Simpler Scores Simoleons

MONTREAL -- Simpler Networks (www.simplernetworks.com), the Montreal-based telecommunications equipment manufacturer specializing in Automated Distribution Frames (ADF) enabling Copper Loop Management, announced today it has completed its second round of financing totaling US $25 million in the form of new funds and notes converted into equity. Investors from this round include: ADC, the Solidarity QFL Fund, Innovatech Grand Montreal and a private American telecommunications company. Three of these four companies were part of Simpler Networks' initial round of financing in April 1999. "Given the current volatile market conditions, Simpler Networks is very pleased with this financing. It reflects substantial confidence in our team, its vision and our offering and it certainly underscores the market need for automated distribution frame technology within the telecommunications industry," states Mike Perrault, President and CEO of Simpler Networks.Simpler Networks Inc.