WEBM Webmediabrands (MM)

WebMediaBrands Inc. (Nasdaq: WEBM), an Internet media company concentrating on BtoB communities, today reported results for the quarter and full year ended December 31, 2008. Formerly known as Jupitermedia Corporation, these results include information related to both WebMediaBrands�s remaining online media business and Jupiterimages (the online images business that was sold on February 23, 2009). See the Segment Information section of this release for detail on each reporting segment. Jupiterimages will be accounted for as a discontinued operation commencing in the first quarter of 2009, and our continuing operations will be comprised solely of our online media business.

Revenues for the fourth quarter of 2008 were $27.8 million compared to revenues of $36.1 million for the same period in 2007. Net loss was $49.7 million, or $1.38 per diluted share for the fourth quarter of 2008, and included (i) non-cash stock-based compensation expense, legal and other fees related to the recently completed sale of Jupiterimages and the establishment of a valuation allowance on certain deferred tax assets, which totaled $0.23 per diluted share and (ii) non-cash impairment charges of $41.1 million, or $1.14 per diluted share, related to the write-down of goodwill and intangible assets.

Revenues were $128.4 million for 2008 compared to revenues of $140.3 million for 2007. Net loss was $116.7�million, or $3.24 per diluted share, for the full year of 2008 and included (i) non-cash stock-based compensation expense, legal and other fees related to the recently completed sale of Jupiterimages and the establishment of a valuation allowance on certain deferred tax assets, which totaled $0.83 per diluted share and (ii) non-cash impairment charges of $81.1 million, or $2.26 per diluted share, related to the write-down of goodwill and intangible assets.

4th Quarter 2008 Financial Results Conference Call Alert

WebMediaBrands Inc. invites you to participate in its conference call reviewing 2008 fourth quarter and full year results on Monday, March 30, 2009 at 5:00 pm EST.

The conference call number is 888-713-3587 for domestic participants and 913-312-0680 for international participants; pass code "694 8588." Please call five minutes in advance to ensure that you are connected prior to the presentation. The conference call replay will be available until Monday, April 13, 2009. Replay call numbers are 888-203-1112 for domestic participants and 719-457-0820 for international participants: confirmation code: "694 8588."

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WebMediaBrands Inc.

Consolidated Condensed Statements of Operations

For the Three Months and Year Ended December 31, 2007 and 2008

(in thousands, except per share amounts)

� Three Months EndedDecember 31, Year EndedDecember 31, 2007 � 2008 2007 � 2008 Revenues $ 36,128 $ 27,807 $ 140,334 $ 128,394 Cost of revenues (exclusive of items shown separately below) 15,337 13,351 59,162 58,460 Advertising, promotion and selling 7,617 6,781 29,151 29,051 General and administrative 6,575 7,729 27,796 30,400 Depreciation 1,094 1,362 4,447 5,093 Amortization 3,553 4,235 13,222 16,072 Impairment of goodwill and intangible assets � 87,186 � � 41,108 � � 87,186 � � 81,108 � Total operating expenses � 121,362 � � 74,566 � � 220,964 � � 220,184 � � Operating loss (85,234 ) (46,759 ) (80,630 ) (91,790 ) Other income, net 475 734 103 676 Interest income 44 155 184 331 Interest expense � (1,914 ) � (1,954 ) � (7,146 ) � (7,152 ) Loss before income taxes and minority interests (86,629 ) (47,824 ) (87,489 ) (97,935 ) Provision (benefit) for income taxes (5,165 ) 1,903 (5,278 ) 18,724 Minority interests � 45 � � 64 � � (64 ) � (22 ) � Net Loss $ (81,419 ) $ (49,663 ) $ (82,275 ) $ (116,681 ) � Loss per share: Basic net loss $ (2.26 ) $ (1.38 ) $ (2.29 ) $ (3.24 ) Diluted net loss $ (2.26 ) $ (1.38 ) $ (2.29 ) $ (3.24 ) � Shares used in computing loss per share: Basic � 35,950 � � 35,967 � � 35,880 � � 35,967 � Diluted � 35,950 � � 35,967 � � 35,880 � � 35,967 �

Segment Information

The following tables summarize the results of the segments of WebMediaBrands for the three months and years ended December 31, 2007 and 2008. Online media includes the internet.com, Mediabistro.com and Graphics.com Networks. Online images consists of the Jupiterimages business. Other includes corporate overhead, depreciation and amortization.

