Genuity Exchange Offer for Integra a Success; Genuity Receives 75 Percent of Integra Shares Outstanding.

Business/Technology Editors

PARIS & WOBURN, Mass.--(BUSINESS WIRE)--Aug. 24, 2001

Genuity Inc., a leading global eBusiness network provider (NASDAQ: GENU), and Integra S.A., a premier European provider of managed hosting and eBusiness solutions (IEA NM or INTG NM), today announced that Genuity has succeeded in its amicable exchange offer for Integra, receiving approximately three quarters of Integra's 45 million shares outstanding. Earlier today, the Conseil des Marches Financiers (CMF) released the official results of the offer announcing that Genuity has received approximately 75 percent of Integra shares outstanding and at least 70 percent of Integra's voting power.

"We are extremely pleased with the results of our exchange offer and believe that the combination of Integra and Genuity represents an exceptional opportunity to become a global leader in managed Web hosting and integrated eBusiness solutions," said Paul R. Gudonis, Genuity chairman and CEO. "Expanding our presence in Europe enables us to meet the increasing demand among European enterprises and multinational companies for complete, world-class eBusiness solutions."

Under a recently adopted French tender offer regulation, Genuity has the option to re-open the exchange offer for an additional period of at least 10 trading days and enable additional Integra shareholders to tender their shares. Genuity has yet to make a formal decision regarding this option. Such a decision must be made within two weeks. The details of any re-opened exchange offer would be set forth in a future announcement by Genuity. In accordance with the terms of the exchange offer, Integra shareholders would receive three shares of Genuity Class A common stock in exchange for four Integra shares.

Andy McLeod, CEO of Integra, added, "I would like to thank Integra's shareholders for having the confidence to participate in the creation of Genuity Europe. With Genuity's resources, its unique heritage as an Internet pioneer and its expertise in providing integrated Internet infrastructure services, Integra's customers, partners and employees will be well-served globally."

Genuity will be listed on the Nouveau Marche following approval of its listing prospectus by the Commission des Operations de Bourse ("COB") and completion of the settlement and delivery of Genuity shares for Integra shares. Genuity initially announced its intent to acquire Integra on June 1, 2001.

About Genuity

Genuity is a leading Internet infrastructure services provider and the only company in the industry to offer an eBusiness Network Platform. Genuity's Black Rocket(TM) combines its Tier 1 network with its full portfolio of managed Internet services, including dedicated, remote and broadband access, Web hosting and Internet security, to create a platform for creating scalable and repeatable managed eBusiness solutions. With annual revenues of more than $1 billion, Genuity is a global company with operations in the U.S., Europe, Asia and Latin America.

Additional information about Genuity can be found at www.genuity.com.

About Integra

Integra is a leading European provider of managed and application hosting for businesses with mission-critical Internet operations. In addition, Integra's Project Services division provides end-to-end eBusiness solutions in cooperation with specialized partners. Integra's pan-European network of Integra Technical Centres (ITCs) provides a state-of-the-art infrastructure to ensure optimal performance of complex web sites. Integra has operations in Denmark, France, Germany, Italy, the Netherlands, Norway, Spain, Sweden, and the UK.

More information can be obtained from: www.integra-europe.com

This press release contains forward-looking statements. For each of these statements, Genuity Inc. claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. If future events and actual performance differ materially from Genuity's assumptions, actual results could vary significantly from the performance projected in these forward-looking statements. For a more detailed discussion of the risks and uncertainties of Genuity's business, please refer to Genuity's Annual Report on Form 10-K as filed with the Securities and Exchange Commission on March 30, 2001, which discusses in greater detail the important factors that could cause actual results to differ materially.

This announcement does not constitute an offer for sale of any securities of Genuity or Integra. The shares of Genuity Class A common stock to be issued pursuant to the exchange offer for shares of Integra have not been registered in the United States under the Securities Act of 1933, as amended (the "Securities Act"). Therefore, the exchange offer is not made in the United States or to U.S. Persons as defined in the Securities Act. For a period of one year commencing on the date on which all of the shares of Genuity Class A common stock are issued, such shares of Class A common stock may not be resold, pledged, or otherwise hedged or transferred in the United States or to U.S. Persons as defined in the Securities Act. The shares of Genuity Class A common stock may not be resold, pledged, or otherwise hedged or transferred during the one year period following the termination of the restrictive period referred to in the preceding sentence, except in compliance with either Regulation S or Rule 144 under the Securities Act.