ICG Announces Closing of Merger of StarCite with OnVantage

Internet Capital Group, Inc. today announced that the merger of its partner company, StarCite, Inc., and OnVantage, Inc. was consummated on December 29, 2006. This transaction was structured as a consolidation of equals, resulting in the formation of the largest on-demand meetings management company in the global marketplace for meetings and events. ICG owns approximately 26 percent of the combined company.

The combined company processed, on a pro forma basis, over 2.5 million attendee registrations on behalf of companies in fiscal year 2006, an annual increase of 50% over 2005. Pro forma revenues for the combined company are growing at an annual rate of over 40%, excluding any necessary adjustments for purchase accounting.

The resulting company, operating under the StarCite name, is based in Philadelphia. Under the direction of its CEO, Mike Boult, the combined company offers a global solution that drives savings and control for clients by automating the complex workflow process inherent in meetings management.

About Internet Capital Group

Internet Capital Group (www.internetcapital.com) owns and builds Internet software 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 on-demand software and service applications to customers worldwide.

About StarCite

StarCite, Inc. is the leading provider of On Demand Global Meeting Solutions(TM). StarCite optimizes global investments in corporate meetings and events, delivering visibility, savings and control. StarCite provides process efficiency, enabling technology and proven adoption management support to drive significant cost reduction to buyers and enhanced revenues to suppliers. StarCite is based in Philadelphia. Investors in StarCite include Internet Capital Group (NASDAQ:ICGE - News), Texas Pacific Group, Norwest Venture Partners (NVP), Maritz Travel Company, Seaport Capital, and TL Ventures. For more information about StarCite or its technologies and services, please visit www.starcite.com

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 partner companies, the effect of economic conditions generally, capital spending by customers and 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.

Source: Internet Capital Group, Inc.