� � (in thousands) Three Months EndedDecember 31, Year Ended December 31, 2007 � 2008 2007 � 2008 Revenues: Online images $ 26,783 $ 20,564 $ 108,904 $ 96,263 Online media 9,345 7,243 31,430 32,131 Other � � � � � � � � � � � � � 36,128 � � 27,807 � � 140,334 � � 128,394 � Cost of revenues and operating expenses:(A) Online images 18,646 16,837 74,091 71,129 Online media 7,155 7,632 23,950 28,914 Depreciation and amortization 4,647 5,597 17,669 21,165 Impairment of goodwill and intangible assets 87,186 41,108 87,186 81,108 Other (B) � 3,728 � � 3,392 � � 18,068 � � 17,868 � � 121,362 � � 74,566 � � 220,964 � � 220,184 � Operating income (loss): Online images 8,137 3,727 34,813 25,134 Online media 2,190 (389 ) 7,480 3,217 Impairment of goodwill and intangible assets (87,186 ) (41,108 ) (87,186 ) (81,108 ) Other (B) (C) � (8,375 ) � (8,989 ) � (35,737 ) � (39,033 ) $ (85,234 ) $ (46,759 ) $ (80,630 ) $ (91,790 ) (A) � Cost of revenues and operating expenses include non-cash, stock-based compensation expense of $655,000 and $3.0 million, respectively, for the three months and year ended December 31, 2007, and $673,000 and $4.6 million, respectively, for the three months and year ended December 31, 2008. � (B) The year ended December 31, 2007 includes $1.9 million in legal and other fees associated with discussions with Getty Images, Inc. regarding a potential transaction which was terminated on March 7, 2007. The year ended December 31, 2008 includes $1.4 million of legal and accounting fees related to the recently completed sale of Jupiterimages. The year ended December 31, 2008 also includes approximately $700,000 of one-time expenses for accounting and other professional fees related to the non-cash impairment charge and restatement in the fourth quarter of 2007. � (C) Includes depreciation and amortization expense. � � � � �

WebMediaBrands Inc.

Consolidated Condensed Balance Sheet

December 31, 2007 and December 31, 2008

(in thousands, except share and per share amounts)

� December 31,2007 December 31,2008 ASSETS Current assets: Cash and cash equivalents $ 7,301 $ 3,755 Accounts receivable, net of allowances of $2,026 and $2,305, respectively 25,689 18,939 Prepaid expenses and other current assets 5,797 5,468 Deferred income taxes � 1,441 � 496 � Total current assets 40,228 28,658 Property and equipment, net 13,022 14,333 Intangible assets, net 74,002 54,896 Goodwill 139,813 63,444 Deferred income taxes 13,049 � Investments and other assets � 2,575 � 2,762 � Total assets $ 282,689 $ 164,093 � LIABILITIES AND STOCKHOLDERS� EQUITY Current liabilities: Accounts payable $ 7,153 $ 6,889 Accrued payroll and related expenses 3,383 3,440 Accrued expenses and other current liabilities 11,822 11,224 Current portion of long-term debt 750 81,213 Deferred revenues � 15,121 � 14,585 � Total current liabilities 38,229 117,351 Long-term debt 83,375 � Deferred revenues 507 290 Deferred income taxes � 3,812 Other long-term liabilities � 3,586 � 7,764 � Total liabilities � 125,697 � 129,217 � Commitments and contingencies Stockholders� equity:

