The figures are based on data from more than 200 online publishers selling advertising, among them Web sites, commercial online services and e-mail providers.

Compared to overall advertising the figures are still peanuts, and the advertised products are closely tied to the Internet audience: 27% of all advertisements are for computers, followed by computer-related products (25%), telecommunications (14%) and financial services (13%).

Nonetheless, Richard LeFurgy, chairman of the Internet Advertising Bureau, says the "results for the first quarter of this year underscore the fact that the Internet is now considered an integral component of the overall media mix."

First-quarter spending was about 5% higher than during the fourth quarter spending of 1997, but in a year-on-year comparison a drastic 272% higher than last year.

According to the IAB figures, total online spending on advertising was $907m last year.