Thursday March 15, 10:38 am Eastern Time

Company Press Release

North American DataCom Enters Into Agreement for Up to $50 Million of Equity Financing

IUKA, Miss.--(BUSINESS WIRE)--March 15, 2001--North American DataCom, Inc. (OTC BB: NADA - news), the Fiber Optic and Data Storage Company, announced that it had entered into a binding Letter of Agreement for a minimum of $25 Million in equity financing, with an option for an additional $25 Million, with IFG Private Equity, LLC, an Atlanta-based institutional investor.

``In this difficult capital market, we are very encouraged to join with a financing partner that has a very active interest in our Business Plan for a hybrid data storage and fiber optic network in the southeast,'' said Robert R. Crawford, president and chief executive officer of North American DataCom.

Under the terms of the IFG-North American DataCom Agreement, IFG will purchase up to $50 Million of North American DataCom's common stock over the next 24 months. The agreement is planned to operate in a manner similar to a line of credit, allowing North American DataCom to draw upon funds periodically, when and if desired. The funding agreement comes in the wake of North American DataCom's business plan revisions and six-month results. This funding is planned to provide the underlying support to proceed with the business plan.

The funding is subject to certain items, including completion of due diligence and finalization of the funding documents. North American DataCom intends to use the financing to immediately expand its fiber optic network and related data storage operations. Mr. Tony Gentile, President of Institutional Finance Group, Inc., the manager of IFG, stated, ``North American DataCom is currently deploying a 3,000 plus mile fiber optic backbone network in the southeastern United States, using the latest in fiber, optical transmission and broadband wireless distribution technologies. The compelling business strategy set in motion by Robert Crawford and North American DataCom's management team make us pleased to be part of this effort.''

``The equity financing program that we have agreed to implement with IFG provides the capital foundation to proceed with the initial 550 mile segment of our plan and the initiation of construction of our state-of-the-art hybrid data centers,'' said Mr. Crawford. ``We hope to build upon this round of financing and proceed with the Business Plan developed with Cap Gemini Ernst and Young. To accomplish our objectives in the current economic environment we have divided the Business plan into six independent network segments,'' said Mr. Crawford. ``Segment 1, running from Memphis to our facility in Iuka, Mississippi, and on to Atlanta, is tactically and strategically the most important. The capital budget to develop and operate the Segment 1 network and EDS business is planned at approximately $75 million through the first 18 months of operation, ending July 2002. The Segment 1 Business Plan projects revenues and net income of approximately $88 million and $19 million, respectively, for the next fiscal year ending June 2003. We remain firm in our conviction to develop the network in rural South, an under served area, and this will position us to benefit in the future from expected traffic growth.''

Safe Harbor Statement

Statements in this release express management's beliefs and expectations regarding future performance. These statements are forward-looking and involve risk and uncertainties. These risks include, but not limited to, the ability to negotiate venture agreements, properly identify acquisition partners, manage and integrate acquired businesses, react to quarterly fluctuation in results, raise working capital and secure other financing, respond to competition and other rapidly expanding technology, deal with market and stock price fluctuation, and other risks. These risks are and will be detailed, from time to time, in North American DataCom, Inc. Securities and Exchange Commission filings. Actual results may differ materially from management's expectations.

North American DataCom's principal executive offices are located at 751 County Road 989, Building 1000, Iuka, MS 38852. For further information, contact Investor Relations, 662-424-5030, or by e-mail at investorrelations@nadata.com.


2003-05-02
North American DataCom, Inc. (NADA), announced today that has halted its operations due a lack of funding.

2003-01-03
North American DataCom Reports Unaudited Fiscal Year 2002 and First Quarter Results

2002-05-21
North American DataCom Reports Nine-Month Results: Debt and Losses Reduced

2002-04-25
North American DataCom Announces Bandwidth Agreement

2002-04-23
North American DataCom Expands Board and Announces Revised Business Plan

2002-02-21
North American DataCom Reports Six-Month Results: Revenues Up and Expenses Down

2001-12-04
North American DataCom Announces Expansion of Internet and Data Services Business

2001-11-08
North American DataCom Acknowledges Equity Investment Support

2001-10-31
North American DataCom Reports First Quarter Results: Revenues Up and Expenses Down

2001-10-24
North American DataCom Announces Revised Business Plan

2001-10-16
North American DataCom Reports Fiscal Year 2001 Results: Net Revenue and Development Expenses Up

2001-08-28
North American DataCom, Inc. and Infusion Software Group, LLC Launch GLOBAL PTX

2001-08-07
North American DataCom Announces Management Changes

2001-05-15
North American DataCom Announces Third Quarter Financials: Net Revenues Increased by 113% and Development Expenses Up

2001-03-15
North American DataCom Enters Into Agreement for Up to $50 Million of Equity Financing

2001-03-07
North American DataCom Announces New Lease with State of Mississippi

2001-02-19
North American DataCom Reports Second Quarter Results: Net Revenue and Development Expenses Up

2001-02-15
North American DataCom Announces Interim Business Plan

2000-11-07
North American DataCom Receives Enterprise Data Storage Contract

2000-09-07
North American DataCom Announces Deployment of Microwave Tower and Right of Way Agreement With Local Railroad

2000-09-01
North American DataCom Subsidiary Announces Appointment of Gordon Evans

2000-08-22
North American DataCom Announces Fiber Optic Conduit Agreement

2000-05-12
North American DataCom Receives Certification as a Competitive Local Exchange Carrier -CLEC-

2000-05-11
Broadband Pioneer Makes Tracks With EMC As Core Info Infrastructure

2000-04-07
North American DataCom Changes Trading Symbol

2000-03-24
Pierce International Changes Name To North American DataCom

2000-03-07
Pierce International Names Jerry Buuck to Head Sales for Its Newly Formed Subsidiary North American InfoTech, LLC

1999-12-21
Pierce International Acquires North American Software

1999-05-20
North American Software Acquires Freedom 2000 Internet Service