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Datalink.net Files S-3 To Access Capital At Some Future Date; The Company May Issue Up To Three Million More Shares.

Business Editors/High-Tech Writers

SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 9, 2001

Datalink.net (AMEX:DLK), a market leading wireless application service provider (w-ASP) and infrastructure architect, today filed an S-3 shelf registration with the intention of raising more capital at some future date as the stock market shows signs of improving. Because the company's eligibility under the low cost S-3 registration was nearing expiration, a decision to file now before losing the window of opportunity was made.

With the recent Federal Reserve's reduction in key interest rates, we may see an improvement in the overall stock market in the near future. With this boost to the capital markets, it is expected that access to expansion capital should become easier. In filing this registration, Datalink.net is positioning itself to raise additional capital when it feels the time is right to do so.

The Company has filed a registration statement with the SEC to issue up to 3 million shares. This is a shelf filing under Rule 415, which allows Datalink.net to register shares with the SEC without committing immediately to sell them into the market. This provides the Company the maximum flexibility to issue shares at an appropriate future date, enabling it to take advantage of improving price, liquidity and market conditions.

Anthony N. LaPine, Datalink's Chairman and CEO explained: "I believe it is the best interest of our shareholders to file this registration, in order for us to be prepared to take advantage of an improving stock market." Mr. LaPine stated further, "The shelf registration procedure is the most cost effective method for Datalink.net to register its stock. Once registered, this stock can be used to raise additional capital. The decision to file now is not driven by an immediate need for capital but rather by certain eligibility requirements for an S-3 filing. We therefore needed to file at this time or be required to do a more costly S-1 filing in the future."

About Datalink.net -- The Wireless Architects(TM)

Datalink.net is a market-leading wireless infrastructure provider delivering end-to-end wireless solutions to its enterprise customers. Datalink.net's patented technology and real-time delivery systems enable enterprise customers and employees to utilize any wireless device to receive and respond to critical data 24x7x365.

Datalink.net is leveraging its core XpressLink technology across high demand, vertical markets, including finance, medical and the mobile workforce, to allow for the use of any wireless device and any digital communication language to push and pull data on demand. This technology produced the wireless market's first truly integrated enterprise product, Global Market Pro, which is Datalink.net's advanced, fully customizable wireless application for the financial professional. Global Market Pro was co-developed with The Chase Manhattan Bank and is employed by individuals and institutions throughout the financial community.

The Company serves a portfolio of marquee customers, including AOL, AT&T, Bank of America, Dow Jones, Citibank, EDS, Motorola and Qualcomm.

Datalink.net is headquartered in San Jose, Calif., with research facilities located in Vancouver, British Columbia and offices in Chicago, Philadelphia, New Jersey and Florida. For more information: http://www.datalink.net.

This press release contains forward-looking statements, which are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "intends," "believes" and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, successful integration of acquisitions, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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Publication:Business Wire
Date:Jan 9, 2001
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