Levy and Levy, P.C. Announces Class Action Filed Against Autoweb.com, Inc.

    NEW YORK, May 14 A class action lawsuit was filed in the
United States District Court for the Southern District of New York on behalf
of all purchasers of the common stock of Autoweb.com, Inc. from
March 23, 1999, through December 6, 2000, inclusive (the "Class Period").
    The complaint charges Autoweb and certain of its officers and directors
with issuing false and misleading statements concerning its business and
financial condition.  Specifically, the complaint alleges that on or about
March 23, 1999, Autoweb commenced an initial public offering of 5,000,000 of
its shares of common stock at an offering price of $14 per share.  In
connection therewith, Autoweb filed a Registration Statement, which
incorporated a Prospectus, with the SEC, and it is alleged that the Prospectus
was materially false and misleading because it failed to disclose, among other
things, that: (i) Credit Suisse, BancBoston and Bear Stearns, had solicited
and received excessive and undisclosed commissions from certain investors in
exchange for which Credit Suisse, BancBoston and Bear Stearns allocated to
those investors material portions of the restricted number of Autoweb shares
issued in connection with the Autoweb IPO; and (ii) Credit Suisse, BancBoston
and Bear Stearns had entered into agreements with customers whereby Credit
Suisse, BancBoston and Bear Stearns agreed to allocate Autoweb shares to those
customers in the Autoweb IPO in exchange for which the customers agreed to
purchase additional Autoweb shares in the aftermarket at pre-determined
prices.  As alleged in the complaint, the SEC is investigating underwriting
practices in connection with several other initial public offerings.
    No class has yet been certified in this action, and until a class is
certified an investor is not represented.  If you purchased Autoweb securities
during the Class Period, you have the right to be represented by counsel and
to participate in this action as a plaintiff.
    If you purchased securities of Autoweb during the Class Period, and wish
to participate in this action and sign up online, please visit our web site at
http://www.levylawfirm.com.  If you would like to discuss your legal rights and
interests please contact our offices.

    CONTACT:
    Levy and Levy, P.C.
    Stephen G. Levy, Esq.
    245 Park Avenue, 39th Floor, New York, NY 10167; and
    Two Sound View Drive, Greenwich, CT 06830
    866-338-3674 (toll free), 212-792-4343, or 203-622-7664
    Or by e-mail at LLNYCT@aol.com