NetNearU

(February 20, 2001) COLLEGE STATION, Texas -- NetNearU, an industry leader in the emerging wireless and wired public Internet access market and developer of proprietary management software, announced today the successful closing of the first round of a private placement of Series A Preferred Stock led by BlueStar Ventures, LP. The $6 million of proceeds raised to date in this financing brings the total amount of capital raised by NetNearU over the past two years to approximately $15 million. BlueStar was joined in the financing by Duchossois TECnology Partners, Leo Capital Holdings, and previous individual investors including senior management personnel of the Company. Larry M. James, chairman and CEO of NetNearU, states "This capital will help us to broaden the Company's customer base, increase the number of wired and wireless access points, provide NetNearU with the ability to expand product development and global distribution efforts, and capitalize on rapidly emerging market opportunities. We're very pleased to have the experience, commitment and dedication of this group of partners. Given the current state of the private equity market, their participation demonstrates further confidence that we are leaders in the public Internet space."

Patrick J. Pollard, managing director of BlueStar Ventures, states, "This is an exciting time at NetNearU as the Company introduces its remote network management software to the broadband wireless Internet. NetNearU's customers are the same blue-chip customer base of telecom carriers, retailers, and other public location landlords who control the prime access points in the wired and wireless worlds. We are pleased to be a part of NetNearU's bright future."

NetNearU's public Internet access products, which can be found in hotels, airports, retail outlets, truck stops and restaurants, provide users with a wide range of services. NetNearU's robust remote monitoring system provides access point and kiosk owners with an unparalleled ability to manage and maintain their Internet-based terminals. NetNearU is well positioned to take advantage of the proliferation of wireless devices which, according to industry analysts, are expected to grow at an annual rate of more than 80% through 2004.

NetNearU's blue chip roster of clients includes AT&T Corporation, McDonalds Corporation, Sprint Corporation, British Petroleum, NCR Corporation, and The Sharper Image.

About NetNearU
NetNearU designs, develops, markets and supports management and reporting solutions for wired and wireless Internet-based systems. The Company's TRACKOS™ and SystemHealth™ products provide for centralized, near real-time remote monitoring, management and maintenance of any number of Internet-based terminals and wireless access points located anywhere in the world. TRACKOS™ is a scalable and flexible platform that collects, stores and reports data for analysis of business activities. The Company's ADTRACKOS™ product provides for interactive advertising to be remotely uploaded, sent to designated terminals and automatically billed to advertisers. The Company is focused on applications offering wired and wireless Internet access and applications deployed in retail markets to support e-commerce and customer service functions. NetNearU offers technical support, hardware monitoring, maintenance dispatching and credit card processing services to its licensees, as well as a full range of professional services to integrate its software products with customer applications. NetNearU is also a leading distributor of public Internet access terminals.

The Company is headquartered in College Station, Texas. More information about NetNearU may be found at www.nnu.com.

About BlueStar Ventures, L.P.
BlueStar Ventures, L.P. (http://www.bluestarventures.com) is a Chicago-based private equity investment fund focusing its capital, time and other resources on early stage investments in technology, Internet and telecommunications companies. BlueStar's portfolio includes Clerity Knowledge Exchanges, Curious Networks, Ikadega, NII Communications, and SurePayroll.com.

About Leo Capital Holdings, LLC
Leo Capital Holdings, LLC is a Chicago-based private equity company focusing it's capital on early stage investments in wireless, technology, and Internet companies. Leo Capital Holdings, LLC portfolio includes investments in RFWaves, Epiworks, and ikadega.

About Duchossois TECnology Partners, LLC
Headquartered in Elmhurst, Ill., Duchossois TECnology Partners, LLC is a $100 million venture capital fund focused on early stage technology companies in the areas of software development, wireless, and voice technology. Duchossois TECnology Partners is an affiliate of Duchossois Industries, Inc., a $1.3 billion family owned multi-national corporation with over 8,000 employees.

[Statements made in this press release that state the Company's or management's intentions, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements.]


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NetNearU Secures Series A Funding to Expand Customer Base