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To: marley33 who wrote (90394)	8/17/2001 12:51:16 PM
From: marley33	Respond to of 150070

Celerity Systems and Artesian Direct Finalize Agreement KNOXVILLE, Tenn. & LIBERTY LAKE, Wash.--(BUSINESS WIRE)--Aug. 16, 2001--Celerity Systems, Inc. (OTCBB:CLRT - news) and Artesian Direct today announced that they have executed the definitive agreement initially announced in a Letter of Intent (LOI) on July 6, under which the parties will cooperate with the objective of expanding business opportunities. Under this Agreement, Artesian Direct will purchase from or provide lease or purchase financing to Celerity for a minimum of $10 million of Celerity products over the next two years. As part of the transaction, Artesian Direct will immediately acquire 2.4 million shares of Celerity common stock. The companies expect that this arrangement will accelerate the business activities of the parties, especially in the energy, school, and multihousing markets. Celerity Systems is a provider of advanced digital set top boxes and video servers for interactive television and high-speed Internet. Key markets include schools, hospitality, multihousing, hospitals and assisted living, telcos, energy companies, and corporate applications. Celerity can also provide end-to-end systems through strategic relationships with leading technology companies. Artesian Direct is a Liberty Lake, Washington based OEM Distributor of Internet e-commerce-enabling appliances and print media solutions. Artesian Services, the portal design support division for broadband interactive solutions, provides premier digital design solutions to clients who are looking to enhance their business objectives by incorporating Internet commerce and multimedia applications into their marketing portfolio. Artesian Direct was recently selected as the specialty products provider to Grant County Public Utility District's (PUD) Zipp fiber-optic transmission network. Grant County PUD is also a member of the Northwest Open Access Network (NoaNet), a nonprofit corporation that has licensed fiber optic cables from the Bonneville Power Administration and will license fibers from other sources, and will effectively connect PUDs from the states of Washington, Oregon, Idaho and Montana.