very significant financing for New Century and emphasizes our
 continued support of Princeton eCom," said Parris H. Holmes, Jr., Chairman and
 CEO of New Century Equity Holdings Corp.  "Our leadership in this financing,
 during a tentative business and financing environment, further validates our
 belief in Princeton's strong business plan.  In addition, the financial
 market's revaluing of equities, benefits New Century through increased
 ownership in Princeton."
     "Since September of 1998, we have played a key role in the development of
 Princeton as it has built a leadership position in the electronic bill
 presentment and payment industry," Mr. Holmes added.  "This financing allows
 Princeton to continue on its solid growth pattern and take advantage of
 potential strategic business opportunities.  We are impressed with Princeton's
 excellent management team, its ability to implement new customers and expand
 its revenue base as well as its sense of urgency to execute on its business
 plan."
     New Century purchased $15 million aggregate principal amount of
 convertible promissory notes in the $20 million financing.  It is expected
 that the $20 million of convertible debt will convert into preferred stock at
 a rate to be determined in the future based on certain events.  In addition to
 the convertible debt, New Century also received warrants to purchase shares of
 Princeton eCom's Convertible Preferred Stock.
 
     About New Century Equity Holdings Corp.
     New Century Equity Holdings Corp. (Nasdaq:   NCEH) is a holding company
 focused on high growth, technology-based companies and investments.  The
 Company's holdings include its wholly owned operation, FIData, Inc., and its
 investments in Coreintellect, Inc. and Princeton eCom Corporation.  FIData
 (www.fidata.com) provides instant online loan approval products and services
 to the financial services industry.  New Century Equity Holdings Corp.
 (www.newcenturyequity.com) is the lead investor in both Coreintellect
 (www.coreintellect.com), a developer and marketer of Internet-based solutions
 that acquire, filter and disseminate business-critical knowledge and
 information, and Princeton eCom (www.princetonecom.com), a leading application
 service provider for electronic and Internet bill presentment and payment
 solutions.  New Century Equity Holdings Corp. is headquartered in San Antonio,
 Texas.
 
     About Princeton eCom
     Princeton eCom, the first company to present a bill on the Internet, is a
 leading provider of electronic billing and payment services to more than
 900 corporations, banks, financial institutions and payment partners including
 Ameritech, GMAC Mortgage, United Technologies, UPS Capital, Mellon Global Cash
 Management, Verizon Wireless, Cellular One, Corillian, S1, FiServ, and Jack
 Henry.
     Through strategic alliances with banks, credit unions, home banking
 software providers, networks like MasterCard RPPS, and web portals, Princeton
 eCom has built a comprehensive bill distribution network.
     Princeton eCom enables businesses to present their consumers' bills and
 their business invoices on the Internet and it provides consumers and
 businesses with the ability to access and pay those bills online, over the
 phone, or using a wireless digital device.  It also provides electronic
 payment processing services to banks, credit unions, and other financial
 institutions.  Princeton eCom's range of services includes electronic lockbox,
 electronic collection, and electronic credit card balance transfer services as
 well as customer care and customer service programs.
     Princeton eCom is a privately held company.  Major investors include New
 Century Equity Holdings Corp. (Nasdaq:   NCEH), Mellon Ventures, the private
 equity partnership of Mellon Financial Corporation (NYSE:   MEL), SG Capital
 Partners LLC, the U.S. merchant banking affiliate of Societe Generale,
 Bottomline Technologies, Terra Lycos Ventures L.P., a venture capital fund
 affiliated with Terra Lycos, Inc., and BT Investment Partners, Inc.
     Certain statements contained herein are "forward-looking" statements (as
 such term is defined in the Private Securities Litigation Reform Act of 1995).
 Because such statements include risks and uncertainties, actual results may
 differ materially from those expressed or implied by such forward-looking
 statements.  Factors that could cause results to differ materially from those
 expressed or implied by such forward-looking statements include, but are not
 limited to, those discussed in filings made by the Company with the Securities
 and Exchange Commission.
 
      For Information Contact:
      Kevin Nyland, Vice President, Investor Relations
      210.302-0402
      kevin.nyland@newcenturyequity.com
 
      David P. Tusa, Senior Vice President and Chief Financial Officer
      210.302-0410
      david.tusa@newcenturyequity.com
 
 

