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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: Sharck who wrote (26544)	6/7/2001 2:02:07 PM
From: wgh613	Read Replies (1) \| Respond to of 37746

NOPT, NEON Communications Describes Fiber Optek News Release as Materially Misleading WESTBOROUGH, Mass., Jun 7, 2001 (BUSINESS WIRE) -- NEON(R) Communications, Inc. (Nasdaq: NOPT chart, msgs) described today's news release (June 7, 2001) by Fiber Optek as materially misleading and as an attempt by Fiber Optek, one of NEON's contractors, to pressure NEON to settle disputed contractual claims following NEON's termination of its agreement with Fiber Optek. The news release reported that Fiber Optek "has filed mechanic's liens in White Plains, NY upon optical cable networks and license agreements located in Westchester Country, NY." NEON Communications and its legal counsel call the news release "materially misleading." The liens are on a small portion of NEON's Network and total $1,178,393 out of a total network having a book value of $192 million. NEON believes the liens have been filed in an attempt to bring pressure on NEON to resolve several routine contractual disputes with a contractor that NEON has recently terminated for breach of contract. The contractor's press release of information that is several months old is a continuation of this tactic. NEON intends to seek to have the liens removed and the contractor enjoined from filing further liens. In addition, NEON intends to seek to damages for, among other things, the cost of correcting the work done by the contractor. NEON Chief Executive Officer Stephen Courter stated "NEON is NOT seeking protection from its creditors under federal bankruptcy laws" and reminded its shareholders that NEON recently announced $28M of new funding from various alternatives. The company has taken the position that it will protect its interests vigorously and not bow to the tactic of airing a commercial trade dispute in the public media to sway NEON from our current legal path and the due course of our settling our disagreement in an appropriate manner by a court of competent jurisdiction. NEON is a registered trademark of NEON Communications, Inc. (NOTE:This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements concerning future plans for litigation, expansion and completion of the NEON system. Such statements are subject to risks and uncertainties which could cause actual results to differ materially from those anticipated, including those risks detailed in the section entitled "Risk Factors" and elsewhere in the Company's Registration Statement on Form S-3 (File No. 333-34234), Annual Report on Form 10K for the year ended December 31, 2000, and subsequent filings with the Securities and Exchange Commission, and should be read in light of these risks. The Company assumes no obligation to update the information contained in this news release.) Contact:

To: Sharck who wrote (26544)	6/7/2001 2:21:25 PM
From: Softechie	Read Replies (1) \| Respond to of 37746

PRESS RELEASE: NEON Commun Creditor Files Liens 07 Jun 07:11 Fiber Optek Announces: Disclosure of Bankruptcy Risks By NEON Communications Inc. Prompts Filing of Liens WAPPINGERS FALLS, N.Y.--(BUSINESS WIRE)--June 7, 2001--Due to NEON's recent filing with the U.S. Securities and Exchange Commission on Form S-3 dated April 12, 2001, which stated, "We have experienced, and are currently experiencing, cash flow problems. We may be required to seek protection from our creditors under the federal bankruptcy laws," Fiber Optek, a leader in the development and installation of fiber optic communications networks, Thursday reported that it has taken steps to confirm its position as a secured creditor of NEON Optics Inc., a subsidiary of NEON Communications Inc. (Nasdaq: NOPT). Michael S. Pascazi, president of Fiber Optek, reported that the company has filed mechanic's liens in White Plains, N.Y. upon certain real property including optical cable networks and license agreements located in Westchester County, N.Y. He further indicated that additional liens would be filed in the coming days. Copies of the filings may be viewed and downloaded at www.fiberoptek.com/neon. Fiber Optek, a 17-year-old private concern, has designed and installed hundreds of fiber optic communications systems for local, county and state government agencies, companies and educational institutions throughout the Northeast. Fiber Optek is a registered trademark of Fiber Optek Interconnect Corp. CONTACT: Fiber Optek Bruce M. Stern, Esq., 845/561-8435 www.fiberoptek.com KEYWORD: NEW YORK INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS NETWORKING TELECOMMUNICATIONS Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com (END) DOW JONES NEWS 06-07-01 07:11 AM