Peer 1 Network Completes Acquisition of ServerBeach
 

VANCOUVER, BRITISH COLUMBIA – Thursday, October 21, 2004 -- Peer 1 Network Enterprises, Inc. (TSX-V:PIX), a leading provider of high-performance Internet bandwidth and server co-location facilities, is pleased to announce that it has successfully completed the previously announced acquisition of ServerBeach, Ltd., a leader in the unmanaged dedicated server business. ServerBeach will operate as a wholly-owned subsidiary of Peer 1 Network.

Concurrent with the closing of the acquisition, Peer 1 also closed on the Bridge Financing for $7.5 Million USD.

About ServerBeach
ServerBeach offers discount dedicated servers to the technology hobbyist. Built on solid hardware, a reliable network and burstable bandwidth, ServerBeach provides Linux and Microsoft users with a low-cost dedicated server, complete with a full set of developer’s tools. Visit the ServerBeach at www.serverbeach.com or call 800.741.9939.