Wayne, Pa. - July 31, 2008 - Internet Capital Group, Inc. (NASDAQ: ICGE) today announced that its Board of Directors has authorized the Company to implement a share repurchase program pursuant to which ICG may repurchase up to $20 million of its outstanding shares of common stock.

“This repurchase program highlights our confidence in ICG’s long-term growth potential, and underscores our commitment to enhancing stockholder value” said Walter Buckley, ICG’s chairman and CEO. “We are pleased to have the financial flexibility to opportunistically allocate our capital to this share repurchase program while maintaining our focus on acquiring and building leading on-demand software and services companies.”

Share repurchases under this program will be made from time to time in the open market, in privately negotiated transactions or pursuant to trading plans meeting the requirements of Rule 10b5-1 of the Securities Exchange Act of 1934. The timing and actual number of shares repurchased will depend on a variety of factors, including price, regulatory restrictions, market conditions and corporate liquidity requirements.