CYNET, Inc. Agrees to Extend and Modify Definitive Agreement to Sell Its Fax Broadcasting Business.

Business Editors

HOUSTON--(BUSINESS WIRE)--Feb. 2, 2001

CYNET, Inc., (OTCBB: CYNE), a leading provider of convergent messaging technology, today announced that it has agreed to modify the previously announced definitive agreement with I-Media Group, Inc. to sell CYNET's fax broadcasting business unit and extend the closing date for the transaction. In exchange for payment to CYNET, Inc. of a non-refundable fee, I-Media Group will have until March 15, 2001, to close the transaction on the terms previously announced or on other terms acceptable to CYNET, Inc. I-Media Group, Inc. is a wholly owned U.S. subsidiary of IMEDIA Group, the largest provider of electronic messaging services in France.

About CYNET

Headquartered in Houston, TX, CYNET, Inc. specializes in providing convergent messaging technology that simplifies business communications such as e-mail, fax and voice messaging. The company increases productivity for its customers by providing customized solutions that integrate dialer and messaging software, Internet applications and wireless tools. For more information, visit CYNET's Web site at www.cynetinc.com or call 1 [phone].

This press release may contain forward-looking statements with respect to operations, assumptions, the financial condition and future performance of the Company. Additional information on risk factors that could potentially have a material impact on the Company's operations and financial position, as well as risk factors relating to the management of the Company, is contained in the Company's filings with the Securities and Exchange Commission.