IPOptical Closes Its Doors

DULLES, Va. -- IPOptical announces that it will cease operations due to lack of capital. IPOptical has been seeking round B funding for a number of months. While secondary investors had committed capital contingent on finding a lead investor, failure to close a lead has forced management to lay off the employees and sell the business assets. IPOptical will permanently close effective July 20, 2001. IPOptical Management wishes to thank all its employees for their enthusiasm, creativity, patience, accomplishments and professional attitude. Moreover, management wishes to thank all the families of our employees for their generous sacrifice of valuable time from their loved ones over the past year. Lastly, we wish to thank our suppliers, prospective customers and investors for committing to our vision and performing beyond expectations. IPOptical is assisting our employees with career opportunities in the Northern Virginia area. Any questions pertaining to the company or employee placement should be directed to Mark Ludder at the address below. 45940 Horseshoe Drive, Suite 150, Dulles, VA 20166 IPOptical Inc.