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Strategies & Market Trends : IJNT Breaking out, Rumor has it Huge Deal in the Works -- Ignore unavailable to you. Want to Upgrade?

To: Norms who wrote (23)	8/17/1999 12:27:00 PM
From: 2MAR$	Read Replies (1) \| Respond to of 36

(BSNS WIRE) IJNT.net Subsidiary Receives $7 Million Funding IJNT.net Subsidiary Receives $7 Million Funding Business Editors and High-Tech Writers HOUSTON--(BUSINESS WIRE)--Aug. 17, 1999--IJNT.net (OTC BB:IJNT), a leading high-speed Internet access and telecommunications provider and Web development company, Tuesday announced that its UrJet Backbone Network ("UBN") subsidiary has received $7 million from Nortel Networks (NYSE:NT) as part of the first tranche of the recently-completed $44 million cash and equipment deal between the companies. The initial working capital will be primarily used to meet increasing staffing requirements and to prepare the first group of switching and equipment colocation sites for delivery and installation of Nortel Networks DMS switches, fiber transport nodes, Star Hubs and associated network hardware and software. In addition to the $7 million cash, Nortel will initially deliver equipment, software and services valued at $8.2 million to UBN switching sites and remote colocation sites by October. CEO Jon Marple stated "with this initial funding, we are able to launch the next substantive phase of the network construction and company development envisioned in the UBN business plan. This builds upon the backbone network elements and agreements we previously had in place; and we plan to follow up with another major funding in the near future to continue the realization of the UBN regional and national networks." Proceeds of the Company's planned future fundraising will be used to procure additional network equipment and staff and repay the working capital infusion. IJNT.net provides Web design and hosting, telecommunications and high-speed, wireless Internet access to homes and businesses. The Company's subscriber base is increasing as the service expands nationwide. IJNT also provides Web site development and e-commerce services as well as carrier-grade network services and dial-up Internet access throughout the U.S. and internationally. The Company's rapid growth is the result of aggressive marketing and sales, internal development, acquisitions, and strategic alliances. This news release may contain forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, subscriber growth, product demand, competition, and other risks and uncertainties detailed from time to time in the Company's periodic reports, including Quarterly Reports on Form 10-Q and Annual Reports on 10-K. This and additional information can be found through the Company's Web site at www.ijnt.net or obtained from the Company upon request. --30--KM/np* JS/np CONTACT: IJNT.net Investor Relations 949/723-2183 Fax: 949/723-2181 e-mail: investor.info@ijnt.net www.ijnt.net www.urjet.net www.mrhm.net or Mario "Ike" Iacoviello 800/683-5227/760/931-9211 ike@otcfn.com www.otcfn.com/ijnt KEYWORD: TEXAS INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED INTERACTIVE/MULTIMEDIA/INTERNET Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com * end of story *