AppliedTheory joins with telecommunications providers to restore Manhattan Internet infrastructure

Sept. 24, 2001--AppliedTheory, an Internet knowledge, development and managed hosting partner for large corporations and government agencies, said it fully expects to see a continuation of industry trends toward complex, outsourced managed hosting services.

AppliedTheory (NASDAQ: ATHY), an Internet knowledge, development and managed hosting partner for large corporations and government agencies, said it fully expects to see a continuation of industry trends toward complex, outsourced managed hosting services, and it reiterated that the company's strategic focus will remain on this sector in the economic aftermath of last week's terrorist attacks.

Like other network carriers, AppliedTheory experienced localized network outages caused by infrastructure damage to telecommunications facilities housed in the World Trade Center and Verizon's West Street central office. This situation was addressed by AppliedTheory and Verizon engineers. AppliedTheory management made specific note that Verizon's leadership was key to addressing the difficult and complex situation. At the same time, AppliedTheory immediately began pursuing alternative strategies for restoring service to affected customers as efforts were being made to restore service to the damaged facilities.

AppliedTheory CEO Danny E. Stroud stated that the company's managed hosting services centers suffered no outages due to the terrorist attacks. The company's network, disaster recovery and customer service teams responded quickly and effectively to address a myriad problems relating to the attacks. Many of AppliedTheory's customer sites had extraordinary usage during the last week and at no point were any customer databases or information files at risk, with all data centers remaining fully operational.

About AppliedTheory Corporation:

AppliedTheory builds, integrates and manages Internet business solutions. For more information, visit www.appliedtheory.com.

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