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Geeknet, Inc. Announces Departure Of President And Chief Executive Officer Of Media Business Unit

FAIRFAX, Va., March 21, 2011 (GLOBE NEWSWIRE) -- Geeknet, Inc. (Nasdaq:GKNT), the online network for the global geek community, today announced that Scott Collison, president and chief executive officer of the Company's Media business unit, has resigned effective March 21, 2011.

Ken Langone, the Company's Executive Chairman, will lead the Media business unit until a permanent replacement has been identified.  

"On behalf of the Board of Directors, I want to thank Scott for the contributions he has made to Geeknet," said Ken Langone. "We appreciate the efforts he has put into the group and I'm confident that we'll continue to make progress within the Media business. I wish Scott success in his future endeavors."

ABOUT GEEKNET, INC.

Geeknet is the online network for the global geek community. Our sites include SourceForge, Slashdot, ThinkGeek, and freshmeat. We serve an audience of nearly 55 million users* each month and provide the tech-obsessed with content, culture, connections, commerce, and all the things that geeks crave. Want to learn more? Check out geek.net.

(*January 2011 Unique Visitors 54.9M. Source: Google Analytics and Omniture) Geeknet is a trademark of Geeknet, Inc. SourceForge, Slashdot, ThinkGeek, and freshmeat are trademarks of Geeknet, Inc. in the United States and other countries. All other trademarks or product names are property of their respective owners.

The Geeknet, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7330

This press release may contain forward-looking statements, including information about management's view of Geeknet's future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of Geeknet, its subsidiaries, divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents Geeknet files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on Geeknet's future results. The forward-looking statements included in this press release are made only as of the date hereof. Geeknet cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Geeknet expressly disclaims any intent or obligation to update any forward-looking statements to reflect subsequent events or circumstances.
CONTACT: The Blueshirt Group
         Todd Friedman, 415-217-7722
         todd@blueshirtgroup.com
         Stacie Bosinoff, 415-217-7722
         Stacie@blueshirtgroup.com

Geeknet, Inc.

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