FastComm Announces Full Commercial Availability of the ChanlComm 7790 Communications Controller.

Business Editors/High Tech Writers

DULLES, Va.--(BUSINESS WIRE)--July 24, 2000

ChanlComm(R)7790 Communications Controller ready for

immediate shipment to domestic and international customers

FastComm Communications Corporation (OTC BB: FSCX) today announced that the ChanlComm(R) 7790 Communications Controller is ready for its commercial debut in the IBM and IBM-compatible mainframe marketplace.

This announcement has been eagerly anticipated in recent months. Revenues will be generated immediately as standing orders begin shipping.

Peter Madsen, FastComm President and CEO pointed out that the release of the ChanlComm(R) 7790 was one of the key goals listed in his letter to shareholders last year. "We are very pleased to announce that we have accomplished this goal," says Madsen. "We spent $2 million developing the ChanlComm(R) 7790. It's a sophisticated product that we're proud of, and we expect it to do well based on initial feedback from our pilot customer."

With the release of the ChanlComm(R) 7790, FastComm will now begin generating a return on this investment. FastComm, along with outside researchers, has performed extensive market research that indicates substantial opportunities for the ChanlComm(R) 7790.

According to Dr. Kenneth A. Bloom, Vice President of FastComm's Mainframe Networking Division, "One of our major customers served as the pilot location for the ChanlComm(R) 7790. The customer reports that the product is performing flawlessly." Bloom further stated that this customer, who had upgraded from the ChanlComm(R) 7745, the 7790's predecessor, was "extremely pleased" with the improved performance, added functionality, and stability of the product. "We believe the ChanlComm(R) 7790 is superior in many respects to our competitors' offerings, in terms of cost savings and ease of use," adds Bloom.

The ChanlComm(R) 7790 gives the IBM mainframe user the ability to perform high speed SNA/SDLC/Bisync and LAN communications without the need for a traditional front-end processor or associated costly software products. A major billion-dollar food distribution company headquartered in metropolitan NY, with over 30 offices throughout the U.S., agreed to be the pilot user and rigorously put the ChanlComm(R) 7790 through its paces with excellent results.

The ChanlComm(R) 7790 connects directly to IBM and IBM-compatible mainframes, providing full communications between the mainframe and the remote network. It provides a customer with the ability to make additions or changes to its SNA, Bisync, and PU4 communications networks, thereby circumventing the need for costly licensed SNA software from IBM. Savings from eliminating the software licensing fees can amount to over $25,000 per year. The ChanlComm(R) 7790's robust architecture allows four units to be stacked, providing up to 256 lines operating at full T1/E1 speed simultaneously. Changes and reconfigurations can be performed while the equipment is fully operational -- no need to bring the entire network down for maintenance.

FastComm is launching the ChanlComm(R) 7790 Communications Controller with a live exhibition at the SHARE Technology Exchange, July 24-26, at the Hynes Convention Center, Boston MA. The SHARE show, which features a limited number of exhibitors, is targeted specifically towards the IBM user community.

About FastComm

FastComm Communications ( www.fastcomm.com ) is a complete signaling, voice and data system solution provider, offering innovative signaling interoperability solutions that include support for SS7, C7, ISDN, C5, R1, R2, and DTMF. FastComm also provides advanced IP and data solutions over Frame Relay and xDSL such as voice/data Integrated Access Devices (IADs) and IBM data center products.

Forward looking with a corporate goal to provide customers with leading edge technology and cost-effective means of incorporating these technologies into existing or new networks, FastComm is positioning itself at the forefront of the evolving converged networks.

Forward-looking statements are made in this release pursuant to the safe harbor provisions of the Private Securities Litigation reform Act of 1995. Investors are cautioned that all forward looking statements are subject to risk and uncertainties, including, without limitation, the timing of new announcements or introductions by the company and its competitors, the hiring and retention of key employees, competitive pricing pressure, dependence on third parties for components and products, and general economic conditions in the United States and international markets, and the risk factors detailed from time to time in the Company's periodic reports and registration statements filed with the Securities and Exchange Commission.