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Move Comes as Freeinternet.com Files For Chapter 11 Bankruptcy Protection

NetZero, Inc., a leading provider of advertising-and commerce-supported Internet access, today announced that it has signed a non-binding letter of intent to acquire certain assets of FreeI Networks, Inc., a national provider of free Internet access. FreeI Networks, Inc., which is also known as Freeinternet.com, today filed for protection under Chapter 11 of the United States Bankruptcy Code. The terms of the proposed transaction were not disclosed. The closing of the transaction is subject to a number of closing conditions, including the execution of definitive agreements and approval of the transaction by the bankruptcy court.

One goal of the transaction is to ensure Freeinternet.com users experience no interruptions in service. It is expected that users will be referred to NetZero's service, and will be able to keep their current email address.

Freeinternet.com launched service in December 1998 in the Seattle metropolitan area and expanded to five major metropolitan areas in May 1999. In October 1999, the company launched service in all 50 states and currently serves users in cities throughout North America.

"Our intent is to provide maximum continuity for Freeinternet.com users. NetZero intends to help Freeinternet.com users transition as smoothly as possible so they can continue to enjoy the benefits of free Internet access and e-mail," said Mark R. Goldston, Chairman and CEO, NetZero.

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James Martell is the Sr. Editor and Webmaster for Desktop-Publishers.com, a free stuff site featuring free ISPs, free voicemail and free long distance, click here!