Press Releases
SOURCE: DH Capital, LLC

IRIDES, LLC ACQUIRES SPIDER WEB HOSTING SOLUTIONS

NEW YORK, NY - July 15, 2002 - Spider Web Hosting Solutions, a Boston, Massachusetts Web hosting provider has been acquired by Irides, LLC. DH Capital, LLC advised the Seller.

Spider Web Hosting was founded in 1998 by Dogan Tuncel, Andrew Cohen, and Brian Poitras. The company serves the greater Boston market providing shared web hosting, dedicated web hosting and Internet connectivity. "Spider Web Hosting is an excellent example of a well run, profitable Web hosting provider," commented Dean Mann, Principal of DH Capital, LLC. "Despite the tough capital markets environment we continue to work successfully with our clients to achieve superior results."

Brian Poitras of Spider Web Hosting said "We are pleased to be joining forces with a quality company such as Irides. We were presented with a number of strategic options and believe Irides is a great company to continue serving our customers. DH Capital's understanding of our business was key in identifying Irides as the right buyer for Spider Web Hosting."

About DH Capital, LLC
DH Capital is a private investment banking partnership serving the media, Internet and telecommunications industries. The firm capitalizes on more than seventy years of combined experience in financing, acquiring, selling and operating companies. DH Capital specializes in providing a full range of advisory services to companies and financial institutions including private placements, mergers & acquisitions, financial restructuring, and operational consulting. The principals of DH Capital have led hundreds of transactions including M&A totaling in excess of $10 billion, private equity placements totaling more than $700 million, and debt placements totaling in excess of $7 billion.

For additional information on DH Capital, please contact us at 212-698-7990.