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NxGen (TM)
NETWORKS
NEWS RELEASE
NxGen Networks, Inc. Announce Stock Split
November 27, 2000
Denver, Colo.-- NxGen Networks, Inc. (OTC.BB NXNW) today announced that its
Board of Directors has approved a two-for-one split of the Company's outstanding
shares of Common Stock. The split will entitle each stockholder of record at the
close of business on December 7, 2000, to receive one share for every share of
Common Stock held on the record date.
NxGen's Common Stock will begin trading on a post-split basis effective December
8, 2000.
"The stock split represents the Board's confidence in the Company's fundamental
performance, " said Mark Sampson, Chairman and Chief Executive Officer of NxGen
Networks, Inc. "This will also benefit the shareholders by increasing the
marketability of the Common Stock, therefore causing stability in the price, and
the broadening of its distribution."
NxGen Networks, Inc. is a global telecommunications company, which integrates
the latest in next generation voice and data switching technologies into a
single high speed IP/ATM network. The network provides advanced voice and data
services impossible to recreate with traditional circuit switching technology
for Fortune 5000 Companies, Enhanced Service Resellers, Long Distance Carriers,
Competitive Local Exchange Carriers (CLECs), Applications Services Providers
(ASPs) and large Internet Service Providers (ISPs). For additional information
about NxGen Networks, visit the company's Web site at www.nxgennet.com.
This press release includes forward-looking statements. Investors are cautioned
that all forward-looking statements contain risks and uncertainties. Certain
factors, many of which are beyond the control of the Company, could cause actual
results to differ materially from those contemplated by forward looking
statements. There can be no assurance that actual results, events or
developments will occur or be realized as contemplated by such forward looking
statements.
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For more information:
Sherri Hughes-Smith
NxGen Networks, Inc.
(303) 839-9150
[email protected]
