Network Express Inc. announces stock offering

Business Wire, May 18, 1995

ANN ARBOR, Mich.--(BUSINESS WIRE)--May 18, 1995-- Network Express, Inc. (NASDAQ:NETK;VSE:NTK) today announced that it has entered into an underwriting agreement with Unterberg Harris and Furman Selz Incorporated, as reprentatives of the several underwriters, covering the public offering of 2,810,000 shares of its Common Stock, with a price to public of $13.25 per share. Of the 2,810,000 shares covered by the agreement, 2,210,000 shares will be newly issued and sold by the Company and 600,000 will be sold by certain Selling Shareholders. The Company and certain of the Selling Shareholders have granted the several Underwriters an option to purchase up to 421,500 additional shares of Common Stock solely to cover over-allotments, if any.

The Company designs, manufactures and markets data communication hardware and software products that provide high-speed LAN switched access from remote locations using the Integrated Services Digital Network (``ISDN''), a communications protocol that utilizes internationally recognized standards for switched services.

A final prospectus may be obtained from the managing underwriters, Unterberg Harris, c/o 65 East 55th Street, 18th Floor, Park Avenue Tower, New York, New York 10022, and Furman Selz Incorporated, c/o 230 Park Avenue, 13th Floor, New York, New York 10169.

For further information contact:

John R. Ternes

Chief Financial Officer

313/761-5005

4251 Plymouth Road

Ann Arbor, MI 48105

CONTACT: Network Express, Inc., Ann Arbor

John R. Ternes, 313/761-5005