Exhibit 99.1



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theglobe.com


theglobe.com enters into letters of intent for new acquisition and investment.

September 17, 2002

theglobe.com announced today that it has entered into a letter of intent to
acquire certain digital telephony assets relating to a development stage
business from an  entrepreneur.  It is anticipated that the purchase price for
such assets would be paid by the Company through the issuance of  approximately
1.75 million warrants to acquire shares of Common StockThe Company also
anticipates that there would be an earn out in which warrants for approximately
another 425,000 shares of Common Stock may be issued.  In conjunction with the
acquisition, E&C Capital Partners, a privately held investment holding company
controlled by Michael S. Egan, our Chairman and CEO and Edward A.Cespedes, our
President and a director, has entered into a letter of intent with theglobe.com
to provide $500,000 of new financing via the purchase of shares of a new Series
F Preferred Stock of theglobe.com.  The Series F Preferred Stock will be
convertible into shares of the Company's Common Stock at a price of $.03 per
share (equal to the average closing price of theglobe.com Common Stock for the
past 30 trading days).  If fully converted, an aggregate of  approximately 16.7
million shares of Common Stock could be issued.  In addition, E&C Capital
Partners will receive warrants to purchase approximately 3.3 million shares of
theglobe.com Common Stock at an exercise price of $0.125 per share.

The acquisition is subject to a number of closing conditions, including
completion of satisfactory due diligence and satisfactory resolution of various
tax and business considerations.  The acquisition is also subject to completion
of a purchase and sale agreement satisfactory to theglobe.com and the seller.
theglobe.com may terminate the letter of intent at any time without penalty.

The financing is also subject to a number of closing conditions, including
completion of the acquisition by theglobe.com of the aforementioned digital
telephony assets, satisfactory resolution of certain Company liabilities,
satisfactory resolution of other tax and business considerations, and obtaining
certain releases.  The financing is also subject to completion of an investment
agreement satisfactory to the parties.

If consummated, the acquisition and the financing will result in substantial
dilution of the number of outstanding securities of theglobe.com.

SAFE HARBOR -- this press release contains financial information and includes
forward-looking statements related to theglobe.com, Inc. that involve risks and
uncertainties, including, but not limited to, whether or not the acquisition or
financing described in this release will be ultimately consummated, integration
of newly acquired businesses, product delivery, the management of growth, market
acceptance of certain products and other risks. These forward-looking statements
are made in reliance on the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. For further information about these factors that
could affect theglobe.com's future results, please see the Company's filings
with the Securities and Exchange Commission. Prospective investors are cautioned
that forward-looking statements are not guarantees of performance. Actual
results may differ materially from management expectations. Copies of these
filings are available online at http://www.sec.gov.