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September 26, 2001
eAccess Ltd.

eAccess Completion of 10 Billion in Private Equity Placement

TOKYO, September 26th, 2001- eAccess Ltd. ("eAccess" or the "Company"), a broadband data communications company based in Tokyo, announced today that it sold an aggregate of 10,040.88 million of its convertible preferred shares to existing and new investors including (in alphabetical order) Goldman Sachs, Morgan Stanley, Sycamore Ventures, Asahi Mutual Life Insurance, The Carlyle Group, China Development Industrial Bank, HSBC Technology Fund, Japan Telecom Co., Nissho Electronics Co., Sumitomo Co., and others.

The transaction is one of the largest third-party allocations of equity by a privately held company in Japan. Including the two previous rounds of funding in February 2000 (4,500 million) and February 2001 (5,000 million), eAccess has raised a total of 19,781.58 million in capital (paid-in-capital). Total amount allocated to capital now amounts to 10,528.29 million.

eAccess is the largest ADSL operator in Japan following NTT East/West, providing ADSL service through 473 NTT local telephone exchanges in eight prefectures, including Tokyo, Osaka, Aichi and others. The Company aims to expand the geographic coverage of its ADSL services, construct a dedicated IP backbone using dark fiber, develop a range of value-added services (VoIP service and content distribution service), and promote fiber-to-the-home services.

eAccess was established in November 1999 as a broadband data communications company, focusing on DSL, Internet Protocol (IP) services and solutions to customers.
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eAccess Ltd.

The information is true and accurate at the time of publication. Price, specification, contact and other information of products and service may be subjected to change.