NetCarrier acquires high-speed communications network

Sept. 19, 2001--NetCarrier, Inc., a provider of integrated communications services, announced plans to provide voice and data services to nearly 80 commercial properties in the Philadelphia region.

NetCarrier, Inc., a provider of integrated communications services, announced plans to provide voice and data services to nearly 80 commercial properties in the Philadelphia region.

NetCarrier is acquiring high-speed fiber-optic networks in office buildings in downtown Philadelphia, Malvern, Horsham, the Lehigh Valley and Mt. Laurel, N.J. from UrbanMedia of California. NetCarrier will provide tenants in the buildings with communications solutions, including services such as broadband Internet access and voice communication. NetCarrier paid about $2 million for the UrbanMedia assets, which includes the wiring and equipment in the complexes.

In Center City Philadelphia, NetCarrier will provide service to four high-rise buildings owned by ASI Management that total more than 700,000 square feet of office space. NetCarrier will also serve tenants in more than 3.6 million square feet of office space in complexes owned and managed by Liberty Property Trust. The Liberty Property buildings are located in the Great Valley Corporate Center in Malvern, the Pennsylvania Business Campus in Horsham, the Lehigh Valley Corporate Center in Bethlehem and the Horizon Corporate Center in Mt. Laurel, N.J.

NetCarrier recently received $28 million in funding from Brooks Capital Group of Bala Cynwyd, PA. The company will continue to pursue acquisitions.

About NetCarrier:

Founded in 1996, NetCarrier offers Internet connectivity solutions, from networks for multi-tenant facilities to next generation wireless technologies to dedicated high-speed connections. For more information, visit www.netcarrier.com.

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