B: Interliant CEO Confirms Company's Financial Position
PURCHASE, N.Y., Mar 21, 2000 (BUSINESS WIRE) -- Herb Hribar, chief
executive officer of Interliant, Inc. (NASDAQ: INIT), a leading
application service provider, said today that an article in the March
20 edition of the business and financial weekly Barron's is misleading
as it does not take into account the company's current cash position.
The publication based its article on information about Interliant that
has been rendered obsolete by recent company financing, stated Mr.
Hribar.
Mr. Hribar further stated, "Barron's formed its conclusions based on
December 31, 1999 information. Since then, Interliant has raised over
$190 million through the sale of convertible subordinated notes and
investments from strategic partners. The caliber of our strategic
partners, including Dell, BMC Software, Network Solutions and Microsoft
along with the extent of our new financial resources, attests to the
strength of Interliant both financially and as a competitor in dynamic,
fast-growing markets."
About Interliant, Inc. Interliant, Inc. (NASDAQ: INIT) is a leading
application service provider (ASP) and pioneer in the ASP market.
Interliant's solutions enable companies of all sizes to capitalize on
the latest Web-based technologies and packaged software applications
quickly and cost-effectively by relieving them of the burdens
associated with building, managing and maintaining the infrastructure
required to support mission-critical applications. Interliant's
offerings include solutions in the following areas: Web site hosting,
messaging and knowledge management, security, e-commerce, customer
relationship management, enterprise resource planning, distributed
learning, and Web-based rental applications via AppsOnline.com.
Interliant is headquartered in Purchase, N.Y. and has formed strategic
alliances with leading software, networking and hardware companies
including Dell Computer Corporation (NASDAQ: DELL), IBM (NYSE: IBM),
Lotus Development Corp., Microsoft (NASDAQ: MSFT), BMC Software
(NASDAQ: BMCS), and Network Solutions (NASDAQ: NSOL). For more
information, please visit the Interliant Web site, www.interliant.com.
Interliant is a registered trademark of Interliant, Inc. All other
trademarks are the properties of their respective companies.
This press release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and Section 27A of the Securities Act of 1933, as amended. Any
statements contained herein that are not statements of historical fact
may be deemed to be forward-looking statements. Actual results and the
timing of certain events may differ significantly from the results
anticipated or discussed in the forward-looking statements. These
forward-looking statements are based largely on the Company's current
expectations and are subject to a number of risks and uncertainties. In
addition to this press release, other important factors to consider in
evaluating the forward-looking statements include, without limitation,
those discussed in the Company's Quarterly Report on Form 10-Q for the
quarters ended June 30, 1999 and September 30, 1999, respectively, the
Company's Registration Statement on Form S-1 filed on March 15, 1999,
as amended, and other filings by the Company with the Securities and
Exchange Commission. In light of these risks and uncertainties, there
can be no assurance that the forward-looking statements contained
herein will in fact be realised and the Company assumes no obligation
to update this information.
Copyright (C) 2000 Business Wire. All rights reserved.
Distributed via COMTEX.
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CONTACT: Interliant Media Contacts: Lois Paul & Partners
Julie Belan, 512/638-5311
julie_belan@lpp.com
or
Interliant Investor Contact: Interliant, Inc.
Beth O'Byrne, 914/640-9000
bobyrne@interliant.com
WEB PAGE: businesswire.com
GEOGRAPHY: NEW YORK
INDUSTRY CODE: INTERNET
SOFTWARE |
