PEER 1 Network Enterprises, Inc.

PEER 1 Network Enterprises, Inc.

March 16, 2005 20:25 ET

Peer 1 Network Announces Private Placement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: PEER 1 NETWORK ENTERPRISES, INC.

TSX VENTURE SYMBOL: PIX

MARCH 16, 2005 - 20:25 ET

Peer 1 Network Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 16, 2005) - Peer 1
Network Enterprises, Inc. (TSX VENTURE:PIX), a leading provider of
high-performance Internet infrastructure, today announced a non-brokered
private placement of up to 5 million shares priced at $0.28 per common
share. This transaction is subject to regulatory approval.

The proceeds of this private placement will be used for general working
capital requirements.

About Peer 1 Network

Peer 1 Network, the first Internet infrastructure provider to offer a
100% uptime guarantee, delivers leading-edge server colocation, IP
network and customer support solutions to performance-hungry customers
worldwide. Since its inception in 1999, the company has grown to 12
state-of-the-art data centers and 17 points of presence across North
America and Europe, all connected by Peer 1's world class IP network.
Peer 1 serves customers who range from gaming to VoIP, to enterprise.
The company's headquarters are located in Vancouver, Canada and the
stock is traded on the TSX Venture exchange under the symbol PIX. Peer
1's family of companies includes ServerBeach Ltd, an unmanaged dedicated
server company, and Symmetric Broadband Inc, a wholesale VoIP
termination and origination provider. For more information visit
www.peer1.net.

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.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Peer 1 Network Enterprises, Inc.
    Katie Wilson
    Director of Communications
    (604) 683-7747
    communications@peer1.net
    www.peer1.net
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.