4net Software Terminates its Letter of Intent to Acquire Two Related Software Companies

Business Wire,  June 22, 2001  

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Business Editors

RIDGEFIELD, Conn.--(BUSINESS WIRE)--June 22, 2001

Today, 4net Software, Inc. (OTC BB: FNSI) terminated its letter of intent to acquire two related, privately held, software companies based in the Northeast. The Company plans to continue with its business plan and pursue profitable niche software companies for acquisition.

"The Company felt the acquisitions were not in the best interest of the Company given the recent performance trends of the target companies."' said Steven Bronson, president and CEO of 4net Software, Inc. "We are committed to work towards finding future acquisition opportunities and maximize shareholder value."

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.

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.

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