SOURCE New Century Equity Holdings Corp.
    SAN ANTONIO, April 16 /PRNewswire/ --
 New Century Equity Holdings Corp. (Nasdaq:   NCEH) today announced its
 participation in a $20 million private convertible debt financing for
 Princeton eCom, the first company to present a bill online.  New Century
 Equity Holdings Corp. (New Century), the initial preferred stock investor in
 Princeton eCom, contributed $15 million of the $20 million financing, bringing
 the Company's cumulative investment in Princeton eCom to $66 million.
     Mellon Ventures, the private equity partnership of Mellon Financial
 Corporation (NYSE:   MEL), also participated by contributing $5 million of the
 $20 million financing.  Both New Century and Mellon Financial participated in
 Princeton eCom's previous round of funding completed in August 2000.
     "This is a very significant financing for New Century and emphasizes our
 continued support of Princeton eCom," said Parris H. Holmes, Jr., Chairman and
 CEO of New Century Equity Holdings Corp.  "Our leadership in this financing,
 during a tentative business and financing environment, further validates our
 belief in Princeton's strong business plan.  In addition, the financial
 market's revaluing of equities, benefits New Century through increased
 ownership in Princeton."
     "Since September of 1998, we have played a key role in the development of
 Princeton as it has built a leadership position in the electronic bill
 presentment and payment industry," Mr. Holmes added.  "This financing allows
 Princeton to continue on its solid growth pattern and take advantage of
 potential strategic business opportunities.  We are impressed with Princeton's
 excellent management team, its ability to implement new customers and expand
 its revenue base as well as its sense of urgency to execute on its business
 plan."
     New Century purchased $15 million aggregate principal amount of
 convertible promissory notes in the $20 million financing.  It is expected
 that the $20 million of convertible debt will convert into preferred stock at
 a rate to be determined in the future based on certain events.  In addition to
 the convertible debt, New Century also received warrants to purchase shares of
 Princeton eCom's Convertible Preferred Stock.
 
     About New Century Equity Holdings Corp.
     New Century Equity Holdings Corp. (Nasdaq:   NCEH) is a holding company
 focused on high growth, technology-based companies and investments.  The
 Company's holdings include its wholly owned operation, FIData, Inc., and its
 investments in Coreintellect, Inc. and Princeton eCom Corporation.  FIData
 (www.fidata.com) provides instant online loan approval products and services
 to the financial services industry.  New Century Equity Holdings Corp.
 (www.newcenturyequity.com) is the lead investor in both Coreintellect
 (www.coreintellect.com), a developer and marketer of Internet-based solutions
 that acquire, filter and disseminate business-critical knowledge and
 information, and Princeton eCom (www.princetonecom.com), a leading application
 service provider for electronic and Internet bill presentment and payment
 solutions.  New Century Equity Holdings Corp. is headquartered in San Antonio,
 Texas.
 
     About Princeton eCom
     Princeton eCom, the first company to present a bill on the Internet, is a
 leading provider of electronic billing and payment services to more than
 900 corporations, banks, financial institutions and payment partners including
 Ameritech, GMAC Mortgage, United Technologies, UPS Capital, Mellon Global Cash
 Management, Verizon Wireless, Cellular One, Corillian, S1, FiServ, and Jack
 Henry.
     Through strategic alliances with banks, credit unions, home banking
 software providers, networks like MasterCard RPPS, and web portals, Princeton
 eCom has built a comprehensive bill distribution network.
     Princeton eCom enables businesses to present their consumers' bills and
 their business invoices on the Internet and it provides consumers and
 businesses with the ability to access and pay those bills online, over the
 phone, or using a wireless digital device.  It also provides electronic
 payment processing services to banks, credit unions, and other financial
 institutions.  Princeton eCom's range of services includes electronic lockbox,
 electronic collection, and electronic credit card balance transfer services as
 well as customer care and customer service programs.
     Princeton eCom is a privately held company.  Major investors include New
 Century Equity Holdings Corp. (Nasdaq:   NCEH), Mellon Ventures, the private
 equity partnership of Mellon Financial Corporation (NYSE:   MEL), SG Capital
 Partners LLC, the U.S. merchant banking affiliate of Societe Generale,
 Bottomline Technologies, Terra Lycos Ventures L.P., a venture capital fund
 affiliated with Terra Lycos, Inc., and BT Investment Partners, Inc.
     Certain statements contained herein are "forward-looking" statements (as
 such term is defined in the Private Securities Litigation Reform Act of 1995).
 Because such statements include risks and uncertainties, actual results may
 differ materially from those expressed or implied by such forward-looking
 statements.  Factors that could cause results to differ materially from those
 expressed or implied by such forward-looking statements include, but are not
 limited to, those discussed in filings made by the Company with the Securities
 and Exchange Commission.
 
      For Information Contact:
      Kevin Nyland, Vice President, Investor Relations
      210.302-0402
      kevin.nyland@newcenturyequity.com
 
      David P. Tusa, Senior Vice President and Chief Financial Officer
      210.302-0410
      david.tusa@newcenturyequity.com
 
 SOURCE  New Century Equity Holdings Corp.

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