To: Investor Clouseau who wrote (201 ) 5/11/2000 5:15:00 PM From: Captain Jack Respond to of 217
Headline IJNT goes to the next level with the following news. The problem is it was the next level DOWN. IRVINE, Calif.--(BUSINESS WIRE)--May 11, 2000--IJNT.net, Inc. (Nasdaq/NM:IJNT), a leading integrated communications provider, which will soon be known as Universal Broadband Networks ("UBNetworks"), announced several Board and management position changes which took place over the past week. IJNT Chairman, Jon H. Marple, said: "We are ready to launch our state-of-the-art integrated communications network, first in California, followed by the western United States and ultimately nationwide. At this juncture, UBNetworks needs and desires a nationally known, tested and proven chief executive to take the Company to the highest competitive level. We believe that our shareholder value will be greatly enhanced by securing an experienced telecommunications professional as CEO. With this in mind, I and Mary Blake, our President, have resigned our administrative posts as CEO and President to head up our CEO and Board search team. We are gratified that the Company has grown to a point where our critical mission is to hire the best available telecom chief executive to oversee the commencement of network operations and its continued growth. We are interviewing qualified candidates and hope to announce a selection soon." Blake stated: "The development of this Company has seen us continually rise from one level to the next; and now in conjunction with our NASDAQ National Market listing and network buildout, we seek to hire additional key industry executives to fill critical roles in the growth of UBNetworks." According to Marple: "Locating and securing top executive and directorial talent and representing the Company to Wall Street and Main Street are full-time tasks. Fortunately, these demands are where we as founders can apply our passion for broadband development in the ways which best benefit the Company going forward. Therefore, we will be able to continue to promote the entrepreneurial spirit and vision of UBNetworks while turning over daily management to nationally-recognized executives." An Interim Executive Committee comprised of CFO Richard Nelson, Chairman, as well as Jeffrey R. Matsen, Executive Vice President and Jerry Pulley, Executive Vice President of Marketing, has been formed and is in charge of executive leadership and operation of the Company during the remainder of the executive search and recruitment process. Nelson, spokesman for the Executive Committee, commented: "Jon Marple and Mary Blake built UBNetworks from its first employee to the multi-regional integrated communications provider and NASDAQ listed corporation we serve today. Their against-the-odds performance and accomplishments speak for themselves. Our founders are now taking the progressive step of sourcing nationally-known industry leaders to continue to lead UBNetworks forward." IJNT.net is an emerging provider of integrated broadband communications, and will presently adopt the name of its chief operating subsidiary, UBNetworks, a facilities-based competitive local exchange carrier, offering 21st Century communication products and services to business and residential customers. The Company's high-speed DSL network will offer world-class performance from a flexible line of products and services to fit any broadband need. The IJNT.net family of companies provides wired and wireless broadband communications over several "last mile" systems, offering performance many times faster than common dial-up modems, through the Company's direct response, direct sales and value-added reseller channels. The Company's customer base is expected to grow rapidly as the network is expanded regionally across the United States. 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 on the company's Web site at www.ubnetworks.com or can be obtained from the company