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Modwest Secures External Financing

Company says capital injection will allow infrastructure upgrades, marketing boost

Modwest Inc., a growing provider of shared and managed hosting services, today announced their
first-ever round of external equity financing. The company, founded in January
2000, says the injection of capital will make possible a number of infrastructure upgrades as well as a
boost in sales and marketing efforts.

"We’ve relied solely on internal financing and a considerable quantity of blood, sweat, and tears for over two
years now", says co-founder John Masterson. "Securing our first round of external financing is an important
validation of our efforts, in addition to establishing Modwest as serious player in the extremely competitive
web hosting sector."

One investor made the following statement: "As a longtime customer, I knew Modwest
provided the most courteous, elegant Web hosting service I’d seen. So I inquired about investing, and, after
evaluating the company’s business model with my accountant, determined that Modwest was a sound
investment. This is a company experiencing rapid growth, led by a team of pros who know how to handle it.

I am proud to be part owner of Modwest. Their technical expertise, internal commitment to customer
service, and fiscal responsibility, make them a company with tremendous potential."

Modwest’s highly scalable infrastructure and proprietary automation technologies have allowed the
company to grow quickly without incurring any significant additional infrastructure or staff expenses.

Projections for web hosting as an industry are for continued strong growth, despite the current market
downturn.

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