ISELIN, N.J., Apr 27, 2000 (BUSINESS WIRE) --  Archer Systems Ltd. Inc. (OTCBB:
ARYN), a business incubator, announced Thursday that it acquired all of the
outstanding shares of NextNet.com, a newly formed private company, through a
share for share equity exchange agreement.
 
NextNet.com will operate as a wholly owned subsidiary of Archer Systems Ltd.
Inc.
 
NextNet.com intends to identify, acquire equity interest in and develop
strategic corporate alliances and partnerships with companies in the Internet
and technology sectors.
 
Focusing on early stage as well as mature companies, both public and private
with demonstrable business models, NextNet.com proposes to offer financial,
operational and strategic assistance to accelerate a company's growth process
and increase its value.
 
Larry Weinstein, NextNet.com's founder, will serve as its president & chief
executive officer. Most recently Weinstein served as vice president of strategic
projects for Cybergold Inc. (Nasdaq:CGLD). Cybergold, an Internet incentives and
payment technology company, was acquired by MyPoint.com Inc. (Nasdaq:MYPT) on
April 17, 2000, creating the Internet's leading loyalty marketing companies.
Weinstein also serves on the Board of Directors for 5th Avenue Channel Corp.
(Nasdaq:FAVE), which, through its wholly owned subsidiary, NetVideoNetworks
Inc., is creating and aggregating television and video content available through
television and in streaming on-demand form on the Internet.
 
In his position with Cybergold, Weinstein developed large scale cross media
promotions with Cybergold clients. During his 18 years in the entertainment
industry, Weinstein has worked with marquee named artists, major talent agencies
and record companies. Weinstein also produced an educational CD-ROM on the "50
Year History of the UN."
 
Weinstein stated, "We have embraced a highly scalable business model. We intend
to combine our existing proprietary relationships with preeminent players to
drive our corporate strategy and provide synergies within the NextNet.com
network." Richard Margulies, president of Archer Systems stated, "I believe the
acquisition of NextNet.com marks the first significant milestone for the future
of Archer."
 
Archer Systems also announced Thursday, that its Board of Directors has amended
the corporation's bylaws to provide that the annual meeting of shareholders
shall be held 180 days after the end of the corporation's fiscal year ending
April 30.
 
With headquarters in Iselin, Archer Systems Ltd. Inc. is dedicated to the task
of nurturing business entities through their early stages of development. The
company plans to acquire, develop and/or operate Internet related companies
through majority owned subsidiaries, and invest in other Internet companies
through venture capital arrangements. By providing management guidance,
financing, and lending necessary business support such as legal counsel,
accounting assistance, and marketing advice. Archer Systems anticipates
enhancing the survival rate of new businesses and rapidly increasing their
growth rate.
 
The reader is advised that this release contains forward-looking statements of
the company and that a variety of factors could cause the company's actual
results and experience to differ materially from the anticipated results of
their expectations expressed. Additional information regarding those factors is
available upon request.
 
The foregoing release and the information contained therein was prepared solely
by the management of Archer Systems Ltd. Inc., its subsidiaries and affiliates,
who furnished the same to Market Pathways Financial Relations Inc. for release.
 
 
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 Copyright (C) 2000 Business Wire.  All rights reserved.
 
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 CONTACT:          Archer Systems Ltd. Inc., Iselin
                   Richard Marguiles, 877/552-7243
                   archersysltd@aol.com
                   or
                   Market Pathways
                   Shannon T. Squyres, 949/955-1860