00:00:00 - 24 May 2004

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Stamford, CT – Monday, May 24, 2004 – Press Release The Babcock Group has been retained by a Northeastern Internet Services Provider (the “Company”) to act as exclusive financial advisor to the Company as it explores its strategic alternatives. The Babcock Group will target a universe of strategic and financial investors which have an expressed interest in making investments in emerging communications services providers, particularly those which provide Internet Access and Web Hosting.

The Company is a full service provider of Internet communications services, products and solutions to approximately 20,000 consumers and small and medium-sized businesses. The Company had revenues of approximately $7.5 million and EBITDA of $1.5 million for 2003, with substantial synergies available to a strategic partner with overlapping network assets. Its product portfolio includes dialup and broadband Internet access, web hosting, website development and other value added services.

Any party interested in considering a transaction concerning this Company should contact The Babcock Group at (800) 495-5228 or via email at info@babcockgroup.com.

The Babcock Group is a private investment firm providing a comprehensive array of financial services to middle market companies. The principals of The Babcock Group have originated and executed more than $100 billion of financing and strategic transactions during their tenure on Wall Street. They are dedicated to bringing their breadth and depth of experience to bear to the benefit middle market companies. With a portfolio of capabilities that includes Financial Advisory, Mergers and Acquisitions, Private Placements of Debt and Equity, Restructuring and Turnaround Services, Principal Investments, Valuation Services and Research. The Babcock Group provides a one-stop shop for clients seeking sophisticated strategic and financial advice. www.babcockgroup.com

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