Leo J. Hindery Jr., CEO of Global Crossing and Former President and CEO of AT&T Broadband & Internet Services, Named to Katalyst Board of Advisors

Business Wire, May 16, 2000

Business Editors

RADNOR, Penn.--(BUSINESS WIRE)--May 16, 2000

Hindery's Proven Approach to Business Development in the Internet,

Cable and Telecommunications Industries Will Enhance Katalyst's Net

Acceleration(TM) Model

Katalyst, the first Full Service Accelerator(TM)(FSA) providing strategic venture capital and management services to B2B Internet start-ups, announced today that Internet and telecommunications services executive Leo J. Hindery Jr., CEO of Global Crossing Ltd. and chairman and CEO of GlobalCenter Inc., has been named to the Katalyst Board of Advisors. Hindery formerly served as president and CEO of AT&T Broadband & Internet Services.

"I am impressed with the way Katalyst finds Internet B2B companies with great potential and accelerates them to success," Hindery said. "The methodology behind Katalyst's unique Net Acceleration(TM) model, which combines operational expertise and venture capital, is a key growth factor for Katalyst and its portfolio companies. It's my pleasure to be associated with an accelerator of this caliber."

Hindery is a leader in the worldwide telecommunications industry, reflected in his appointment in March as CEO of Global Crossing. In that capacity, he oversees the implementation of the world's first global fiber optic network, serving five continents, 27 countries and more than 200 major cities. He is also CEO of Global Center, an international Internet commerce services and network solutions company, which provides the infrastructure, IP network and IT services required to manage online enterprises.

"Leo was a catalyst behind sweeping changes in the cable television and telecommunications industries, and the list of his business achievements is a testament to his visionary mindset," said Neil Heller, co-chairman and general managing partner of Katalyst. "In his advisory capacity, we will rely on him for intellectual guidance in our continued development of successful B2B Internet businesses."

Until November 1999, Hindery was president and CEO of AT&T Broadband & Internet Services, formed from the merger of Tele-Communications, Inc. (TCI) and AT&T Corp. Previously he served as president of TCI and its affiliated companies, where he is credited with revitalizing the business and industry. Hindery's extensive background also includes leadership positions in the cable system operations, media and investment banking arenas.

Katalyst has accelerated 10 Internet companies since the company's inception, including: Breakaway Solutions (NASDAQ: BWAY), supplyFORCE.com, eRisks.com and InvestorForce.com.

About Katalyst LLC

As the first Full Service Accelerator(TM) (FSA), Katalyst LLC drives rapid growth and value creation for B2B Internet businesses through a unique combination of operational expertise and strategic venture capital. Fueled by investment from its affiliated fund, Katalyst Venture Partners I, LP (KVP I), the firm accelerates portfolio companies through all aspects of planning and implementation to build successful and sustainable Internet businesses. The first organization of its kind, Katalyst's more than 40 industry professionals leverage its proprietary Net Acceleration(TM) methodology to propel their portfolio companies from early stage funding through IPO. Headquartered in the metropolitan Philadelphia area, Katalyst is a privately held firm. For more information about Katalyst, visit http://www.katalyst.com or call 610-975-0640.