Exhibit 99.1 Press Release
FOR IMMEDIATE RELEASE
CONTACT:
Bob Bannon Jennifer Haas
Director, Investor Relations Communications Coordinator
Net2000 Communications, Inc. Net2000 Communications, Inc.
703-654-2000 703-654-2000
[email protected] [email protected]
Net2000 Acquisition of Frebon International Corporation Completed
High-End Video Applications Added to Net2000 Bundle of Services
Herndon, VA (July 10, 2000) -- Net2000 Communications, Inc. (Nasdaq: NTKK), an
innovative provider of integrated broadband telecommunications services to
medium and large businesses, today announced it closed on the acquisition of
FreBon International Corporation (FreBon), a privately-held provider of
interactive video services headquartered in McLean, Virginia, on Friday, July 7.
About Net2000 Communications, Inc.:
Net2000 is an innovative provider of broadband data and voice telecommunications
services to businesses across the United States. Net2000 provides premium
quality local, long distance, data, voice and Internet access services delivered
over a single broadband connection and billed on a single invoice. Net2000
currently operates sales offices in Boston, Providence, New York City, Long
Island, Northern New Jersey, Baltimore, Herndon, Richmond and Virginia Beach.
For more information about Net2000 Communications, Inc., please visit
www.net2000.com or call 800-825-2000. For Investor Relations, contact Bob
Bannon at 703-654-2222 or [email protected].
-------------------
About FreBon International Corporation
FreBon is an Inc. 500 corporation and a preeminent leader in the network
integration of voice, video, data and Internet-based technologies for
commercial, healthcare, legal, educational and insurance markets both
domestically and internationally. For more information on FreBon's services and
capabilities, visit its web site at www.frebon.com.
-MORE-
<PAGE>
Page 2 / FreBon Intl
Under the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995, Net2000 cautions investors that any forward-looking statements or
projections made by the company, including those that may be made in this press
release, are based on management's expectations at the time they are made, but
they are subject to risks and uncertainties that may cause actual results to
differ materially from those projected. Net2000's future results may be impacted
by factors such as technological changes, market acceptance of the company's
existing and new services, Net2000's ability to continue to expand and fund its
network, Net2000's ability to successfully integrate its acquisition of FreBon
International Corporation, general economic conditions, regulatory and
legislative developments, and competitive market pressures. Net2000's future
results also may be impacted by other risk factors listed in its registration
statement dated March 6, 2000 and periodic reports filed with the Securities and
Exchange Commission. By making these forward-looking statements, Net2000
undertakes no obligation or intention to update these statements
