From: investor.relations@etoy.com
Subject: BYE BYE eToys Inc. - HELLO Goldman, Sachs & Co.


dear customers & shareholders,


"eToys underestimated the power of
established brands"
<a href ="http://www.zdii.com/industry_list.asp?mode=news&doc_id=ZE507475&pic=Y"> www.zdii.com</a>


WE ALL LOST A LOT OF CASH. BUT IT WAS
HOPEFULLY WORTH IT. WE ALL LEARNED
SOME IMPORTANT THINGS WHILE BURNING
VENTURE CAPITAL (that's what it is here
for - by definition. real VCs know that).

COMPANIES COME AND GO - LIKE FALSE
FRIENDS.

the days of the pioneers are gone.
the etoy.AGENTS are not shocking old
ladies with orange jackets and bald
heads on the data-highway and you pro-
bably don't work with photoshop 2.1
anymore. we all face the wind of change.
it's just another paradigm shift:

the simple minded dot-coms go out of
business. the next bubble will grow and
burst. that's life. who is against bubbles?
the net is still the most exciting market
place. etoy enjoys being digitally
connected with a growing audience: the car
dealer is there, the butcher, the
prostitute, the broker, the professor
and you. its a good moment to make this
point as many pioneers just ride the next
wave and complain about e-commerce and
the disappointment after"the hype". what
does it mean? the end of the electronic age?
no. its just another crack in the chart.

the etoy.CORPORATION is about to hook up
its first server on this rusty platform
in the north sea that is an independent
country - SEALAND - a real challenge in
a world of power & politics. the SHARE-
HOLDERS from five continents just had
their first online etoy.GENERAL-MEETING
including a secure voting & the distri-
bution of etoy.DIVIDENDS.

maybe not that spectacular but a huge
conceptual step. participation is no
longer reduced to investments and
resistance: the shares now vote on the
future of art. possible only on the net.
that's the big difference to funny
business art in the 80's: etoy.SHARES
matter. etoy.SHARES affect global systems.
the show must go on - on another level
and more twisted than ever before.

the real impact of the networked world
just started. the masses make the
difference, not a hand full of pioneers.
make up your mind again and watch your
credit card. life changes. resistance
changes...everybody heard it:

<a href ="http://cbc.ca/cgi-bin/templates/view.cgi?/news/2001/02/05/davos_hack010205">cbc.ca</a>

we don't support such actions
(etoy.DISCLAIMER: etoy was, is and
always will be against any kind of
illegal operation, violence and unmoral
behaviour!). but we believe in the
relevance of the electronic playground
and reject the depression about the net.
TCP/IP is not video is not limited in
time and space. the applications live
and adapt.

against some statements from the"culture
press" etoy does not"play TOYWAR II
because it run out of ideas" but tries
to sort out some heavy problems with the
old dogs in the market before we all move
a step further. that's why etoy informed
business wire and reuters about the
lawsuit against eToys Inc. (and not the
common press). 259 major etoy.INVESTORS
voted to authorize the etoy.LAWYERS to
"take all steps necessary" to terminate
the time and money wasting problems etoy
faced for more than one year and"to do
this before a merger or sell out of the
eToys assets (THE BRAND) takes place".

<a href ="http://www.etoy.com/tmlawsuit2001/">www.etoy.com</a>

don't complain - etoy moves forward and
tries to infect the world. this is not
possible if we have to care about our
basic rights day by day. bills for legal
defence and negotiations for more than
75'000$ have been delivered to the
etoy.TANKS during the last 4 months. that's
simply enough. we offered many scenarios
for peaceful co-existence. but the guys
from Goldman, Sachs & Co. have a different
vision: maximizing financial profits -
not culture value!

someone will sell toys under www.etoys.com
next x-mas. and this someone will work
with lawyers again.

ok. etoy has priority. the etoy.LAWYERS
did not stress this last year because we
believed in co-existence and a deal. how
naive! etoy could have done this a year
ago and make millions. we did not do it
because the etoy.SHAREHOLDERS are fair and
reasonable business people. why wasting
thousand jobs if a way can be found? etoy
did not stress aggression. we think we
proved this.

eToys as we know it is part of history.
but the brand will change hands. lets sort
this out. once and for all. don't ask us
why! toby & his friends know it better
than anybody else. we tried. they turned
us down.


IT'S NOW OR NEVER... as the king sang.

kisses from the etoy.MANAGEMENT
& god bless NASDAQ.




(etoy, echte avantgarde, haben ende 1999 den
nasdaqcrash an etoys vorexerziert. etoy.share:
übrigens die einzigen aktien die ich besitze)

gruss

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