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Gold/Mining/Energy : Cybersurf (CY.A) - Bridge between 20th & 21st Centuries -- Ignore unavailable to you. Want to Upgrade?

To: TonyL who wrote (2121)	7/20/1999 9:15:00 AM
From: Luc Beaugrand	Read Replies (1) \| Respond to of 3243

Tuesday July 20, 8:25 am Eastern Time Company Press Release SOURCE: Call-Net Enterprises Inc. Call-Net Enterprises Inc. Makes Strategic Investment in Cybersurf Corp. TORONTO/CALGARY, July 20 /CNW-PRN/ - Call-Net Enterprises Inc. and Cybersurf Corp. announced today that Call-Net has made a strategic investment in Cybersurf with the goal of accelerating the deployment of Cybersurf's 3web(TM) Network across Canada. The investment will see Call-Net inject $12 million in cash, of which $7 million will be applied by Cybersurf against wholesale network services to be provided by Call-Net. In return, Call-Net will receive 1,724,138 common shares of Cybersurf, plus warrants to purchase a further 7,000,000 common shares at $5.00 per share over the next three years. Call-Net will also become the national supplier of network services to Cybersurf and will appoint two members to Cybersurf's board of directors. ''Our partnership will ensure that Cybersurf expands its leadership position in the advertiser-supported Internet access market in Canada,'' stated Juri Koor, Call-Net's Chairman, President and Chief Executive Officer. ''We believe there is a great future for advertiser-supported Internet access services in Canada and we are excited to be part of it. This investment allows our company to take a further step in implementing its own Internet strategy. We will be leveraging Canada's largest IP network with this country's most exciting Internet innovator.'' ''3web's early success in Calgary and Edmonton has demonstrated the strong potential of advertiser-supported Internet access service in Canada and the attractiveness of our approach in this fast-growing new market segment,'' declared Paul Mercia, Cybersurf's President and Chief Executive Officer. ''Call-Net's financial and operational support will play key roles in spearheading the successful roll-out of the 3web Network on a national basis.'' 3web is a proprietary software application that was developed by Cybersurf Interactive Media, a division of Cybersurf. It offers users a powerful and secure portal to anywhere on the World Wide Web, as well as E-mail and E-commerce functionality. The 3web Network is supported by commercial advertising and E-commerce and is totally free to the user. Cybersurf's proprietary 3web advertisement-supported approach is unique in Canada bringing highly targeted, demographically-specific advertising to the user's desktop. Traditional portals provide advertising via banner ads on web pages, making it easy to click the ad away. 3web's portal operates independently of any Web browser and can never be hidden or disabled. No matter where the user travels on the Internet, 3web's advertising is always visible. It is because of this feature that advertisers on 3web can be guaranteed exact impressions and can target specific demographic profiles. ''We see this partnership as a two-way street. Beyond the financial and business support we bring to Cybersurf, we believe there is also an opportunity to bring Cybersurf's web design, web hosting, firewall and E-commerce capabilities to Sprint Canada's small and medium-sized customer base and lead the industry in E-commerce enablement in this segment,'' concluded Mr. Koor. About Call-Net Enterprises: Call-Net Enterprises Inc. is a rapidly growing publicly owned Canadian company that creates and enhances value by developing opportunities in the telecommunications industry in Canada through its marketing subsidiary Sprint Canada Inc., in the United States through CNE Communications Corporation, and in the United Kingdom through Call-Net (UK) Limited. The company also holds an 11 per cent interest in Microcell Telecommunications Inc. The Common Shares and Class B Non-Voting Shares of Call-Net Enterprises Inc. trade on the Toronto and Montreal stock exchanges under the symbols CN and CN.B respectively. The Class B Non-Voting Shares also trade on the Nasdaq Stock Market under the symbol CNEBF. About Cybersurf Corp.: Cybersurf Corp. is a communications company in the business of developing and marketing innovative software and connectivity tools. Its goals are to enhance the use of telecommunications hardware and to develop unique software, which has substantial potential for businesses and consumers. The common shares of Cybersurf Corp. are traded on the Alberta Stock Exchange under the symbol CY. The Alberta Stock Exchange has neither approved nor disapproved of the information contained herein. SOURCE: Call-Net Enterprises In