Southboro, Mass. - July 25, 2000 - ViryaNet Inc., a provider of business-to-business Internet solutions for service communities, announced that on July 25, 2000, the Company filed with the Securities and Exchange Commission a registration statement in connection with the initial public offering of 4,500,000 of its ordinary shares. The ordinary shares, all of which are being offered by ViryaNet, are expected to be listed for quotation on the Nasdaq National Market under the
symbol VRYA.
Chase H&Q will act as the lead underwriter of the offering. Salomon Smith Barney and Dain Rauscher Wessels will serve as co-managers. A copy of a preliminary prospectus relating to these securities may be obtained by calling Chase H&Q at 415-439-3423, Salomon Smith Barney at 718-765-6736, or Dain Rauscher Wessels at 612-371-2711.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of
these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of such state.