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To: SSP who wrote (92826)	10/1/2001 11:15:14 AM
From: Jim Bishop	Respond to of 150070

HSAC High Speed Access Corp. CEO Daniel J. O'Brien Provides Additional Comments Concerning Recent Company Developments LITTLETON, Colo., Oct. 1 /PRNewswire/ -- High Speed Access Corp. (Nasdaq: HSAC), President & CEO Daniel J. O'Brien provides the following comments concerning recent company developments: "High Speed Access Corp. today announced the signing of a definitive agreement by which Charter has agreed to purchase substantially all of the assets used by HSA to serve Charter's high-speed data customers. The purchase price for these assets is $81.1 million in cash, subject to certain closing adjustments and indemnity reserves, and the assumption of certain liabilities related to the purchased assets. In addition, all 75,000 shares of our Series D Senior Convertible Preferred Stock currently held by Charter and its affiliate, Vulcan Ventures Incorporated, will be canceled. All warrants currently held by Charter to purchase shares of our common stock will also be canceled. Lehman Brothers, a leading investment banking firm, and the law firm of Weil, Gotshal & Manges LLP have been advising the board. "The board of directors participated in the negotiations and carefully reviewed the terms of this agreement with Charter. Based upon the advice of our advisors, our assessment of our market value and current market conditions, the board has determined that the transaction is fair to and in the best interests of the company. "We continue to reduce our operating costs. We have completed our exit from one-way cable TV markets, and are completing our exit from all two-way cable system agreements except for those with Charter. We have scaled back the operations of Digital Chainsaw, and are actively pursuing its sale. We have also ceased our entry into the DSL market. "At the present time, with the exception of the continuing Charter operations, the wind-down of our non-Charter turnkey and web hosting businesses, the only assets we are operating are those directly related to the provision of international cable-based Internet services to Kabel Nordrhein- Westfalen GmbH. & Co. KG, in Germany. In February of this year we signed the three-year master services agreement with Kabel NRW, which is managed by Callahan Associates International. We are paid on a fee-for-service basis and believe that this business will be profitable in the current year. "Additionally, we have reduced our workforce to include only those employees that Charter has agreed to hire on the closing date, those necessary to operate any assets to be operated as a going concern after the closing and those necessary to effect the orderly wind-down of our remaining assets. "We have not yet made a final determination as to the net effect of this transaction on our ongoing operations and obligations. Our cash requirements will vary based upon certain factors, including the liabilities we incur before and after the closing, the length of time to the closing and our ability to manage the orderly wind-down of our remaining assets." About High Speed Access Corp.: High Speed Access Corp. (Nasdaq: HSAC), a Wired World Company(TM), is a provider of broadband Internet access and related communications services to residential and commercial customers nationwide, primarily through cable modem technology. HSA's core service offering currently consists of cable modem-based Internet access, which HSA offers at several speeds and prices to residential end users through partnerships with cable multiple system operators. Cautionary Note Regarding Forward-Looking Statements about HSA: This press release contains statements about future events and expectations that are "forward-looking statements." Any statement in this press release that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause the company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Specific factors that might cause such a difference include, but are not limited to: the company's uncertain ability to control expenses, particularly in light of the current economic environment and the company's limited capital; the company's history of losses and anticipation of future losses, the potential fluctuations in the company's operating results; disruptions to operations and accounting charges that could occur if the company decided to pursue an acquisition or liquidation; rapid technological change and evolving industry standards in the markets for the company's services; the magnitude of any adjustments or reductions to the proceeds received by the company in connection with the sale of certain of its assets to Charter; the satisfaction of the conditions to, and the timing of, the consummation of the sale of certain of its assets to Charter; whether the company consummates the sale of claim of certain of its assets to Charter; whether the company consummates an extraordinary transaction; and those risks and uncertainties discussed in filings made by the company with the Securities and Exchange Commission. The forward-looking statements in this press release are as of the date hereof and the company assumes no obligation to update these forward-looking statements. MAKE YOUR OPINION COUNT - Click Here tbutton.prnewswire.com SOURCE High Speed Access Corp. -0- 10/01/2001 /CONTACT: Katina Vlahadamis Arnold, Dir. of Media Relations, +1-720-922-2823, kvlahadamis@hsacorp.net, or Ron Dart, Dir. of Investor Relations, +1-720-922-2844, rdart@hsacorp.net, both of High Speed Access Corp./ /Photo: NewsCom: newscom.com AP Archive: photoarchive.ap.org PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840/ (HSAC) CO: High Speed Access Corp.; Charter; Vulcan Ventures Incorporated; Kabel Nordrhein-Westfalen GmbH. & Co. KG; Kabel NRW; Callahan Associates International ST: Colorado, Germany IN: CPR MLM SU: TNM PER * end of story *

To: SSP who wrote (92826)	10/1/2001 11:19:41 AM
From: Jim Bishop	Read Replies (1) \| Respond to of 150070