Preferred stock, $.01 par value, 4,000,000 shares authorized, no sharesissued and outstanding

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Common stock, $.01 par value, 75,000,000 shares authorized, 36,029,651and 36,032,152 shares issued at December 31, 2007 and 2008, respectively

360 360 Additional paid-in capital 266,858 273,324 Accumulated deficit (117,798 ) (234,479 ) Treasury stock, 65,000 shares, at cost (106 ) (106 ) Accumulated other comprehensive income (loss) � 7,678 � (4,223 ) � Total stockholders� equity � 156,992 � 34,876 � Total liabilities and stockholders� equity $ 282,689 $ 164,093 � �

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WebMediaBrands Inc.

Consolidated Statements of Cash Flows

For the Years Ended December�31, 2007 and 2008

(in thousands)

� Year Ended December 31, 2007 2008 Cash flows from operating activities: Net loss $ (82,275 ) $ (116,681 ) Adjustments to reconcile net loss to net cash provided by operating activities: Impairment of goodwill and intangible assets 87,186 81,108 Depreciation and amortization 17,669 21,165 Stock-based compensation 3,019 4,646 Provision (benefit) for losses on accounts receivable (310 ) 470 Minority interests 64 22 Other (income) loss, net 835 (8 ) Amortization of debt issue costs 253 208 Loss on extinguishment of debt 401 � Deferred income taxes (7,598 ) 16,839 Excess tax benefit from stock-based compensation (1,129 ) (1,813 ) Changes in current assets and liabilities (net of businesses acquired): Accounts receivable, net 934 4,903 Prepaid expenses and other assets (518 ) 2,390 Accounts payable and other accrued expenses (3,496 ) (1,334 ) Deferred revenues � 991 � (429 ) Net cash provided by operating activities � 16,026 � 11,486 � Cash flows from investing activities: Purchases of property and equipment (5,168 ) (6,274 ) Acquisitions of businesses, images and other (30,813 ) (5,725 ) Proceeds from sale of assets and other � 133 � 40 Net cash used in investing activities � (35,848 ) � (11,959 ) � Cash flows from financing activities: Borrowings under credit facilities 94,900 3,900 Debt issuance costs (1,790 ) (483 ) Repayment of borrowings under credit facilities (76,674 ) (6,813 ) Proceeds from exercise of stock options 1,179 7 Excess tax benefit from stock-based compensation � 1,129 � 1,813 Net cash provided by (used in) financing activities � 18,744 � (1,576 ) � Effect of exchange rates on cash � (512 ) � (1,497 ) � Net decrease in cash and cash equivalents (1,590 ) (3,546 ) Cash and cash equivalents, beginning of year � 8,891 � 7,301 � Cash and cash equivalents, end of year $ 7,301 $ 3,755 � Supplemental disclosures of cash flow: Cash paid for (refund of) income taxes, net $ 1,139 $ (1,026 ) Cash paid for interest $ 6,859 $ 7,008 Non-cash investing activities: Accrual of acquisitions of long-lived assets $ 716 $ 372 Accrual of purchase obligation $ � $ 61

About WebMediaBrands Inc.

WebMediaBrands Inc. (Nasdaq: WEBM, www.webmediabrands.com), headquartered in Darien, CT, is an Internet media company concentrating on BtoB communities. WebMediaBrands has three online communities: Internet.com for IT managers and Web developers; Mediabistro.com for media professionals and Graphics.com for design and creative professionals. All three communities offer job boards, marketplaces, online education offerings and events.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release which are not historical facts are "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The potential risks and uncertainties address a variety of subjects. For a more detailed discussion of such risks and uncertainties, refer to WebMediaBrands� reports filed with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934. The forward-looking statements included herein are made as of the date of this press release, and WebMediaBrands assumes no obligation to update the forward-looking statements after the date hereof.

All current WebMediaBrands press releases can be found online at www.webmediabrands.com/corporate/press.html .