Media Relations

PeoplePC Announces Initial Public Offering

8/16/2000 8:06:00 AM

SAN FRANCISCO--(BUSINESS WIRE)--Aug. 16, 2000--PeoplePC Inc. (Nasdaq: PEOP) today announced its initial public offering of 8,500,000 shares of its common stock at a price of $10 per share.

All 8,500,000 shares offered are being sold by PeoplePC. The managing underwriters of the offering are Chase H&Q, Robertson Stephens, J.P. Morgan & Co. and Prudential Volpe. PeoplePC has granted the underwriters a 30-day option to purchase up to 1,275,000 additional shares to cover over-allotments, if any.

A copy of the prospectus relating to the offering may be obtained from Chase H&Q, Prospectus Department, Attn: One Bush Street, San Francisco, CA, 94104, Phone: 415/439-3423.

About PeoplePC

PeoplePC offers an affordable and convenient membership package that includes a new brand-name computer system, unlimited Internet access, customer support and, for most members, in-home technical services and an online buying community.

CONTACT: PeoplePC Inc

Kelly Shaughnessy, 415/901-6731 (Investor/Financial)
kelly.shaughnessy@peoplepchq.com
Stacy Katz, 415/732-4422 (Media)
jpaperman@peoplepchq.com