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JOED5500
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InDigiNet Clarifies Merger Progress
6/1/2004 9:35:00 AM

NEWPORT BEACH, Calif., Jun 1, 2004 /PRNewswire-FirstCall via COMTEX/ -- InDigiNet, Inc., (IDGE) , a provider of managed communication solutions for Small to Mid-Size Enterprises (SMEs) in the United States, is pleased to provide additional clarity to its merger & acquisition plans as it relates to the Company's May 26, 2004 press release.

"Many of you have asked for me to clarify our merger progress and direction," stated InDigiNet CEO Mark Ellis. "Our successful asset purchase and ensuing customer wins by The Site Doctors (TSD) has become our focal point of growth and thus our merger direction. Using TSD's strong network within the web building industry, we have and are actively seeking merger candidates to build our design house infrastructure. Our intent is to clone the success that we have had with TSD. The plan is for some of the newly acquires to fold into and become part of the design department, while others will retain its own identity as wholly owned subsidiaries."

Ellis further stated, "The merger talks under consideration can be bifurcated into two groups. The first group of candidates have progressed through the due diligence stage, where we have confirmed their customer base and revenue stream. While the second group has moved onto the final stages of negotiations with non-competes being put into place and Letter of Intents getting ready to be drafted. We feel very comfortable about our potential acquires and our eventual positive outcome. So much so that we've already filed a new S8 Plan last week in order to ready ourselves for the influx of new people.

"InDigiNet is committed to keep shareholders and members of the financial community current on the Company's activities. Embarking upon the second half of 2004, our mergers will display the classic C2C, UBC and TDS type of transactions. Each of them will bring along a host of clients, services and or assets. Therefore, it is our job as the consolidator to orchestrate these fine group of private companies into a symphony of the finest professionals under one banner," concluded Ellis.

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 www.c2cexchange.com

For more information about InDigiNet visit www.indiginet.com.


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