<PAGE> 1
EXHIBIT 99.1
[PSINET LOGO] NEWS RELEASE
FOR IMMEDIATE RELEASE
Analyst Contact: Media Contact:
David Lerch Doug Baj
703-726-1577 703-726-1431
[email protected] [email protected]
PSINET COMPLETES ACQUISITION OF METAMOR WORLDWIDE
ANNOUNCES METAMOR NAME CHANGE EFFECTIVE IMMEDIATELY
ASHBURN, VA. JUNE 15, 2000 - PSINet Inc. (Nasdaq: PSIX), the Internet Super
Carrier, today announced that it has completed the acquisition of Metamor
Worldwide (Nasdaq: MMWW). Shareholders for each company approved the
agreement in simultaneous special meetings that took place at 10:00 a.m.
U.S. EDT this morning. On March 22, 2000, PSINet announced a definitive
agreement to acquire Metamor Worldwide in exchange for PSINet common
shares.
Metamor Worldwide, based in Houston, Texas, is a leading provider of information
technology (IT) solutions supporting enterprise software and systems
environments and has clients ranging from Fortune 1000 to middle market
businesses. The company offers IT services including eBusiness solutions,
company-wide package software implementation and integration (such as SAP and
Oracle), custom application development and application outsourcing, including
web hosting and Internet network integration.
Effective with the acquisition, PSINet changed the name of Metamor
Worldwide, Inc. to PSINet Consulting Solutions, Inc. and changed the names
of its operating units, to the following:
PSINet Enterprise Solutions Group
PSINet Global Solutions Group
PSINet Industry Solutions Group
With the Metamor acquisition, PSINet now also owns approximately 80 percent of
Xpedior Incorporated (Nasdaq: XPDR), a provider of innovative Internet and web
page design and implementation consulting services. Xpedior is focused on
comprehensive out-bound customer oriented eBusiness solutions for Global 2000
companies and emerging Internet businesses. PSINet holds two seats on the
Xpedior board of directors, and the company operates independently of PSINet.
During the three months prior to closing the transaction, PSINet, Metamor and
Xpedior staff worked closely to introduce the future integrated services to
their combined customer bases. PSINet is known for its high quality global fiber
network, Internet access products, global web hosting facilities and managed web
hosting services, and eBusiness transaction solutions. Metamor is noted for its
enterprise software and consulting skills and Xpedior for its web design
capability and skills.
<PAGE> 2
Headquartered in Ashburn, Va., PSINet is an Internet Super Carrier offering
global eCommerce infrastructure and a full suite of retail and wholesale
Internet services through wholly-owned PSINet subsidiaries. Services are
provided on PSINet-owned and operated fiber, satellite, web hosting and
switching facilities providing direct access in more than 900 metropolitan areas
in 28 countries on five continents. PSINet information can be obtained by e-mail
at [email protected], by accessing the web site at www.psinet.com or by calling in
the U.S. (800) 799-0676.
