PEER 1 Network Enterprises, Inc.

PEER 1 Network Enterprises, Inc.

November 15, 2005 08:30 ET

Peer 1 Network Business Acquisition Report Delayed by Interland Audit

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 15, 2005) - As disclosed in its news release of September 6, 2005, Peer 1 Network Enterprises, Inc. (TSX VENTURE:PIX) completed the purchase of the dedicated server assets of Interland, Inc. In connection with the acquisition, Peer 1 is required by applicable securities laws to file a Business Acquisition Report ("BAR") by November 16, 2005. Peer 1 has been advised that the audited financial statements to be included with the BAR will not be completed for filing by November 16, 2005. As such, Peer 1 has been advised by the British Columbia Securities Commission that it will be put on the Commission's defaulting issuer list until the BAR is filed. Peer 1 is taking all necessary steps to file the BAR as soon as possible.

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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