NEW YORK, Sept. 25, 2002 (PRIMEZONE) -- Exus Networks, Inc. (OTCBB:EXUS) announced today that its wholly owned subsidiary, Exus Afghanistan Ltd., has received permission from the Afghanistan Ministry of Foreign Affairs to open an office and do business in Afghanistan in the fields of Communication and Education. Exus is one of the first 20 foreign firms to receive approval to do business in Afghanistan. Exus is planning to open 10 Educational Centers throughout Afghanistan. Educational content will be delivered via a satellite connection by Exus Shared Satellite Network or via Inmarsat's new mobile satellite terminals, with direct connectivity to the Internet. During the fist year of operation Exus is expecting to provide English courses, business instruction and computer training to 15,000 students. Support and administration of this program will be based out of Exus' Uzbekistan office with participation from Exus' educator partners in the University of Uzbekistan. Educational programs for this area of the world are being supported by various world organizations including the World Bank, NATO, UNDP, EBRD and Asia Development Bank, among others. Exus Afghanistan's first centers will open January 2003 in Kabul and Maszar a Sharif.
"This is a tremendous accomplishment for Exus," commented Mr. Isaac Sutton, Exus' president and chief executive officer. "Exus Educational content, especially our English second language courses, are greatly needed in this area of the world. Everyone involved sees our Educational Centers as a major step in bringing emerging markets into the mainstream of Western Culture and as a bridge between east and west. This is a start to a long presence and gives Exus a foothold in an untapped marketplace where the World Bank has committed over 3 Billion USD in aid over the next 2-3 years."
About Exus Networks, Inc.
Exus Networks is a global provider of a broad array of value-added services, concentrating on Distant Education, delivered via a combined satellite and terrestrially based network. These services are provided to a diverse client base that includes medium to large multi-national businesses, universities, Internet service providers and government agencies. Through service agreements and strategic relationships with satellite network operators, teleport facilities, leading telecommunications partners and the Company's data center in New York, Exus Networks benefits from the growing need for affordable, premium quality, managed data services. This is particularly true in emerging markets, where Exus benefits from being a first-mover advantage. To learn more about the Company, please visit its Website at http://www.exus.net.
The preceding includes forward-looking statements which involve known and unknown risks and uncertainties which may cause the Company's actual results in future periods to differ materially from forecasted results. Forward-looking statements above are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including, without limitation, competition, intellectual property rights, litigation, needs of liquidity, and other risks detailed from time to time in the company's reports filed with the SEC.