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Wayne, PA – February 14, 2008 – Internet Capital Group, Inc. (Nasdaq: ICGE) today reported its results for the fourth quarter and fiscal year ended December 31, 2007.

“2007 was an important year of progress for our core partner companies, and we are very pleased with the aggregate revenue growth this group reported,” said Walter Buckley, ICG’s Chief Executive Officer. “The strong performance demonstrated by our core companies is a direct result of their execution, new product and services offerings and proven savings to customers. ICG helped build these companies by enhancing management teams at Freeborders, ICG Commerce, StarCite and WhiteFence and facilitating important M&A activity, such as the Metastorm acquisition of ProForma. We believe our collective efforts to build market leaders will increase shareholder value.”

ICG Financial Results

ICG’s financial statements reflect the consolidated results of two partner companies, ICG Commerce and Investor Force, for the three months and full fiscal year ended December 31, 2007, versus the results of three partner companies, ICG Commerce, Investor Force and StarCite, for the three months and full fiscal year ended December 31, 2006.

ICG reported consolidated revenue of $14.1 million for the fourth quarter of 2007, versus $17.0 million for the comparable 2006 period. ICG reported consolidated revenue of $52.9 million for the fiscal year ended December 31, 2007, versus $64.7 million for the comparable 2006 period.

ICG reported a net loss of ($3.0) million, or $(0.08) per diluted share, for the fourth quarter of 2007, versus net income of $14.9 million, or $0.37 per diluted share, for the comparable 2006 period. ICG reported a consolidated net loss of ($30.6) million, or ($0.81) per diluted share, for the full fiscal year 2007, versus net income of $15.6 million, or $0.41 per diluted share, for the full comparable 2006 period.

As of December 31, 2007, ICG’s corporate cash balance was $69.1 million and the value of its holdings in Blackboard (Nasdaq: BBBB) was $84.3 million, net of $3.7 million in hedge positions. The value of its holdings in GoIndustry (LSE.AIM: GOI) at December 31, 2007 was $18.2 million.

Online versions of Q4 and Year End Release Earnings (PDF):

• Internet Capital Group - Consolidated Statements of Operations
• Internet Capital Group - Condensed Consolidated Balance Sheets
• Internet Capital Group - 2007 Pro Forma Core Partner Company Information
• Internet Capital Group - Supplemental Information - Description of Terms

ICG Core Partner Company Information

Set forth below is pro forma information relating to the following eight core companies: Channel Intelligence, Freeborders, ICG Commerce, Investor Force, Metastorm, StarCite, Vcommerce and WhiteFence. Our ownership positions in these eight companies ranged from 26% to 80% and averaged 45% at December 31, 2007. Please refer to the supplemental financial data at the end of this release for a reconciliation of such amounts to the GAAP results.

In the fourth quarter of 2007, aggregate pro forma revenue of ICG’s eight private core companies grew 30% year-over-year, to $62.1 million from $47.7 million in the fourth quarter of 2006. Aggregate pro forma EBITDA (loss) for the core companies was $(7.7) million in the fourth quarter of 2007, versus $(8.6) million in the fourth quarter of 2006.

In 2007, annual aggregate pro forma revenue of ICG’s eight core companies grew 31% year-over-year, to $232.1 million from $176.6 million in 2006. Annual aggregate pro forma EBITDA (loss) for the core companies improved 39% to $(19.0) million in 2007 from $(30.9) million in 2006.

“As we look out to 2008, we plan to grow aggregate revenues of our core companies by at least 25%, improve EBITDA performance, deploy capital in new and existing partner companies and strategically monetize assets,” said Kirk Morgan, ICG’s Chief Financial Officer. “Above all, we will continue to work aggressively to build long-term shareholder value.”

ICG will host a webcast at 10:00 a.m. ET today to discuss its financial results. As part of the live webcast for this call, ICG will post a slide presentation to accompany the prepared remarks. To access the webcast, go to http://www.internetcapital.com/investorinfo-preswebcast.htm and click on the link for the fourth quarter conference call webcast. Please log on to the website approximately ten minutes prior to the call to register and download and install any necessary audio software. The conference call is also accessible through listen-only mode at 877-407-8035. The international dial-in number is 201-689-8035.

For those unable to participate in the conference call, a replay will be available from February 14, 2008 at 11:00 a.m. ET until February 21, 2008 at 11:59 p.m. ET. To access the replay, dial 877-660-6853 (domestic) or 201-612-7415 (international) and enter the account code 286, followed by the conference ID number 229385. The replay and slide presentation also can be accessed on the Internet Capital Group web site at http://www.internetcapital.com/investorinfo-preswebcast.htm.

About Internet Capital Group
Internet Capital Group (www.internetcapital.com) acquires and builds Internet software and services companies that drive business productivity and reduce transaction costs between firms. Founded in 1996, ICG devotes its expertise and capital to maximizing the success of these platform companies, which are delivering software and service applications to customers worldwide.

Safe Harbor Statement under Private Securities Litigation Reform Act of 1995
The statements contained in this press release that are not historical facts are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future performance of our partner companies, acquisitions or dispositions of interests in additional partner companies, the effect of economic conditions generally, capital spending by customers, the development of the e-commerce and information technology markets, and uncertainties detailed in the Company’s filings with the Securities and Exchange Commission. These and other factors may cause actual results to differ materially from those projected.

Contact:
Investor inquiries
Karen Greene
Internet Capital Group
610.727.6900
ir@internetcapital.com

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