NeoSpire Increases Revenue Over 50% in 2001

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March 13, 2002 -- (WEB HOST INDUSTRY REVIEW) -- NeoSpire, Inc. (neospire.net), a provider of Internet

infrastructure managed services, has announced that 2001 revenues grew by

more than 50% over 2000. Also, cashflow grew by more than 50% over last

year's cashflow, allowing NeoSpire to reach a cashflow positive position

August 2001, the company said.

"These increases in a recessionary environment reflect NeoSpire's reputation

in the market place for its value proposition and its commitment to customer

service." Said Derek Wilson, CEO and co-founder. "This past year was

extremely challenging for all business but especially for our industry. Our

growth rate shows us that businesses place a high value in using Web-based

applications for increasing revenue, improving efficiency and taking care of

their customers."

"I am very proud of our team in that we were able to increase sequential

revenue growth while cutting operating expenses," said Mitch Gervis,

president. "In a very difficulty environment we were able to bring on some

very substantial enterprise customers including CellularOne, the United Way,

Brann Forbes and Xerox to name a few. At the same time, we were able to

increase our differentiation in the industry by enhancing our expertise in

managing the J2EE environment, developing robust disaster recovery solutions

and putting in place our STAR customer support procedures. For the rest of

the year, we feel that the business environment is improving and we expect

continued sequential revenue growth and cashflow increases."

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