Enron's not using it

February 20, 2002

1 Min Read

HOUSTON -- Jarvis Entertainment Group, Inc. (Pink Sheets:JRVE) today announced it has initiated a letter of intent to purchase Enron Broadband Services (EBS), a wholly owned subsidiary of Enron Corp. (Pink Sheets:ENRNQ). Enron Broadband Services, a Houston-based wholly owned subsidiary of Enron Corp., has assembled a world-class IP network designed for high quality, high bandwidth delivery and application services. EBS also maintains a fiber and optical transport network throughout North America along with dark long haul and metro fibers, real estate, software and other communications equipment. EBS cited their knowledge of and relationship with Jarvis Entertainment Group as leading EBS to believe JEG would be interested in considering an acquisition of all or some of these assets. "JEG has been provided with an overview of the assets offered for sale. Our entire team, legal, engineering, and financial advisers, contributed to the proposal. Two companies on the same exchange, in a related business, both from Houston; it made sense for us to go after this opportunity with diligence," said John D. Jarvis, Chairman and CEO of Jarvis Entertainment Group. "At this point, I will say only this; we have an offer on the table." Jarvis Entertainment Group Inc.

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