Wayne, Pa. - February 13, 2007 - Internet Capital Group, Inc. (Nasdaq:ICGE - News) today announced that it has retired all of its outstanding 5% convertible notes. The notes were due to mature in April 2009 and were convertible into shares of ICG Common Stock at a price of $9.108 per share. Pursuant to agreements with the remaining holders of the notes, ICG repurchased $26.6 million face amount of notes for approximately $37.1 million, plus accrued interest. By repurchasing the notes, ICG removed the future dilutive effect of the approximately 2.9 million shares of Common Stock into which the notes could have been converted. Additionally, the elimination of restrictive covenants related to the notes provides ICG with greater flexibility with respect to potential uses of its capital.

"We are very pleased to report that, for the first time since 1999, ICG is free of debt," said Walter Buckley, ICG's chairman and CEO. "Through the prudent use of our capital, we have removed the burden of debt from our balance sheet. As we execute on our strategy to acquire and build leading on-demand companies, we will continue to evaluate the best use of our capital, as it relates to the creation of stockholder value, without debt-imposed restrictions."