Celerity’s Mark Benham Joins Peer 1 Network Board of Directors

October 10, 2005; 07:01 AM

VANCOUVER, BRITISH COLUMBIA – October 10, 2005 – Peer 1 Network Enterprises, Inc. (TSX-V:PIX), a leading provider of Internet infrastructure, announced that Mr. Mark Benham of Celerity Partners has joined the company’s board of directors. The co-founder and managing partner of Celerity adds 15 years of private equity experience to the board, and increases the number of Peer 1 board members from five to six.

“We are delighted to gain the knowledge, contacts and insight that Mark will provide to the board of Peer 1,” said Geoff Hampson, Peer 1 Network’s president and CEO. “Having Celerity as an investor and Mark on the board reinforces Peer 1’s evolution into a leading player in the North American Internet infrastructure outsourcing market and the company’s access to outside institutional capital that will facilitate our continued growth. Mark will be instrumental in assisting Peer 1 to develop and implement a corporate development strategy which among other things will include continued growth through acquisitions.”

Since Mr Benham co-founded the firm in 1995, Celerity Partners has been involved in transactions aimed at building category-dominant companies exceeding US$2 billion in value.  Celerity has approximately $200 million of capital under management and limited partners including GE Capital, Alliance and PWC.  From 1988 to 1992 he was a senior investment officer of Citicorp Venture Capital, Ltd. in New York and before that he was an advisor to Yamaichi UniVen Co. Ltd., the venture capital subsidiary of Yamaichi Securities International, with US$180 million under management.  Mr Benham is currently a director of a number of private companies including Goldhil Entertainment, NuVisions, OPremium Waters and Verari Systems.  

About Peer 1 Network
Peer 1 Network, a leading Internet infrastructure provider, delivers client-centric solutions that ensure customers’ online presence is available 100% of the time. From colocation and self-managed dedicated servers to complex managed hosting, Peer 1 has a solution to meet the online needs of all types and sizes of customers.  Since its inception in 1999, the company has grown to include data centers and network points of presence in 16 major cities across North America and Europe, all connected by Peer 1’s world class IP network.  Peer 1 serves a variety of customers including hosting providers, online gaming companies, Internet phone (VoIP) companies and many small and medium sized businesses. The company’s headquarters are in Vancouver, Canada and the stock is traded on the TSX Venture exchange under the symbol PIX. For more information visit www.peer1.net.