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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 (30)	8/18/1999 2:03:00 PM
From: 2MAR$	Read Replies (1) \| Respond to of 36

(BSNS WIRE) IJNT.net Reports Quarterly Revenues Up 541% Over Same Period IJNT.net Reports Quarterly Revenues Up 541% Over Same Period Last Year Business Editors and High-Tech Writers HOUSTON--(BUSINESS WIRE)--Aug. 18, 1999--IJNT.net (OTC BB:IJNT), a leading high-speed Internet access and telecommunications provider and Web development company, Wednesday announced that its revenues for the quarter ended June 30, 1999 increased 541% compared with the quarter ended June 30, 1998. This was the first quarter for which the company's revenue exceeded $1 million. Other highlights of the company's 10QSB quarterly filing submitted Tuesday to the Securities and Exchange Commission included: -- Subisidiary UrJet Backbone Network ("UBN") prepares applications for CLEC status in several states -- Expansion of UBN Los Angeles network operations center with addition of key engineering personnel and lease of additional office and colocation space at 700 Wilshire -- Negotiation of $44 million cash, equipment and services deal for first phase buildout of next generation DSL and multi-services network -- Acquisition of FairAuction.com computer auction site, which generated revenues of more than $232,000 for the quarter -- Completion of new headquarter offices in Houston's Williams Tower and inauguration of service over the company's most sophisticated high-speed wireless transmission system to date from the 1,000-foot tower -- Opening of new multi-services office in Concord, Calif. -- Expansion of Sonet fiber-ring services and network in California and Texas -- Negotiation of colocation arrangements and gigaswitch network interconnection at NASA Ames Internet Exchange (Mae West) facility Craig Hewitt, IJNT Finance vice president, said, "We are quite pleased with the results we have achieved in the two years of the company's existence and during the last quarter. One of the most exciting aspects of the quarter was that we were within sight of positive cash flow before deciding to recognize additional non-recurring losses associated with certain public relations and promotional costs. Overall expenses grew in accordance with the new facilities, personnel and related obligations the company took on; however, the all-important fact is that revenues continue to grow at a much more rapid pace than expenses." The full 10QSB report, as well as all of the company's previous SEC filings, is available online at ijnt.net by selecting Investor Relations and then SEC Filings-EDGAR Archives. The Web link to go directly to the 10QSB report on EDGAR is www.sec.gov/Archives/edgar/data/925739/0001016295-99-000098.txt. IJNT.net provides 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 United States 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--JS/np* JP/np CONTACT: IJNT.net Inc. 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 or 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