Apogee Networks Wins COMNET 2001 New Product Achievement Award.

Business Editors

SADDLE BROOK, N.J.--(BUSINESS WIRE)--Feb. 1, 2001

NetCountant(R) Settlement Honored

For Its Advanced IP Settlement/Revenue-Sharing Capabilities

Apogee Networks, a leading global provider in Content and IP Rating, Billing and Settlement solutions today announced it is a winner in the COMNET 2001 New Product Achievement Awards for its advanced billing and settlement solution - NetCountant(R) Settlement.

Sponsored by InfoWorld, the 10th annual COMNET New Product Achievement Awards recognize the best new products making their public debut at COMNET 2001. The eight categories being judged as best new products or services during COMNET 2001 include Network Management, Carrier or WAN, LAN or Internetworking, Network Infrastructure, Wireless, Software and Applications, Internet/Intranet, and Telephony, Fax of Conferencing.

"This is a tremendous honor for Apogee Networks," said Andrew Burroughs, Apogee Networks' CMO. "The selection of NetCountant Settlement by COMNET is also a clear indication that the Internet industry is evolving to a system of content usage-based billing. A key factor in the development of new Content Revenue and Business models will be the ability to define, measure, rate, settle and bill for content usage. Content usage-based billing and revenue settlement solutions represent the next major development in Internet billing systems."

NetCountant Settlement is a highly scalable, flexible and real-time application that enables content distributors, ASPs, ISPs and carriers to define, rate, process, and settle content on the Internet. NetCountant Settlement allows companies to develop revenue-sharing and settlement systems, thus allowing all parties in the business of creating, distributing and delivering content to be compensated. NetCountant Settlement will also provide revenue-sharing solutions to support Digital Rights Management.

About COMNET

COMNET, produced by IDG World Expo, is the premier conference and expo for companies building business value through intelligent networks. In 2000, more than 450 manufacturers and suppliers of networking and communications hardware, software, services and solutions participated in COMNET. COMNET attracts top executives, planners, builders and buyers of communications networks, both public and private. COMNET - Building Business Value Through Intelligent Networks - will be held January 29 - February 1, 2001 in the Washington D.C. Convention Center. COMNET information is available at http://www.comnetexpo.com or by calling toll free 1-866-COMNETX (1-866-266-6389).

About New Product Achievement Awards

The 10th annual COMNET New Product Achievement Awards, sponsored by InfoWorld, recognizes the best new products making their public debut at COMNET 2001. It is one of the most visible and successful New Product Programs in the industry. Prior to COMNET 2001, a panel of judges evaluated all entries and selected three finalists in each of the 8 categories for a total of 24 finalists. The eight categories being judged are the best new products/service in: Network Management, Carrier or WAN, LAN or Internetworking, Network Infrastructure, Wireless, Software and Applications, Internet/Intranet, and Telephony, Fax or Conferencing. During COMNET, the finalists will be displayed in a special Showcase Area located in the Main Lobby of the Washington, D.C. Convention Center. COMNET attendees will make the final selection by voting electronically for one winner per category. Voting will also be held for the COMNET 2001 Most Innovative New Product or Service as the Grand Prize Winner. The nine winners will be announced at an Awards Ceremony being held Wednesday evening, January 31st.

About Apogee Networks

Headquartered in Saddle Brook, New Jersey, Apogee Networks, Inc. is the recognized leader in developing and deploying advanced Content, and IP Rating, Billing and Settlement solutions for IP Content Distributors, ASPs, ISPs, Carriers, Wireless Internet Providers and Enterprise customers. Apogee Networks' NetCountant(R) product line provides full end-to-end content, revenue settlement and IP billing capabilities. Uniquely, NetCountant Billing provides real-time billing, flexible service creation and high scalability to meet the challenges of rapid customer growth. Apogee Networks' NetCountant Content Collection and NetCountant Settlement platforms provide advanced IP Content aggregation, processing, and revenue settlement capabilities for Content Distributors. NetCountant Accountability provides Global 2000 Enterprise and IP Network customers with the capability to better manage and allocate IP usage thereby realizing significant bandwidth cost savings. The company's products were recently awarded Internet Telephony(R) magazine's Product of the Year Award and Networld+Interop's Best-of-Show Award. Apogee Networks is a Charter member of the Internet Protocol Detail Record (IPDR) Association.

Apogee Networks investors include: Cisco Systems, Fidelity Ventures Limited, Granite Ventures, Oak Partners Investment, INTEL, BBVA, Net One Systems Co., Ltd., CTC, and several private investors. For additional information about Apogee Networks, please call 1-888-APOGEE3 (276-4333), 1-201-368-8800,or email [e-mail] or visit us at http://www.apogeenetworks.com.