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                                                                    EXHIBIT 99.2



FOR IMMEDIATE RELEASE


                                 CONTACT INFORMATION
Investor Relations                  Media Relations
Muriel Lange                        Nyssa Tussing
Director of Investor Relations      Vice President, Corporate Communications
215-315-3367                        215-315-3710
Mlange@verticalnet.com              ntussing@verticalnet.com


 VERTICALNET DEFINES STRATEGY TO FOCUS ON CREATION OF PRIVATE MARKETPLACES THAT
                      CONNECT TO ENABLED SUPPLIER NETWORKS


              UNIFIED ORGANIZATION POISED TO SOLVE B2B E-COMMERCE'S
                         MOST CRITICAL UNSOLVED DILEMMA

HORSHAM, PA - April 26, 2001 - VerticalNet, Inc. (Nasdaq: VERT), the Internet's
leading e-business enabler, today laid out its strategic roadmap for becoming a
leader in the creation of private marketplaces that connect large buyers to
networks of enabled suppliers. This coincides with the Company's announcement
today of a new strategic agreement with Microsoft that directs significant
resources towards the development of an enhanced set of VerticalNet's supplier
enablement product offerings, along with a marketing development fund designed
to create broad based support for VerticalNet's software solutions in the
marketplace. In an action designed to keep the Company and its resources
efficiently focused on attaining this vision, effective today, VerticalNet
consolidated its two divisions into a single operating unit and made key
management appointments to support the Company's future direction.


"Over the last five years, VerticalNet has developed a set of powerful
technologies that have laid the foundation for our current vision," stated Mike
Hagan, President and CEO of VerticalNet. "With our leading position in
collaborative commerce infrastructure, distributed content management
applications, our proven marketplace software, and our continued development of
supplier-enabling commerce solutions, we have an enviable position to exploit
what has been a relatively untapped opportunity. We are now deploying these
technologies to build powerful private marketplace solutions that fully leverage
our growing base of over 20,000 industrial suppliers. By reshaping our Microsoft
relationship to broaden our extended enterprise footprint and restructuring the
company in line with achieving that goal, we can focus our attention on
enterprise solutions that fully leverage connections into enabled supplier
networks."


By leveraging its current assets - core e-commerce software, collaborative
commerce infrastructure technology and a large supplier base - VerticalNet plans
to deliver its aggregated supplier base as a network to be linked to its
existing 59 public marketplaces, as well as to large enterprise buyers and other
buyer aggregated environments such as consortia, through one integrated
platform. By aggregating and creating a network of suppliers, VerticalNet
believes it can offer a more efficient method for connecting large numbers of
suppliers directly to sources of demand while providing a cost-effective way for
buyers to access suppliers at all tiers of the value chain. This solution
addresses one of the looming and unaddressed pain points in accelerating
adoption of Internet commerce - specifically the problem of cost effectively
linking a broad supplier base to an enterprise buyer.
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VerticalNet's vision builds on its heritage and core technology assets to
capitalize on enterprises' needs for supplier enablement, a market that has been
largely ignored by buy-side and e-marketplace vendors. Unlike other B2B
e-commerce software providers who primarily focus on buyers' needs with little
regard for providing added value to supplier communities, VerticalNet has proven
expertise in aggregating and in providing value to suppliers. VerticalNet's
solutions provide the content management software, the collaborative
infrastructure, and the e-business growth opportunities that are expected to
substantially increase the value suppliers gain by participating in enabled
supplier networks.


SOLUTIONS THAT RESPOND TO BOTH BUYER AND SUPPLIER NEEDS


VerticalNet's marketplace solutions are being developed to enable partners
throughout both supply and distribution chains to solve complex problems in a
shared environment. The Company expects that these solutions will offer
tremendous value to the extended enterprise by providing cost effective
connections to reach the numerous suppliers not yet linked by current systems,
and by reducing the cost and complexity required to respond to multiple customer
requests to link to their private trading exchanges. In addition, VerticalNet
technology is expected to provide enterprises and consortia with solutions that
go beyond private trading exchange functionality to link directly into enabled
supplier networks, allow for efficient access to a broad base of suppliers, and
provide structured content management tools to allow for the integration of
disparate supplier data into integrated buyer applications.


In a shift in strategic focus, VerticalNet will migrate from a closed demand
model, where buyers enter marketplaces through its 59 vertical communities, to
an open demand model where VerticalNet will link its enabled supplier network to
diverse sources of demand including public marketplaces and extended enterprise
networks. By empowering these suppliers with deeper sell-side applications, and
by broadly opening up access to this base of suppliers, VerticalNet believes it
is positioned to provide significantly greater value to its large and growing
network of suppliers through increased opportunities for top-line growth.


