AT&T, Intel and IBM Join Forces to Form Cometa Networks,
a National Broadband Wireless Internet Access Provider

    NEW YORK, Dec. 5, 2002 - Leading technology companies AT&T, Intel and IBM, and global investment concerns Apax Partners and 3i today announced they are utilizing their collective technologies and capabilities to create a new company, Cometa Networks, that will provide broadband, wholesale, wireless Internet access nationwide.

    Cometa Networks plans to provide this service to telecommunications companies, Internet Service providers (ISPs), cable operators and wireless carriers, who then can offer their customers wireless Internet access, using wireless fidelity (Wi-Fi) technology, also called 802.11. Cometa will also offer wireless Internet access to enterprise customers through the participating carriers.

    The company will work with major national and regional retail chains, hotels, universities and real estate firms to deploy the broadband wireless access service in "hot spots" throughout the top 50 U.S. metropolitan areas.

    Cometa's service will make it possible for users to keep existing sign-on procedures, email addresses, IDs, passwords and payment methods -- regardless of whether they are accessing the Internet via an ISP, corporate virtual private network, telecommunications provider or cable operator.

    "Wi-Fi will bring distributed computing into the general public environment leading to increased business productivity and new consumer applications," said Lawrence B. Brilliant, Chief Executive Officer, Cometa Networks. "Mobile professionals want a consistent, integrated solution that makes it easier to access reports, customer information and email using their existing Internet accounts, whether a mile from home or across the country."

    "Wi-Fi technology gives mobile workers high-performance productivity tools that help them boost performance and customer service -- whenever and wherever they're working," Brilliant added.

    Cometa Networks' 802.11 network access is targeted to begin roll out during 2003 in top 50 U.S. urban markets. The company is in talks with customers and additional partners.

    AT&T plans to provide network infrastructure and management. IBM plans to provide wireless site installations and back-office systems.

    "Cometa Networks plans to achieve critical economies of scale by building on the retail brands and customer reach of service providers," said Theodore Schell, Cometa Networks Chairman and General Partner of Apax Partners. "Our goal at Cometa Networks is to provide the quality of service, nationwide footprint and seamless integration into corporate networks that will stand the test of demanding enterprises."

    Cometa Networks will have offices in San Francisco and New York. The initial Board will consist of Lawrence B. Brilliant, Cometa's CEO; Ted Schell, General Partner of Apax Partners; and Robin Murray, General Partner at 3i. Financial details were not disclosed.

    For more information, please visit www.cometanetworks.com.

    About Apax Partners
    Apax Partners, Inc., one of the world's leading private equity investment groups, manages more than $11 billion on behalf of institutional investors worldwide. Its cross-border teams of more than 170 investment professionals in the US, Europe, Israel and Japan work together to identify the best investment opportunities in the following industry sectors: Information Technology, Telecommunications, Healthcare, Media, Financial Services, and Retail/Consumer. Funds advised by Apax pursue a balanced equity portfolio strategy, investing in companies at all stages of development from start-up to buy-out in amounts ranging from $3 million to $3 billion. Contact: Tim Turpin, 415/345-4722, tim@outcastpr.com.

    About AT&T
    AT&T (www.att.com) is among the premier voice, video and data communications companies in the world, serving businesses, consumers, and government. The company runs the largest, most sophisticated communications network in the U.S., backed by the research and development capabilities of AT&T Labs. A leading supplier of data, Internet and managed services for the public and private sectors, AT&T offers outsourcing and consulting to large businesses and government. The company is a market leader in local, long distance and Internet services, as well as transaction-based services like prepaid cards, collect calling and directory assistance. With approximately $40 billion of revenues, AT&T has relationships with about 50 million consumers and 4 million business customers, who depend on AT&T for high-quality communications. AT&T has garnered several awards for outstanding performance and customer service. Contact: Kate Rankin, 201/755-5468, korankin@att.com.

    About IBM Global Services
    IBM Global Services is the world's largest information technology services provider, with professionals serving customers in 160 countries and annual revenue of about $35 billion (2001). IBM Global Services integrates IBM's broad range of capabilities -- consulting, IT services, hardware, software and research -- to help companies of all sizes realize the full value of information technology. Contact: Jan Walbridge, 914-766-4647, walbridge@us.ibm.com

    About Intel Capital
    Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy in support of Intel's strategic interests. Intel Capital invests in hardware, software and services companies in several market segments, including computing, networking, and wireless communications. For more information, visit www.intel.com/capital. Contact: Laura Anderson, 408/666-5915, laura.m.anderson@intel.com 

    About 3i
    3i is a leading international venture capital company with U.S. offices in Menlo Park, CA and Waltham, MA. Operating since 1945, 3i has invested worldwide over $20 billion, including co-investment funds, through its 16-country, 3-continent network of 36 offices. 3i leverages this worldwide presence to add value to its portfolio companies and investment partners. In the United States, 3i concentrates on early and later stage technology investments in companies with the potential to be leaders in their markets. Outside the USA, 3i invests broadly in private equity and venture capital.

    Since opening businesses in 1999, 3i is already among one of the most active VC's in its markets. Recent investments in early stage companies include Bitfone, Knowmadic, Sonim and OmniGuide. Along with these early stage investments, 3i successfully implemented its later stage initiative with the stated goal of placing an equal focus on both early stage start-ups as well as later stage investments. Recent investments include Top Layer and Placeware. Visit 3i and its portfolio at www.3ius.com. Contact: Katja Gehrt, 650/470-3210, Katja_Gehrt@3i.com

# # #

           CONTACT: 
             Cometa Networks
             Steve Harris, 866/266-3823
             mediarelations@cometanetworks.com