4net Software Agrees to Acquire a Growing Profitable Software Company

Business Wire, July 10, 2001

Business Editors/High Tech Writers

RIDGEFIELD, Conn.--(BUSINESS WIRE)--July 10, 2001

Goal: Expand 4net Software product and service lines

and achieve profitability

4net Software, Inc. (OTC BB: FNSI) signed a letter of intent to acquire a privately held, software company based in the Southwest USA.

For the fiscal year ended October 31, 2000 the software company booked revenues of approximately $2.7 million (Un-audited) and had earnings before income taxes in excess of $500,000 (Un-audited). 4net Software plans to complete the acquisition within the next 90 days. 4net Software expects to finance the cost of the acquisition through debt and equity financing.

The acquisition will increase 4net Software's product line, expand our distribution channels and should provide synergistic opportunities between the products and services provided by the software company and 4net Software. With the completion of the acquisition, management expects 4net Software to report a profit for the next fiscal year, which ends September 30, 2002.

"4net Software's objective is to create value for its shareholders through internal growth and acquisition of niche software companies with revenues and earnings." explains Steven N. Bronson, President of 4net Software, Inc. "The software company has met our acquisition criteria which include, among other things, a sound business model, proprietary technology, proven earnings, and a potential for growth in their existing market."

About 4net Software, Inc.

4net Software, Inc. (OTC BB: FNSI), (http://www.4netsoftware.com/) is engaged in acquiring, managing, and operating niche software and Internet solution companies. 4net Software's objective is to offer businesses a platform of software related products and services. In addition to providing management and financial support, 4net Software also actively develops business strategies, operations, and management teams for its acquired companies.

Currently, 4net Software Inc. provides content management software and develops business-critical Web sites. The company's flagship product, 4netManager(TM), seamlessly bridges the gap between content creation and content delivery by giving non-technical users the ability to update and maintain their own Web site content. The functionality of 4netManager(TM) minimizes the cost of Web site maintenance and improves the process of sustaining a dynamic online presence.

Certain of the statements contained herein are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those included in the forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Factors that could contribute to the uncertainty of forward-looking statements include, but are not limited to, competition for acquisitions, successful integration of acquired companies, and general economic factors such as the ability to obtain financing. 4net Software, Inc. undertakes no obligation to update publicly any forward-looking statements.

For Investor information regarding 4net Software please contact: Traci Faughnan 203-894-9755 tf@ecatf.com.