BLD.T Ballard Strengthens Relationship with EBARA and Simplifies Stationary Alliance VANCOUVER, B.C.--(BUSINESS WIRE)--Oct. 1, 2001--Ballard Power Systems (``Ballard'')(NASDAQ:BLDP - news; TSE:BLD. - news) announced today that it has signed a Memorandum of Understanding (``MOU'') with EBARA Corporation (``EBARA'') to enhance their strategic relationship and simplify their stationary power alliance. Under the MOU, Ballard will acquire EBARA's interest in Ballard Generation Systems (BGS), Ballard's stationary power products subsidiary. The MOU is consistent with Ballard's plans to enhance its ownership of BGS and streamline the development of Ballard's commercial stationary power generators. Ballard will purchase EBARA's interest in BGS for US$35.8 million, through the issue of Ballard's common shares (based on the 10-day average closing price of Ballard's shares on NASDAQ, ending three days before closing). EBARA has agreed to not sell the Ballard common shares for a period of four years. The transaction is expected to close in November 2001, subject to the completion of formal documentation and regulatory approvals. The acquisition of EBARA's interest in BGS is part of Ballard's strategy to simplify its corporate and operational structure and enhance its ability to leverage product development investments across markets. This will enhance the development of commercial stationary fuel cell generators. EBARA's and BGS's jointly held company, EBARA BALLARD Corporation (EBC) based in Japan, will continue to be owned as to 51 percent by EBARA and 49 percent by BGS. However, its development activities will be enhanced and more fully integrated with BGS's activities. EBARA BALLARD has exclusive manufacturing and distribution rights for Ballard's fuel cell stationary power generators in Japan. EBC is developing distributed power generation products for both residential and commercial consumers and anticipates launching its first product in 2004. ``EBARA is a key strategic partner for the commercialization of our stationary power generators. Enhancing our relationship with EBARA allows us to work together more efficiently to bring products to market,'' said Jim Kirsch, President of Ballard Generation Systems. ``It also reflects that Ballard and EBARA have expanded their relationship beyond stationary power generators to include co-operation on the development of components for fuel cells and fuel cell systems.'' ``We see PEM fuel cells revolutionizing power generation in the coming years and Ballard and EBARA being identified with that revolution,'' said Mr. Hiroyuki Fujimura, Chairman of EBARA. ``Our ability to work together will be strengthened by the enhanced relationship we are putting in place today. We see EBARA BALLARD becoming the pre-eminent fuel cell power generator manufacturer in Japan.'' ``We are always looking at ways to simplify our business and enhance our ability to bring commercial products to market,'' said Firoz Rasul, Ballard Power Systems' Chairman and Chief Executive Officer. ``While we execute on our plan to simplify our stationary power alliance, we have been able to strengthen our relationship with EBARA and enhance EBARA BALLARD and our stationary power business.'' BGS was formed in 1996 to commercialize PEM fuel cell stationary power generators that use the BALLARD® fuel cell. Following this transaction, Ballard Power Systems will own 81.6 percent of BGS. The remaining shares of BGS are held by ALSTOM France S.A. EBARA Corporation is globally recognized as a major developer, manufacturer and distributor of fluid machinery and systems, precision machinery and environmental engineering systems and as a leader in zero-emission energy technology. Ballard Power Systems is recognised as the world leader in developing, manufacturing and marketing zero-emission proton exchange membrane (``PEM'') fuel cells for use in transportation, electricity generation and portable power products. Ballard Power Systems' proprietary fuel cell technology is enabling automobile, electrical equipment and portable power product manufacturers to develop environmentally clean products for sale. The fundamental component of these end-user products is the BALLARD® fuel cell that combines hydrogen (which can be obtained from methanol, natural gas, petroleum or renewable sources) and oxygen (from air) without combustion to generate electricity. Ballard is partnering with strong, world-leading companies, including DaimlerChrysler, Ford, ALSTOM and EBARA, to commercialise BALLARD® fuel cells. Ballard has also supplied fuel cells to Honda, Nissan, Volkswagen, Yamaha, Cinergy, Coleman Powermate and Matsushita Electric Works, among others. This release contains forward-looking statements reflecting Ballard's current expectations as contemplated under the Safe Harbor provisions of the US Private Securities Litigation Reform Law of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, product development delays, changing environmental regulations, the ability to attract and retain business partners, future levels of government funding, competition from other fuel cell manufacturers, competition from other advanced power technologies, competition from existing power technologies, evolving markets for generating electricity and power for transportation vehicles, and the ability to provide the capital required for product development, operations and marketing. These factors should be considered carefully and readers should not place undue reliance on Ballard's forward-looking statements. Investors are encouraged to review the section titled ``Operating Results, Capital Requirements and Risks'' (pages 41 to 46) in the Management's Discussion and Analysis section of Ballard's 2000 Annual Report for a more complete discussion of factors that could affect Ballard's future performance. EBARA's Common shares are listed on the Nikkei exchange under the trading symbol ``EBARA''. Ballard's Common shares are listed on The Toronto Stock Exchange under the trading symbol ``BLD'' and on the Nasdaq National Market System under the symbol ``BLDP.'' Ballard, the Ballard logo and Power to Change the World are registered trademarks of Ballard Power Systems Inc. -------------------------------------------------------------------------------- Contact: Ballard Power Systems Inc. Michael Rosenberg, 604/412-3195 Fax: 604/412-3100 E-mail: investors@ballard.com Website: www.ballard.com or Ballard Power Systems Inc. Debby Harris, 604/412-4740 Fax: 604/412-3100 or EBARA Corporation Yoshio Muraki, Fax: 81/3 3745 3003 E-mail: yoshio.muraki@ebara.co.jp or EBARA Corporation Hisashi Iijima, General Manager, Fuel Cell, Fax: 81/3 5461 5057 (FAX) E-mail: iijima06@shi.ebara.co.jp