A Novo Broadband, Inc. Reports Proposal to Sell Assets.

Business Editors

NEW CASTLE, Del.--(BUSINESS WIRE)--March 28, 2003

A Novo Broadband, Inc. (Pink: ANVB) reported today that it has entered into a non-binding letter of intent to sell substantially all of its assets in a transaction pursuant to ss.363 of the Bankruptcy Code. The proposed sale is subject to certain conditions, including the completion of the buyer's due diligence, the negotiation and execution of a mutually satisfactory asset purchase agreement and the approval of the transaction by the court in A Novo Broadband's pending Chapter 11 case.

William Kelly, A Novo Broadband's President, said the company did not expect to be able to complete reorganization in the Chapter 11 case or to make any distribution to shareholders following the proposed sale or any other asset dispositions. He said the company plans to continue operations and actively seek business pending the sale and that it was the buyer's intention to operate the company's existing facilities and maintain customer and supplier relationships following the sale.

A Novo Broadband provides equipment repair and related services to manufacturers of digital modems and set-top boxes and to cable system operators who utilize the equipment.

This press release includes statements, which constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These statements are identifiable by use of such words as "belief", "expect", "anticipate" or other similar words or phrases that indicate their forward-looking character. Such statements are inherently subject to risks and uncertainties that could cause actual results to differ materially from those anticipated.