MICROSOFT AGREEMENT

In conjunction with its refined focus, VerticalNet has announced a new strategic
partnership with Microsoft that VerticalNet believes will accelerate its
leadership position by directing significant resources toward the placement of
an enhanced set of VerticalNet's hosted supplier enablement product offerings,
while continuing to support the Microsoft technology platform for its offerings
to small and medium sized businesses. Under terms of the new agreement, which
replaces the storefront distribution alliance launched in April of 2000 and all
financial commitments associated therewith, Microsoft will fund $40.0 million to
VerticalNet to create a richer set of enablement solutions, secure the adoption
of the enhanced product set within its targeted supplier base, and promote
Microsoft's technology platform as the enablement backbone for small and
medium-sized businesses.


Also, under the new partnership, both companies have agreed to enter into an
additional agreement under which they will each deploy an additional $10.0
million in funds towards the development of products and services and marketing
initiatives.


"The change in the agreement will enable VerticalNet to focus away from mass
placement of basic public marketplace access tools such as storefronts, and
drive quickly toward a broader set of deeper supplier enablement products, while
continuing to provide us with a visible forward revenue stream during our
transition," stated Hagan.

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ORGANIZATIONAL STRUCTURE


VerticalNet has restructured its organization, core assets and management team
to better take advantage of future opportunities. VerticalNet believes that this
restructuring will enable it to continue to drive operational efficiencies and
meet its profitability goals, while capturing greater market share in an
accelerated and well-managed capacity.

"Mike's leadership is having a positive impact, as we all expected it would,"
said VerticalNet Chairman Mark Walsh. "The coordination of the company around a
single set of products, and our excitement at remaining focused on what we do is
motivational to all of us who work at VerticalNet."

As part of the new organizational structure, Hagan will be assisted in
implementing his vision for the company by the following key appointments within
the new VerticalNet management structure:


PATRICIA HUME, CHIEF MARKETING OFFICER


A 20+ year veteran of IBM and Lotus, former VerticalNet Markets President Pat
Hume brings proven software development, sales and marketing experience, a
record of executional excellence and an in-depth understanding of VerticalNet's
core businesses, to the role of creating broad based market interest in and
knowledge of the VerticalNet suite of products. While at Lotus, Pat managed the
Company's global indirect sales and marketing efforts, directed strategic
alliances, built reseller channels for software sales, and managed software
development.


DAVID KOSTMAN, CHIEF OPERATING OFFICER


A former managing director at Lehman Brothers' Investment Banking Division,
David Kostman was head of Lehman's B2B Internet Group and closely involved in
VerticalNet's capital raising and M&A activities since 1998. David joined the
Company in June 2000 as President of VerticalNet International, overseeing the
Company's international strategy, operations and joint ventures, in addition to
being heavily involved in the operations of the Company and in a variety of
corporate development activities. In his role as COO of VerticalNet, David will
help the Company achieve its revenue and cost targets by overseeing and
coordinating the day-to-day activities of the different functions and global
operations. David will also continue to serve as President, VerticalNet
International.


CHRIS LARSEN, EVP OF GLOBAL FIELD OPERATIONS

As the former President of SAP America and through his leadership positions at
software companies ranging from MSA. to Datalogix, Inc., Chris Larsen brings
extensive go-to-market strategy development, sales, and alliance building
expertise to his role driving widespread marketplace adoption of VerticalNet
software solutions. Chris joins VerticalNet with twenty years of prior software
and technology experience. While at SAP America, Chris managed daily the
Company's multi-billion P&L with over 2,000 employees while driving the
go-to-market strategy development and execution of the U.S. subsidiary as it
evolved from a product orientation to a more customer focused solutions-oriented
design.

VENKAT RAJU, SENIOR VP, PRODUCT MANAGEMENT & ENGINEERING

Venkat Raju brings 18 years of prior engineering and technology experience to
his role in leading the development and implementation of the Company's core
product and technology strategy. Before joining VerticalNet, Venkat co-founded
BrightSage, an e-commerce company, and was the CTO of EthnicGrocer.com. In
addition, Venkat is a Wall Street veteran and has held executive-level positions
in several well-respected financial institutions, including Merrill Lynch Direct
Markets, Morgan
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Stanley, and Bankers Trust and technology positions in companies, including
S.W.I.F.T & DEC. He has wide e-business experience and has developed extended
enterprise models and integration with several ECNs.

