Press Release

MeterNet to remain Independent

Previous discussions to be acquired by Custom Branded Networks have concluded with no agreement

Reno, NV—February 1,2002 -- MeterNet Corporation announced that discussions, previously announced November 20,2001, to be acquired by Custom Branded Networks (OTCBB: CBNK) have concluded with no agreement being reached.

MeterNet will remain independent and is currently exploring new corporate development and strategic alliances. MeterNet will continue to offer its SimpleBox Internet Set Top Device product line to Custom Branded Networks and other international service providers.

According to recent industry research, worldwide digital set top box sales (including cable, satellite and terrestrial platforms) are projected to exceed 40 million units in 2002.

AboutMeterNet
MeterNet Corporation develops and markets Internet Devices,Web Services and Integrated Access Programs. The Company markets using its own brands, including SimpleBox, Connect123 and PremiumCD, or utilizes customers’ private brands. Past-satisfied clients include Ziff-Davis, America Online, Alta Vista, Shopping.com and IBM.

Links:

http://meternet.com/
http://connect123.org/
http://connect123.net/
http://church.simplebox.com/

NOTE: MeterNet is a registered trademark, Connect123, SimpleBox and SimpleBox Church Network are Service Marks of MeterNet Corporation. All other products or brand names are trademarks or registered trademarks of their respective owners.