Internap Finalizes Reorganization and Cost Reduction Measures

Apr 23, 2001, 01:00 ET from Internap Network Services Corporation

    SEATTLE, April 23 /PRNewswire Interactive Press Release/ --
 Internap Network Services (Nasdaq:   INAP), the leading intelligent routing
 services provider, announced its final cost cutting measures that include the
 elimination of 118 positions from its ranks today in addition to the
 previously announced 65 cuts.
     "Though resulting in more conservative fiscal management, these
 reorganization and cost-reduction efforts will not reduce our ability to grow
 the business or provide what has become recognized as the best IP connectivity
 service and support in the industry," said Tony Naughtin, President and CEO of
 Internap Network Services.  "These changes provide Internap with greater
 overall efficiency and financial muscle, and help ensure not only our
 long-term ability to serve our growing customer base, but to launch new
 services that will enable the enterprise to use the Internet more
 efficiently."
     Internap will address these changes, along with its performance during the
 first quarter, during its quarterly earnings call scheduled for Tuesday,
 April 24 at 5:00 p.m. EDT, 2:00 p.m. PDT.  The dial-in numbers are
 888-790-1711 for domestic calls and 312-470-0009 for international calls. The
 passcode is Internap, and no RSVP is required. The replay numbers are
 888-325-4186 for domestic calls and 402-998-1251 for international calls.  No
 passcode required.  A live webcasting of the call will also be made available.
 Please see our website www.internap.com for the hyperlink or for further
 information.
 
     About Internap
     Founded in 1996 in Seattle, Internap provides Internet connectivity that
 is faster and more reliable than conventional Internet service. Internap's
 patented route management technology provides direct data transmission across
 the major Internet backbones through a single connection from a customer's
 network to one of Internap's Service Points. Internap's customers bypass
 congestion points on the Internet, avoiding packet loss, latency and other
 difficulties that can plague conventional Internet connectivity. Internap
 services are currently available in numerous key markets throughout the
 United States including Atlanta, Boston, Chicago, Los Angeles, New York, San
 Jose and Seattle. Major companies and networks served by Internap include The
 Nasdaq Stock Market, Datek Online, Colgate Palmolive, Earthlink, Travelocity
 and many others. Internap(R) and P-NAP(R) are registered trademarks of
 Internap. All other trademarks and brands are the property of their respective
 owners. For more information, visit www.internap.com.
 
     "Safe Harbor" Statement
     This release may contain projections or other forward-looking statements
 that involve risks and uncertainties. Readers are cautioned that these
 statements are only predictions and may differ materially from actual future
 events or results. Readers are referred to the documents filed by Internap
 with the SEC, specifically its most recent annual report on Form 10-K and any
 later periodic reports, which identify important risk factors that could cause
 actual results to differ from those contained in the forward-looking
 statements, including, among other things, Internap's history of operating
 losses and expected future losses, Internap's limited operating history,
 fluctuations in Internap's quarterly operating results, Internet
 infrastructure and regulatory changes, volatility of stock price, deployment
 of new Service Points, integration of acquired businesses and rapid
 technological and market change. All forward-looking statements are based on
 information available to Internap on the date hereof, and Internap assumes no
 obligation to update such statements.
 
     CONTACT:  Investors, Paul Mondschein, 206-504-5487, or
 pmondschein@internap.com, or Media, Bill Hankes, 206-262-3737, or
 bhankes@internap.com, both of Internap Network Services; or
 Deborah Kazenelson of Smith Public Relations, 310-788-0456, or
 deborah@smith-pr.com, for Internap.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X25806143
 
 

SOURCE Internap Network Services Corporation
    SEATTLE, April 23 /PRNewswire Interactive Press Release/ --
 Internap Network Services (Nasdaq:   INAP), the leading intelligent routing
 services provider, announced its final cost cutting measures that include the
 elimination of 118 positions from its ranks today in addition to the
 previously announced 65 cuts.
     "Though resulting in more conservative fiscal management, these
 reorganization and cost-reduction efforts will not reduce our ability to grow
 the business or provide what has become recognized as the best IP connectivity
 service and support in the industry," said Tony Naughtin, President and CEO of
 Internap Network Services.  "These changes provide Internap with greater
 overall efficiency and financial muscle, and help ensure not only our
 long-term ability to serve our growing customer base, but to launch new
 services that will enable the enterprise to use the Internet more
 efficiently."
     Internap will address these changes, along with its performance during the
 first quarter, during its quarterly earnings call scheduled for Tuesday,
 April 24 at 5:00 p.m. EDT, 2:00 p.m. PDT.  The dial-in numbers are
 888-790-1711 for domestic calls and 312-470-0009 for international calls. The
 passcode is Internap, and no RSVP is required. The replay numbers are
 888-325-4186 for domestic calls and 402-998-1251 for international calls.  No
 passcode required.  A live webcasting of the call will also be made available.
 Please see our website www.internap.com for the hyperlink or for further
 information.
 
     About Internap
     Founded in 1996 in Seattle, Internap provides Internet connectivity that
 is faster and more reliable than conventional Internet service. Internap's
 patented route management technology provides direct data transmission across
 the major Internet backbones through a single connection from a customer's
 network to one of Internap's Service Points. Internap's customers bypass
 congestion points on the Internet, avoiding packet loss, latency and other
 difficulties that can plague conventional Internet connectivity. Internap
 services are currently available in numerous key markets throughout the
 United States including Atlanta, Boston, Chicago, Los Angeles, New York, San
 Jose and Seattle. Major companies and networks served by Internap include The
 Nasdaq Stock Market, Datek Online, Colgate Palmolive, Earthlink, Travelocity
 and many others. Internap(R) and P-NAP(R) are registered trademarks of
 Internap. All other trademarks and brands are the property of their respective
 owners. For more information, visit www.internap.com.
 
     "Safe Harbor" Statement
     This release may contain projections or other forward-looking statements
 that involve risks and uncertainties. Readers are cautioned that these
 statements are only predictions and may differ materially from actual future
 events or results. Readers are referred to the documents filed by Internap
 with the SEC, specifically its most recent annual report on Form 10-K and any
 later periodic reports, which identify important risk factors that could cause
 actual results to differ from those contained in the forward-looking
 statements, including, among other things, Internap's history of operating
 losses and expected future losses, Internap's limited operating history,
 fluctuations in Internap's quarterly operating results, Internet
 infrastructure and regulatory changes, volatility of stock price, deployment
 of new Service Points, integration of acquired businesses and rapid
 technological and market change. All forward-looking statements are based on
 information available to Internap on the date hereof, and Internap assumes no
 obligation to update such statements.
 
     CONTACT:  Investors, Paul Mondschein, 206-504-5487, or
 pmondschein@internap.com, or Media, Bill Hankes, 206-262-3737, or
 bhankes@internap.com, both of Internap Network Services; or
 Deborah Kazenelson of Smith Public Relations, 310-788-0456, or
 deborah@smith-pr.com, for Internap.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X25806143
 
 SOURCE  Internap Network Services Corporation