Court Awards Universal Access Insolvent Telecom's Previous Customers Due to Universal Access' CORE Offering.

Business/Technology Editors

CHICAGO--(BUSINESS WIRE)--Aug. 2, 2001

-- Universal Access' CORE product offering stands out as way

for restructuring, reorganizing companies to

efficiently, cost-effectively continue service to customers --

In an act that effectively validates Universal Access' CORE strategy, Judge Stephen S. Mitchell of the U.S. Bankruptcy Court for the Eastern District of Virginia signed an order transferring to Universal Access Inc., a provider of network infrastructure services and a subsidiary of UAXS Global Holdings (NASDAQ: UAXS), circuits from Pathnet Telecommunications Inc. and Pathnet Inc., each of which filed bankruptcy protection earlier this year. The transferred contracts have an initial contract value of more than $2.6 million in revenue to Universal Access.

To secure the order, the court had to be satisfied that Universal Access could provide adequate assurance of its future performance, which included accepting the current business from Pathnet and maintain those circuits without disruption to Pathnet's former underlying customers. Universal Access has this ability due to its CORE strategy and transfer product offering that can quickly analyze large numbers of off-net circuits and optimize those circuits for the customers' best interest. Universal Access has this superior ability due to its Universal Information Exchange(TM) (UIX) database, which contains millions of information bits on every major carrier and gives the company a birds-eye view of existing networks. Access to this level of detailed information, when combined with Universal Access' industry-contractual relationships and superior provisioning resources, ensures Universal Access can successfully optimize any network structure.

"Transfer is a unique product offering under our CORE initiative that supports the telecommunications industry as a whole. With this product Universal Access is able to support enterprise corporations as well as traditional telecommunications companies. We offer our customers multiple management options for their network infrastructure and provide cost-saving alternatives," stated Ken Napier, SVP of Client Services - CORE, Universal Access. "Ultimately, we give them distinctive advantages that protect their interest and those of their underlying customers."

Pathnet originally approached Universal Access to help Pathnet optimize its installation base and streamline its costs. Universal Access offered Pathnet cost-saving services that included reviewing Pathnet's contracts and circuits, both off-net and on-net, and presenting ways the company could best aggregate or optimize those.

"Through this transfer, Universal Access has proven its ability to support Pathnet's restructuring efforts by accepting a number of the company's customers and ensuring that they experience no disruption, receive equal or higher service and continue operations," said Mr. Napier. "Universal Access is dedicated to giving Pathnet's previous customers the highest level of service."

Universal Access' CORE strategy relies on tighter integration or alignment with customers to maximize the company's ability to provide a single, end-to-end source for all provisioning services. Under CORE, the company is targeting three types of opportunities that will allow it to better penetrate and serve each account:

    -   Transfer of existing circuits: Assign over to Universal Access
        existing circuits to improve efficiency, eliminate
        multi-vendor management, streamline billing, provide one-call
        resolution of network issues and lower costs

    -   Backlog of circuits: Address backlogged circuits that are not
        generating revenue to help customers improve customer
        satisfaction, realize revenue faster, decrease operational
        expense and extend network reach without huge capital outlays

    -   New business: Continue to deliver end-to-end circuit
        provisioning services for new orders to deliver faster speed
        to revenue, eliminate provisioning headaches, offer
        single-source delivery and extend network reach without
        capital expenditures

About Universal Access

Universal Access, a subsidiary of UAXS Global Holdings, is the only company capable of interconnecting thousands of telecom networks so telecommunications, Internet and application service providers can speed up the delivery of voice and data services worldwide, helping them generate revenues faster while minimizing operational and capital expenditures. Universal Access combines its unique and powerful database that provides a birds-eye view of virtually every major supplier's network and its strategically positioned interconnection facilities to supply complete turnkey solutions known as UniversalNET(SM) solutions. UniversalNET enables service providers to quickly and more efficiently control procurement, management, billing and operations of high capacity private line circuits from multiple vendors. Universal Access is headquartered in Chicago, Illinois and has regional offices in Herndon, Virginia, Santa Clara, California, London, England, and Amsterdam, the Netherlands. Visit www.universalaccess.net for more information.

Safe Harbor Statement under the Private Securities Litigation

Reform Act of 1995.

This release contains forward-looking statements based on current expectations, forecasts and assumptions, including but not limited to statements regarding the intention to obtain sales through the CORE initiative and optimize circuit routing by using UIX databases. Actual results may differ materially from those anticipated in any forward-looking statements as a result of certain risks and uncertainties including, without limitation, potential inability to maintain and expand UIX databases, difficulties or delays in provisioning circuits, the fact that clients may withdraw an order with minimal liability before accepting a circuit, the difficulty of attracting new clients or increasing sales to existing clients, difficulties or delays in building or operating UTX facilities and deploying optical switches, and the need to raise additional capital. For other risks and uncertainties applicable to the Company's business refer to the Company's Securities and Exchange Commission filings. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this paragraph.