Data Return Corporation Announces Initial Public Offering

Business Wire, Oct 28, 1999

DALLAS--(BUSINESS WIRE)--Oct. 28, 1999--

Data Return Corporation (Nasdaq:DRTN) announced that it commenced today its initial public offering of 6,250,000 shares of its common stock at a price of $13.00 per share through an underwriting group lead managed by Bear, Stearns & Co. Inc. and co-managed by CIBC World Markets Corp., Thomas Weisel Partners LLC and Wit Capital Corporation.

All of the shares were sold by the Company. The Company has granted the underwriters an option to purchase an additional 937,500 shares of common stock solely to cover over-allotments, if any.

A copy of the prospectus may be obtained from Bear, Stearns & Co. Inc., 245 Park Avenue, New York, New York 10167, Attention: Prospectus Department, or by faxing a written request to 516/254-7410; from CIBC World Markets, One World Financial Center, New York, New York 10281; from Thomas Weisel Partners LLC, One Montgomery Street, San Francisco, California 94104; or from Wit Capital Corporation, 826 Broadway, 6th Floor, New York, New York 10003.

A registration statement relating to these securities was filed and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state.

Data Return Corporation provides advanced Internet hosting services based on technologies developed by Microsoft. The Company's advanced hosting services enable its customers to establish and maintain sophisticated e-commerce and other applications through which they can conduct transactions and manage information on a worldwide basis over the Internet.