InDigiNet Signs Definitive Commitment Letter With UBC To Acquire 2.5million in Assets and business Interests plus revenues of Universal Broadband Communications

00:00:00 - 11 May 2003

Newport Beach, Calif., May 6 /PRNewswire-FirstCall/ -- InDigiNet, Inc., (OTC Bulletin Board: IGTT - News), a provider of managed communication solutions for Small to Mid-Size Enterprises (SMEs) in the United States, is pleased to announce that it has signed a Definitive Commitment Letter to acquire certain assets along with their million revenue generation rights and assets valued at $2.5 million from Universal Broadband Communications (UBC) in exchange for IGTT restricted common stock.

As part of this transaction, IGTT will be acquiring Clarent routers and gateways. The acquisition also includes other related revenue generation and landing partnership conversion rights that UBC currently has under development.

About InDigiNet, Inc.

InDigiNet, Inc. is an integrated solutions company that provides small to mid-size enterprises (SMEs) with an integrated communication solution. The company will offer data, local, long distance and wireless services to SMEs over third party networks enabling the company to offer a comprehensive suite of services without the capital burden of building a communication network. The company's strategy is to acquire the customer bases of smaller, single market communication companies and attractively priced Internet Service Providers (ISPs). InDigiNet will then expand the breadth of their services to grow revenue and enhance profitability. SMEs account for $120 billion in commercial telephony, data services and technology spending, or 33% of the country's total market and this spending is expected to grow at above average rates over the next ten years.

About Universal Broadband Communications, Inc.

Universal Broadband Communications, Inc. (UBC) is a California-based corporation, with headquarters in Irvine. UBC is a provider of next generation voice and data services to residential and enterprise markets worldwide. This highly aggressive provider offers a full range of services including switched and dedicated services, domestic and global calling cards, toll free international calling, wholesale carrier services, and phone and web conferencing.

About A. G. Spencer Corporation

A. G. Spencer Corporation (AGS) is a multifaceted consulting firm with two powerful divisions along with being the Founding Partner and Operational Management of GaeaCare Syndicate Partners Inc. The consulting division specializes in both private and publicly traded companies. AGS advisors have earned the title Entrepreneur-In-Residence. They are veteran turnaround executives with a broad base of experiences. They have learned the hard way and now they're leveraging those insights to help build robust businesses in virtually every marketplace. GaeaCare is a proactive environmental products and services corporation that intends to become a leading environmental cleanup, emergency response, and environmental remediation company by the use of new computer systems technology, sensor technology, communications technology, systems concepts and microbial environmental cleanup treatment to serve the Homeland Security and environmental industries.

We are excited about the global potential and opportunities that these international VoIP gateways offers us," stated InDigiNet CEO Mark Ellis. "This broadened capability is part of our long-term strategy to provide technology-advantaged end-to-end connectivity. Our goal is to continue to service and support the potential revenue generation agreements that go with the assets being purchased as we integrate the business into ours. The UBC team has done a great job with the assets and inherited prospects. We believe that IGTT will now be able to grow and enhance them into an even more successful endeavor. As always, we are constantly looking for opportunities to broaden our portfolio with innovative products and technologies for our customers.

We're turning Microsoft's plug-and-play theme into a plug-and-generate revenue strategy," stated AGS Chief Consulting Strategist Danny Lee. "This transaction significantly expands IGTT's source of revenue. Indeed, this will not only widen its revenue stream but will also add multiple channels to it. They will gain additional core capabilities and critical mass to support their long-term objectives and ensure their capability to provide best-in-class service at competitive pricing. I ts customers gain the assurance that commitments and high service levels will be maintained. We see this as an excellent opportunity to expand IGTT's SME business at the same time augment their product offering with a global foot print.


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