Investor News Release
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SoftNet and Mediacom Announce Completion Of One Million Homes Passed Agreement For High Speed Cable Internet Access
Commenting on the agreements, Mr. Commisso said, "We place high confidence in SoftNet and their ISP Channel service. We are enthusiastic about providing our cable customers with ISP Channel's quality high speed Internet access. Mediacom will also endeavor to help further the distribution of ISP Channel throughout the cable industry."
SoftNet chairman and chief executive officer, Dr. Lawrence Brilliant, said, "I would like to welcome Rocco Commisso to SoftNet's Board of Directors. We are proud of this partnership with Mediacom and are committed to the speedy deployment of ISP Channel broadband services at affordable prices to Mediacom's cable customers. "
Since the preliminary agreement between the two parties, first announced by SoftNet on July 7, 1999, SoftNet's ISP Channel has begun the launch of two-way, high speed Internet access in three Mediacom systems. All three are expected to be commercially available within the next 30 days. ISP Channel also intends to commercially launch six additional Mediacom systems within the next eight weeks. Overall, under the terms of this agreement, Mediacom has a commitment to deliver to SoftNet at least 150,000 marketable two-way homes every six months for the next three years.
Mediacom, with headquarters in Middletown, N.Y., is among the top ten operators in the U.S. cable television industry. With its recent completion of the Triax acquisition, the company's broadband network passes more than one million homes and serves over 725,000 cable television and Internet customers in 21 states. Mediacom is focused on delivering cable television service to non-metropolitan markets and is committed to providing its customers in the smaller communities new and advanced products and services with its broadband technology. In its development towards becoming a full service provider, Mediacom now offers an array of services, including traditional cable television, advanced digital video programming and high speed Internet access under the co-brand of ISP Channel and Mediacom. More information about Mediacom can be obtained by visiting its web site at www.mediacomllc.com.
About SoftNet Systems, Inc. and ISP Channel, Inc.
SoftNet Systems, Inc. is a leading high speed broadband Internet access and content services company. Through its ISP Channel, the company provides a complete Internet service partnership to cable affiliates which includes cable head-end equipment and integration, Internet backbone connectivity, and technical support and 24 x 7 customer care. ISP Channel offers high speed Internet access that is many times faster than standard dial up service, key for such use as downloading files, graphics, audio and video. Additional ISP Channel services include e-mail, personal web pages, news groups, and full multi-media capabilities. Complementing ISP Channel's high speed Internet service is its ISP Channel Neighborhood, a series of local user-friendly community e-commerce, information and entertainment portals built around local retailers and community organizations in service areas of each participating cable affiliate. Through SoftNet's Livermore-based Intellicom subsidiary, the company markets a two-way VSAT (very small aperture terminal) satellite commercial Internet link.
SoftNet's network operating center (NOC) is located in Silicon Valley, while its corporate headquarters is located in San Francisco, California. For further information about SoftNet and its services, please visit www.softnet.com, www.ispchannel.com, www.vsat.net, or call 415-365-2500.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the matters discussed in this news release that may be considered forward-looking statements may be subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected, including uncertainties and other risks detailed from time to time in the Company's Securities and Exchange Commission filings.