Apogee Networks Wins Software Business Magazine's 2001 Software Industry Award.

Business & High-Tech Writers

SADDLE BROOK, N.J.--(BUSINESS WIRE)--May 30, 2001

Apogee Networks' NetCountant(R) Billing Takes Top Honors

for Innovative Solution that Enables Companies to Create

New Revenue and Business Models

Apogee Networks, the global leading provider of Content and IP Rating, Billing and Settlement solutions today announced it has received the 2001 Software Industry Award in the ASP solution category given by Software Business Magazine.

Apogee Networks' NetCountant(R) Billing was honored for its innovative billing and settlement solutions for Content. NetCountant Billing is the only platform that can collect, measure, identify and bill content by type and on a usage basis. It is also the only solution than can scale to handle well over 6 billion Internet content billing records daily per CPU.

The 2001 Software Industry Award recognizes industry-wide leadership with their initiatives and products, distinguishing their brands and strategies from a pool of nominations submitted by many successful software companies. Software Business featured the winning companies in their May issue highlighting the company's award-winning formula for success, as well as CEOs and key personnel behind the business methodologies.

"Apogee Networks really stands out with their Application Service Provider solution because it allows a fast-moving industry -- most notably the ISP, Carrier and ASP sectors of high technology -- to capitalize on business opportunities without investing in huge capital commitments," said John Cargile, managing editor of Software Business magazine." I've been very impressed with the team at Apogee Networks and the managed growth of the company. The technology is top-of-the-line and the company has positioned itself as a leader in the market," said Cargile.

Andrew Burroughs, Apogee Networks' Chief Marketing Officer (CMO)/GM added, "We are honored to receive this award and the recognition it bestows on Apogee Networks' content billing and settlement solutions for ISPs, ASPs Carriers and Wireless Internet providers. As pressure mounts for profitability, content is being viewed as the asset of the Internet. By monitoring content, service providers can create differentiated services that will generate revenues. NetCountant Billing is the only end-to-end solution in the marketplace that enables rapid creation of new billing services and settlement revenue-sharing models."

Apogee Networks products and services have been honored by several top industry awards including Finalist for 2001 NetWorld + Interop Best of Show, 2001 Frost and Sullivan Market Engineering Award for Product Innovation, 2001 OSS Excellence Awards, Finalist/Runner-up, COMNET 2001 New Product Achievement Award, 2000 Communications ASP Product of the Year, 2000 Internet Telephony's Product of the Year Award, 1999 Telecom Business Top 500 Award and 1998 Best of Show NetWorld +Interop Award.

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 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 product recently was awarded and named Finalist at NetWorld + Interop 2001 for Best of Show, 2001 Frost and Sullivan Market Engineering Award for Product Innovation, 2001 OSS Excellence Award, Finalist/Runner-up, COMNET 2001 New Product Achievement Award, Communications ASP 2000 Product of the Year, Internet Telephony magazine's 2000 Product of the Year Award, 1999 Telecom Business Top 500 Award, and 1998 Best of Show NetWorld + Interop Award. Apogee Networks is a charter member of the Internet Protocol Detail Record (IPDR) Association.

Apogee Networks investors include Banc of America Securities LLC, Cisco Systems, Fidelity Ventures Limited, Granite Ventures, Oak Investment Partners, 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 e-mail [e-mail] or visit us at http://www.apogeenetworks.com.