@Ventures Invests in Propel Biofuels, Inc.

WALTHAM, Mass.--(BUSINESS WIRE)--@Ventures^®, the venture capital business of CMGI^®, Inc. (NASDAQ: CMGI), announced today that it has made a $2.0 million investment in Propel Biofuels, Inc., a biofuels retailing and distribution company. @Ventures led the company’s $4.75 million Series A financing round, joined by co-investor Nth Power and several Seattle-based sustainable business leaders.

“Many consumers would like to reduce their dependence on fossil fuels, but currently have no choice at the pump”

Propel is working to build the “last mile” in the biofuels industry, connecting biofuels producers with consumers. In order to provide drivers with an alternative to petroleum-derived fuels, Propel builds, owns and operates public biofuels fueling sites. Propel also provides comprehensive consulting and support to large fleets seeking a transition to alternative fuels.

In conjunction with the financing, Peter Mills, Managing Director of @Ventures, has joined Propel’s board of directors. Propel announced today that Arthur Rubinfeld also will be joining the company’s board of directors. Mr. Rubinfeld was previously Executive VP at Starbucks, where he was responsible for the planning and execution of Starbucks’ retail brand design, positioning, real estate, and store growth strategies. During his 10 years with Starbucks, Mr. Rubinfeld was responsible for the company’s growth from 100 stores to more than 3,800 stores worldwide.

“Many consumers would like to reduce their dependence on fossil fuels, but currently have no choice at the pump,” said Matt Horton, a Principal with @Ventures. “Whether they are motivated by the environment, national security, or a desire to support farmers, people need access to alternative fuels in order to make a difference. We believe that Propel is addressing a critical need in the biofuels industry by making biofuels more readily available to consumers.”

About Propel Biofuels

Propel is fueling change by giving customers access to alternative fuels that are better for our environment, better for our economy and better for our energy security. Propel builds, owns and manages a network of alternative fuel locations that serve fleets and individuals seeking to reduce carbon emissions. The Seattle-based company was founded in 2004. For more information, visit www.propelbiofuels.com.

About @Ventures

@Ventures provides venture capital to early stage and mid-stage technology companies. Formed in 1995, @Ventures has funded more than 70 software, IT, Internet, and clean energy companies. The focus of @Ventures’ fifth fund, formed in 2004, is on investments in the cleantech sector, including alternative energy, energy storage and efficiency, and water purification technologies. For more information, visit www.ventures.com.

About CMGI, Inc.

CMGI, Inc. (NASDAQ: CMGI), through its subsidiary ModusLink, provides industry-leading global supply chain management services and solutions that help businesses market, sell and distribute their products around the world. In addition, CMGI’s venture capital business, @Ventures, invests in a variety of technology ventures. For additional information, visit www.cmgi.com.

This release contains forward-looking statements, which address a variety of subjects including, for example, the expected achievements by Propel Biofuels, Inc. All statements other than statements of historical fact, including without limitation, those with respect to Propel Biofuels’ goals, plans and strategies set forth herein are forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: Propel Biofuels’ success, and in turn, @Ventures’ and CMGI’s success with respect to this investment depends on Propel Biofuels’ ability to execute on its business strategy and the continued and increased demand for and market acceptance of its products and services; Our ability to earn returns on our investment, or even recover our capital, is dependent upon factors outside of our control, including the success of our portfolio companies’ businesses, and the market for initial public offerings and mergers and acquisitions. For a detailed discussion of cautionary statements that may affect CMGI's future results of operations and financial results, please refer to CMGI's filings with the Securities and Exchange Commission, including CMGI's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Forward-looking statements represent management's current expectations and are inherently uncertain. We do not undertake any obligation to update forward-looking statements made by us.

@Ventures and CMGI are registered trademark of CMGI, Inc. All other company names and products are trademarks or registered trademarks of their respective companies.