PEER 1 Network Enterprises, Inc.

PEER 1 Network Enterprises, Inc.

November 18, 2005 22:10 ET

Peer 1 Announces Management Change

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 18, 2005) - Peer 1 Network Enterprises, Inc. (TSX VENTURE:PIX), a leading provider of Internet infrastructure, announced today that Geoffrey Hampson has tendered his resignation as the Chief Executive Officer and President of Peer 1 effective December 15, 2005, to pursue other early stage and rapid growth opportunities. Mr. Hampson has agreed to make himself available as required to assist Peer 1 over the next year.

Lance Tracey, currently Chairman of the Board of Peer 1, will be appointed president and chief executive officer. Mr. Tracey is a co-founder of Peer 1's colocation business (June 2000) and has been a director and the Chairman of the Board of Peer 1 since July 2002.

Peer 1 and its directors thank Mr. Hampson for his contributions to the growth and success of the company and wish him the very best in his future endeavours.

Peer 1's annual general shareholders' meeting (previously set for December 15, 2005) will be held at the company's head office at Suite 1600, 555 West Hastings Street, Vancouver, British Columbia, on Wednesday, December 21, 2005 at 1:00 p.m.

ABOUT PEER 1 NETWORK: Peer 1 Network, a leading Internet infrastructure provider, delivers client-centric solutions that ensure customers' online presence is available 100% of the time. From colocation and self-managed dedicated servers to complex managed hosting, Peer 1 has a solution to meet the online needs of all types and sizes of customers. Since its inception in 1999, the company has grown to include data centers and network points of presence in 16 major cities across North America and Europe, all connected by Peer 1's world class IP network. Peer 1 serves a variety of customers including hosting providers, online gaming companies, Internet phone (VoIP) companies and many small and medium sized businesses. The company's headquarters are in Vancouver, Canada and the stock is traded on the TSX Venture exchange under the symbol PIX. For more information visit

Statements in this release relating to matters that are not historical fact are forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to, general economic conditions, changes in technology, reliance on third party manufacturing, managing rapid growth, global sales risks, limited intellectual property protection and other risks and uncertainties described in Peer 1's public filings with securities regulatory authorities.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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