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[QUOTE]Originally posted by BeginnersLuck: [QB] NEWPORT BEACH, Calif., Sept. 28 /PRNewswire-FirstCall/ -- InDigiNet, Inc., (OTC Bulletin Board: IDGN), a provider of managed communication solutions for Small to Mid-Size Enterprises (SMEs) in the United States, announced that it will delay the acquisition of Universal Broadband Communications, Inc. (UBC) until the first quarter of 2005 subject to share price stabilization and favorable exchange rates. "Yes we want to buy all of UBC's global assets and potential international revenue streams," stated InDigiNet CEO Mark Ellis. "However, with our stock currency depressed, the timing is not right for us to buy millions upon millions of dollars of assets. In spite of the potential multi-million dollar annual revenue streams, we simply can't afford it right now. And until Wall Street wakes up to all our accomplishments, the dilution that our shareholders would have to bear would be too great." Ellis further stated, "In the spirit of 'What's best for the shareholders,' we are re-evaluating all acquisitions under negotiation as to their immediate and future benefits they will bring to our valued proposition. InDigiNet is certainly in transition. Even in the short time that I've been CEO of this Company, some merger candidates are showing remarkable strength while others are fading and unlikely ever to resume their former stature. We will endeavor to make sure that our shareholders get what they paid for." "We don't know how to time Wall Street's reaction to our consistent hard working Main Street efforts. All we can do is continually put forth our very best and let our growing numbers speak for themselves. Our anticipation is that by Q1 of 2005, we can participate in mergers and acquisitions in the caliber of UBC. In the mean time, we will venture to close the smaller transactions and lockup their revenue base," concluded Ellis. About Universal Broadband Communications, Inc. Universal Broadband Communications, Inc. (UBC) is a publicly reporting California-based corporation, with headquarters in Irvine. UBC is a leading provider of next generation voice and data services to residential and enterprise markets. This highly aggressive provider offers a full range of enhanced long distance services, including switched and dedicated service, domestic and global calling cards, and toll free international calling. One of UBC's greatest strengths lies in its proprietary Internet technology, which enables customers to exploit the power of the Internet with a multitude of innovative and cost saving options. For additional information, visit [URL=http://www.ubcom.com.]http://www.ubcom.com.[/URL] About InDigiNet, Inc. InDigiNet, Inc. is an integrated solutions company that provides small to mid-size enterprises (SMEs) with an integrated communication solution. The Company will offer data, local, long distance and wireless services to SMEs over third party networks enabling the company to offer a comprehensive suite of services without the capital burden of building a communication network. Under the C2C Exchange (C2C) brand name, the Company is known as a website design, hosting and complete e-commerce provider delivering one of the easiest and most powerful website building solutions on the Internet. The Company and its development team have automated the ability for a user to quickly and easily create powerful, feature rich, professionally designed websites. C2C has incorporated state-of-the-art features with styles, layout and graphics in addition to powerful functional management tools that every successful business needs for e-commerce. In a fraction of the time it once took, a user can now create a fully functional e-commerce website using any Internet access method. Compared to the traditional costs of web development, this service is simple and affordable. For more information, go to [URL=http://www.c2cexchange.com.]http://www.c2cexchange.com.[/URL] And for the Company's complete web design services, go to [URL=http://www.thesitedoctors.com.]http://www.thesitedoctors.com.[/URL] For more information about InDigiNet visit [URL=http://www.indiginet.com.]http://www.indiginet.com.[/URL] Statements made in this press release regarding the Company's or management's intention, 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. These risks, assumptions and uncertainties include: the ability to compete effectively in a rapidly evolving and price competitive marketplace; possible reductions in demand for our products and services due to competition or changes in industry conditions; changes in the nature of telecommunications regulation in the United States and other countries; changes in business strategy; the successful integration of newly- acquired businesses; the impact of technological change; and other risks referenced from time to time in the Company's filings with the Securities and Exchange Commission. For additional information call Investor Relations 949-476-3711 Or visit company website [URL=http://www.indiginet.com.]http://www.indiginet.com.[/URL] SOURCE InDigiNet, Inc. -0- 09/28/2004 /CONTACT: Investor Relations of InDigiNet, Inc., +1-949-476-3711 / /Web site: [URL=http://www.ubcom.com]http://www.ubcom.com[/URL] / /Web site: [URL=http://www.c2cexchange.com]http://www.c2cexchange.com[/URL] / /Web site: [URL=http://www.thesitedoctors.com]http://www.thesitedoctors.com[/URL] / /Web site: [URL=http://www.indiginet.com/]http://www.indiginet.com/[/URL] (IDGN) CO: InDigiNet, Inc.; Universal Broadband Communications, Inc. ST: California IN: OTC CPR TLS ITE MLM ECM NET SU: TNM [/QB][/QUOTE]
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