DWAYNE SPRADLIN, SENIOR VP, BUSINESS DEVELOPMENT AND STRATEGIC ALLIANCES

A veteran of PricewaterhouseCoopers where his responsibilities included
strategic technology consulting, large-scale systems integration, and e-business
strategy and solutions delivery with clients including Compaq Computer, Intel,
and United Airlines, Dwayne Spradlin will lead VerticalNet's team to accelerate
corporate growth by developing new business opportunities, moving the Company
into new strategic markets, and developing technology, consulting, and channel
relationships to provide value for key VerticalNet customers and partners.


"I am pleased to see our executive team grow even stronger, and that our ability
to attract top tier talent is consistent with our bullish vision for long-term
growth. I look forward to working alongside this team of exceptional leaders in
delivering on that vision, and am confident that under the new structure we've
aligned the best people to lead the key operational functions of the business,"
said Hagan.


As a result of the organizational consolidation, reductions in force will be
implemented across the Company resulting in a decrease of approximately 25
percent of the Company's full time workforce. The Company expects to continue to
hire senior sales and technology professionals specifically trained to deliver
upon the Company's supplier enablement mandate.


In addition to consolidating resources in line with its strategic direction and
operational goals, the Company expects these initiatives to generate savings of
approximately $25 to $27million on an annualized basis and expects them to
result in a one-time charge of approximately $5 to $7 million, or approximately
$0.05 to $0.07 cents per share, in the second quarter of 2001.


ABOUT VERTICALNET, INC.

VerticalNet, Inc. (Nasdaq: VERT) is the Internet's leading e-business enabler.
It provides suppliers and buyers with robust software solutions and Web-based
commerce services. Through its creation of private marketplaces that connect
large buyers to networks of enabled suppliers, and its development of e-commerce
tools for small and medium-sized suppliers, the Company provides businesses with
an integrated e-commerce platform to effectively drive their improved
performance. Founded in 1995, VerticalNet, Inc. is an innovator in
business-to-business solutions. For more information about VerticalNet, Inc.,
please visit www.verticalnet.com.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This announcement contains forward-looking information that involves risks and
uncertainties. Such information includes statements relating to: (i)
VerticalNet's vision, strategy and business model; (ii) VerticalNet's plan to
become a leader in the creation of private marketplaces that connect large
buyers to networks of enabled suppliers; (iii) the anticipated benefits and
results of the new agreement between VerticalNet and Microsoft; (iv) Microsoft
and VerticalNet's future performance under their new agreement; (v) the
anticipated benefits and results of VerticalNet's organizational restructuring,
key management appointments and reductions in force, including the expected
annual savings therefrom and resultant one-time charge in the second quarter of
2001; (vi) VerticalNet's plan to deploy its technologies to build powerful
marketplace solutions that leverage its supplier network base;
(vii)VerticalNet's plan to deliver its aggregated supplier base as a network to
be linked to its existing public marketplaces, large enterprise buyers and other
buyer aggregated environments though one integrated platform; (viii)
VerticalNet's belief that it can offer a more efficient method for connecting a
large number of suppliers directly to sources of demand while providing a
cost-
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effective way or buyers to access suppliers at all tiers of the value
chain; (ix) VerticalNet's ability to solve the problem of cost effectively
linking a broad supplier base to an enterprise buyer; (x) VerticalNet's
expectation that its solutions will substantially increase the value suppliers
gain by participating in enabled supplier networks; (xi) the expected benefits
from the technology and solutions that VerticalNet is developing and offering;
(xii) VerticalNet's ability to migrate form a closed demand model to an open
demand model; (xiii) VerticalNet's belief that, by empowering suppliers with
deeper sell-side applications, it is positioned to provide significantly greater
value to its network of suppliers through increased opportunities for top-line
growth; and (xiv) statements that are preceded by, followed by or include the
words "will," "believes," "plans," "intends," "expects," "anticipates," or
similar expressions. For such statements, VerticalNet claims the protection of
the safe harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995. Actual results may differ materially
from the results predicted, and reported results should not be considered as an
indication of future performance. Factors that could cause actual results to
differ from those contained in the forward-looking statements include, among
other things, general economic and market conditions, the slowing spending
environment for advertising and IT sales, volatility in VerticalNet's stock
price, VerticalNet's limited operating history, the early stage of the Web as an
advertising and commerce medium, dependence on VerticalNet's relationships with
Microsoft, Converge and other strategic and joint venture partners, foreign
government regulations, including regulations relating to the Internet, rapid
technological and market changes, and VerticalNet's dependence on advertising
revenues and on third parties for technology, content and distribution, as well
as those factors set forth in VerticalNet's Annual Report on Form 10-K for the
period ended December 31, 2000, which has been filed with the SEC. VerticalNet
is making these statements as of April 26, 2001 and assumes no obligation to
publicly update or revise any of the forward-looking information in this
announcement.
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